Company: HFFG
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001680873-25-000074
Chunk: 0

Company: HF Foods Group Inc.
Filing Date: 2025-11-10
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)

September 30, 2025December 31, 2024ASSETSCURRENT ASSETS:Cash$12,328 $14,467 Accounts receivable, net of allowances of $1,199 and $1,55753,525 54,107 Accounts receivable - related parties606 239 Inventories135,496 97,783 Prepaid expenses and other current assets6,416 11,507 TOTAL CURRENT ASSETS208,371 178,103 Property and equipment, net158,717 149,572 Operating lease right-of-use assets26,801 13,944 Long-term investments2,191 2,350 Customer relationships, net128,690 136,615 Trademarks, trade names and other intangibles, net26,750 24,911 Goodwill38,815 38,815 Other long-term assets4,748 5,681 TOTAL ASSETS$595,083 $549,991 LIABILITIES AND SHAREHOLDERS’ EQUITYCURRENT LIABILITIES:Checks issued not presented for payment$2,126 $5,687 Line of credit67,162 57,483 Accounts payable72,412 50,592 Accounts payable - related parties563 52 Current portion of long-term debt, net6,998 5,410 Current portion of obligations under finance leases6,463 3,797 Current portion of obligations under operating leases4,235 4,177 Accrued expenses and other liabilities15,094 18,001 TOTAL CURRENT LIABILITIES175,053 145,199 Long-term debt, net of current portion100,266 103,324 Obligations under finance leases, non-current26,856 19,929 Obligations under operating leases, non-current23,764 10,125 Deferred tax liabilities26,536 29,392 Other long-term liabilities1,746 728 TOTAL LIABILITIES354,221 308,697 COMMITMENTS AND CONTINGENCIES (Note 15)SHAREHOLDERS’ EQUITY:Series A Participating Preferred Stock, par value $0.001; 100,000 shares authorized,