Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 78

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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 72,954,136 69,538,640 Selling and distribution expenses6,060,571 6,284,932 19,433,477 18,676,665 General and administrative expenses2,784,507 2,637,141 8,330,435 7,542,019 Research and development expenses283,867 451,975 1,085,095 1,303,445 Other segment items(1)438,190 364,885 1,459,121 430,989 Provision for income taxes1,879,599 267,537 925,493 (8,589)Segment net loss(1,948,066)(698,248)(4,128,088)(1,259,522)Reconciliation of profit or lossAdjustments and reconciling items— — — — Consolidated net loss$(1,948,066)$(698,248)$(4,128,088)$(1,259,522)(1) Other segment items included interest income, interest expense and non-recurring other income and expenses.

Note 16 — Subsequent Events

On October 21, 2025, the Company entered into a joint venture agreement with two partners to establish entities in Nigeria, in which the Company will hold a minority ownership interest. 

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Item 2.   Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The disclosures in this Quarterly Report on Form 10-Q are complementary to those made in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2025 (the “2024 Form 10-K”). You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and related notes appearing in this Quarterly Report on Form 10-Q as well as our audited financial statements, notes thereto and Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our 2024 Form 10-K. Some of the information contained in this discussion and analysis or set forth elsewhere in this Quarterly Report on Form 10-Q, including information with respect to our plans and strategy for our business and related financing, includes forward-looking statements that involve risks and uncertainties. As a result of many factors, including those factors set forth in the “Risk Factors” section of this Quarterly Report on Form 10-Q and of our 2024 Form