[ASSET PURCHASE AGREEMENT BETWEEN SHOUGUANG CITY HAOYUAN CHEMICAL COMPANY LIMITED, GULF RESOURCES, INC. AND LIANGCAI ZHANG DATED AS OF December 22, 2011 1 -------------------------------------------------------------------------------- 1. Asset Checklist 2 This ASSET PURCHASE AGREEMENT (this "AGREEMENT") is entered into as of December 22, 2011 (the "Effective Date") by and between the following parties: (1) SHOUGUANG CITY HAOYUAN CHEMICAL COMPANY LIMITED, a company] [Gulf Resources Agrees to Acquire Bromine Manufacturing Assets SHANDONG, China, Dec. 22, 2011 /PRNewswire-Asia-FirstCall/ -- Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today announced that its wholly-owned subsidiary Shouguang City Haoyuan Chemical Company Limited ("SCHC") has signed an agreement to acquire manufacturing assets involved] [+86 (536) 567-0008 o o o o Item 1.01 Entry into a Material Definitive Agreement. In consideration for the Purchased Assets and for the value of the rights to the leased property located at 3 kilometers west of the Yangkou Village, south of Youyi road in Shouguang City Yangkou Township (the “Leased Property”), SCHC shall pay to the Seller a]