Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 91

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 91
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 Three-Month Period Ended 
    Three-Month Period Ended 
    of Gross

    June 30, 2025 
    June 30, 2024 
    Profit Margin
  
    Segment 
      
    Gross Profit  Margin 
      
    Gross Profit Margin 

    Bromine 
    $659,559  
     9% 
    $(2,869,825) 
     (154%) 
     123%
  
    Crude Salt 
     327,096  
     49% 
     140,936  
     27% 
     132%
  
    Chemical Products 
     —  
     —  
     —  
     —  
     — 
  
    Natural Gas 
     —  
     —  
     —  
     —  
     — 
  
    Total Gross Profit 
    $986,655  
     12% 
    $(2,728,889) 
     (115%) 
     136%

Bromine segment

For the three-month period ended June 30, 2025,
the gross profit margin for our bromine segment was 9%, compared to gross loss margin of 154% in the three-month period ended June 30,
2024. The increase in gross profit margin was primarily attributable to the higher average selling price of bromine of $3,892 per ton
in the three-month period ended June 30, 2025 compared to $2,379 per ton in the three-month period ended June 30, 2024 and the number
of sales was up 152% from the second quarter of 2024. 

32 

Crude salt segment

For the three-month period ended June 30, 2025,
the gross profit margin for our crude salt segment was 49%.

For the three-month period ended June 30, 2024,
the gross profit margin for our crude salt segment was 27%.

Direct labor and factory overheads incurred
during plant shutdown On September 1, 2017, the Company received notification from the government of Yangkou County, Shouguang
City of PRC that stated that production at all its bromine and crude salt and chemical factories should be halted with immediate effect
in order for the Company to perform rectification and improvement in accordance with the county’s new safety and environmental protection
requirements.