Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 171

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 171
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556,300 $3,802,863 $8,776,860 $10,535,795 The ending balances of such transactions as of September 30, 2025 and December 31, 2024 are listed of the following:Prepayments — related partiesName of Related PartyAs ofSeptember 30,2025As ofDecember 31,2024USDUSDFocal Capital Holding Limited$5,550,455 $9,975,298 Foremost Worldwide Co., Ltd.9,448,354 — $14,998,809 $9,975,298 Accounts Payables — related partiesName of Related PartyAs ofSeptember 30,2025As ofDecember 31,2024USDUSDForemost Worldwide Co., Ltd.$—$718,605Rizhao Foremost Woodwork Manufacturing Co., Ltd.23,71156,389F.P.Z. Furniture (Cambodia) Co., Ltd.—119,667$23,711$894,661 Shared Service and Miscellaneous expenses – related partyFGI Industries is party to the FHI Shared Services Agreement with FHI. Total amounts provided to FHI under the FHI Share Services Agreement were $167,381 and $189,081 for the three months ended September 30, 2025 and 2024, respectively, and $510,917 and $552,043 for the nine months ended September 30, 2025 and 2024, respectively, which were booked under selling and distribution expenses and administration expenses. FGI is party to the Worldwide Shared Services Agreement with Foremost Worldwide. Total amounts provided from Foremost Worldwide under the Worldwide Shared Services Agreement were $76,690 and $82,908 for the three months ended September 30, 2025 and 2024, respectively, and $210,261 and $217,504 for the nine months ended September 30, 2025 and 2024, respectively.

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Other Receivables (Payables) — related partiesName of Related PartyRelationshipNature ofTransactionsAs ofSeptember 30,2025As ofDecember 31,2024USDUSDForemost Home Inc. (“FHI”)An entity under common controlShared services and Miscellaneous expenses3,521,891 2,654,286 Foremost Worldwide Co., Ltd.An entity under common controlShared services and Miscellaneous expenses(314,014)(340,901)Focal Capital Holding LimitedAn entity under common control