Company: HFFG
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001628280-25-039583
Chunk: 9

Company: HF Foods Group Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 9
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 credit losses618 (40)Bad debt write-offs(1)(2)Ending balance$2,174 $2,077 Prepaid expenses and other current assets consisted of the following:(In thousands)June 30, 2025December 31, 2024Prepaid expenses$1,878 $4,443 Advances to suppliers3,772 5,606 Other current assets1,134 1,458 Prepaid expenses and other current assets$6,784 $11,507 

7

Property and equipment, net consisted of the following:(In thousands)June 30, 2025December 31, 2024Automobiles (1)$63,614 $50,565 Buildings63,045 63,045 Building improvements (1)24,157 22,709 Furniture and fixtures422 398 Land49,929 49,929 Machinery and equipment (1)14,311 13,216 Construction in progress8,017 10,370 Subtotal223,495 210,232 Less: accumulated depreciation(65,484)(60,660)Property and equipment, net$158,011 $149,572 _________________(1)    The cost and accumulated depreciation of property and equipment related to finance leases was $49.5 million and $17.5 million, respectively, at June 30, 2025 and $36.1 million and $14.3 million, respectively, at December 31, 2024. The total future minimum lease payments under all finance leases as of June 30, 2025 is $47.1 million.   Depreciation expense was $3.2 million and $2.5 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense was $6.1 million and $5.1 million for the six months ended June 30, 2025 and 2024, respectively.Long-term investments consisted of the following:(In thousands)Ownership as of  June 30,2025June 30, 2025December 31, 2024Asahi Food, Inc. (“Asahi”)49%$439 $550 Pt. Tamron Akuatik Produk Industri (“Tamron”)12%1,800 1,800 Total long-term investments$2,239