New Risk • May 12
New major risk - Revenue and earnings growth Earnings have declined by 66% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 66% per year over the past 5 years. Minor Risk Currently unprofitable and not forecast to become profitable next year (US$7.9m net loss next year). Reported Earnings • May 12
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$0.023 (up from US$0.031 loss in 1Q 2025). Revenue: US$312.0m (up 4.5% from 1Q 2025). Net income: US$1.23m (up US$2.87m from 1Q 2025). Profit margin: 0.4% (up from net loss in 1Q 2025). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. New Risk • May 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$97.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • Apr 28
HF Foods Group Inc. to Report Q1, 2026 Results on May 11, 2026 HF Foods Group Inc. announced that they will report Q1, 2026 results After-Market on May 11, 2026 Announcement • Apr 27
HF Foods Group Inc., Annual General Meeting, Jun 05, 2026 HF Foods Group Inc., Annual General Meeting, Jun 05, 2026. Reported Earnings • Mar 18
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: US$0.73 loss per share (improved from US$0.92 loss in FY 2024). Revenue: US$1.23b (up 2.2% from FY 2024). Net loss: US$38.8m (loss narrowed 20% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 2.9% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Announcement • Mar 17
HF Foods Group Inc. Reports Goodwill Impairment Charges for the Fourth Quarter Ended December 31, 2025 HF Foods Group Inc. reported Goodwill Impairment charges for the fourth quarter ended December 31, 2025. For the period, the company reported goodwill impairment charges of $38,815,000 compared to $46,303,000 same quarter a year ago. Announcement • Mar 03
HF Foods Group Inc. to Report Q4, 2025 Results on Mar 16, 2026 HF Foods Group Inc. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Mar 16, 2026 New Risk • Feb 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$93.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Announcement • Jan 21
HF Foods Group Inc. Announces Resignation of Maria Ross as Lead Independent Director, Effective January 16, 2025 On January 15, 2026, Maria Ross notified HF Foods Group Inc. (the “Company”) of her resignation from the board of directors (the “Board”) of the Company, all committees thereof, and as Lead Independent Director, effective January 16, 2025. Ms. Ross’s resignation from the Board was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Reported Earnings • Nov 11
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: US$0.021 loss per share (improved from US$0.075 loss in 3Q 2024). Revenue: US$307.0m (up 2.9% from 3Q 2024). Net loss: US$1.12m (loss narrowed 72% from 3Q 2024). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Announcement • Oct 28
HF Foods Group Inc. to Report Q3, 2025 Results on Nov 10, 2025 HF Foods Group Inc. announced that they will report Q3, 2025 results After-Market on Nov 10, 2025 Announcement • Sep 26
HF Foods Group Inc. has filed a Follow-on Equity Offering in the amount of $100 million. HF Foods Group Inc. has filed a Follow-on Equity Offering in the amount of $100 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Reported Earnings • Aug 12
Second quarter 2025 earnings released: EPS: US$0.023 (vs US$0 in 2Q 2024) Second quarter 2025 results: EPS: US$0.023 (up from US$0 in 2Q 2024). Revenue: US$314.9m (up 4.1% from 2Q 2024). Net income: US$1.22m (up US$1.20m from 2Q 2024). Profit margin: 0.4% (up from 0% in 2Q 2024). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 98 percentage points per year, which is a significant difference in performance. Announcement • Jul 29
HF Foods Group Inc. to Report Q2, 2025 Results on Aug 11, 2025 HF Foods Group Inc. announced that they will report Q2, 2025 results After-Market on Aug 11, 2025 Board Change • Jul 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Director Peter Zhang Zhang is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jun 06
HF Foods Group Inc. Announces Board and Committee Changes On June 1, 2025 and June 2, 2025, respectively, Lisa Lim and Charlotte Westfall notified the Company of their resignations from the board of directors (Board) of HF Foods Group Inc. (Company) and all committees thereof, each effective June 2, 2025. Neither Ms. Lim’s nor Ms. Westfall’s resignation from the Board was the result of any disagreement with the Company on any matter relating to the company’s operations, policies or practices. As a result of the resignations, Ms. Lim and Ms. Westfall did not stand for re-election as members of the Board at the Company’s Annual Meeting of Stockholders held on June 3, 2025. Effective June 4, 2025, the Board appointed Dennis Lam as a member of the Board to fill one of the two vacancies resulting from the resignations referred to above. Dennis Lam, age 41, is a certified public accountant and the owner of Lam Advisory, LLC, a business consulting service. Mr. Lam is a former audit partner with the national accounting firm BDO USA, P.C. (“BDO”). He has over 20 years of experience in providing audit and advisory services to global and domestic public and private companies, ranging from startups to companies with over $1 billion in revenues. During his tenure with BDO, Mr. Lam served as the lead audit partner for numerous companies in the retail and consumer products, manufacturing, distribution, and foodservice industries. His accounting and finance experience includes expertise in various types of transactions such as debt and equity issuances, public offerings, and mergers and acquisitions. Mr. Lam is currently a member of the Board of Governors of the Boys and Girls Clubs of Santa Monica. Mr. Lam received his Bachelor of Arts in Economics from the University of California, Los Angeles. The Board has determined that Mr. Lam is an independent director under applicable Company and Nasdaq standards and has been named to serve as the Chair of the Audit Committee of the Board and as a member of the Compensation Committee and the Nominating and Governance Committee of the Board. The Board has commenced a search process for a new independent director to fill the remaining vacancy on the Board resulting from the two resignations referred to above. On June 4, 2025, the Board appointed Maria Ross to serve as the Lead Independent Director of the Board, effective immediately. Reported Earnings • May 13
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: US$0.031 loss per share (further deteriorated from US$0.013 loss in 1Q 2024). Revenue: US$298.4m (flat on 1Q 2024). Net loss: US$1.65m (loss widened 137% from 1Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. New Risk • Apr 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Announcement • Apr 28
HF Foods Group Inc., Annual General Meeting, Jun 03, 2025 HF Foods Group Inc., Annual General Meeting, Jun 03, 2025. New Risk • Mar 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: US$0.92 loss per share (further deteriorated from US$0.04 loss in FY 2023). Revenue: US$1.20b (up 4.6% from FY 2023). Net loss: US$48.5m (loss widened US$46.3m from FY 2023). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 2.5% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Announcement • Mar 14
HF Foods Group Inc. Reports Impairment Charges for the Fourth Quarter Ended December 31, 2024 HF Foods Group Inc. reported impairment charges for the fourth quarter ended December 31, 2024. For the quarter, the company reported Goodwill impairment charges of $46,303,000. New Risk • Feb 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$97.6m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$18m). Market cap is less than US$100m (US$97.6m market cap). Announcement • Dec 20
HF Foods Group Inc. Appoints Felix Lin as Chief Executive Officer, Effective January 1, 2025 HF Foods Group Inc. announced that its Board of Directors has appointed Felix Lin as permanent Chief Executive Officer, effective January 1, 2025. Mr. Lin had previously served as President and Chief Operating Officer (COO) and was appointed to the additional role of Interim CEO in October 2024. Mr. Lin has been a key leader of HF Foods for the past five years, and his extensive experience in driving both operations and strategy has been integral as the Company executes its transformation plan. In accepting his new role, Mr. Lin will relinquish his position as HF Foods COO. His responsibilities will be seamlessly distributed among the Company's experienced senior management team, ensuring continued operational excellence as Mr. Lin assumes his new role as CEO. Mr. Lin will also be nominated to join HF Foods Board of Directors during its next election cycle in June 2025. Reported Earnings • Nov 13
Third quarter 2024 earnings released: US$0.075 loss per share (vs US$0.035 profit in 3Q 2023) Third quarter 2024 results: US$0.075 loss per share (down from US$0.035 profit in 3Q 2023). Revenue: US$298.4m (up 6.0% from 3Q 2023). Net loss: US$3.94m (down 309% from profit in 3Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Announcement • Oct 28
HF Foods Group Inc. Announces Chief Executive Officer Changes HF Foods Group Inc. announced the appointment of Felix Lin as Interim Chief Executive Officer (CEO). Mr. Lin assumes the role of CEO, in addition to his current roles of President and Chief Operating Officer (COO). Mr. Lin replaces HF Foods’ previous CEO, Peter Zhang. The leadership transition is not due to any disagreement with Mr. Zhang regarding the Company’s financial reporting, policies or practices. Mr. Zhang remains on the Board of Directors. With extensive experience in operational management and financial strategy, Mr. Lin has been a pivotal leader at HF Foods for the past five years, contributing significantly through his roles on both the management team and the Board of Directors. In addition to his current roles of President and COO, he was previously a member of the Board of Directors and has served as Interim Chief Financial Officer. His contributions have been key in executing the Company’s transformation plan. Prior to HF Foods, Mr. Lin served as Vice President for Blue Bird Corporation, a leading school bus manufacturer in North America, where he oversaw human resources, corporate and operations training, government relations, compliance and strategy. Earlier in his career, Mr. Lin held leadership roles in Finance, Manufacturing Operations, Supply Chain and worked as a key member of the China and Middle East business development team for Blue Bird Corporation under Cerberus Capital Management, LLP. He served as an Independent Board Member for HF Foods from November 2019 to April 2022, where he served as Chairman of the Audit Committee and the Special Investigation Committee. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$3.69, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 19x in the Consumer Retailing industry in the US. Total loss to shareholders of 39% over the past three years. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: US$0 (vs US$0.016 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0 (improved from US$0.016 loss in 2Q 2023). Revenue: US$302.3m (up 3.4% from 2Q 2023). Net income: US$17.0k (up US$867.0k from 2Q 2023). Profit margin: 0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Large one-off items impacting financial results. Announcement • Aug 01
HF Foods Group Inc. to Report Q2, 2024 Results on Aug 06, 2024 HF Foods Group Inc. announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 Board Change • Aug 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. CEO & Director Peter Zhang Zhang is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$3.87, the stock trades at a trailing P/E ratio of 66.4x. Average trailing P/E is 22x in the Consumer Retailing industry in the US. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$3.25, the stock trades at a trailing P/E ratio of 55.8x. Average trailing P/E is 21x in the Consumer Retailing industry in the US. Total loss to shareholders of 39% over the past three years. Announcement • Jul 06
HF Foods Group Inc. Announces Board Changes HF Foods Group Inc. announced the appointment of Dr. Yujie Wang to the Company’s board of directors effective immediately. Simultaneously with the appointment of Dr. Wang, Prudence Kuai has departed from her position as a director of the Company. As a result of the appointment of Dr. Wang, the Company’s board of directors continues to be comprised of four independent directors and Mr. Peter Zhang, the CEO of the Company. Dr. Wang is a veteran of the food production industry with more than 25 years of experience in product development, sales, and general management, with specialization in key account management, technical expertise in product development and support for quick service restaurants, and personnel and organizational development. Dr. Wang holds a PhD in Food Engineering from Kansas State University. Board Change • Jul 02
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. CEO & Director Peter Zhang Zhang is the most experienced director on the board, commencing their role in 2019. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 28
HF Foods Group Inc. Announces Board Changes HF Foods Group Inc. announced the appointment of Maria Ross to the Company’s board of directors effective immediately. Simultaneously with the appointment of Ms. Ross, Dr. Hong Wang has departed from his position as a director of the Company. As a result of the appointment of Ms. Ross, the Company’s board of directors continues to be comprised of four independent directors and Mr. Peter Zhang, the CEO of the Company. Ms. Ross is a supply chain executive with over 30 years of experience, focused on team development, strategic planning and operational execution in manufacturing, grocery and retail. Prior to her appointment as a member of the Company’s board of directors, Ms. Ross held positions with Nike, The Fresh Market, BJ’s Wholesale Club, Oldcastle Inc. and The Home Depot wherein she focused on supply chain and logistics matters. Announcement • Jun 13
HF Foods Group Inc. Announces Board Appointments HF Foods Group Inc. announced the appointment of Lisa Lim and Charlotte Westfall to the Company’s board of directors effective June 7, 2024. As a result of the appointments of Ms. Lim and Ms. Westfall, the Company’s board of directors will now include four independent directors and Mr. Peter Zhang, the CEO of the Company. Ms. Lim, a retired partner with the global professional services organization, Ernst & Young (“EY”), is a seasoned global business leader, SEC-qualified financial expert and CPA with 39 years of experience advising Fortune 100 and growth companies on strategic business development, digital transformations, acquisitions & divestitures, supply chain, tax planning and IPO readiness. During her tenure at EY, Ms. Lim also provided exceptional global relationship management to her clients by collaborating, building relationships and leading global teams. Ms. Westfall is a corporate partner based in the San Francisco office of a US global law firm. As a corporate and securities attorney, Ms. Westfall counsels public companies on corporate governance, securities compliance and mergers and acquisitions. In addition, Ms. Westfall advises clients on US-China cross-border business transactions, as well as market entry strategy, corporate development and branding for Chinese companies seeking investment opportunities in the US, and US companies seeking access to the Chinese market. Announcement • May 03
HF Foods Group Inc. to Report Q1, 2024 Results on May 08, 2024 HF Foods Group Inc. announced that they will report Q1, 2024 results Pre-Market on May 08, 2024 Announcement • Apr 13
HF Foods Group Inc. Announces Departure of Carlos Rodriguez, Chief Financial Officer HF Foods Group Inc. announced that effective April 8, 2024, Carlos Rodriguez has departed the Company and will no longer serve as the Chief Financial Officer of the Company. Mr. Rodriguez’s departure from the Company was not the result of any disagreement with the Company on any matter related to the Company’s operations, policies or practices. As previously reported, Xi Lin (aka Felix Lin), the Company’s President and Chief Operating Officer, has served as the Company’s interim Chief Financial Officer since February 9, 2024. The Company has commenced a search for a permanent Chief Financial Officer. Mr. Lin will continue to serve in the role of interim Chief Financial Officer until the Company appoints a permanent Chief Financial Officer. Announcement • Mar 15
HF Foods Group Inc. announced delayed annual 10-K filing On 03/14/2024, HF Foods Group Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Mar 14
Full year 2023 earnings released: US$0.04 loss per share (vs US$0.009 profit in FY 2022) Full year 2023 results: US$0.04 loss per share (down from US$0.009 profit in FY 2022). Revenue: US$1.15b (down 1.9% from FY 2022). Net loss: US$2.17m (down US$2.63m from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Announcement • Mar 08
HF Foods Group Inc. to Report Q4, 2023 Results on Mar 14, 2024 HF Foods Group Inc. announced that they will report Q4, 2023 results Pre-Market on Mar 14, 2024 Announcement • Feb 10
HF Foods Group Inc. Appoints Felix Lin as President of the Company HF Foods Group Inc. announced the appointment of Mr. Xi Lin (aka Felix Lin) as President of the Company, in addition to his current role as the Company’s Chief Operating Officer, effective February 12, 2024. Mr. Lin has served as the Company’s Chief Operating Officer since May 1, 2022. He also previously served as an Independent Board Member for the Company from November 2019 to April 2022. Mr. Lin’s experience includes serving as Vice President and a Senior Strategy Officer for Blue Bird Corporation (the leading school bus manufacturer in North America), overseeing Human Resources, Corporate and Operations Training, Government Relations, Compliance, and Strategy. During his time at Blue Bird Corporation, Mr. Lin also held leadership positions in Manufacturing Operations, Supply Chain, Finance, and Accounting. Earlier in his career, Mr. Lin worked as a key member of the China and Middle East business development team for Blue Bird Corporation under Cerberus Capital Management, LLP. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: US$0.035 (vs US$0.072 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.035 (up from US$0.072 loss in 3Q 2022). Revenue: US$281.5m (down 6.4% from 3Q 2022). Net income: US$1.88m (up US$5.75m from 3Q 2022). Profit margin: 0.7% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Nov 04
HF Foods Group Inc. to Report Q3, 2023 Results on Nov 09, 2023 HF Foods Group Inc. announced that they will report Q3, 2023 results After-Market on Nov 09, 2023 Recent Insider Transactions • Sep 11
CEO & Director recently bought US$113k worth of stock On the 7th of September, Xiao Mou Zhang bought around 25k shares on-market at roughly US$4.53 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth US$265k. Xiao Mou has been a buyer over the last 12 months, purchasing a net total of US$597k worth in shares. Recent Insider Transactions • Aug 31
CEO & Director recently bought US$265k worth of stock On the 28th of August, Xiao Mou Zhang bought around 55k shares on-market at roughly US$4.82 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Xiao Mou has been a buyer over the last 12 months, purchasing a net total of US$484k worth in shares. Recent Insider Transactions • Aug 21
CEO & Director recently bought US$218k worth of stock On the 17th of August, Xiao Mou Zhang bought around 45k shares on-market at roughly US$4.85 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Xiao Mou's only on-market trade for the last 12 months. Reported Earnings • Aug 10
Second quarter 2023 earnings released: US$0.016 loss per share (vs US$0.085 profit in 2Q 2022) Second quarter 2023 results: US$0.016 loss per share (down from US$0.085 profit in 2Q 2022). Revenue: US$292.3m (down 2.4% from 2Q 2022). Net loss: US$850.0k (down 119% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 130% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • May 16
Irrevocable Trust Withdraws its Slate of Nominees to the Board of HF Foods Group Inc On May-15-2023, Irrevocable Trust for Raymond Ni announced that on May 12, 2023, it determined to withdraw its slate of nominees for election to the Board of HF Foods Group Inc at the annual meeting and it will not be soliciting any proxies in connection with the election of directors at the annual meeting. Irrevocable Trust expressed that notwithstanding its withdrawal of director nominees, it intends to monitor the situation at the Company closely and are concerned that the current Board is prioritizing self-preservation over the best interests of stockholders. The Board’s rejection of the Irrevocable Trust’ nominations, without identifying any specific deficiencies in the nomination notice, has only strengthened Irrevocable Trust’ concerns regarding the direction of the Company under its current leadership. As such, Irrevocable Trust will not hesitate to take any actions that they believe are necessary to protect the best interests of stockholders. Reported Earnings • May 12
First quarter 2023 earnings released: US$0.11 loss per share (vs US$0.058 profit in 1Q 2022) First quarter 2023 results: US$0.11 loss per share (down from US$0.058 profit in 1Q 2022). Revenue: US$293.9m (up 5.6% from 1Q 2022). Net loss: US$5.93m (down 291% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 127% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • May 06
Irrevocable Trust for Raymond Ni Issues a Statement with HF Foods Group Inc On May 5, 2023, Irrevocable Trust for Raymond Ni announced that it wishes to nominate other candidates to the HF Foods Group Inc’s board of directors, which it believes are qualified and are more suited than the current directors, all in order to improve the Company’s performance and thinking solely of the best interests of the Company’s stakeholders and to the benefit of the investments of all shareholders. Buying Opportunity • Mar 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 6.1%. The fair value is estimated to be US$4.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 102%. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to US$4.31, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 20x in the Consumer Retailing industry in the US. Total loss to shareholders of 77% over the past three years. Announcement • Jan 23
HF Foods Group Receives Written Notice from Nasdaq Regarding Not in Compliance Due to Failure to Hold an Annual Meeting of Shareholders On January 17, 2023, HF Foods Group Inc. received written notice (the ‘Notice’) from the Listing Qualifications Department of the Nasdaq Stock Market, LLC (‘Nasdaq’) stating that Nasdaq had determined that the Company was not in compliance with Nasdaq Listing Rule 5260(a) due to the Company’s failure to hold an annual meeting of shareholders (an ‘Annual Meeting’) within the twelve months following the end of the Company’s fiscal year ended December 31, 2021. The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market. Pursuant to the Notice, the Company has seven calendar days (until January 24) to submit a plan to regain compliance with Nasdaq Listing Rule 5260(a). The Company intends to present its views to the staff of Nasdaq with respect to the fact that an Annual Meeting was not held in 2022, and to request that the Panel grant an exception in order for the Company to hold an Annual Meeting at a later date. Under applicable Nasdaq Listing Rule 5815, the Panel has the discretion to grant an exception of up to 360 days following January 1, 2023, in order for the Company to hold an Annual Meeting. As previously disclosed, in addition to the foregoing the Company is not in compliance with the timely filing requirements for continued listing under Nasdaq Listing Rule 5250(c)(1) as a result of the Company’s delay in filing its Quarterly Report on Form 10-Q for the three months ended September 30, 2022, its Quarterly Report on Form 10-Q for the three months ended June 30, 2022, its Quarterly Report on Form 10-Q for the three months ended March 31, 2022, and its Annual Report on Form 10-K for the year ended December 31, 2021 (collectively, the ‘Delinquent Reports’). The Company intends to submit a plan of compliance as requested pursuant to the Notice and to schedule its Annual Meeting as soon as is practicable following the filing of the Delinquent Reports. Announcement • Jan 20
HF Foods Group Inc. Appoints Ms. Prudence C. Kuai as Member of the Board HF Foods Group Inc. (Company), upon the recommendation of the Nominations and Governance Committee of the Board, appointed Ms. Prudence C. Kuai as a member of the Board effective January 17, 2023. Ms. Kuai is not party to any transaction, or series of transactions, required to be disclosed pursuant to Item 404(a) of Regulation S-K. Ms. Kuai was not selected as a director pursuant to any arrangement or understanding between her and any other person. The Board has determined that Ms. Kuai is an independent director under applicable Company and Nasdaq standards and has been named to serve on the Company’s Nominations and Governance, Compensation, and Audit Committees. Prudence Kuai, a 25-year veteran of the healthcare industry and a thought leader in applying technological advancements in operational process automation, eCommerce, utilization of artificial intelligence and data analytics. As a result of Ms. Kuai’s appointment, the Company’s board of directors will now include four independent directors and Mr. Peter Zhang, the CEO of the Company. Ms. Kuai has led the Information Technology function as CIO for many leading healthcare companies. Ms. Kuai has demonstrated her solid and extensive technology and operations experience in supporting business growth via organic and merger/acquisition strategies. Ms. Kuai received a master’s degree in mathematics from the University of Texas, Arlington, and a bachelor’s degree in mathematics from National Taiwan University. Board Change • Nov 10
High number of new directors Independent Director Valerie Chase was the last director to join the board, commencing their role in 2021. Board Change • Jan 22
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Felix Lin Lin is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jul 02
HF Foods Group Inc.(NasdaqCM:HFFG) dropped from Russell 3000 Growth Index HF Foods Group Inc.(NasdaqCM:HFFG) dropped from Russell 3000 Growth Index 
