Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 43

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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Item 1. Financial Statements.

FGI INDUSTRIES LTD.

INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 (Audited)6Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and six months ended June 30, 2025 and 20247Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity for the three and six months ended June 30, 2025 and 20248Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 20249Notes to Unaudited Condensed Consolidated Financial Statements10-28

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Table of Contents

FGI INDUSTRIES LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

As ofJune 30, 2025As ofDecember 31, 2024USD USD(Unaudited)ASSETSCURRENT ASSETS  Cash$2,519,117 $4,558,160 Accounts receivable, net15,704,382 20,293,555 Inventories, net12,680,481 13,957,867 Prepayments and other current assets2,425,406 2,091,407 Prepayments and other receivables – related parties15,795,678 11,996,973 Total current assets49,125,064 52,897,962 PROPERTY AND EQUIPMENT, NET3,880,396 3,634,340 OTHER ASSETS  Intangible assets1,841,457 1,849,951 Operating lease right-of-use assets, net11,884,613 12,823,747 Deferred tax assets, net3,668,198 2,665,585 Other noncurrent assets1,301,956 1,589,830 Total other assets18,696,224 18,929,113 Total assets$71,701,684 $75,461,415 LIABILITIES AND SHAREHOLDERS’ EQUITY  CURRENT LIABILITIES  Short-term loans$12,558,500 $14,502,367 Accounts payable21,447,290 19,349,529 Accounts payable – related parties203