XML 12 R2.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash $ 2,659,190 $ 1,899,801
Accounts receivable, net 13,641,870 13,847,762
Inventories, net 14,228,751 15,292,742
Total current assets 50,936,412 51,543,423
Property and equipment, net 3,751,022 3,853,864
NONCURRENT ASSETS    
Intangible assets, net 1,676,748 1,733,616
Operating lease right-of-use assets, net 10,569,629 11,031,892
Deferred tax assets, net 211,760 211,581
Other noncurrent assets 1,005,031 1,163,205
Total noncurrent assets 17,214,190 17,994,158
Total assets 68,150,602 69,537,581
CURRENT LIABILITIES    
Short-term loans 13,143,690 11,868,828
Operating lease liabilities – current 1,725,768 1,700,936
Accrued expenses and other current liabilities 5,473,531 5,607,405
Total current liabilities 44,256,586 43,914,924
NONCURRENT LIABILITIES    
Operating lease liabilities – noncurrent 9,579,585 10,012,616
Total liabilities 53,836,171 53,927,540
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY    
Preference Shares, value 0 0
Ordinary shares, value 964 960
Additional paid-in capital 21,495,828 21,612,226
Accumulated deficit (3,896,496) (2,927,091)
Accumulated other comprehensive loss (1,438,997) (1,402,946)
FGI Industries Ltd. shareholders’ equity 16,161,299 17,283,149
Non-controlling interests (1,846,868) (1,673,108)
Total shareholders’ equity 14,314,431 15,610,041
Total liabilities and shareholders’ equity 68,150,602 69,537,581
Nonrelated Party    
CURRENT ASSETS    
Prepayments and other current assets and receivables 3,747,712 3,228,259
CURRENT LIABILITIES    
Accounts payable 23,873,453 24,687,900
Related Party    
CURRENT ASSETS    
Prepayments and other current assets and receivables 16,658,889 17,274,859
CURRENT LIABILITIES    
Accounts payable $ 40,144 $ 49,855