Company: HFFG
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001680873-25-000036
Chunk: 37

Company: HF Foods Group Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 37
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ITEM 1.    Financial Statements.

HF Foods Group Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands, except share data)

(Unaudited)

March 31, 2025December 31, 2024ASSETSCURRENT ASSETS:Cash$16,099 $14,467 Accounts receivable, net of allowances of $2,174 and $1,55757,802 54,107 Accounts receivable - related parties335 239 Inventories106,048 97,783 Prepaid expenses and other current assets7,842 11,507 TOTAL CURRENT ASSETS188,126 178,103 Property and equipment, net160,412 149,572 Operating lease right-of-use assets29,266 13,944 Long-term investments2,327 2,350 Customer relationships, net133,973 136,615 Trademarks, trade names and other intangibles, net23,683 24,911 Goodwill38,815 38,815 Other long-term assets5,248 5,681 TOTAL ASSETS$581,850 $549,991 LIABILITIES AND SHAREHOLDERS’ EQUITYCURRENT LIABILITIES:Checks issued not presented for payment$4,991 $5,687 Line of credit58,594 57,483 Accounts payable62,245 50,592 Accounts payable - related parties389 52 Current portion of long-term debt, net5,410 5,410 Current portion of obligations under finance leases5,808 3,797 Current portion of obligations under operating leases4,294 4,177 Accrued expenses and other liabilities15,883 18,001 TOTAL CURRENT LIABILITIES157,614 145,199 Long-term debt, net of current portion101,967 103,324 Obligations under finance leases, non-current26,605 19,929 Obligations under operating leases, non-current25,637 10,125 Deferred tax liabilities28,308 29,392 Other long-term liabilities1,581 728 TOTAL LIABILITIES341,712 308,697 COMMITMENTS AND CONTINGENCIES (Note 14)SHAREHOLDERS’ EQUITY:Series A Participating Preferred Stock, par value $0.001; 100,000 shares authorized,