Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 45

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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,711 894,661 Income tax payable— 23,189 Operating lease liabilities – current1,676,402 1,867,956 Accrued expenses and other current liabilities5,781,342 5,905,124 Total current liabilities44,230,423 42,542,826 OTHER LIABILITIES  Operating lease liabilities – noncurrent10,369,324 11,352,939 Total liabilities54,599,747 53,895,765 COMMITMENTS AND CONTINGENCIES  SHAREHOLDERS’ EQUITY  Preference Shares ($0.0001 par value, 2,000,000 shares authorized, no shares issued and outstanding as of September 30, 2025 and December 31, 2024)(1)— — Ordinary shares ($0.0005 par value, 40,000,000 shares authorized, 1,918,311 and 1,912,783 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively)(1)959 956 Additional paid-in capital21,594,025 21,279,047 (Accumulated deficit) retained earnings(299,513)3,212,435 Accumulated other comprehensive loss(1,553,835)(2,239,560)FGI Industries Ltd. shareholders’ equity19,741,636 22,252,878 Non-controlling interests(1,303,368)(687,228)Total shareholders’ equity18,438,268 21,565,650 Total liabilities and shareholders’ equity$73,038,015 $75,461,415 

(1) Giving retroactive effect to the Reverse Share Split of the Preference Shares and Ordinary Shares at a ratio of 1-for-5 that became effective July 31, 2025. See Note 9 “Shareholders' Equity” for details.

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

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Table of Contents

FGI INDUSTRIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024USDUSDUSDUSDRevenue$35,848,861 $36,099,179 $