on october 27 , 2009 our shares began trading on the nasdaq global select market under the ticker symbol “ gfre ” and on june 30 , 2011 we changed our ticker symbol to “ gure ” to better reflection of our corporate name . as a result of our acquisitions of schc and syci , our historical financial statements and the information presented below reflects the accounts of schc and syci . the following discussion should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this report . 36 results of operations year ended december 31 , 2012 as compared to year ended december 31 , 2011 replace_table_token_11_th net revenue net revenue for the fiscal year 2012 , was $ 101,700,882 , representing a decrease of $ 63,279,571 or 38 % over the same period in 2011. this decrease was primarily attributable to the reduction of overall demand for all of our segment products , specifically , ( i ) revenue from the bromine segment decreased from $ 107,849,304 for the fiscal year 2011 to $ 56,332,785 for the same period in 2012 , a decrease of approximately 48 % ; ( ii ) revenue from the crude salt segment decreased from $ 15,918,655 for the fiscal year 2011 to $ 11,143,848 for the same period in 2012 , a decrease of approximately 30 % ; and ( iii ) revenue from the chemical products segment decreased from $ 41,212,494 for the fiscal year 2011 to $ 34,224,249 for the same period in 2012 , a decrease of approximately 17 % . replace_table_token_12_th replace_table_token_13_th replace_table_token_14_th 37 bromine segment the decrease in net revenue from our bromine segment was mainly due to the decrease in both the sales volume and selling price of bromine . the sales volume of bromine decreased from 26,418 tonnes for the fiscal year 2011 to 17,467 tonnes for the same period in 2012 , a decrease of 34 % , despite the increase in the number of our bromine production plants in recent years , which maintained our production capacity . as mentioned hereinbefore , the major reason for the decrease in the sales volume of bromine was mainly attributable to the drop in overall demand for bromine as a result of the recent macro-economic tightening policy imposed by the prc government beginning in the second half of 2011 to slow down the economy , which has affected our customers ' industries . due to the drop in demand of bromine , since the second half of 2011 , we needed to offer competitive selling prices to our customers to compete with other bromine manufacturers . the average selling price of bromine decreased from $ 4,082 per tonne for the fiscal year 2011 to $ 3,225 per tonne for the same period in 2012 , a decrease of 21 % . the average selling price for the first half of 2012 remained relatively stable at around $ 3,500 per tonne and further dropped to $ 2,954 per tonne in the fourth quarter of 2012 in order to retain our major customers . we expect the average selling price of bromine will remain at current levels through the first quarter of 2013 should the prc government 's macro-economic tightening policy remain in place . the table below shows the changes in the average selling price and changes in the sales volume of bromine for the fiscal year 2012 from the same period in 2011. fiscal year decrease in net revenue of bromine as a result of : 2012 vs. 2011 decrease in average selling price $ ( 18,812,236 ) decrease in sales volume $ ( 32,704,284 ) total effect on net revenue of bromine $ ( 51,516,520 ) crude salt segment the decrease in net revenue from our crude salt segment was mainly due to the decrease in both the average selling price and sales volume of crude salt . the average selling price of crude salt decreased from $ 44.72 per tonne for the fiscal year 2011 to $ 37.50 per tonne for the same period in 2012 , a decrease of 16 % , and the sales volume of crude salt also decreased by 17 % from 355,962 tonnes for the fiscal year 2011 to 297,206 tonnes for the same period in 2012. the decrease in both the average selling price and sales volume was a result of the macro-economic tightening policy imposed by the prc government beginning in the second half of 2011 to slow down the economy . this policy resulted in , among other things , the decrease in the demand for crude salt for downstream production of chlorine alkali and use in chemical , food and beverage industries . the table below shows the changes in the average selling price and changes in the sales volume of crude salt for the fiscal year 2012 from the same period in 2011. fiscal year decrease in net revenue of crude salt as a result of : 2012 vs. 2011 decrease in average selling price $ ( 2,359,477 ) decrease in sales volume $ ( 2,415,329 ) total effect on net revenue of crude salt $ ( 4,774,806 ) we noted a downward trend in the average selling price of crude salt since the first quarter of 2011 as we offered competitive selling prices to our customers in order to compete with other crude salt manufacturers . the average selling price decreased sharply from $ 50.09 per tonne in the first quarter of 2011 to $ 37.19 per tonne in the third quarter of 2011 and then maintained at a relatively stable price levels at $ 37 per tonne through the fourth quarter of 2012. we expect the average selling price of crude salt will remain at current levels through the first quarter of 2013 should the prc government 's macro-economic tightening policy remain in place . story_separator_special_tag as previously mentioned , the decrease in gross profit was a result of the macro-economic tightening policy imposed by the prc government to slow down the economy , which decreased the demand for crude salt for downstream production of chlorine alkali and use in chemical , food and beverage industries . chemical products segment the gross profit margin for our chemical products segment for the fiscal year 2012 was 29 % as compared to 31 % for the same period in 2011 , a decrease of 2 % . as previously mentioned , the decrease in gross profit margin was a result of the decrease in demand for our oil and gas exploration additives and paper manufacturing additives which in turn reduced the sales volume of these chemical products . as sales of oil and gas exploration additives contributed more than 55 % of our total chemical products segment 's net revenue , the decrease in demand largely reduced the gross profit margin of our chemical products segment . however , the selling price fluctuation of individual chemical products is not expected to have a significant impact on our gross profit margin for overall chemical products as our factory is capable of producing diversified chemical products , such as pesticides manufacturing additives with higher profit margin . research and development costs the total research and development costs incurred for the fiscal years 2012 and 2011 were $ 164,586 and $ 398,842 , respectively , with a decrease of 59 % . research and development costs for the fiscal year 2012 represented raw materials used by syci for testing the manufacturing routine and samples of the new chemical products production line . research and development costs for the fiscal year 2011 were mostly related to the co-op research and development center set up jointly with east china university of science and technology in june 2007 to develop new bromine-based chemical compounds and products to be utilized in the pharmaceutical industry , which amounted to $ 236,816. on june 7 , 2011 , syci and east china university of science and technology mutually agreed to terminate the co-op research agreement due to the successful completion of the cooperative research and development tasks related to the development of bromine-related chemical products for us . exploration cost . no exploration cost was incurred for the fiscal year 2012 as we are discussing and negotiating with the local government of daying county of the form of cooperation to further explore the brine water resources . in the fiscal year 2011 , the exploration cost was $ 7,034,153 , representing the drilling of exploratory wells and associated facilities by schc in sichuan province in order to confirm and measure the brine water resources in the province . we completed the drilling of the first exploratory well in december 2011 and announced in mid-january 2012 that we have discovered underground brine water resources in daying county , and provided preliminary concentration results after the testing by a third-party independent testing expert . 43 write-off/impairment on property , plant and equipment . write-off on property , plant and equipment of $ 1,042,138 for the fiscal year 2012 represented the write-off of ( i ) certain protective shells to transmission pipelines and ducts replaced of $ 911,995 during the second phase enhancement project that started in june 2012 and completed in august 2012 ; and ( ii ) certain machinery and equipment replaced during the enhancement work to our bromine production facilities in factory no . 2 of $ 130,143 that started in july 2012 and completed in september 2012. the write-off and impairment on property , plant and equipment for the fiscal year 2011 represented ( i ) the write-off on property , plant and equipment that could not be relocated to the new factory no . 4 in the amount of $ 1,384,443 ; ( ii ) the impairment loss on property , plant and equipment related to the conversion of our production line from wastewater treatment chemical additives to the production of pharmaceutical and agricultural chemical intermediates in the amount of $ 1,805,598 ; ( iii ) the impairment loss on property , plant and equipment under capital leases for idle plant and machinery in the amount of $ 683,046 ; and ( iv ) the write-off of certain crude salt field protective shells and transmission pipelines replaced during enhancement projects in the amounts of $ 1,632,004 and $ 2,065,475 , respectively . general and administrative expenses . general and administrative expenses were $ 6,792,110 for the fiscal year 2012 , a decrease of $ 11,082,186 ( or 62 % ) as compared to $ 17,874,296 for the same period in 2011. the significant decrease was primarily due to ( i ) non-cash expenses of $ 7,481,400 for the fiscal year 2011 related to options granted to our employees in the amount of $ 2,731,400 , recognition of non-vested options which were cancelled in late september 2011 in the amount of $ 4,298,000 , and a warrant issued to our investor relations firm in the amount of $ 452,000 related to a the service agreement signed in february 2011 ; ( ii ) the non-cash expenses related to options granted for the fiscal year 2012 amounted to $ 510,500 , which resulted in a decrease of $ 6,970,900 , or 93 % , as compared with the same period in 2011 ; ( iii ) $ 1,398,574 of unrealized exchange loss in relation to the translation difference of inter-company balances in usd and rmb recorded in fiscal year 2011 compared to $ 61,090 recorded in fiscal year 2012 ; and ( iv ) $ 3,154,400 of consultancy fee paid to an unrelated prc agent in fiscal year 2011 for the purpose of searching suitable crude salt fields and bromine properties for acquisition . the decrease in such general and administrative expenses was partially offset by the increase in land use right tax in the amount of

net cash provided by operating activities during the years ended december 31 , 2012 and 2011 , we had positive cash flow from operating activities of $ 24.8 million and $ 59.0 million respectively , primarily attributable to net income . 45 during the year ended december 31 , 2012 , cash flow from operating activities of $ 24.8 million exceeded our net income of $ 15.0 million , which is caused by our net income included substantial non-cash charges of $ 26.1 million , mainly in the form of stock-based compensation , depreciation and amortization of property , plant and equipment and write-off/impairment loss on property , plant and equipment , partially offset by cash used in working capital of $ 16.4 million for the fiscal year 2012 , mainly consisting of account receivable , inventory and tax paid . during the year ended december 31 , 2011 , cash flow from operating activities of $ 59.0 million exceeded our net income of $ 31.0 million , which is caused by our net income included substantial non-cash charges of $ 30.9 million , mainly in the form of stock-based compensation , depreciation and amortization of property , plant and equipment and write-off/impairment loss on property , plant and equipment , partially offset by cash used in working capital of $ 2.8 million for the fiscal year 2011 , mainly consisting of inventory and tax paid .. accounts receivable cash collections on our accounts receivable had a major impact on our overall liquidity .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash provided by operating activities during the years ended december 31 , 2012 and 2011 , we had positive cash flow from operating activities of $ 24.8 million and $ 59.0 million respectively , primarily attributable to net income . 45 during the year ended december 31 , 2012 , cash flow from operating activities of $ 24.8 million exceeded our net income of $ 15.0 million , which is caused by our net income included substantial non-cash charges of $ 26.1 million , mainly in the form of stock-based compensation , depreciation and amortization of property , plant and equipment and write-off/impairment loss on property , plant and equipment , partially offset by cash used in working capital of $ 16.4 million for the fiscal year 2012 , mainly consisting of account receivable , inventory and tax paid . during the year ended december 31 , 2011 , cash flow from operating activities of $ 59.0 million exceeded our net income of $ 31.0 million , which is caused by our net income included substantial non-cash charges of $ 30.9 million , mainly in the form of stock-based compensation , depreciation and amortization of property , plant and equipment and write-off/impairment loss on property , plant and equipment , partially offset by cash used in working capital of $ 2.8 million for the fiscal year 2011 , mainly consisting of inventory and tax paid .. accounts receivable cash collections on our accounts receivable had a major impact on our overall liquidity .
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 Suspicious Activity Report : on october 27 , 2009 our shares began trading on the nasdaq global select market under the ticker symbol “ gfre ” and on june 30 , 2011 we changed our ticker symbol to “ gure ” to better reflection of our corporate name . as a result of our acquisitions of schc and syci , our historical financial statements and the information presented below reflects the accounts of schc and syci . the following discussion should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere in this report . 36 results of operations year ended december 31 , 2012 as compared to year ended december 31 , 2011 replace_table_token_11_th net revenue net revenue for the fiscal year 2012 , was $ 101,700,882 , representing a decrease of $ 63,279,571 or 38 % over the same period in 2011. this decrease was primarily attributable to the reduction of overall demand for all of our segment products , specifically , ( i ) revenue from the bromine segment decreased from $ 107,849,304 for the fiscal year 2011 to $ 56,332,785 for the same period in 2012 , a decrease of approximately 48 % ; ( ii ) revenue from the crude salt segment decreased from $ 15,918,655 for the fiscal year 2011 to $ 11,143,848 for the same period in 2012 , a decrease of approximately 30 % ; and ( iii ) revenue from the chemical products segment decreased from $ 41,212,494 for the fiscal year 2011 to $ 34,224,249 for the same period in 2012 , a decrease of approximately 17 % . replace_table_token_12_th replace_table_token_13_th replace_table_token_14_th 37 bromine segment the decrease in net revenue from our bromine segment was mainly due to the decrease in both the sales volume and selling price of bromine . the sales volume of bromine decreased from 26,418 tonnes for the fiscal year 2011 to 17,467 tonnes for the same period in 2012 , a decrease of 34 % , despite the increase in the number of our bromine production plants in recent years , which maintained our production capacity . as mentioned hereinbefore , the major reason for the decrease in the sales volume of bromine was mainly attributable to the drop in overall demand for bromine as a result of the recent macro-economic tightening policy imposed by the prc government beginning in the second half of 2011 to slow down the economy , which has affected our customers ' industries . due to the drop in demand of bromine , since the second half of 2011 , we needed to offer competitive selling prices to our customers to compete with other bromine manufacturers . the average selling price of bromine decreased from $ 4,082 per tonne for the fiscal year 2011 to $ 3,225 per tonne for the same period in 2012 , a decrease of 21 % . the average selling price for the first half of 2012 remained relatively stable at around $ 3,500 per tonne and further dropped to $ 2,954 per tonne in the fourth quarter of 2012 in order to retain our major customers . we expect the average selling price of bromine will remain at current levels through the first quarter of 2013 should the prc government 's macro-economic tightening policy remain in place . the table below shows the changes in the average selling price and changes in the sales volume of bromine for the fiscal year 2012 from the same period in 2011. fiscal year decrease in net revenue of bromine as a result of : 2012 vs. 2011 decrease in average selling price $ ( 18,812,236 ) decrease in sales volume $ ( 32,704,284 ) total effect on net revenue of bromine $ ( 51,516,520 ) crude salt segment the decrease in net revenue from our crude salt segment was mainly due to the decrease in both the average selling price and sales volume of crude salt . the average selling price of crude salt decreased from $ 44.72 per tonne for the fiscal year 2011 to $ 37.50 per tonne for the same period in 2012 , a decrease of 16 % , and the sales volume of crude salt also decreased by 17 % from 355,962 tonnes for the fiscal year 2011 to 297,206 tonnes for the same period in 2012. the decrease in both the average selling price and sales volume was a result of the macro-economic tightening policy imposed by the prc government beginning in the second half of 2011 to slow down the economy . this policy resulted in , among other things , the decrease in the demand for crude salt for downstream production of chlorine alkali and use in chemical , food and beverage industries . the table below shows the changes in the average selling price and changes in the sales volume of crude salt for the fiscal year 2012 from the same period in 2011. fiscal year decrease in net revenue of crude salt as a result of : 2012 vs. 2011 decrease in average selling price $ ( 2,359,477 ) decrease in sales volume $ ( 2,415,329 ) total effect on net revenue of crude salt $ ( 4,774,806 ) we noted a downward trend in the average selling price of crude salt since the first quarter of 2011 as we offered competitive selling prices to our customers in order to compete with other crude salt manufacturers . the average selling price decreased sharply from $ 50.09 per tonne in the first quarter of 2011 to $ 37.19 per tonne in the third quarter of 2011 and then maintained at a relatively stable price levels at $ 37 per tonne through the fourth quarter of 2012. we expect the average selling price of crude salt will remain at current levels through the first quarter of 2013 should the prc government 's macro-economic tightening policy remain in place . story_separator_special_tag as previously mentioned , the decrease in gross profit was a result of the macro-economic tightening policy imposed by the prc government to slow down the economy , which decreased the demand for crude salt for downstream production of chlorine alkali and use in chemical , food and beverage industries . chemical products segment the gross profit margin for our chemical products segment for the fiscal year 2012 was 29 % as compared to 31 % for the same period in 2011 , a decrease of 2 % . as previously mentioned , the decrease in gross profit margin was a result of the decrease in demand for our oil and gas exploration additives and paper manufacturing additives which in turn reduced the sales volume of these chemical products . as sales of oil and gas exploration additives contributed more than 55 % of our total chemical products segment 's net revenue , the decrease in demand largely reduced the gross profit margin of our chemical products segment . however , the selling price fluctuation of individual chemical products is not expected to have a significant impact on our gross profit margin for overall chemical products as our factory is capable of producing diversified chemical products , such as pesticides manufacturing additives with higher profit margin . research and development costs the total research and development costs incurred for the fiscal years 2012 and 2011 were $ 164,586 and $ 398,842 , respectively , with a decrease of 59 % . research and development costs for the fiscal year 2012 represented raw materials used by syci for testing the manufacturing routine and samples of the new chemical products production line . research and development costs for the fiscal year 2011 were mostly related to the co-op research and development center set up jointly with east china university of science and technology in june 2007 to develop new bromine-based chemical compounds and products to be utilized in the pharmaceutical industry , which amounted to $ 236,816. on june 7 , 2011 , syci and east china university of science and technology mutually agreed to terminate the co-op research agreement due to the successful completion of the cooperative research and development tasks related to the development of bromine-related chemical products for us . exploration cost . no exploration cost was incurred for the fiscal year 2012 as we are discussing and negotiating with the local government of daying county of the form of cooperation to further explore the brine water resources . in the fiscal year 2011 , the exploration cost was $ 7,034,153 , representing the drilling of exploratory wells and associated facilities by schc in sichuan province in order to confirm and measure the brine water resources in the province . we completed the drilling of the first exploratory well in december 2011 and announced in mid-january 2012 that we have discovered underground brine water resources in daying county , and provided preliminary concentration results after the testing by a third-party independent testing expert . 43 write-off/impairment on property , plant and equipment . write-off on property , plant and equipment of $ 1,042,138 for the fiscal year 2012 represented the write-off of ( i ) certain protective shells to transmission pipelines and ducts replaced of $ 911,995 during the second phase enhancement project that started in june 2012 and completed in august 2012 ; and ( ii ) certain machinery and equipment replaced during the enhancement work to our bromine production facilities in factory no . 2 of $ 130,143 that started in july 2012 and completed in september 2012. the write-off and impairment on property , plant and equipment for the fiscal year 2011 represented ( i ) the write-off on property , plant and equipment that could not be relocated to the new factory no . 4 in the amount of $ 1,384,443 ; ( ii ) the impairment loss on property , plant and equipment related to the conversion of our production line from wastewater treatment chemical additives to the production of pharmaceutical and agricultural chemical intermediates in the amount of $ 1,805,598 ; ( iii ) the impairment loss on property , plant and equipment under capital leases for idle plant and machinery in the amount of $ 683,046 ; and ( iv ) the write-off of certain crude salt field protective shells and transmission pipelines replaced during enhancement projects in the amounts of $ 1,632,004 and $ 2,065,475 , respectively . general and administrative expenses . general and administrative expenses were $ 6,792,110 for the fiscal year 2012 , a decrease of $ 11,082,186 ( or 62 % ) as compared to $ 17,874,296 for the same period in 2011. the significant decrease was primarily due to ( i ) non-cash expenses of $ 7,481,400 for the fiscal year 2011 related to options granted to our employees in the amount of $ 2,731,400 , recognition of non-vested options which were cancelled in late september 2011 in the amount of $ 4,298,000 , and a warrant issued to our investor relations firm in the amount of $ 452,000 related to a the service agreement signed in february 2011 ; ( ii ) the non-cash expenses related to options granted for the fiscal year 2012 amounted to $ 510,500 , which resulted in a decrease of $ 6,970,900 , or 93 % , as compared with the same period in 2011 ; ( iii ) $ 1,398,574 of unrealized exchange loss in relation to the translation difference of inter-company balances in usd and rmb recorded in fiscal year 2011 compared to $ 61,090 recorded in fiscal year 2012 ; and ( iv ) $ 3,154,400 of consultancy fee paid to an unrelated prc agent in fiscal year 2011 for the purpose of searching suitable crude salt fields and bromine properties for acquisition . the decrease in such general and administrative expenses was partially offset by the increase in land use right tax in the amount of

