Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 55

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1B
Chunk 55
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 5% per two years)
  
    Mining Permit No.:
    Under application, written consent obtained from local land and resources departments

    Property
    Factory No. 9 – Jinjin Li
  
    Area
    759 acres
  
    Date of Acquisition
    June 7, 2010
  
    Land Use Rights Lease Term
    Fifty Years
  
    Land Use Rights Expiration Date
    2060
  
    The number of remaining years to expiration of the of the land lease as of December 31, 2024
    35.5 Years
  
    Prior Fees Paid for Land Use Rights
    Not applicable
  
    Annual Rent
    RMB184,200 (increase 5% per two years)
  
    Mining Permit No.:
    Under application, written consent obtained from local land and resources departments

    Property
    Factory No. 10 – Liangcai Zhang
  
    Area
    1,700 acres
  
    Date of Acquisition
    December 13, 2021
  
    Land Use Rights Lease Term
    Ten Years
  
    Land Use Rights Expiration Date
    2031
  
    The number of remaining years to expiration of the of the land lease as of December 31, 2024
    7.0 Years
  
    Prior Fees Paid for Land Use Rights
    Not applicable
  
    Annual Rent
    RMB1,376,000
  
    Mining Permit No.:
    Under application

Leased Facility

On November 5, 2010, SCHC entered
into a Lease Contract with State-Operated Shouguang Qingshuibo Farm. Pursuant to the Lease Contract, SCHC shall lease certain property
with an area of 3,192 square meters (or 0.8 acres) and buildings adjacent to the Company’s Factory No. 1. There are currently non-operating
bromine production facilities on the property which have not been in production for more than 12 months. The annual lease payment for
the property is RMB 5.0 million, approximately $705,950, per year and shall be paid by SCHC no later than June 30th of each year. The
term of the Lease Contract is for twenty years commencing January 1, 2011. The Lease Contract may be renewed by SCHC for an additional
twenty year period on the same terms. The Lessor has agreed to permit SCHC to reconstruct and renovate the existing