Company: HFFG
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001680873-25-000006
Chunk: 16

Company: HF Foods Group Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 7A
Chunk 16
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391 shares issued and 52,737,650 and 52,155,968 shares outstanding as of December 31, 2024 and December 31, 2023, respectively 5 5 Treasury stock, at cost; 1,997,423 shares as of December 31, 2024 and December 31, 2023(7,750)(7,750)Additional paid-in capital604,235 603,094 Accumulated deficit(357,199)(308,688)TOTAL SHAREHOLDERS’ EQUITY ATTRIBUTABLE TO HF FOODS GROUP INC.239,291 286,661 Noncontrolling interests2,003 1,322 TOTAL SHAREHOLDERS’ EQUITY241,294 287,983 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$549,991 $596,520 

The accompanying notes are an integral part of these consolidated financial statements.36

HF Foods Group Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income (Loss)

(In thousands, except share and per share data)

Year Ended December 31,202420232022Net revenue - third parties$1,197,926 $1,142,648 $1,163,525 Net revenue - related parties3,741 5,845 6,942 TOTAL NET REVENUE1,201,667 1,148,493 1,170,467 Cost of revenue - third parties993,026 938,815 958,775 Cost of revenue - related parties3,447 5,647 6,180 TOTAL COST OF REVENUE996,473 944,462 964,955 GROSS PROFIT205,194 204,031 205,512 Distribution, selling and administrative expenses198,026 195,062 194,953 Goodwill impairment charges46,303 — — (LOSS) INCOME FROM OPERATIONS(39,135)8,969 10,559 Interest expense11,425 11,478 7,457 Other expense (income), net2,818 (1,091)(1,829)Change in fair value of interest rate swap contracts(1,693)1,580 (817)Lease guarantee (income) expense(5,548)(377)5,744 (LOSS) INCOME BEFORE IN