Company: HFFG
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001680873-25-000036
Chunk: 38

Company: HF Foods Group Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 38
---
 no shares issued and outstanding— — Preferred Stock, $0.001 par value; 1,000,000 shares authorized; no shares issued and outstanding— — Common Stock, $0.0001 par value; 100,000,000 shares authorized; 54,735,073 and  54,735,073 shares issued and 52,737,650 and 52,737,650 shares outstanding as of March 31, 2025 and December 31, 2024, respectively 5 5 Treasury stock, at cost; 1,997,423 shares as of March 31, 2025 and December 31, 2024(7,750)(7,750)Additional paid-in capital604,609 604,235 Accumulated deficit(358,844)(357,199)TOTAL SHAREHOLDERS’ EQUITY ATTRIBUTABLE TO HF FOODS GROUP INC.238,020 239,291 Noncontrolling interests2,118 2,003 TOTAL SHAREHOLDERS’ EQUITY240,138 241,294 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$581,850 $549,991 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.1

HF Foods Group Inc. and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share data)

(Unaudited)

Three Months Ended March 31,20252024Net revenue - third parties$297,473 $294,836 Net revenue - related parties955 818 TOTAL NET REVENUE298,428 295,654 Cost of revenue - third parties246,591 244,484 Cost of revenue - related parties878 759 TOTAL COST OF REVENUE247,469 245,243 GROSS PROFIT50,959 50,411 Distribution, selling and administrative expenses49,805 50,496 INCOME (LOSS) FROM OPERATIONS1,154 (85)Interest expense2,609 2,834 Other income, net(177)(94)Change in fair value of interest rate swap contracts1,184 (1,970)Lease guarantee income— (115)LOSS BEFORE INCOME TAXES(2,462)(740)Income tax benefit(932)(181)NET LOSS AND COMPREH