HF Foods Group Inc.

HF Foods Group, Inc. is a food service distributor and marketer. It distributes fresh produce, frozen and dry food, and non-food products primarily to Asian and Chinese restaurants, and other foodservice customers throughout the Southeast, Pacific, and Mountain West regions of the United States. The firm currently has 14 distribution centers along the U.S. Eastern and Western seaboards. The company was founded in 1997 and is headquartered in Las Vegas, NV.

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HF Foods Group reports improved Q4 earnings amidst operational transformation

HF Foods Group Inc. delivered a strong financial performance in Q4 2023, marked by improved profitability metrics and operational efficiencies.
While facing challenges such as declining net revenue and increased interest expenses, the company's strategic initiatives are driving positive results and positioning it for future growth.
By capitalizing on opportunities to further optimize operations, explore new revenue streams, and expand market presence, HF Foods Group can navigate challenges and drive sustainable growth.
Investors should monitor the company's ability to sustain profitability amidst market dynamics and capitalize on operational improvements and growth opportunities.

HF Foods Group achieves record revenue in Q1 2024

HF Foods Group's Q1 2024 performance reflects positive revenue growth and operational improvements, despite challenges in achieving profitability.
Strategic initiatives and leadership changes position the company for future growth and efficiency gains, with a focus on sustainable long-term success.
Exploration of M&A opportunities and continued focus on operational enhancements offer avenues for HF Foods Group to capitalize on growth prospects and navigate industry challenges.

HF Foods Group reports strong Q2 earnings and growth strategies

HF Foods Group Inc. delivered a solid performance in Q2 2024, showing growth in key financial metrics and a focus on enhancing shareholder value.
While facing challenges such as increased interest expenses, the company remains well-positioned with available funds and a strategic approach to drive future growth.
By capitalizing on operational improvements and pursuing strategic opportunities, HF Foods Group can continue on a positive trajectory and strengthen its market presence.

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HF Foods Group, Inc. engages in the marketing and distribution of fresh produce, frozen and dry food, and non-food products to primarily independently operated Asian restaurants and other foodservice customers. The company leverages its network of distribution centers covering the United States, and partners with domestic and international suppliers to offer fresh, specialty restaurant food products to supply the demand for Asian American cuisine. HF Foods was founded in 1997 and is headquartered in Las Vegas, NV.

LAS VEGAS, April 26, 2023 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), today announced that the Company has entered into a proposed settlement of a previously disclosed pending stockholder derivative complaint in the Court of Chancery of the State of Delaware (the “Court”) with respect to certain current and former officers and directors of the Company (the “Delaware Action”). The full terms of the settlement of the Delaware Action are to be incorporated into a long-form settlement agreement, which is subject to approval of the Court. Upon the execution of the long-form settlement agreement, the Delaware Action will be dismissed with prejudice, thereby resolving all existing and potential liability against all named defendants in the Delaware Action.

HF Foods Announces Proposed Settlement of Stockholder Derivative Complaint

LAS VEGAS, April 11, 2023 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), today announced that the Board of Directors (the “Board”) has approved the adoption of a limited duration stockholder rights plan (the “Rights Plan”) and declared a dividend distribution of one right (“Right”) for each outstanding share of the Company's common stock to stockholders of record as of the close of business on April 24, 2023.

HF Foods Adopts Limited Duration Stockholder Rights Plan

Annual Meeting to be held on June 1, 2023

HF Foods Announces Filing of 2022 Annual Report and Date of Combined 2022 & 2023 Annual Meeting of Stockholders

Full Year Net Revenue up 47% to $1.2 Billion

HF Foods Reports Fourth Quarter and Full Year 2022 Financial Results

LAS VEGAS, Feb. 14, 2023 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), announced today that it expects to hold its annual shareholders meetings for fiscal years ended December 31, 2021, and December 31, 2022, in a combined meeting (the “Combined Shareholders Meeting”) to be held no later than June 30, 2023, allowing it to regain compliance with Nasdaq Listing Rule 5620(a) and resolve the final pending Nasdaq delisting determination.

HF Foods Provides Update on Annual Meeting of Shareholders

LAS VEGAS, Jan. 31, 2023 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), announced today that the Company has filed its Form 10-K for the year ended December 31, 2021, its Form 10-Q for the quarter ended March 31, 2022, its Form 10-Q for the quarter ended June 30, 2022, and its Form 10-Q for the quarter ended September 30, 2022 with the Securities and Exchange Commission (the “SEC”). The Company believes that it is now in full compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the SEC.

HF Foods Provides Update to Shareholders

LAS VEGAS, Jan. 19, 2023 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants throughout the United States (“HF Foods”, “HF Group” or the “Company”), has appointed 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, to the Company's board of directors effective January 17, 2023.

HF Foods Appoints Prudence Kuai to its Board of Directors

LAS VEGAS, Nov. 17, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), announced today that the Company received an additional notification letter from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”) on November 14, 2022 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”). The Nasdaq notification letter was sent as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 (the “Q3 Form 10-Q”) and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2021 (the “Form 10-K”), its Form 10-Q for the quarter ended March 31, 2022 (the “Q1 2022 Form 10-Q”) and its Form 10-Q for the quarter ended June 30, 2022 (the “Q2 2022 Form 10-Q” and, together with the Form 10-K, the Q1 2022 Form 10-Q and the Q3 2022 Form 10-Q, the “Delinquent Reports”). The Nasdaq notification letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.

HF Foods Announces Receipt Of Additional Non-Compliance Letter From Nasdaq And Extension Of Stay Of Delisting Proceedings Until January 31, 2023

Net Revenue up 40% to $300.7 million Net Revenue up 40% to $300.7 million

HF Foods Reports Third Quarter 2022 Financial Results

LAS VEGAS, Oct. 04, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), announced today that the Company received a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”) on September 28, 2022 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”). As previously disclosed, the Company was unable to timely file its Annual Report on Form 10-K for the year ended December 31, 2021 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022. The Staff Determination will not immediately result in the suspension of trading or delisting of the Company's common stock, and the Nasdaq Listing Rules provide a procedure for the Company to appeal the Staff Determination and seek a stay pending the appeal as described below.

HF Foods Announces Receipt of Delisting Determination From Nasdaq; Requests Hearing

Net Revenue up 55% to $300 million Net Revenue up 55% to $300 million

HF Foods Reports Second Quarter 2022 Financial Results

LAS VEGAS, July 14, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants throughout the United States (“HF Foods”, “HF Group” or the “Company”), is pleased to announce the appointment of Mr. Carlos A. Rodriguez as Chief Financial Officer, effective on or before August 1, 2022. Mr. Rodriguez will report directly to Mr. Peter Zhang, Chief Executive Officer of the Company.

HF Foods Appoints Carlos Rodriguez as Chief Financial Officer

LAS VEGAS, July 07, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants throughout the United States (“HF Foods”, “HF Group” or the “Company”), has appointed Jose Maroto to the Company's board of directors effective July 1, 2022. Mr. Maroto is a 29-year veteran in the foodservice industry with experience in foodservice distribution, cash and carry, international market expansion, and other ancillary businesses.

HF Foods Appoints Jose Maroto to its Board of Directors

LAS VEGAS, May 18, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), announced today that the Company received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”) on May 12, 2022 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”). The Nasdaq notification letter was sent as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 (the “Form 10-Q”). The Nasdaq notification letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.

HF Foods Announces Receipt of Additional Non-Compliance Letter From Nasdaq

Net Revenue up 75% to $278.2 Million Net Revenue up 75% to $278.2 Million

HF Foods Reports First Quarter 2022 Financial Results

LAS VEGAS, April 25, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods”, “HF Group” or the “Company”), announced today that it has entered into an agreement (the “Agreement”) to acquire substantially all of the assets of Sealand Food, Inc. (“Sealand”).

HF Foods To Acquire Seafood Supplier Sealand Food, Inc.

LAS VEGAS, April 07, 2022 (GLOBE NEWSWIRE) -- HF Foods Group, Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), announced today that the Company received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”) on April 1, 2022 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”). The Nasdaq notification letter was sent as a result of the Company's delay in filing its Annual Report on Form 10-K for the year ended December 31, 2021 (the “Form 10-K”). The Nasdaq notification letter has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.

HF Foods Announces Receipt of Non-Compliance Letter From Nasdaq

LAS VEGAS, April 05, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods”, “HF Group” or the “Company”), reported fourth quarter and full year unaudited financial results for the year ended December 31, 2021.

HF Foods Reports Fourth Quarter and Full Year 2021 Unaudited Financial Results

LAS VEGAS, Jan. 04, 2022 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods”, “HF Group” or the “Company”), announced today it has completed the acquisition of the business operations of Great Wall Seafood Supply Inc., Great Wall Restaurant Supplier Inc. and First Mart Inc. (collectively the “Great Wall Group”).

HF Foods Acquires Leading Seafood Supplier Great Wall Group

LAS VEGAS, Dec. 15, 2021 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the Southeast, Pacific and Mountain West regions of the United States (“HF Foods”, “HF Group” or the “Company”), has appointed Valerie P. Chase, an accounting and finance executive with over 15 years of public company and public accounting experience, to the Company's board of directors effective December 13, 2021.

HF Foods Appoints Valerie P. Chase to its Board of Directors

Net Revenue up 54% to $215.5 Million With Net Income Attributable to the Company of $7.9 Million and a 191% Increase in Adjusted EBITDA to $17.4 Million Net Revenue up 54% to $215.5 Million With Net Income Attributable to the Company of $7.9 Million and a 191% Increase in Adjusted EBITDA to $17.4 Million

HF Foods Reports Record Third Quarter 2021 Financial Results

CITY OF INDUSTRY, Calif., Sept. 10, 2021 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian/Chinese restaurants across the Southeast, Pacific and Mountain West regions of the United States (“HF Group” or the “Company”), announces the appointment of BDO USA, LLP (“BDO”) as the Company's independently registered public accounting firm as of September 8, 2021.

HF Foods Group Announces the Appointment of BDO as Independent Accountant

Net Revenue up 85.1% to $193.5 Million With Net Income Attributable to the Company of $3.6 Million and a 249.2% Increase in Adjusted EBITDA to $11.9 Million Net Revenue up 85.1% to $193.5 Million With Net Income Attributable to the Company of $3.6 Million and a 249.2% Increase in Adjusted EBITDA to $11.9 Million

HF Foods Reports Strong Second Quarter 2021 Financial Results

Philadelphia, Pennsylvania--(Newsfile Corp. - August 7, 2021) - Kaskela Law LLC announces that it is investigating HF Foods Group Inc. ("HF Foods" or the "Company") (NASDAQ: HFFG) on behalf of the Company's stockholders. Recently an amended securities fraud complaint was filed against HF Foods on behalf of investors who purchased shares of the Company's common stock between August 23, 2018 and November 9, 2020. According to the complaint, during that time period...

Kaskela Law LLC Announces Investigation of HF Foods Group Inc. (HFFG) and Encourages Long-Term Stockholders to Contact the Firm

CITY OF INDUSTRY, Calif., Aug. 04, 2021 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian/Chinese restaurants across the Southeast, Pacific and Mountain West regions of the United States (“HF Group” or the “Company”), announces the appointment of Ms. Christine Chang as General Counsel and Chief Compliance Officer of the Company. Ms. Chang will officially join the Company on September 8, 2021. She will report jointly to the CEO and the Chairman of the Board of Directors of HF Group.

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