$GURE

GULF RESOURCES, INC.

CIK:0000885462|SEC Filings

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

NET REVENUE

$ 12,886,977

$ 8,343,785

$ 15,255,603

$ 9,948,232

OPERATING COSTS AND EXPENSE

Cost of revenues

(10,565,684)

(7,366,702)

(12,919,096)

(8,964,166)

Sales and marketing expenses

(18,174)

(14,802)

(23,622)

(19,855)

Direct labor and factory overheads incurred during plant shutdown

(452,949)

(727,774)

(3,196,211)

(3,953,582)

General and administrative expenses

(598,003)

(1,025,780)

(1,921,104)

(2,452,789)

TOTAL OPERATING COSTS AND EXPENSE

(11,634,810)

(9,135,058)

(18,060,033)

(15,390,392)

PROFIT (LOSS) FROM OPERATIONS

1,252,167

(791,273)

(2,804,430)

(5,442,160)

OTHER INCOME (EXPENSE)

Interest expense

(124,673)

(21,674)

(248,117)

(43,396)

Interest income

18,816

1,795

272,476

4,224

Other expenses, net

(3,117)

(3,212)

(3,117)

(3,212)

TOTAL OTHER INCOME, NET

(108,974)

(23,091)

21,242

(42,384)

INCOME (LOSS) BEFORE INCOME TAXES

1,143,193

(814,364)

(2,783,188)

(5,484,544)

INCOME TAX EXPENSE

NET INCOME (LOSS)

1,143,193

(814,364)

(2,783,188)

(5,484,544)

OTHER COMPREHENSIVE INCOME

- Foreign currency translation adjustments

1,796,405

388,050

3,676,943

636,971

TOTAL COMPREHENSIVE INCOME (LOSS)

$ 2,939,598

$ (426,314)

$ 893,755

$ (4,847,573)

BASIC LOSS PER SHARE

^[1]

$ 0.64

$ (0.60)

$ (1.65)

$ (4.32)

DILUTED LOSS PER SHARE

^[1]

$ 0.64

$ (0.60)

$ (1.65)

$ (4.32)

BASIC WEIGHTED AVERAGE NUMBER OF SHARES

^[1]

1,796,828

1,353,531

1,690,470

1,270,931

DILUTED WEIGHTED AVERAGE NUMBER OF SHARES

^[1]

1,796,828

1,353,531

1,690,470

1,270,931

[1]	The shares and per share data are presented on a retroactive basis to reflect the stock split.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (2,783,188)	$ (5,484,544)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Amortization on capital lease	123,980	121,954
Depreciation and amortization	6,795,623	6,450,581
Amortization of operating lease right-of-use assets	447,905	435,102
Amortization of finance lease right-of-use assets	1,478,008	1,549,239
Stock-based compensation expense		196,100
Bad debt expense	60,086
Changes in assets and liabilities:
Accounts receivable	(12,017,123)	(2,574,907)
Inventories	(231,319)	(197,631)
Prepayments and deposits	1,079,563	(2,331,871)
Other receivables	(720)	(11,447)
Accounts and other payable and accrued expenses	1,347,036	268,175
Taxes payable	235,556	182,919
Lease liabilities	(777,234)	(743,404)
Net cash used in operating activities	(4,241,827)	(2,139,734)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment	(1,699,835)
Repayments for loans to third parties	14,438,834
Interest-free loan repaid by related parties	10,155
Net cash provided by investing activities	12,749,154
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of finance leases obligation	(272,297)	(260,997)
Proceeds from sale of private placement units	556,191
Net cash provided by (used in) financing activities	283,894	(260,997)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	394,217	61,650
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	9,185,438	(2,339,081)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	3,793	10,075,162
CASH AND CASH EQUIVALENTS - END OF PERIOD	9,189,231	7,736,081
Cash paid during the six-month period ended June 30, for:
Paid for taxes	998,245	811,828
Interest paid	$ 200,730	$ 121,954

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash	$ 9,189,231	$ 3,793
Accounts receivable, net	15,475,127	3,269,420
Inventories, net	814,921	562,817
Prepayments and deposits	2,973,454	3,940,045
Amounts due from related parties	13,214	22,763
Other receivables	2,494,628	16,771,928
Total current assets	30,960,575	24,570,766
Non-Current Assets
Property, plant and equipment, net	58,870,828	61,944,100
Finance lease right-of-use assets	40,959,992	41,140,331
Operating lease right-of-use assets	5,570,840	5,669,794
Prepaid land leases, net of current portion	413,000	406,819
Deferred tax assets, net
Total non-current assets	105,814,660	109,161,044
Total Assets	136,775,235	133,731,810
Current Liabilities
Short-term bank borrowing	5,355,963	2,845,400
Accounts payable and accrued expenses	2,916,775	1,882,367
Accrued liabilities	515,666	499,688
Taxes payable-current	615,581	365,499
Amount due to related parties	1,910,732	1,896,831
Finance lease liabilities, current portion	211,682	228,918
Operating lease liabilities, current portion	162,222	523,847
Total current liabilities	11,688,621	8,242,550
Non-Current Liabilities
Finance lease liabilities, net of current portion	5,215,572	5,175,628
Operating lease liabilities, net of current portion	6,463,485	6,491,100
Long-term bank borrowing		2,344,610
Total non-current liabilities	11,679,057	14,011,338
Total Liabilities	23,367,678	22,253,888
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;1,842,114 and 1,568,114 shares issued; and 1,813,531 and 1,539,531 shares outstanding as of June 30, 2026 and December 31, 2025, respectively	921	784
Treasury stock; 28,583 shares as of June 30, 2026 and December 31, 2025 at cost	(1,372,673)	(1,372,673)
Additional paid-in capital	106,962,885	105,927,142
Retained earnings unappropriated	(10,309,535)	(7,526,347)
Retained earnings appropriated	26,667,097	26,667,097
Accumulated other comprehensive loss	(8,541,138)	(12,218,081)
Total Stockholders’ Equity	113,407,557	111,477,922
Total Liabilities and Stockholders’ Equity	$ 136,775,235	$ 133,731,810