Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 59

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 59
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)
  
    Bromine 
     1,972  
     782  
     152%
  
    Crude Salt 
     25,934  
     24,852  
     4%

30 

Bromine segment

For the three-month periods ended June 30, 2025 and 2024, the net revenue
for the bromine segment was $7,676,374 and $1,859,234, respectively. The increase of the net revenue of bromine was due to a increase
in selling prices and tonnes sold of bromine in the second quarter of 2025. The sale price of bromine in the second quarter of 2025
was 64% higher than in the second quarter of 2024, and the quantity sold was 152% higher than in the second quarter of 2024.

Crude salt segment

For the three-month periods ended June 30, 2025 and 2024, the net revenue
for the crude salt was $667,411 and $523,935, respectively. The increase of net revenue of crude salt was mainly due to 22% increase in
average selling price of crude salt for the three-month period ended June 30, 2025.

Chemical products segment

For the three-month periods ended June 30, 2025
and 2024, the net revenue for the chemical products segment was $0 due to the closure of our chemical factories since September 1, 2017.

Natural gas segment

For the three-month period ended June 30, 2025
and 2024, the net revenue for the natural gas production was $0.

31 

Cost of Net Revenue

    Cost of Net Revenue by Segment 
    Percent Change

    Three-Month Period Ended 
    Three-Month Period Ended 
    of Cost of

    June 30, 2025 
    June 30, 2024 
    Net Revenue
  
    Segment 
      
    % of total 
      
    % of total 

    Bromine 
    $7,016,815  
     95% 
    $4,729,059  
     93% 
     48%
  
    Crude Salt 
     340,315  
     5% 
     382,999  
     7% 
     (11%)
  
    Chemical Products 
     —