Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 176

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 3
Chunk 176
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2024 and year 2023, respectively.
These five factories (including No.1,No.4,No.7,No.8 and No.9)were in production during the year 2024.

General and Administrative
Expenses. General and administrative expenses were $5,271,011 for the year ended December 31, 2024, representing an increase of
$1,030,179 (or 24%) as compared to $4,240,832 for the same period in 2023.

41 

Loss from Operations. Operating loss was $21,283,649
for the fiscal year 2024, compared to a loss of $11,890,725 in the same period in 2023.

    Income (loss) from Operations by Segment

    Year ended December 31, 2024 
    Year ended December 31, 2023
  
    Segment: 
      
    % of total 
      
    % of total
  
    Bromine 
    $(17,238,619) 
     83.9% 
    $(10,005,755) 
     90.1%
  
    Crude Salt 
    $(76,694) 
     0.4% 
    $640,309  
     (5.8%)
  
    Chemical Products 
    $(3,028,479) 
     14.7% 
    $(1,653,349) 
     14.9%
  
    Natural Gas 
    $(195,364) 
     1% 
    $(86,284) 
     0.7%
  
    (Loss from operations before corporate costs 
    $(20,539,156) 
     100% 
    $(11,105,079) 
     100%
  
    Corporate costs 
    $(744,493) 
        
    $(785,646) 

    Loss from operations before taxes 
    $(21,283,649) 
        
    $(11,890,725) 

Bromine segment

Loss from operations from our bromine segment was $17,238,619
for the fiscal year 2024, compared to a loss of $10,005,755 in the same period in 2023. This decrease was due to a decrease in bromine
unit price of 27% and a decrease in volume of 72%.

Crude salt segment

Loss from operations from