Gulf Resources says prior financial statements should not be relied on, plans restatement after SEC dialogue

• Gulf Resources flagged SEC-driven restatements, saying investors should not rely on its FY2024 Form 10-K or Q1–Q3 2025 Form 10-Qs.
• Amendments will reclassify certain buildings previously recorded as fixed assets as right-of-use assets under ASC 842 lease accounting.
• The restatement work delayed its FY2025 Form 10-K and the Form 10-Q for the quarter ended March 31, 2026; a Form 12b-25 was filed.
• Management discussed the issue with auditor GGF CPA LTD; the company is evaluating remediation tied to a previously identified material weakness.

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