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GURE on Nasdaq

GULF RESOURCES, INC.

GULF RESOURCES, INC. is an American chemicals and allied products company based in Shouguang.2 Its shares trade on Nasdaq under the symbol GURE.2

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Last updated Oct 21, 2026.

Overview

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  • TickerGURE on Nasdaq2
  • IndustryChemicals & Allied Products2
  • HeadquartersShouguang, China2
  • Incorporated inNV3
  • Business addressLevel 11, Vegetable Building, Industrial Park Of The East City, Shouguang City, Shandong, F4 2627003
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI5299006K28K1C4YMDD182
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address4393 MARGATE LN, 48302 Bloomfield Hills, United States2
  • Registered withCorporations Division (Department of Licensing and Regulatory Affairs), 8006490652

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“tons” refers to metric tons, in each case, unless otherwise stated or the context requires otherwise.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-33.7%Operating margin5
-172.8%Net margin5
231.8%Revenue growth, 20255
-39.4%Return on equity5
-$1.0MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Bromine brought in 90% of the revenue GULF RESOURCES, INC. broke down this way in fiscal 2025.

  1. Bromine$23.0M590%up 314% from 2024
  2. Crude Salt$2.4M510%up 18% from 2024
Business segments by year
Business segments202320242025
Bromine$26.9M$5.5M$23.0M
Crude Salt$3.0M$2.0M$2.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs99¢$25.0M
  • Interest1¢$372.6K

Out of $25.4M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending100¢$8.8M

Out of $7.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5

Financial statements

Revenue6789105$25.4M in 2025+140% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $10.6M$10.6M20192020: $28.2M$28.2M2020+166%2021: $55.0M$55.0M2021+95%2022: $66.1M$66.1M2022+20%2023: $30.0M$30.0M2023−55%2024: $7.7M$7.7M2024−75%2025: $25.4M$25.4M2025+232%
Operating income6789105-$8.6M in 2025−63% since 2019
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2019: -$23.3M-$23.3M20192020: -$9.7M-$9.7M2020−58%2021: $5.2M$5.2M20212022: $16.5M$16.5M2022+216%2023: -$11.9M-$11.9M20232024: -$22.2M-$22.2M2024+87%2025: -$8.6M-$8.6M2025−61%
Net income6789105-$43.9M in 2025+70% since 2019
-$80.0M-$60.0M-$40.0M-$20.0M0$20.0M2019: -$25.8M-$25.8M20192020: -$8.4M-$8.4M2020−67%2021: -$924.7K-$924.7K2021−89%2022: $10.1M$10.1M20222023: -$61.8M-$61.8M20232024: -$59.9M-$59.9M2024−3%2025: -$43.9M-$43.9M2025−27%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
NET REVENUE$25.4M$7.7M
Cost of revenues-$23.3M-$14.7M
Sales and marketing expenses-$49.9K-$46.3K
Direct labor and factory overheads incurred during plant shutdown-$5.1M-$8.9M
General and administrative expenses-$5.6M-$6.2M
TOTAL OPERATING COSTS AND EXPENSE-$34.0M-$29.9M
LOSS FROM OPERATIONS-$8.6M-$22.2M
Interest expense-$372.6K-$91.9K
Interest income$427.4K$80.3K
Other expenses, net-$4.0M-$50.5K
Impairment of long-lived assets-$30.1M-$6.8M
Loss on disposal of long-lived assets-$2.0M-$29.2M
Gain on disposal of subsidiary$674.8K
INCOME BEFORE INCOME TAXES-$43.9M-$58.3M
INCOME TAX EXPENSE-$1.6M
NET LOSS-$43.9M-$59.9M
- Foreign currency translation adjustments$2.7M-$2.7M
TOTAL COMPREHENSIVE LOSS-$41.2M-$62.6M
BASIC LOSS PER SHARE-$32.95-$54.88
DILUTED LOSS PER SHARE-$32.95-$54.88
BASIC WEIGHTED AVERAGE NUMBER OF SHARES1.3M shares1.1M shares
DILUTED WEIGHTED AVERAGE NUMBER OF SHARES1.3M shares1.1M shares

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Corporate structure

GULF RESOURCES, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of GULF RESOURCES, INC.

  • Thomas Garry Larossa Filed SC 13G on GULF RESOURCES, INC., latest Sep 29, 2023
  • GULF RESOURCES, INC. Shouguang, China

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What GULF RESOURCES, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Buildings and improvements$68.5M5 Dec 31, 2024$29.9M13 Dec 31, 2023+129.3%
Furniture and fixtures$833.0K5 Dec 31, 2025$1.4M5 Dec 31, 2024−42.0%
Leasehold improvements$13.1M5 Dec 31, 2025$3.5M5 Dec 31, 2024+272.2%
Construction in progress$10.2M5 Dec 31, 2024$10.3M10 Dec 31, 2023−1.5%
Property and equipment, before depreciation$141.8M5 Dec 31, 2025$161.7M5 Dec 31, 2024−12.3%
Accumulated depreciation$79.6M5 Dec 31, 2025$65.6M5 Dec 31, 2024+21.4%
Property and equipment, net$61.9M5 Dec 31, 2025$89.4M5 Dec 31, 2024−30.7%
Finance-lease assets$41.1M5 Dec 31, 2025$45.2M5 Dec 31, 2024−8.9%
Operating-lease assets (leased space)$5.7M5 Dec 31, 2025$6.2M5 Dec 31, 2024−8.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$562.8K5 Dec 31, 2025$315.4K5 Dec 31, 2024+78.5%
Raw materials$20.1K5 Dec 31, 2025$10.6K5 Dec 31, 2024+89.2%
Finished goods$838.4K5 Dec 31, 2025$1.5M5 Dec 31, 2024−45.8%

Properties, in its own words

FIGURE 2.1 - REGIONAL MAP OF MINING PROPERTIES

FIGURE 2.2 – DETAILED MAP OF MINING PROPERTIES

The rest of Item 2

We do not own any land, although we do own some of the buildings on land we lease. Our executive offices are located at Level 11, Vegetable Building, Industrial Park of the East in Shouguang City, Shandong Province, P.R.C, which also is the headquarters of SCHC, SHSI and SYCI (it had been sold in December, 2025). These offices were purchased from Shandong Shouguang Vegetable Seed industry Group Co., Ltd.

SYCI concentrates its efforts on the production and sale of chemical products that are used in oil and gas field exploration, oil and gas distribution, oil field drilling, papermaking chemical agents, and manufacture and sell materials that are used for human and animal antibiotics in China. Currently, SYCI is closed according to the November 2017 Letter and currently under construction at Bohai Marine Fine Chemical Industry Park, Shouguang City, Shandong Province, China, where SYCI will be relocated to.

DCHC is a registered company exploring and developing natural gas and brine resources (including bromine and crude salt) in China located in No.14 team, Liguanggou Village, Tianbao Township, Daying County, Suining City, Sichuan Province, China.

In the first quarter of 2018, six out of its ten bromine factories completed their rectification process within factory areas (i.e. excluding crude salt field area) and were approved and scheduled for production commencement by April 2018 as verbally indicated by the local government. The remaining four factories were still undergoing rectification at that time. Three factories (Factory No. 3, Factory No. 4 and Factory No. 11) had to be demolished in September 2018 as required by the government and rectification for Factory No. 10 was completed in November 2018.

The Company operates its bromine and crude salt production facilities through its wholly-owned subsidiary SCHC. SCHC has land use rights to one property (10,790 square meters, or approximately 3 acre) as bromine production area for Factory No. 1 and land lease contracts to seven properties (approximately 17,816 acre), totaling nearly 17,819 acres, located on the south bank of Laizhou Bay on the Shandong Peninsula of the People’s Republic of China. Each of the properties is accessible by road. The Yiyang railway line is within 50 kilometers and the Yangkou port is five kilometers away.

Each of the seven properties contains natural brine deposits which are extracted through wells and are used to extract bromine and produce crude salt. Bromine is a simple molecular element which is produced by extracting the bromine ion from natural brine. Crude salt is sodium chloride. Bromine is an important chemical raw material in flame retardants, fire extinguishing agents, refrigerants, photographic materials, pharmaceuticals, pesticides, and oil and other industries. Crude salt, also known as industrial salt, is used in a wide range of chemical industries, is the major raw material in the soda and chlor-alkali industries and can be widely used in agricultural, animal husbandry, fisheries and food processing industries. Crude salt is also the main raw material for edible salt.

Nature of Ownership Interest in the Properties

All of the land in the PRC is owned by the state. Individuals and companies are permitted to acquire rights to use land or land use rights for specific purposes at no cost. In the case of land used for industrial purposes, the land use rights are granted for a period of 50 years. This period may be renewed at the expiration of the initial and any subsequent terms. Granted land use rights are transferable and may be used as security for borrowings and other obligations. The Company does not own any land but has entered into contracts with the local government and original owners of the land use rights to acquire their rights for a period of 50 years. The contracts required us to pay a one-time fee plus an annual rent.

Mineral Rights

The Chinese and provincial governments have enacted a series of laws and regulations relating to the natural resources sector over the past 20 years, including laws and regulations designed to improve safety and decrease environmental degradation. The “China Mineral Resources Law” declares state ownership of all mineral resources in China. However, mineral exploration rights can be purchased, sold and transferred to both domestic and foreign owned companies. Mineral resource rights are granted by the central government permitting recipients to conduct mineral resource activities in a specific area during the license period. These rights entitle the licensee to undertake mineral resource activities and infrastructure and ancillary work, in compliance with applicable laws and regulations, within the specific area covered by the license during the license period. The licensee is required to submit a proposal and feasibility studies to the relevant authority and to pay the central government a natural resources tax levied at 8% of sales. The Company was exempt from paying the fee prior to January 1, 2008. Shandong province has determined that bromine is to be extracted only by licensed entities.

Item 2 of the 10-K filed Aug 17, 2026.4

Leadership

Who has led GULF RESOURCES, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ming Yang2007

Chair

  1. Ming Yang2007

President

  1. Juxiang Yu2006

Chief financial officer

  1. Naihui Miao2012–2015

Chief operating officer

  1. Naihui Miao2010–now
2010201520202025
Board members and other officers (9)

Former names

  • DIVERSIFAX INCOct 15, 1996 to Feb 20, 20073

Timeline

  1. Oct 15, 20268-K Other events26
  2. Oct 6, 20268-K Other events27
  3. Sep 3, 20268-K Listing notice or transfer28
  4. Aug 28, 20268-K Listing notice or transfer29
  5. Aug 26, 20268-K Other events30
  6. Jun 30, 20268-K Listing notice or transfer31
  7. Jun 4, 20268-K Earlier financial statements no longer reliable32
  8. May 29, 20268-K Listing notice or transfer33
  9. May 19, 20268-K Other events34
  10. Apr 27, 20268-K Listing notice or transfer35
  11. Apr 14, 20268-K Other events36
  12. Apr 2, 20268-K Entered a material agreement; Unregistered sale of shares37
  13. Feb 13, 2007New chief executive Ming Yang becomes CEO14

Calendar

Coming up

  1. Nov 18, 2026Reports results for the quarter ending Sep/202638

When it reported results

  1. Aug 13, 2025Reported quarterly or annual results39
  2. May 13, 2025Reported quarterly or annual results40
  3. Nov 19, 2024Reported quarterly or annual results41
  4. Nov 20, 2023Reported quarterly or annual results42
  5. Aug 14, 2023Reported quarterly or annual results43
  6. May 15, 2023Reported quarterly or annual results44
  7. Mar 31, 2023Reported quarterly or annual results45
  8. Nov 14, 2022Reported quarterly or annual results46

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

157 filings to the SEC since October 2021: 8 annual reports, 18 quarterly reports, 60 major events, 47 insider forms, 1 large holders, 23 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 6, 20268-K EDGAR
  3. Oct 2, 2026DEF 14A EDGAR
  4. Sep 30, 202610-Q EDGAR
  5. Sep 30, 202610-Q/A EDGAR
  6. Sep 30, 202610-Q/A EDGAR
  7. Sep 30, 202610-Q/A EDGAR
  8. Sep 29, 202610-K/A EDGAR
  9. Sep 3, 20268-K EDGAR
  10. Aug 28, 202610-Q EDGAR
  11. Aug 28, 20268-K EDGAR
  12. Aug 26, 20268-K EDGAR
  13. Aug 24, 202610-K/A EDGAR
  14. Aug 17, 202610-K EDGAR
  15. Aug 13, 2026NT 10-Q EDGAR
  16. Jul 27, 202610-K/A EDGAR
  17. Jun 30, 20268-K EDGAR
  18. Jun 4, 20268-K EDGAR
  19. May 29, 20268-K EDGAR
  20. May 19, 20268-K EDGAR

The 157 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

14 open-market trades by officers, directors and large owners since October 2021: 0 buys and 14 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 20, 2023Miao NaihuiCOO & SecretarySale110,000$2.50$275.0KForm 4
Dec 20, 2023Liu XiaobinChief Executive OfficerSale110,000$2.50$275.0KForm 4
Dec 20, 2023Li MinChief Financial OfficerSale110,000$2.50$275.0KForm 4
Jun 22, 2023Zhang TengfeiDirectorSale2,000$2.51$5.0KForm 4
Dec 20, 2022Ma ShengweiDirectorSale2,000$3.00$6.0KForm 4
Nov 30, 2022Miao NaihuiCOO & SecretarySale80,000Form 4
Nov 30, 2022Li MinChief Financial OfficerSale80,000Form 4
Nov 30, 2022Liu XiaobinChief Executive OfficerSale80,000Form 4
Sep 15, 2022Li MinChief Financial OfficerSale20,000$3.66$73.2KForm 4
Sep 12, 2022Liu XiaobinChief Executive OfficerSale20,000$3.88$77.6KForm 4
Sep 8, 2022Miao NaihuiCOO & SecretarySale20,000$3.99$79.8KForm 4
Dec 17, 2021Liu XiaobinChief Executive OfficerSale10,000$4.60$46.0KForm 4
Dec 15, 2021Miao NaihuiCOO & SecretarySale10,000$4.61$46.1KForm 4
Dec 13, 2021Li MinChief Financial OfficerSale10,000$5.04$50.4KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Thomas Garry LarossaSC 13G, 1 filing Sep 29, 202347

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025CFO$17.1K$191.6K48
2025COO$17.1K$191.6K48
2025CEO$174.5K$174.5K48
2024Min Li$16.7K$16.7K48
2024Naihui Miao58$16.7K$16.7K48
2024Xiaobin Liu58$148

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Citadel Advisors LLC32,538$118.8K0.0%+10,491
Two Sigma Investments, LP14,652$53.5K0.0%−2,931
Lanark Financial, Inc.45$1640.0%No change
International Assets Investment Management, LLC10$360.0%No change
Caitong International Asset Management Co., Ltd3$110.0%New
SBI Securities Co., Ltd.1$40.0%New
BlackRock, Inc.1$40.0%No change
Osaic Holdings, Inc.1$30.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How GULF RESOURCES, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGULF RESOURCES, INC.1
  • CIK0000885462
  • Employer ID (EIN)13-36374584
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inNevada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2800 Chemicals & Allied Products1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business addressLevel 11, Vegetable Building, Industrial Park Of The East City, Shouguang City, Shandong, F4 2627001
  • Phone86 (536) 567-00081
  • Shares outstanding1,813,531 as of Sep 29, 202612
  • Public float$6.8M as of Jun 30, 20254
  • AuditorGGF CPA LTD, Guangzhou, Guangdong, China PCAOB ID 2729; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 14, 19961
  • Filings724 in all: 8-K (240), 4 (165), 10-Q (56), DEF 14A (20), 10-K (19), 3 (19), 10QSB (17), 8-K/A (14)1
    All 45 form types

    UPLOAD (14), SC 13D (13), NT 10-Q (11), 10-K/A (10), CORRESP (9), S-8 (9), 10-Q/A (8), NT 10-K (8), 10QSB/A (7), PRE 14A (7), 10KSB (6), DEFA14A (6), 10KSB/A (5), S-3 (5), S-3/A (5), SC 13D/A (5), 424B3 (4), DEF 14C (4), PRE 14C (4), SC 13G/A (4), DEFR14A (3), EFFECT (3), RW (3), SC 13G (3), 4/A (2), POS AM (2), S-8 POS (2), SB-2 (2), SC 14F1 (2), 3/A (1), 5 (1), 8-A12B (1), CERTNAS (1), D (1), NT 10-Q/A (1), PRER14A (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Aug 17, 2026
    Quarterly report (10-Q) Sep 30, 2026
    Proxy statement (DEF 14A) Oct 2, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0005 par valueGURENasdaq

From the cover page of the 10-K filed Aug 17, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

Legal proceedings

We are currently not a party to any legal or administrative proceedings and are not aware of any pending or threatened legal or administrative proceedings against us in all material aspects other than the legal proceeding disclosed below. We may from time to time become a party to various legal or administrative proceedings arising in the ordinary course of our business, other than the following:

On or about August 3, 2018, written decisions of administration penalty captioned Shou Guo Tu Zi Fa Gao Zi [2018] No. 291, Shou Guo Tu Zi Fa Gao Zi [2018] No. 292, Shou Guo Tu Zi Fa Gao Zi [2018] No. 293, Shou Guo Tu Zi Fa Gao Zi [2018] No. 294, Shou Guo Tu Zi Fa Gao Zi [2018] No. 295 and Shou Guo Tu Zi Fa Gao Zi [2018] No. 296 (together, the “Written Decisions”) were served on Shouguang City Haoyuan Chemical Company Limited (“SCHC”) by the Shouguang City Natural Resources and Planning Bureau (the “Bureau”), naming SCHC as respondent. For more details and information related to the Written Decisions, please see “Note 24 – Loss Contingencies, Notes to Consolidated Financial Statement” contained in this annual report.

Shandong Shouguang Vegetable Industry Group Co., Ltd. and Shandong Shouguang Vegetable Seed Group Co., Ltd. owe RMB15.0 million (Approximate $2.12 million) and RMB10.0 million (Approximate $1.41 million) to Shandong Deepin City Investment Emergency Lending Fund, respectively. A total of nine companies and individuals provided guarantee to these loans, including Shouguang Haoyuan Chemical Co., Ltd. and Shouguang Yuxin Chemical Co., LTD. However, considering the number of guarantors, the total amount of available fund indicated by Shandong Shouguang Vegetable Industry Group Co., Ltd. and legal advice, Gulf Resources believes that this guaranteed loan has limited impact on the company.

The opening of Item 3, Legal Proceedings.4

Sources

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