Gulf Resources, Inc.

Gulf Resources, Inc. manufactures and trades bromine and crude salt, natural gas, and manufactures and sells chemical products. The company's chemical products are used in oil and gas field explorations and as papermaking chemical agents, as well as materials for human and animal antibiotics. All products are sold exclusively within the People's Republic of China. The company defines "ton" and "tons" as metric tons. The functional currency of its operating foreign subsidiaries is the Renminbi (RMB), which had average exchange rates of $0.14042 and $0.13999 during fiscal years 2024 and 2025, respectively. The company's reporting currency is the United States dollar (USD). Gulf Resources, Inc. was originally incorporated in Delaware and later re-incorporated in Nevada. From November 1993 to August 2006, the company operated as "Diversifax, Inc.", owning, leasing, and operating coin and debit card pay-per-copy photocopy machines, fax machines, microfilm reader-printers, and accessory equipment. Due to declining demand from increased internet service use, these operations were discontinued in August 2006. Upper Class Group Limited, incorporated in the British Virgin Islands in July 2006, acquired Shouguang City Haoyuan Chemical Company Limited (SCHC), a company incorporated in Shouguang City, Shandong Province, PRC, in May 2005. At the time of acquisition, family members of Mr. Ming Yang, the company's president and former chief executive officer, owned approximately 63.20% of Upper Class Group Limited's outstanding shares.