Company: FGI
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001628280-25-025588
Chunk: 22

Company: FGI Industries Ltd.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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10,181,117 8,734,417 Loss from operations(1,280,859)(320,934)Other income (expenses)  Interest income441 554 Interest expense(302,760)(222,207)Other income, net28,091 27,017 Total other expenses, net(274,228)(194,636)Loss before income taxes(1,555,087)(515,570)Provision for (benefit of) income taxes  Current19,168 70,832 Deferred(758,698)(48,543)Total (benefit of) provision for income taxes(739,530)22,289 Net loss(815,557)(537,859)Less: net loss attributable to non-controlling shareholders(186,465)(125,670)Net loss attributable to FGI Industries Ltd. shareholders(629,092)(412,189)Other comprehensive income (loss)  Foreign currency translation adjustment 86,432 (22,578)Comprehensive loss(729,125)(560,437)Less: comprehensive loss attributable to non-controlling shareholders(186,465)(125,670)Comprehensive loss attributable to FGI Industries Ltd. shareholders$(542,660)$(434,767)Weighted average number of ordinary shares  Basic9,578,9839,547,607Diluted9,578,9839,547,607Loss per shareBasic$(0.07)$(0.04)Diluted$(0.07)$(0.04)

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

7

FGI INDUSTRIES LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’

EQUITY

Preference SharesOrdinary SharesAdditionalPaid-inCapitalRetainedEarningsAccumulatedOtherComprehensiveLossTotal FGIIndustries Ltd.Shareholders'EquityNon-ControllingInterestsTotalShareholders'EquityShares Amount Shares AmountBalance at December 31, 2024—$— 9,563,914$956 $21,279,047 $3,212,435 $(2,239,560)$22,252,878 $(687,228)$21,565,650 Share-based compensation—— 25,589 3 76,303 — — 76,306 —