Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 0

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 0
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PART I—FINANCIAL INFORMATION

Item 1. Financial Statements

GULF RESOURCES, INC.  

AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. dollars)

    June 30, 2025 (Unaudited) 
    December 31, 2024 (Audited)
  
    Current Assets 

    Cash 
    $7,736,081  
    $10,075,162 
  
    Accounts receivable, net 
     3,150,850  
     564,523 
  
    Inventories, net 
     515,013  
     315,371 
  
    Prepayments and deposits 
     8,743,324  
     6,376,656 
  
    Amount due from related parties 
     25,144  
     25,040 
  
    Other receivable 
     105,564  
     94,074 
  
    Total Current Assets 
     20,275,976  
     17,450,826 
  
    Non-Current Assets 

    Property, plant and equipment, net 
     128,694,551  
     136,143,177 
  
    Finance lease right-of use assets 
     74,668  
     76,868 
  
    Operating lease right-of-use assets 
     5,937,515  
     6,169,855 
  
    Prepaid land leases, net of current portion 
     9,648,863  
     9,615,269 
  
    Deferred tax assets, net 
     —  
     — 
  
    Total non-current assets 
     144,355,597  
     152,005,169 
  
    Total Assets 
    $164,631,573  
    $169,455,995 

    Liabilities and Stockholders’ Equity 

    Current Liabilities 

    Accounts payable and accrued expenses 
    $11,551,878  
    $14,323,458 
  
    Taxes payable-current 
     298,037  
     113,999 
  
    Advance from customer 
     —  
     — 
  
    Amount due to related parties 
     2,589,489  
     2,584,808 
  
    Finance lease