Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 44

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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,658 894,661 Income tax payable51,371 23,189 Operating lease liabilities – current1,648,147 1,867,956 Accrued expenses and other current liabilities4,713,393 5,905,124 Total current liabilities40,622,359 42,542,826 OTHER LIABILITIES  Operating lease liabilities – noncurrent10,803,301 11,352,939 Total liabilities51,425,660 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 June 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 June 30, 2025 and December 31, 2024, respectively)(1)959 956 Additional paid-in capital21,479,973 21,279,047 Retained earnings1,351,819 3,212,435 Accumulated other comprehensive loss(1,550,093)(2,239,560)FGI Industries Ltd. shareholders’ equity21,282,658 22,252,878 Non-controlling interests(1,006,634)(687,228)Total shareholders’ equity20,276,024 21,565,650 Total liabilities and shareholders’ equity$71,701,684 $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 EndedJune 30,For the Six Months EndedJune 30,2025202420252024USDUSDUSDUSDRevenue$30,998,260 $29,370,949 $64,