GULF RESOURCES, INC. GURE

Healthcare SIC 2800 - Chemicals & Allied Products NAICS Manufacturing › Chemical Manufacturing derived Nasdaq

and crude salt, natural gas, manufacture and sell chemical products used in oil and gas field explorations and papermaking chemical agents,

and materials for human and animal antibiotics. To date, our products have been sold only within the People's Republic of China.

refers to Gulf Resources, Inc., a holding company and/or its consolidated wholly-owned subsidiaries, and the terms "ton" and

"tons" refers to metric tons, in each case, unless otherwise stated or the context requires otherwise.

Last close 2.86 2026-10-23
Market cap $5.2M 2026-03-31 share count
52-week range 2.62 - 11.83

Valuation FY2025 figures against the last close

P/S0.2x
P/E—
P/FCF—
EV/EBITDA1.8x
Dividend yield—
Diluted EPS-32.95

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $25.4M$7.7M$30.0M$66.1M$55.0M$28.2M$10.6M$2.6M$107.5M$149.3M
Cost of revenue —————$19.4M$5.4M$1.3M$63.2M$94.8M
Gross profit —————$8.8M$5.2M$1.3M$44.4M$54.5M
R&D ———————$0$195.2K$261.9K
SG&A $5.6M$6.2M$4.2M$6.0M$9.5M$10.2M$13.3M$11.3M$278.6K$343.1K
Total operating expenses $34.0M$29.9M$41.9M$49.6M$49.8M$37.9M$33.9M$86.1M$96.4M$101.6M
Operating income -$8.6M-$22.2M-$11.9M$16.5M$5.2M-$9.7M-$23.3M-$83.6M$11.2M$47.7M
Interest expense $372.6K$91.9K$105.2K$121.4K$137.2K$136.4K$145.4K$160.4K$164.3K$174.9K
Pre-tax income -$43.9M-$58.3M-$58.3M$16.6M$5.4M-$9.5M-$23.0M-$83.1M$11.6M$48.0M
Income tax —$1.6M$3.5M$6.6M$6.3M$1.1M$2.8M$13.1M$3.6M$11.8M
Net income -$43.9M-$59.9M-$61.8M$10.1M-$924.7K-$8.4M-$25.8M-$70.0M$8.0M$36.2M
EPS, basic -32.95-54.88-58.161.00-0.09——-1.490.170.78
EPS, diluted -32.95-54.88-58.16—-0.09-0.87-2.73-7.450.170.78
Shares, diluted (wtd. avg.) 1.3M1.1M1.1M10.0M10.5M——46.8M46.8M46.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.8K$10.1M$72.2M$108.2M$95.8M$94.2M$100.3M———
Receivables $3.3M$564.5K$4.9M$5.4M——————
Inventory $562.8K$315.4K$577.2K$1.6M$691.1K$419.6K$690.1K$0$1.2M$5.9M
Total current assets $24.6M$17.5M$86.1M$119.4M$115.4M$107.3M$107.2M$187.3M$241.5M$221.8M
Property, plant and equipment $61.9M$89.4M$112.2M$149.9M$162.7M$148.9M$138.0M$82.3M$95.1M$108.7M
Goodwill ———————$0$29.4M$27.7M
Total assets $133.7M$167.8M$226.7M$292.4M$309.9M$294.0M$279.3M$298.5M$387.5M$365.7M
Accounts payable $146.1K$30.0K$207.0K$57.6K$202.3K$480.0K$0$905.3K$1.0M$7.5M
Short-term debt $2.8M—————————
Total current liabilities $8.2M$13.0M$12.6M$11.8M$13.9M$7.1M$6.3M$2.6M$3.2M$13.9M
Total liabilities $22.3M$25.0M$21.4M$20.8M$23.2M$17.0M$16.1M$4.7M$5.5M$16.2M
Total equity $111.5M$142.8M$205.2M$271.6M$286.6M$277.0M$263.1M$293.9M$382.0M$349.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $7.8M$675.8K-$32.8M$51.1M$23.3M$9.3M-$15.3M$17.3M$62.8M$55.2M
Depreciation and amortisation $13.1M$15.8M$25.9M$26.8M$20.5M$16.0M$14.1M$17.4M$19.9M$24.6M
Stock-based compensation $930.8K$194.7K$451.4K$668.0K$3.1M$2.4M$45.9K$496.2K$372.4K$40.3K
Capital expenditure $8.8M$28.9M—$37.6M$30.1M$21.7M$60.6M$35.3M$17.9M$17.0M
Investing cash flow -$22.6M-$28.9M—-$37.6M-$30.1M-$21.7M-$60.6M-$36.0M-$28.4M-$15.0M
Financing cash flow $4.8M-$31.9M-$267.8K-$264.9K-$290.6K-$265.0K-$275.5K-$294.3K-$273.9K-$287.4K
Buybacks —————————$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193805-26-001105.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M Revenue, FY2016: 149.3M Gross profit, FY2016: 54.5M Net income, FY2016: 36.2M Revenue, FY2017: 107.5M Gross profit, FY2017: 44.4M Net income, FY2017: 8M Revenue, FY2018: 2.6M Gross profit, FY2018: 1.3M Net income, FY2018: -70M Revenue, FY2019: 10.6M Gross profit, FY2019: 5.2M Net income, FY2019: -25.8M Revenue, FY2020: 28.2M Gross profit, FY2020: 8.8M Net income, FY2020: -8.4M Revenue, FY2021: 55M Net income, FY2021: -924.7K Revenue, FY2022: 66.1M Net income, FY2022: 10.1M Revenue, FY2023: 30M Net income, FY2023: -61.8M Revenue, FY2024: 7.7M Net income, FY2024: -59.9M Revenue, FY2025: 25.4M Net income, FY2025: -43.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $149.3M $107.5M $2.6M $10.6M $28.2M $55.0M $66.1M $30.0M $7.7M $25.4M
Gross profit $54.5M $44.4M $1.3M $5.2M $8.8M — — — — —
Net income $36.2M $8.0M -$70.0M -$25.8M -$8.4M -$924.7K $10.1M -$61.8M -$59.9M -$43.9M

Recent filings and events

  • Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
  • Delisting notice Item 3.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Delisting notice Item 3.01
  • Accounts can no longer be relied on The company is telling investors that figures it has already published are wrong. Rare, and about as direct as a filing gets. Item 4.02
  • Delisting notice Item 3.01
  • Other event Item 8.01
  • Delisting notice Item 3.01
  • Other event Item 8.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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