Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 640

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 9B
Chunk 640
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 Board, communicate with management and one another directly.
Under these circumstances, the directors believe designating a lead director to take on responsibility for functions in which they all
currently participate might detract from rather than enhance performance of their responsibilities as directors.

The Chairman of the Board chairs
Board and stockholder meetings and participates in preparing their agendas. The Chairman of the Board also serves as a focal point for
communication between management and the Board between Board meetings, although there is no restriction on communication between directors
and management. The Company believes that these arrangements afford the directors sufficient resources to supervise management effectively,
without being overly engaged in day-to-day operations.

The Board plays an active role,
as well as the independent committees, in overseeing the management of the Company’s risks. The Board regularly reviews reports
from members of senior management and committees on areas of material risk to the Company, including operational, financial, legal, strategic
and regulatory risks.

Audit Committee

The Board of Directors has standing
audit, compensation, and nominating committees, comprised solely of independent directors. Each committee has a charter, which is available
at Company’s website, www.gulfresourcesinc.com.

Audit Committee

The Audit Committee is responsible
for reviewing the results and scope of the audit, and other services provided by our independent auditors, and reviewing and evaluating
our system of internal controls. Mr. Jiang is the Audit Committee Financial Expert as defined in Item 407(d)(5) of Regulation S-K promulgated
under the Securities Act, and the chair of the Audit Committee. Our Board of Directors has determined that Messrs. Jiang, Zou and Ma are
“independent directors” within the meaning of Rule 10A-3 under the Exchange Act, as determined based upon the criteria for
“independence” set forth in the rules of the NASDAQ Stock Market.

Compensation Committee

The Compensation Committee is
responsible for (a) reviewing and providing recommendations to the Board of Directors on matters relating to employee compensation and
benefit plans, and (b) assisting the Board in determining the compensation of the Chief Executive Officer and making recommendations to
the Board with respect to the compensation of the Chief Financial Officer, other executive officers of the Company and independent directors.
Each of Dongshan Wang, Shitong Jiang and Shengwei Ma are members of the Compensation Committee. The Compensation Committee operates under
a written charter. Mr. Wang is the Chairman of Compensation Committee.

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Nominating and Corporate Governance Committee

Our