Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 531

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7A
Chunk 531
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, Mr. Li served as Manager of the Accounting Department for the Yang Kou Branch of the China Construction Bank. From
1998 to 1999, Mr Li worked at China Construction Bank Shandong branch and in 2000 Mr. Li worked at the Yangkou Office as the accounting
manager. Mr. Li has a bachelor degree in accounting from Weifang College.

Family Relationships

There are no family relationships among our executive officers,
directors and significant employees.

Involvement in Certain Legal Proceedings

To the best of our knowledge,
there have been no events under any bankruptcy act, no criminal proceedings and no judgments, injunctions, orders or decrees material
to the evaluation of the ability and integrity of any director, executive officer, promoter or control person of our Company during the
past ten years.

Board of Directors

All directors hold office until
the next annual meeting of shareholders and until their successors have been duly elected and qualified. Directors are elected at the
annual meetings to serve for one-year terms. Officers are elected by, and serve at the discretion of, the board of directors. Our board
of directors shall hold meetings on at least a quarterly basis.

As a Nasdaq listed company, we
comply with the NASDAQ Listing Rules with respect to certain corporate governance matters. As a smaller reporting company, under the NASDAQ
rules we are required to maintain a board of directors comprised of a majority of independent directors, and an audit committee of at
least three members, comprised solely of independent directors who also meet the requirements of Rule 10A-3 under the Securities Exchange
Act of 1934.

Director Independence

The Board of Directors has determined
that Yang Zou, Shitong Jiang, Dongshan Wang and Shengwei Ma are independent under Rule 5605(a)(2) of the NASDAQ Listing Rules. In making
this determination, our board of directors considered the relationships that each of these non-employee directors has with us and all
other facts and circumstances our board of directors deemed relevant in determining their independence. As required under applicable NASDAQ
rules our independent directors will meet on a regular basis as often as necessary to fulfill their responsibilities, including at least
annually in executive session without the presence of non-independent directors and management. In addition, under applicable rules and
regulations, and as determined by the Board, all of the members of the Audit, Compensation, and Nominating and Corporate Governance Committees
are “independent” directors.

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