Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 284

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 5
Chunk 284
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9

April 11, 2025

F-2 

GULF RESOURCES, INC.

AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

(Expressed in U.S. dollars)

    December 31, 2024 
    December 31, 2023
  
    Current Assets 

    Cash 
    $10,075,162  
    $72,223,894 
  
    Accounts receivable, net 
     564,523  
     4,865,696 
  
    Inventories, net 
     315,371  
     577,229 
  
    Prepayments and deposits 
     6,376,656  
     8,395,290 
  
    Amount due from related parties 
     25,040  
     — 
  
    Other receivables 
     94,074  
     7,482 
  
    Total current assets 
     17,450,826  
     86,069,591 
  
    Non-Current Assets 

    Property, plant and equipment, net 
     136,143,177  
     122,188,023 
  
    Finance lease right-of use assets 
     76,868  
     83,115 
  
    Operating lease right-of-use assets 
     6,169,855  
     6,699,784 
  
    Prepaid land leases, net of current portion 
     9,615,269  
     9,772,170 
  
    Deferred tax assets, net 
     —  
     1,859,025 
  
    Total non-current assets 
     152,005,169  
     140,602,117 
  
    Total Assets 
     169,455,995  
     226,671,708 

    Liabilities and Stockholders’ Equity 

    Current Liabilities 

    Accounts payable and accrued expenses 
    $14,323,458  
    $8,833,936 
  
    Taxes payable-current 
     113,999  
     475,630 
  
    Advance from customer 
     —  
     42,705 
  
    Amount due to related parties 
     2,584,808  
     2,586,658 
  
    Finance lease liability, current portion 
     217,