Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 7

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1
Chunk 7
---
80%) of the total amount, equaling RMB35,311,680 had been paid on the date of signing
the contract by both parties. The remaining RMB8,827,920 shall be paid in a combination of common stock of the Company and cash as follows:
(1) RMB3,531,168 shall be paid in shares, calculated on a per share price of US$1.5 per, using the exchange rate RMB/US$:7.27. These shares
shall be issued by the Company to Seller C or Seller C's designated parties within three months after SHSI has inspected and accepted
the crude salt field in writing; (2) the balance shall be paid in cash before December 31, 2028.

 On December 17, 2024,
SHSI entered into an amendment to the acquisition agreement with Seller D, pursuant to which the Article 2. 2 of the agreement has been
amended as follows: Eighty percent (80%) of the total amount, equaling RMB 16,632,000 had been paid on the date of signing the contract
by both parties. The remaining RMB 4,158,000 shall be paid in a combination of common stock of the Company and cash as follows: (1) RMB1,663,200
shall be paid in shares, calculated on a per share price ofUS$1.5, using the exchange rate RMB/US$:7.27. These shares shall be issued
by the Company to Seller D or Seller D's designated parties within three months after SHSI has inspected and accepted the crude salt field
in writing; (2) the balance shall be paid in cash before December 31, 2028.

On December 17, 2024, SHSI
entered into an amendment to the acquisition agreement with Seller E, pursuant to which the Article 2. 2 of the agreement has been amended
as follows: Eighty percent (80%) of the total amount, equaling RMB36,628,320 had been paid on the date of signing the contract by both
parties. The remaining RMB9,157,080 shall be paid in a combination of common stock of the Company and cash as follows: (1) RMB3,662,832
shall be paid in shares, calculated on a per share price of US$1.5, using the exchange rate RMB/US$:7.27. These shares