Company: HFFG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001628280-25-039583
Chunk: 19

Company: HF Foods Group Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 19
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ief Executive Officer, together with various trusts for the benefit of Mr. Ni’s four children, are collectively beneficial owners of more than 10% of the outstanding shares of the Company’s common stock, and he and certain of his immediate family members have ownership interests in related parties involved in (i) the distribution of food and related products to restaurants and other retailers and (ii) the supply of fresh food, frozen food, and packaging supplies to distributors.The related party transactions as of June 30, 2025 and December 31, 2024 and for the three and six months ended June 30, 2025, and 2024, are identified as follows:Related Party Sales, Purchases, and Lease AgreementsPurchasesBelow is a summary of purchases of goods and services from related parties recorded for the three and six months ended June 30, 2025 and 2024, respectively:Three Months Ended June 30,Six Months Ended June 30,(In thousands)Nature2025202420252024(a)Asahi Food, Inc.Trade$40 $29 $65 $56 (b)Conexus Food Solutions LLC (formerly known as Best Food Services, LLC)Trade935 1,763 1,959 2,913 (c)Ocean Pacific Seafood Group, Inc.Trade41 60 114 140 (c)Rainfield Ranches, LPTrade22 38 43 95 Total$1,038 $1,890 $2,181 $3,204 _______________(a)The Company, through its subsidiary Mountain Food, LLC, owns an equity interest in this entity.(b)An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang’s children.(c)Mr. Zhou Min Ni owns an equity interest in this entity.

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SalesBelow is a summary of sales to related parties recorded for the three months ended June 30, 2025 and 2024, respectively:Three Months Ended June 30,Six Months Ended June 30,(In thousands)2025202420252024(a)ABC Food Trading, LLC$497 $431 $924 $834 (b)Asahi Food, Inc.235 148 387 287 (a)Conexus Food Solutions LLC (formerly known as Best Food Services, LLC)498 335 840 588 (c)First Choice Seafood, Inc.— 6 6