Gulf Resources Inc（GURE）資訊與事件GUREGulf Resources Inc

Gulf Resources Receives Nasdaq Non-Compliance Notice

Gulf Resources announced that it received a notice from Nasdaq regarding the company's non-compliance with Nasdaq Listing Rule 5250 as a result of its failure to timely file its quarterly report on Form 10-Q for the quarter ended June 30. The listing rule requires listed companies to timely file all required periodic financial reports with the SEC.

Gulf Resources Signs Strategic Cooperation Agreement with Brazilian Company

Gulf Resources announced its international expansion plan and Strategic Cooperation Agreement with a Brazilian company, Montes Verdes Participacoes, entered into on August 20. Montes Verdes is a Brazilian mining company specializing in the exploration of gold, manganese, lithium, bromine and rare-earth minerals, as well as vegetable seed breeding and fertilizer. Montes Verdes has extensive resources. Gulf Resources has technology and experience extracting and producing these resources. Under the strategic agreement, the two companies will establish a joint venture company to integrate their respective industrial resources, technological strengths, market channels and operating capabilities to build a scalable international business. Through this in-depth strategic cooperation, the parties intend to optimize Gulf's industrial footprint, broaden overseas profit channels, strengthen Gulf's core competitiveness, and steadily improve market capitalization and overall profitability. The bromine and lithium resources in the mining areas held by Monte Verdes will provide a solid foundation and broad scope for in-depth strategic cooperation. In the agreement, Montes Verdes guarantees that 2027 sales revenue consolidated into the Gulf listed-company system shall be no less than $180M. In addition, it guarantees annual sales growth of no less than 20% in each of the following five years. If the 2027 target is achieved and profitability is at or above industry levels, additional shares of Gulf may be issued based on the average price-to-earnings ratio for the relevant year.

Gulf Resources Delays Filing 10-K for 2025

Gulf Resources announced the delay in filing its 10-K for 2025 and references the 8-K filed by company on April 14. The company delayed to file the Form 10-K due to accounting adjustments required by the company and its auditors in response to SEC comments on the Annual Report on Form 10-K for the financial year ended December 31, 2024. Previously company recorded its "land, buildings and salt pans" under fixed assets, but now, the company and its auditors has will adjust those to long-term leases based on the comments from SEC. The company will then revise its 2024 10-K and incorporate these changes into its upcoming 2025 10-K. Since the company has changed Auditors and Counsel in the past two years, all parties want to take the time to ensure the issues been addressed appropriately. Xiaobin Liu, the CEO of Gulf Resources stated, "We are working diligently to satisfy the SEC. However, we do not believe these issues will have a material impact on our business operations. As soon as the company receives a further update from the SEC, we will communicate with shareholders."