Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 371

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 6
Chunk 371
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 equipment of $6.8 million and an increase in account receivable of $4.26 million.

During the year ended
December 31, 2023, cash flow used in operating activities of approximately $32.75 million was mainly due to a net loss of $61.8
million, offset by a non-cash adjustment related to depreciation and amortization of property, plant and equipment of $27.13 million
and an increase in accounts and other payable and accrued expenses of $1.11 million.

Accounts receivable

Cash collections on our accounts
receivable had a major impact on our overall liquidity. The following table presents the aging analysis of our accounts receivable as
of December 31, 2024 and 2023.

    December 31, 2024 
    December 31, 2023

    % of total 
      
    % of total
  
    Aged 1-30 days 
    $419,581  
     74% 
    $2,040,377  
     42%
  
    Aged 31-60 days 
     144,942  
     26% 
     2,460,233  
     51%
  
    Aged 61-90 days 
     —  
     —  
     365,086  
     7%
  
    Aged 91-120 days 
     —  
     —  
     —  
     — 
  
    Aged 121-150 days 
     —  
     —  
     —  
     — 
  
    Aged 151-180 days 
     —  
     —  
     —  
     — 
  
    Aged 181-210 days 
     —  
     —  
     —  
     — 
  
    Aged 211-240 days 
     —  
     —  
     —  
     — 
  
    Total 
    $564,523  
     100% 
    $4,865,696  
     100%

The overall accounts receivable
balance as of December 31, 2024 decreased by $4,301,173, compared to those of December 31, 2023. The decrease was mainly due to the decrease
in the amount of accounts receivable