Company: GURE
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001193805-25-000638
Chunk: 25

Company: GULF RESOURCES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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4 and no amounts accrued for penalties and interest for the three
months ended March 31, 2025 and 2024.

NOTE 17 - BUSINESS SEGMENTS

The Company has fourreportable segments: bromine,
crude salt, chemical products and natural gas. The reportable segments are consistent with how management views the markets served by
the Company and the financial information that is reviewed by its chief operating decision maker.

An operating segment’s performance is primarily
evaluated based on segment operating income, which excludes share-based compensation expense, certain corporate costs and other income
not associated with the operations of the segment. These corporate costs (income) are separately stated below and also include costs that
are related to functional areas such as accounting, treasury, information technology, legal, human resources, and internal audit. The
Company believes that segment operating income, as defined above, is an appropriate measure for evaluating the operating performance of
its segments. All the customers are located in PRC.

  Three-Month Period Ended March 31, 2025 Operating Segment                                                                                                                  
  Net revenue                                                    1,481,869        122,578         —               —             1,604,447        —              1,604,447    
  (external customers)                                                                                                                                                       
  Net revenue                                                    —                —               —               —             —                —              —            
  (intersegment)                                                                                                                                                             
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Loss from operations before income expense                     ( 3,370,836      ( 554,062       ( 358,629       ( 44,844      ( 4,328,371      ( 281,836      ( 4,610,207  
  Income tax (expense) benefit                                   —                —               —               —             —                —              —            
  Loss from operations after income taxes(expense) benefit       ( 3,370,836      ( 554,062       ( 358,629       ( 44,844      ( 4,328,371      ( 281,836      ( 4,610,207  
  Total assets                                                   79,995,961       46,300,814      38,410,493      929,031       165,636,299      93,640         165,729,939  
  Depreciation and amortization                                  3,258,