Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 100

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 100
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 for the six-month period ended June 30, 2025, compared to an loss from operations of $9,445,401 in the same period in 2024.
This decrease was due to a 93% increase in tonnes sold and a 58% increase in average selling price.

Crude salt segment

Loss from operations from our crude salt segment
was $701,551 for the six-month period ended June 30, 2025, compared to an income from operations of $54,932 in the same period in 2024.
The increase in operating losses was mainly due to the depreciation resulting from the new acquisition of crude salt assets in 2024.

37 

Chemical products segment

Loss from operations from our chemical products
segment was $703,576 for the six-month period ended June 30, 2025, compared to a loss from operations of $654,078 in the same period in
2024.

Natural gas segment

Loss from operations from our natural gas segment
was $88,099 for the six-month period ended June 30, 2025, compared to a loss from operations of $101,482 in the same period in 2024.

Interest Income (Loss), Net. Other
loss, net of $39,172 represented bank interest income, net of finance lease interest expense for the six -month period ended June 30,
2025, a decrease of $60,374 as compared to the same period in 2024.

Net Income (Loss). Net loss was
$5,403,277 for the six-month period ended June 30, 2025, compared to a net loss of $37,090,050 in the same period in 2024.

Loss on disposal of property, plant and equipment. Loss
on disposal of property, plant and equipment was $29,169,008 in the fiscal year 2024. In June 2024, considered the bromide well and transmission
channel have been in use for many years, the Company conducted a site inspection and found that some wells and channels were seriously
damaged by water seepage which in turn required write-off or new construction, and the write-off amount is $29,169,008.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2025, cash and cash equivalents
were $7,736,081 as compared to $10,075,162 as of December 31, 2024. The