Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 118

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 such transactions as of June 30, 2025 and December 31, 2024 are listed of the following:Prepayments — related partiesName of Related PartyAs ofJune 30,2025As ofDecember 31,2024USDUSDFocal Capital Holding Limited$6,617,816 $9,975,298 Foremost Worldwide Co., Ltd.6,485,000 — $13,102,816 $9,975,298 Accounts Payables — related partiesName of Related PartyAs ofJune 30,2025As ofDecember 31,2024USDUSDForemost Worldwide Co., Ltd.$—$718,605Rizhao Foremost Woodwork Manufacturing Co., Ltd.83,99256,389F.P.Z. Furniture (Cambodia) Co., Ltd.119,666119,667$203,658$894,661 Shared Service and Miscellaneous expenses – related partyFGI Industries is party to the FHI Shared Services Agreement with FHI. Total amounts provided to FHI under the FHI Share Services Agreement were $172,573 and $187,050 for the three months ended June 30, 2025 and 2024, respectively, and $343,536 and $362,962 for the six months ended June 30, 2025 and 2024, respectively, which were booked under selling and distribution expenses and administration expenses. FGI is party to the Worldwide Shared Services Agreement with Foremost Worldwide. Total amounts provided from Foremost Worldwide under the Worldwide Shared Services Agreement were $72,875 and $60,682 for the three months ended June 30, 2025 and 2024, respectively, and $133,571 and $134,596 for the six months ended June 30, 2025 and 2024, respectively.

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Other Receivables (Payables) — related partiesName of Related PartyRelationshipNature ofTransactionsAs ofJune 30,2025As ofDecember 31,2024USDUSDForemost Home Inc. (“FHI”)An entity under common controlShared services and Miscellaneous expenses3,205,211 2,654,286 Foremost Worldwide Co., Ltd.An entity under common controlShared services and Miscellaneous expenses(85,141)(340,901)Focal Capital Holding LimitedAn entity under common controlMiscellaneous expenses9,104 — F.P.Z. Furniture (Cambodia) Co., Ltd.An entity under common control