Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 90

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 90
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,072 (or 44%) as compared to the same period in 2024 due to the increase
of net revenue by 250% for the three-month period ended June 30, 2025 as compared to the same period in 2024 .

Bromine production capacity and utilization
of our factories

The table below represents the annual capacity
and utilization ratios for all of our bromine producing properties:

    Annual Production Capacity (in tonnes)

    Utilization
    Ratio (i)
  
    Three-month period ended June 30, 2024

    31,506

    9
    %
  
    Three-month period ended June 30, 2025

    31,506

    26
    %
  
    Variance of the three-month period ended June 30, 2025 and 2024

    —

    17
    %

(i) Utilization ratio is calculated
based on the annualized actual production volume in tonnes for the periods divided by the annual production capacity in tonnes.

Bromine segment

For the three-month period ended June 30, 2025,
the cost of net revenue for the bromine segment was $7,016,815.

For the three-month period ended June 30, 2024,
the cost of net revenue for the bromine segment was $4,729,059.

Crude salt segment

For the three-month period ended June 30, 2025 the cost of net revenue
for the crude salt segment was $340,315.

For the three-month period ended June 30, 2024
the cost of net revenue for the crude salt segment was $382,999.

Chemical products segment

Cost of net revenue for our chemical products
segment for the three-month period ended June 30, 2025 and 2024 was $0.

Natural gas segment

Cost of net revenue for our natural gas segment
for the three-month period ended June 30, 2025 and 2024 was $0.

Gross Profit (Loss). Gross profit
was $986,655, or 115%, of net revenue for the three-month period ended June 30, 2025, representing a increase of $3,715,544, as compared
to a gross loss of $2,728,889, or 115%, of net revenue for the same period in 2024.

    Gross Profit (Loss) by Segment 
    % Point Change