Gulf Resources to restate fiscal 2024 and 2025 filings over building asset classification

Gulf Resources said on June 1, 2026 that it will amend its fiscal year 2024 Form 10-K and quarterly reports for Q1, Q2, and Q3 2025 to restate disclosures related to buildings without ownership certificates. The company will reclassify these assets from fixed assets to right-of-use assets under ASC 842 Leases based on underlying lease agreements. The restatement affects fiscal years 2023 and 2024 and all quarterly periods in 2025; the company has delayed filing its 2025 Form 10-K and Q1 2026 10-Q and issued a Form 12b-25 notice of late filing.