Every 10-Q that Gulf Resources, Inc. (NV) (GURE) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GURE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GURE filings page.
Gulf Resources, Inc. reported second-quarter revenue of $12,886,977, compared with $8,343,785 in the restated 2025 quarter, and net income of $1,143,193, versus a net loss of $814,364. Operating income was $1,252,167, compared with an operating loss of $791,273. Bromine generated $12,244,273 of quarterly revenue and crude salt $642,704.
For the six months ended June 30, 2026, revenue was $15,255,603 versus $9,948,232, while the company recorded a net loss of $2,783,188 compared with a restated $5,484,544 loss. Operating activities used $4,241,827 of cash, versus $2,139,734 in the 2025 period; cash stood at $9,189,231 on June 30.
Four private placements issued 274,000 shares between February and April 2026. The chemical factory relocation is estimated to cost approximately $69 million in total; $45,584,344 in relocation costs was recorded across prepaid land leases, prepayments and deposits, and property, plant and equipment. The company completed the sale of SYCI on December 22, 2025, for $2,999,304.
Gulf Resources, Inc. (GURE) amended its quarterly report for the three months ended March 31, 2026, revising specified financial-statement notes and risk disclosures following a restatement of its March 31, 2025 quarterly report. The company says the original financial statements should no longer be relied upon because of errors described in the amendment.
First-quarter 2026 revenue was $2.37 million, versus $1.60 million in restated first-quarter 2025, while net loss narrowed to $3.93 million from $4.67 million. Operating cash flow was $1.09 million provided, compared with $1.58 million used a year earlier. GURE sold 66% of its products to its top five customers during the quarter.
GURE issued 69,000 shares at $3.57 each for $246,330 on February 10, 2026, and 75,000 shares at $3.57 each for $267,750 on March 24, 2026, under private placements. A loan from Shandong Shouguang Industrial and Commercial Bank Co., Ltd. with principal of $2.89 million passed its December 26, 2025 maturity and remained unpaid as of March 31, 2026.
Gulf Resources, Inc. (GURE) amended its report for the quarter ended June 30, 2025, in response to SEC comment letters, revising financial-statement notes and risk disclosures. It says errors mean the original financial statements should no longer be relied upon; the amendment should be read with the original report.
For the three months ended June 30, 2025, revenue was $8,343,785, versus $2,383,169 a year earlier, while net loss was $814,364 versus $33,097,918. For the six months, revenue was $9,948,232 versus $3,690,231 and net loss was $5,484,544 versus $37,090,050. Operating cash use was $2,139,734, compared with $812,141.
At June 30, 2025, cash was $7,736,081, current assets were $20,275,976 and current liabilities were $10,001,448. Gulf Resources said significant doubts remain about its ability to continue operations, and the statements do not reflect potential effects if it cannot continue as a going concern.
Gulf Resources, Inc. amended its first-quarter 2025 report with restated financial statements and revised notes and risk disclosures in response to SEC staff comments. It says the original financial statements should no longer be relied upon because of errors.
For the three months ended March 31, 2025, revenue was $1,604,447, compared with $1,307,062 a year earlier, while net loss was $4,670,180 versus $3,992,132. Net cash used in operating activities was $1,580,128, compared with $1,330,476; cash was $8,523,045 at March 31, 2025.
At March 31, 2025, Gulf Resources reported current assets of $17.64 million and current liabilities of $10.47 million, a stated $7.17 million surplus, but said significant doubts remain about its ability to continue operations. The relocation project is estimated to cost approximately $69 million; new chemical factory construction remains suspended while it evaluates which products can be produced most profitably. On February 28, 2025, it issued 205,969 post-reverse-split common shares for crude-salt field acquisitions. Gulf Resources reported regaining minimum-bid-price compliance for continued Nasdaq Capital Market listing on December 1, 2025.
Gulf Resources, Inc. (GURE) reported higher net revenue but continued losses for the quarter ended March 31, 2026. Net revenue rose to $2.37 million from $1.60 million a year earlier, mainly from the bromine and crude salt segments, while the chemical products segment had no revenue.
The company recorded a net loss of $3.93 million, an improvement from a $4.63 million loss in 2025, as operating loss narrowed and foreign currency translation produced other comprehensive income. Total assets were $132.8 million and stockholders’ equity $109.9 million, reflecting a largely equity-funded balance sheet.
Operating cash flow turned positive at $1.09 million versus an outflow previously, aided by non‑cash depreciation and working capital movements. Cash increased sharply to $6.54 million, helped by $5.03 million of loan repayments from third parties and $0.28 million from private placement units, while short‑term bank borrowing increased and one bank loan principal became past due.
Gulf Resources’ Q3 2025 results show severe losses driven by asset write-downs despite strong revenue growth. Net revenue for the quarter rose to $9,044,581 from $2,242,365 a year earlier, and nine‑month revenue increased to $18,992,813 from $5,932,596, reflecting higher sales across its bromine, crude salt and chemical operations in China.
However, the company recorded a large impairment of long‑lived assets of $29,782,912 and a loss on disposal of long‑lived assets of $2,008,853 in the three and nine months ended September 30, 2025. These charges, together with operating costs, led to a Q3 net loss of $35,664,512 and a nine‑month net loss of $41,067,789.
At September 30, 2025, total assets were $131,907,547 and total liabilities were $24,445,851, with stockholders’ equity of $107,461,696. Current assets of $15,669,085 were below current liabilities of $17,111,071, and management discloses significant doubts about the company’s ability to continue as a going concern, citing ongoing losses, a working capital deficit and the need for additional financing and cost controls.
Gulf Resources reported a meaningful revenue recovery and narrower losses while retaining liquidity but continues to disclose material operational and regulatory risks.
Net revenue rose to $8,343,785 for the quarter (from $2,383,169 a year earlier) and to $9,948,232 for the six-month period (from $3,690,231). Net loss narrowed to $773,777 for the quarter (versus a loss of $33,097,918 in the prior-year quarter) and to $5,403,277 for six months (versus $37,090,050). Cash was $7,736,081 and current assets exceeded current liabilities by about $5.49 million, providing a short-term liquidity cushion.
Material concerns remain: management discloses significant going-concern doubts and potential enforcement and land-use issues for certain factories, construction of a chemical factory is suspended pending product decisions, top five customers accounted for 65.2% of sales, top three suppliers supplied 100% of raw materials, deferred tax assets are fully reserved with a $16,287,611 valuation allowance, and accumulated other comprehensive loss is $(20,228,352). The company also registered a shelf to offer up to $10,000,000 of securities.