Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 44

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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Item 1. Financial Statements.

FGI INDUSTRIES LTD.

INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets as of September 30, 2025 (Unaudited) and December 31, 2024 (Audited)6Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2025 and 20247Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity for the three and nine months ended September 30, 2025 and 20248Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 202410Notes to Unaudited Condensed Consolidated Financial Statements11-29

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Table of Contents

FGI INDUSTRIES LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

As ofSeptember 30, 2025As ofDecember 31, 2024USD USD(Unaudited)ASSETSCURRENT ASSETS  Cash$1,875,682 $4,558,160 Accounts receivable, net18,134,854 20,293,555 Inventories, net12,335,902 13,957,867 Prepayments and other current assets2,607,964 2,091,407 Prepayments and other receivables – related parties17,735,791 11,996,973 Total current assets52,690,193 52,897,962 PROPERTY AND EQUIPMENT, NET3,960,268 3,634,340 OTHER ASSETS  Intangible assets1,784,756 1,849,951 Operating lease right-of-use assets, net11,434,340 12,823,747 Deferred tax assets, net2,024,825 2,665,585 Other noncurrent assets1,143,633 1,589,830 Total other assets16,387,554 18,929,113 Total assets$73,038,015 $75,461,415 LIABILITIES AND SHAREHOLDERS’ EQUITY  CURRENT LIABILITIES  Short-term loans$14,076,346 $14,502,367 Accounts payable22,672,622 19,349,529 Accounts payable – related parties23