Company: HFFG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001628280-25-039583
Chunk: 0

Company: HF Foods Group Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 0
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ITEM 1.    Financial Statements.

HF Foods Group Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands, except share data)

(Unaudited)

June 30, 2025December 31, 2024ASSETSCURRENT ASSETS:Cash$15,650 $14,467 Accounts receivable, net of allowances of $2,174 and $1,55752,083 54,107 Accounts receivable - related parties409 239 Inventories127,240 97,783 Prepaid expenses and other current assets6,784 11,507 TOTAL CURRENT ASSETS202,166 178,103 Property and equipment, net158,011 149,572 Operating lease right-of-use assets27,998 13,944 Long-term investments2,239 2,350 Customer relationships, net131,332 136,615 Trademarks, trade names and other intangibles, net28,060 24,911 Goodwill38,815 38,815 Other long-term assets4,916 5,681 TOTAL ASSETS$593,537 $549,991 LIABILITIES AND SHAREHOLDERS’ EQUITYCURRENT LIABILITIES:Checks issued not presented for payment$6,989 $5,687 Line of credit60,815 57,483 Accounts payable68,011 50,592 Accounts payable - related parties240 52 Current portion of long-term debt, net5,410 5,410 Current portion of obligations under finance leases6,405 3,797 Current portion of obligations under operating leases4,253 4,177 Accrued expenses and other liabilities17,576 18,001 TOTAL CURRENT LIABILITIES169,699 145,199 Long-term debt, net of current portion100,614 103,324 Obligations under finance leases, non-current27,847 19,929 Obligations under operating leases, non-current24,856 10,125 Deferred tax liabilities27,425 29,392 Other long-term liabilities1,979 728 TOTAL LIABILITIES352,420 308,697 COMMITMENTS AND CONTINGENCIES (Note 14)SHAREHOLDERS’ EQUITY:Series A Participating Preferred Stock, par value $0.001; 100,000 shares authorized,