# EDGAR Filing Document

**Accession Number:** 0000885462
**File Stem:** 0001193805-25-001185
**Filing Date:** 2025-8
**Character Count:** 18643
**Document Hash:** d78f5fac1c8d7a9240cb48fd7bfa19d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193805-25-001185.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0001193805-25-001185

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250813

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GULF RESOURCES, INC.
- **CENTRAL INDEX KEY:** 0000885462
- **STANDARD INDUSTRIAL CLASSIFICATION:** CHEMICALS & ALLIED PRODUCTS [2800]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 133637458
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34499
- **FILM NUMBER:** 251212485

**BUSINESS ADDRESS:**
- **STREET 1:** LEVEL 11, VEGETABLE BUILDING
- **STREET 2:** INDUSTRIAL PARK OF THE EAST CITY
- **CITY:** SHOUGUANG CITY, SHANDONG
- **STATE:** F4
- **ZIP:** 262700
- **BUSINESS PHONE:** 86 (536) 567-0008

**MAIL ADDRESS:**
- **STREET 1:** LEVEL 11, VEGETABLE BUILDING
- **STREET 2:** INDUSTRIAL PARK OF THE EAST CITY
- **CITY:** SHOUGUANG CITY, SHANDONG
- **STATE:** F4
- **ZIP:** 262700

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DIVERSIFAX INC
- **DATE OF NAME CHANGE:** 19940331

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

WASHINGTON, D.C. 20549

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act 1934**

Date of Report (date of earliest event reported): August 13, 2025

**Gulf Resources, Inc.**

(Exact name of registrant as specified in charter)

**Nevada**

(State or other jurisdiction of incorporation)

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| | |
|:---|:---|
| **000-20936**<br> (Commission File Number) | **13-3637458**<br> (IRS Employer Identification No.) |

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**Level 11,Vegetable Building, Industrial Park of the East City, Shouguang City, Shandong, China 262700**

------

(Address of principal executive offices and zip code)

**+86 (536) 567 0008**

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(Registrant's telephone number including area code)

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(Registrant's former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.0005 par value | GURE | NASDAQ Capital Market |

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On August 13, 2025, Gulf Resources, Inc. (the "Company") issued a press release announcing its second quarter and three months ended June 30, 2025 unaudited financial results. The full text of the press release is set forth in Exhibit 99.1 attached hereto.

As provided in General Instruction B.2 of SEC Form 8-K, such information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and it shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in such filing to this Current Report on Form 8-K.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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Exhibits

99.1 [Press Release of Gulf Resources, Inc. dated August 13, 2025.](e664781_ex99-1.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| GULF RESOURCES, INC. | GULF RESOURCES, INC. |
| By: | /s/ Min Li |
| Name: | Min Li |
| Title: | Chief Financial Officer |

---

Dated: August 13, 2025

## Exhibit 99.1

![](image_001.jpg)

Gulf Resources, Inc. Announces Second Quarter 2025 Unaudited Financial Results

SHOUGUANG, China, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources," "we," or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China today announced its unaudited financial results for the three months ended June 30, 2025.

The company reported:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Net Revenue increased by 250% to $8,343,785 from $2,383,169 in the previous year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Gross profits increased to $986,655 from a loss of $2,728,889.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The loss from operations was $750,686 compared to a loss of $5,146,997.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The net loss was $773,777 versus a net loss of $33,097,918 in the previous period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Loss per share was $0.06 versus a loss of $3.09 in the previous period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Negative cash flow for the 6 months of 2025 was sharply reduced from $61,856,355 to $2,339,081.

**On a segment basis**

Bromine

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Bromine sales increased by 313% to $7,676,374 from $1,859,234.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Volume increased by 152% to 1,972 tonnes from 782 tonnes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Cost of net revenue increased by 48% to $7,016,815 from $4,729,059 .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Gross profit was $659,559 versus a loss of $2,869,825 in the previous period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Net loss for the quarter was $130,381 versus a net loss of $4,662,586 in the previous year.

Crude Salt

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Crude Salt revenues increased by 27% to $667,411 from $523,935.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Volume increased by 4% to 25,934 tonnes from 24,852 tonnes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Cost of revenue declined by 11% to $340,315 from $382,999.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Gross profit increased by 132% to $327,096 from $140,936.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Net loss for the quarter was $147,489 versus a profit of $130,024 in the previous year.

Chemicals & Natural gas, neither of which was operational, combined lost $388,202 vs. a loss of $413,027 in the previous year.

**Updates on Current Business**

During the three months ended June 30, 2025, bromine pricing exhibited significant volatility. On March 31, 2025, the last day of the first quarter of 2025, the price of bromine was RMB 29,000 per tonne. By April 14, bromine had reached a price of RMB 37,500 per tonne. By May 14, the price of bromine had declined to RMB 23,100 per tonne. At the end of the second quarter, bromine was priced at RMB 24,686 per tonne. Since the end of the second quarter, bromine prices have increased consistently to RMB 29,200 per tonne on August 12. The Company anticipates that this price recovery, coupled with increasing overall demand, represents a potentially sustainable market trend. (Source: sunsirs.com)

The Company has initiated development activities on the crude salt fields acquired in the prior year. These assets are expected to enhance both salt and bromine production capacity and may facilitate the reopening of manufacturing facilities #2 and #10, which remain temporarily closed.

The chemicals segment operations remain suspended pending improved market conditions. Given the challenging profitability environment faced by many chemical manufacturers, management has elected to defer completion of the remaining chemical factory construction until market conditions present opportunities for sustainable profitability.

Natural gas operations also remain inactive while awaiting completion of provincial planning initiatives in Sichuan Province. Given China's increasing natural gas demand, the Company continues monitoring regulatory developments and evaluating potential joint venture opportunities in this sector.

Mr. Liu Xiaobin, the CEO and Chairman of Gulf Resources, stated, "We are becoming more optimistic about our business. We see signs of stabilization in the Chinese economy. Many of our competitors in bromine and crude salt have closed their factories. Demand is increasing as are prices. These conditions auger well for the third quarter and coming quarters. We should start to see benefits from the acquisition of the new salt fields."

"We continue to believe," Mr. Liu continued, "that we will find opportunities in chemicals and natural gas. However, right now, we are focused on generating profits and free cash flow from our bromine and crude salt segments, and confident that this will occur in the near future."

---

| | | |
|:---|:---|:---|
| GULF RESOURCES, INC. AND SUBSIDIARIES <br>CONDENSED CONSOLIDATED BALANCE SHEETS |  |  |
| (Expressed in U.S. dollars) |  |  |
|  | June 30, 2025 <br>(Unaudited) | December 31, 2024 (Audited) |
| Current Assets |  |  |
| Cash | $7736081 | $10075162 |
| Accounts receivable, net | 3150850 | 564523 |
| Inventories, net | 515013 | 315371 |
| Prepayments and deposits | 8743324 | 6376656 |
| Amount due from related parties | 25144 | 25040 |
| Other receivable | 105564 | 94074 |
| Total Current Assets | 20275976 | 17450826 |
| Non-Current Assets |  |  |
| Property, plant and equipment, net | 128694551 | 136143177 |
| Finance lease right-of use assets | 74668 | 76868 |
| Operating lease right-of-use assets | 5937515 | 6169855 |
| Prepaid land leases, net of current portion | 9648863 | 9615269 |
| Deferred tax assets, net |  |  |
| Total non-current assets | 144355597 | 152005169 |
| Total Assets | $164631573 | $169455995 |
| Liabilities and Stockholders' Equity |  |  |
| Current Liabilities |  |  |
| Accounts payable and accrued expenses | $11551878 | $14323458 |
| Taxes payable-current | 298037 | 113999 |
| Advance from customer |  |  |
| Amount due to related parties | 2589489 | 2584808 |
| Finance lease liability, current portion | 188550 | 217743 |
| Operating lease liabilities, current portion | 162134 | 491850 |
| Total Current Liabilities | 14790088 | 17731858 |
| Non-Current Liabilities |  |  |
| Finance lease liability, net of current portion | 891801 | 1075865 |
| Operating lease liabilities, net of current portion | 6734859 | 6941602 |
| Total Non-Current Liabilities | 7626660 | 8017467 |
| Total Liabilities | $22416748 | $25749325 |
| Commitment and Loss Contingencies | $— | $— |
| Stockholders' Equity |  |  |
| PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding | $— | $— |
| COMMON STOCK; $0.0005 par value; 80,000,000 shares authorized; 13,632,448 and 11,012,754 shares issued; <br>and 13,346,618 and 10,726,924 shares outstanding as of June 30, 2025 and <br>December 31, 2024 | 25934 | 24623 |
| Treasury stock; 285,830 shares as of June 30, 2025 and December 31, 2024 at cost | (1372673) | (1372673) |
| Additional paid-in capital | 105167292 | 101688262 |
| Share to be issued |  | 194700 |
| Retained earnings unappropriated | 31955527 | 37358804 |
| Retained earnings appropriated | 26667097 | 26667097 |
| Accumulated other comprehensive income | (20228352) | (20854143) |
| Total Stockholders' Equity | 142214825 | 143706670 |
| Total Liabilities and Stockholders' Equity | $164631573 | $169455995 |

---

GULF RESOURCES, INC.

AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

(Expressed in U.S. dollars) (UNAUDITED)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Three-Month Period Ended June 30, | Three-Month Period Ended June 30, | Six-Month Period Ended June 30, | Six-Month Period Ended June 30, |
|  | 2025 | 2024 | 2025 | 2024 |
| NET REVENUE | $8343785 | $2383169 | $9948232 | $3690231 |
| OPERATING COSTS AND EXPENSE |  |  |  |  |
| Cost of net revenue | (7357130) | (5112058) | (8951400) | (7231903) |
| Sales and marketing expenses | (14802) | (13633) | (19855) | (18124) |
| Direct labor and factory overheads incurred during plant shutdown | (727774) | (1714503) | (3953582) | (5449192) |
| General and administrative expenses | (994765) | (689972) | (2384288) | (1407428) |
| TOTAL OPERATING COSTS AND EXPENSE | (9094471) | (7530166) | (15309125) | (14106647) |
| LOSS FROM OPERATIONS | (750686) | (5146997) | (5360893) | (10416416) |
| OTHER INCOME (EXPENSE) |  |  |  |  |
| Interest expense | (21674) | (24814) | (43396) | (49644) |
| Interest income | 1795 | 34791 | 4224 | 70851 |
| Other expense, net | (3212) |  | (3212) | (4003) |
| Loss on disposal of property, plant and equipment |  | (29169008) |  | (29169008) |
| Loss before taxes | (773777) | (34306028) | (5403277) | (39568220) |
| INCOME TAX BENEFIT (EXPENSE) |  | 1208110 |  | 2478170 |
| NET LOSS | $(773777) | $(33097918) | $(5403277) | $(37090050) |
| COMPREHENSIVE LOSS |  |  |  |  |
| NET LOSS | $(773777) | $(33097918) | $(5403277) | $(37090050) |
| - Foreign currency translation adjustments | 403775 | (849254) | 625791 | (1243121) |
| TOTAL COMPREHENSIVE LOSS | $(370002) | $(33947172) | $(4777486) | $(38333171) |
| BASIC AND DILUTED LOSS PER |  |  |  |  |
| SHARE: | $(0.06) | $(3.09) | $(0.43) | $(3.46) |
| BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES: | 13346618 | 10726924 | 12520613 | 10726924 |

---

GULF RESOURCES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Expressed in U.S. dollars) (UNAUDITED)

---

| | | |
|:---|:---|:---|
|  | Six-Month Period Ended June 30, | Six-Month Period Ended June 30, |
|  | 2025 | 2024 |
| CASH FLOWS FROM OPERATING ACTIVITIES |  |  |
| Net Loss | $(5403277) | $(37090050) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |  |  |
| Amortization on capital lease | 43396 | 49644 |
| Depreciation and amortization | 7997410 | 9467311 |
| Deferred tax asset |  | (2511394) |
| Stock-based compensation expense | 196100 |  |

---

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| | | |
|:---|:---|:---|
| Amortization of right-of-use asset | 435102 | 440030 |
| Loss on disposal of equipment |  | 29169008 |
| Changes in assets and liabilities: |  |  |
| Accounts receivable | (2574907) | 3108788 |
| Inventories | (197631) | 160396 |
| Prepayments and deposits | (2331871) | 68895 |
| Advance from customers |  | (27000) |
| Other receivables | (11447) | 4854 |
| Accounts and Other payable and accrued expenses | 268175 | (2583610) |
| Amount due to related Parties |  |  |
| Taxes payable | 182919 | (315782) |
| Lease Liabilities | (743404) | (753231) |
| **Net cash used in operating activities** | (2139435) | (812141) |
| CASH FLOWS FROM INVESTING ACTIVITIES |  |  |
| Purchase of property, plant and equipment |  | (60526213) |
| **Net cash provided by (used in) investing activities** |  | (60526213) |
| CASH FLOWS FROM FINANCING ACTIVITIES |  |  |
| Repayment of finance lease obligation | (260997) | (264094) |
| **Net cash used in financing activities** | (260997) | (264094) |
| EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 61351 | (253907) |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (2339081) | (61856355) |
| CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD | 10075162 | 72223894 |
| CASH AND CASH EQUIVALENTS - END OF PERIOD | $7736081 | $10367539 |

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| | | |
|:---|:---|:---|
| GULF RESOURCES, INC. AND SUBSIDIARIES <br>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) <br>(Expressed in U.S. dollars) |  |  |
|  | 2025 | 2024 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION |  |  |
| Cash paid during the six-month period ended June 30, 2025 for: |  |  |
| Paid for taxes | $811828 | $886928 |
| Interest on finance lease obligation | $43396 | $49644 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING <br>ACTIVITIES |  |  |

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**About Gulf Resources, Inc.**

Gulf Resources, Inc. operates through four wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited ("SCHC"), Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"), Daying County Haoyuan Chemical Company Limited ("DCHC") and Shouguang Hengde Salt Industry Co. Ltd. ("SHSI"). The Company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the Company manufactures chemical products utilized in a variety of applications, including oil and gas field explorations and papermaking chemical agents, and materials for human and animal antibiotics. Through SHSI, the Company manufactures and sells crude salt. DCHC was established to further explore and develop natural gas and brine resources (including bromine and crude salt) in China. For more information, visit www.gulfresourcesinc.com.

**Forward-Looking Statements**

beishengrong@vip.163.com