HF Foods (HFFG) 10-Q 10 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 07, 2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-38180
Entity Registrant Name	HF FOODS GROUP INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-2717873
Entity Address, Address Line One	6325 South Rainbow Boulevard
Entity Address, Address Line Two	Suite 420
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89118
City Area Code	888
Local Phone Number	905-0988
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		52,610,847
Entity Central Index Key	0001680873
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	HFFG
Security Exchange Name	NASDAQ
Preferred Stock
Title of 12(b) Security	Preferred Share Purchase Rights

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash	$ 18,215	$ 15,232
Inventories	107,908	105,618
Prepaid expenses and other current assets	9,363	10,145
TOTAL CURRENT ASSETS	185,486	178,827
Property and equipment, net	137,989	133,136
Operating lease right-of-use assets	11,815	12,714
Long-term investments	2,389	2,388
Customer relationships, net	144,540	147,181
Trademarks, trade names and other intangibles, net	29,196	30,625
Goodwill	85,118	85,118
Other long-term assets	6,532	6,531
TOTAL ASSETS	603,065	596,520
CURRENT LIABILITIES:
Checks issued not presented for payment	8,663	4,494
Line of credit	55,192	58,564
Current portion of long-term debt, net	5,427	5,450
Current portion of obligations under finance leases	2,299	1,749
Current portion of obligations under operating leases	3,766	3,706
Accrued expenses and other liabilities	17,454	17,287
TOTAL CURRENT LIABILITIES	150,635	143,264
Long-term debt, net of current portion	107,331	108,711
Obligations under finance leases, non-current	14,689	11,229
Obligations under operating leases, non-current	8,493	9,414
Deferred tax liabilities	28,557	29,028
Other long-term liabilities	5,198	6,891
TOTAL LIABILITIES	314,903	308,537
COMMITMENTS AND CONTINGENCIES (Note 13)
SHAREHOLDERS’ EQUITY:
Preferred Stock, $0.001 par value; 1,000,000 shares authorized; no shares issued and outstanding	0	0
Common Stock, $0.0001 par value; 100,000,000 shares authorized; 54,153,391 and 54,153,391 shares issued and 52,155,968 and 52,155,968 shares outstanding as of March 31, 2024 and December 31, 2023, respectively	5	5
Treasury Stock, Common, Value	(7,750)	(7,750)
Additional paid-in capital	603,832	603,094
Accumulated deficit	(309,382)	(308,688)
TOTAL SHAREHOLDERS’ EQUITY ATTRIBUTABLE TO HF FOODS GROUP INC.	286,705	286,661
Noncontrolling interests	1,457	1,322
TOTAL SHAREHOLDERS’ EQUITY	288,162	287,983
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	603,065	596,520
Series A Preferred Stock
SHAREHOLDERS’ EQUITY:
Preferred Stock, $0.001 par value; 1,000,000 shares authorized; no shares issued and outstanding	0	0
Nonrelated Party
CURRENT ASSETS:
Accounts receivable, net of allowances of $2,077 and $2,119	49,705	47,524
CURRENT LIABILITIES:
Accounts payable	57,691	51,617
Related Party
CURRENT ASSETS:
Accounts receivable, net of allowances of $2,077 and $2,119	295	308
CURRENT LIABILITIES:
Accounts payable	$ 143	$ 397

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Allowance for credit loss, current	$ (2,077)	$ (2,119)
Preferred stock. par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	54,153,391	54,153,391
Common stock, outstanding (in shares)	52,155,968	52,155,968
Series A Preferred Stock
Preferred stock. par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	100,000	100,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
TOTAL NET REVENUE	$ 295,654	$ 293,855
TOTAL COST OF REVENUE	245,243	243,683
GROSS PROFIT	50,411	50,172
Distribution, selling and administrative expenses	50,496	52,929
LOSS FROM OPERATIONS	(85)	(2,757)
Other expenses (income):
Interest expense	2,834	2,868
Other income	(94)	(228)
Change in fair value of interest rate swap contracts	(1,970)	2,746
Lease guarantee income	(115)	(120)
LOSS BEFORE INCOME TAXES	(740)	(8,023)
Income tax benefit	(181)	(2,226)
NET LOSS AND COMPREHENSIVE LOSS	(559)	(5,797)
Less: net income attributable to noncontrolling interests	135	136
NET LOSS AND COMPREHENSIVE LOSS ATTRIBUTABLE TO HF FOODS GROUP INC.	$ (694)	$ (5,933)
(LOSS) EARNINGS PER COMMON SHARE - BASIC (in USD per share)	$ (0.01)	$ (0.11)
(LOSS) EARNINGS PER COMMON SHARE - DILUTED (in USD per share)	$ (0.01)	$ (0.11)
WEIGHTED AVERAGE SHARES - BASIC (in shares)	52,155,968	53,822,794
WEIGHTED AVERAGE SHARES - DILUTED (in shares)	52,155,968	53,822,794
Third Party
TOTAL NET REVENUE	$ 294,836	$ 291,562
TOTAL COST OF REVENUE	244,484	241,457
Related Party
TOTAL NET REVENUE	818	2,293
TOTAL COST OF REVENUE	$ 759	$ 2,226

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net loss	$ (559)	$ (5,797)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization expense	6,676	6,689
Provision for credit losses	(40)	57
Deferred tax benefit	(471)	(1,324)
Change in fair value of interest rate swap contracts	(1,970)	2,746
Stock-based compensation	738	1,096
Non-cash lease expense	935	965
Lease guarantee income	(115)	(120)
Other non-cash expense (income)	39	93
Changes in operating assets and liabilities:
Accounts receivable	(2,141)	1,034
Accounts receivable - related parties	13	(416)
Inventories	(2,290)	9,822
Prepaid expenses and other current assets	782	1,238
Other long-term assets	368	(829)
Accounts payable	6,074	2,327
Accounts payable - related parties	(254)	(776)
Operating lease liabilities	(897)	(961)
Accrued expenses and other liabilities	167	(3,274)
Net cash provided by operating activities	7,055	12,570
Cash flows from investing activities:
Purchase of property and equipment	(2,585)	(629)
Net cash used in investing activities	(2,585)	(629)
Cash flows from financing activities:
Checks issued not presented for payment	4,169	(7,852)
Proceeds from line of credit	345,697	298,195
Repayment of line of credit	(349,082)	(306,808)
Repayment of long-term debt	(1,414)	(1,642)
Repayment of obligations under finance leases	(857)	(646)
Net cash used in financing activities	(1,487)	(18,753)
Net increase (decrease) in cash	2,983	(6,812)
Cash at beginning of the period	15,232	24,289
Cash at end of the period	18,215	17,477
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities	36	79
Property acquired in exchange for finance leases	$ 4,867	$ 643

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Total Shareholders’ Equity Attributable to HF Foods Group Inc.	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Noncontrolling Interests	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2022			53,813,777
Beginning balance at Dec. 31, 2022	$ 296,249	$ 291,813	$ 5	$ 598,322	$ (306,514)	$ 4,436	$ 0
Beginning balance, Treasury Stock (in shares) at Dec. 31, 2022							0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(5,797)	(5,933)			(5,933)	136
Issuance of common stock pursuant to equity compensation plan (in shares)			37,847
Shares withheld for tax withholdings on vested awards (in shares)			(7,132)
Shares withheld for tax withholdings on vested awards	(34)	(34)		(34)
Stock-based compensation	1,096	1,096		1,096		0
Ending balance (in shares) at Mar. 31, 2023			53,844,492
Ending balance at Mar. 31, 2023	291,514	286,942	$ 5	599,384	(312,447)	4,572	$ 0
Ending balance, Treasury Stock (in shares) at Mar. 31, 2023							0
Beginning balance (in shares) at Dec. 31, 2023			54,153,391
Beginning balance at Dec. 31, 2023	$ 287,983	286,661	$ 5	603,094	(308,688)	1,322	$ (7,750)
Beginning balance, Treasury Stock (in shares) at Dec. 31, 2023	(1,997,423)						1,997,423
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ (559)	(694)			(694)	135
Stock-based compensation	738	738		738
Ending balance (in shares) at Mar. 31, 2024			54,153,391
Ending balance at Mar. 31, 2024	$ 288,162	$ 286,705	$ 5	$ 603,832	$ (309,382)	$ 1,457	$ (7,750)
Ending balance, Treasury Stock (in shares) at Mar. 31, 2024	(1,997,423)						1,997,423

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Note 1 - Organization and Description of Business Organization and General

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 - Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto that are included in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 26, 2024 (our “2023 Annual Report”). There have been no material changes to our significant accounting policies as compared to the significant accounting policies described in our 2023 Annual Report. All significant intercompany balances and transactions have been eliminated in consolidation. For consolidated entities where we own or are exposed to less than 100% of the economics, the Company records net income (loss) attributable to noncontrolling interest in its condensed consolidated statements of operations and comprehensive loss equal to the percentage of the economic or ownership interest retained in such entity by the respective noncontrolling party. Variable Interest Entities GAAP provides guidance on the identification of a variable interest entity (“VIE”) and financial reporting for an entity over which control is achieved through means other than voting interests. The Company evaluates each of its interests in an entity to determine whether or not the investee is a VIE and, if so, whether the Company is the primary beneficiary of such VIE. In determining whether the Company is the primary beneficiary, the Company considers if the Company (1) has power to direct the activities that most significantly affect the economic performance of the VIE, and (2) has the obligation to absorb losses or the right to receive the economic benefits of the VIE that could be potentially significant to the VIE. If deemed the primary beneficiary, the Company consolidates the VIE. As of March 31, 2024, the Company has one VIE, AnHeart, Inc. (“AnHeart”), for which the Company is not the primary beneficiary and therefore does not consolidate. The Company did not incur expenses from VIEs and did not have any sales to or income from any VIEs during the three months ended March 31, 2024 and 2023. See Note 13 - Commitments and Contingencies for additional information on AnHeart. Noncontrolling Interests GAAP requires that noncontrolling interests in subsidiaries and affiliates be reported in the equity section of the Company’s condensed consolidated balance sheets. In addition, the amounts attributable to the net income (loss) of those noncontrolling interests are reported separately in the condensed consolidated statements of operations and comprehensive loss. As of March 31, 2024 and December 31, 2023, noncontrolling interest equity consisted of the following: ($ in thousands) Ownership of noncontrolling interest at March 31, 2024 March 31, 2024 December 31, 2023 HF Foods Industrial, LLC ("HFFI") 45.00% $ (765) $ (759) Min Food, Inc. 39.75% 1,853 1,715 Monterey Food Service, LLC 35.00% 369 366 Total $ 1,457 $ 1,322 Uses of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during each reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s condensed consolidated financial statements include, but are not limited to, inventory reserves, impairment of long-lived assets, impairment of goodwill, and the purchase price allocation and fair value of assets and liabilities acquired with respect to business combinations. Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires enhanced disclosures about segment expenses on an annual and interim basis. This standard is effective for the Company’s consolidated financial statements for the year ending December 31, 2024 and for interim periods beginning in 2025. The impact of the adoption of this ASU is not expected to have a material effect on the Company’s financial position, or operations, however, the Company is currently evaluating the impact of this standard on its disclosures to the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (“Topic 740”): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires public entities to disclose specific categories in its annual effective tax rate reconciliation and disaggregated information about significant reconciling items by jurisdiction and by nature. ASU 2023-09 also requires entities to disclose their income tax payments (net of refunds) to international, federal, and state and local jurisdictions. This guidance is effective for fiscal years beginning after December 15, 2024, and requires prospective application with the option to apply it retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on the consolidated financial statements and disclosures.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Note 3 - Revenue The following table presents the Company's net revenue disaggregated by principal product categories: Three Months Ended March 31, ($ in thousands) 2024 2023 Seafood $ 94,395 32 % $ 92,890 32 % Asian Specialty 80,209 27 % 77,824 25 % Meat and Poultry 57,750 19 % 52,049 18 % Fresh Produce 32,083 11 % 32,211 11 % Packaging and Other 16,374 6 % 19,396 7 % Commodity 14,843 5 % 19,485 7 % Total $ 295,654 100 % $ 293,855 100 %

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Note 4 - Balance Sheet Components Accounts receivable, net consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Accounts receivable $ 51,782 $ 49,643 Less: allowance for expected credit losses (2,077) (2,119) Accounts receivable, net $ 49,705 $ 47,524 Movement of allowance for expected credit losses was as follows: Three Months Ended March 31, (In thousands) 2024 2023 Beginning balance $ 2,119 $ 1,442 Increase (decrease) in provision for expected credit losses/doubtful accounts (40) 57 Bad debt write-offs (2) (24) Ending balance $ 2,077 $ 1,475 Prepaid expenses and other current assets consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Prepaid expenses $ 4,108 $ 4,591 Advances to suppliers 4,002 3,340 Other current assets 1,253 2,214 Prepaid expenses and other current assets $ 9,363 $ 10,145 Property and equipment, net consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Automobiles $ 41,534 $ 37,256 Buildings 63,045 63,045 Building improvements 22,076 22,014 Furniture and fixtures 419 474 Land 49,929 49,929 Machinery and equipment 11,639 11,532 Construction in progress 3,590 1,391 Subtotal 192,232 185,641 Less: accumulated depreciation (54,243) (52,505) Property and equipment, net $ 137,989 $ 133,136 Depreciation expense was $2.6 million for the three months ended March 31, 2024 and 2023. Long-term investments consisted of the following: (In thousands) Ownership as of March 31, March 31, 2024 December 31, 2023 Asahi Food, Inc. ("Asahi") 49% $ 589 $ 588 Pt. Tamron Akuatik Produk Industri ("Tamron") 12% 1,800 1,800 Total long-term investments $ 2,389 $ 2,388 The investment in Tamron is accounted for using the measurement alternative under Accounting Standards Codification (“ASC”) Topic 321 Investments—Equity Securities , which is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments, if any. The investment in Asahi is accounted for under the equity method due to the fact that the Company has significant influence but does not exercise control over this investee. The Company determined there was no impairment as of March 31, 2024 for these investments. Accrued expenses and other liabilities consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Accrued compensation $ 6,649 $ 7,941 Accrued professional fees 1,399 1,353 Accrued interest and fees 1,181 1,276 Self-insurance liability 1,697 1,723 Other 6,528 4,994 Total accrued expenses and other liabilities $ 17,454 $ 17,287

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	The following table presents the Company's hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the dates indicated: March 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) Assets: Interest rate swaps $ — $ 781 $ — $ 781 $ — $ 412 $ — $ 412 Liabilities: Interest rate swaps $ — $ — $ — $ — $ — $ (1,601) $ — $ (1,601) The Company follows the provisions of ASC Topic 820 Fair Value Measurement which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: • Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. • Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. • Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions about what assumptions market participants would use in pricing the asset or liability based on the best available information. Any transfers of assets or liabilities between Level 1, Level 2, and Level 3 of the fair value hierarchy will be recognized at the end of the reporting period in which the transfer occurs. There were no transfers between fair value levels in any of the periods presented herein. The carrying amounts reported in the condensed consolidated balance sheets for cash, accounts receivable, other current assets, accounts payable, checks issued not presented for payment and accrued expenses and other liabilities approximate their fair value based on the short-term maturity of these instruments. See Note 7 - Derivative Financial Instruments for additional information regarding the Company’s interest rate swaps. Carrying Value and Estimated Fair Value of Outstanding Debt - The following table presents the carrying value and estimated fair value of the Company’s outstanding debt as described in Note 8 - Debt , including the current portion, as of the dates indicated: Fair Value Measurements (In thousands) Level 1 Level 2 Level 3 Carrying Value March 31, 2024 Fixed rate debt: Bank of America $ — $ — $ 139 $ 155 Other finance institutions — — 16 17 Variable rate debt: JPMorgan Chase $ — $ 104,791 $ — $ 104,791 Bank of America — 2,159 — 2,159 East West Bank — 5,636 — 5,636 December 31, 2023 Fixed rate debt: Bank of America $ — $ — $ 151 $ 169 Other finance institutions — — 43 45 Variable rate debt: JPMorgan Chase $ — $ 106,079 $ — $ 106,079 Bank of America — 2,193 — 2,193 East West Bank — 5,675 — 5,675 The carrying value of the variable rate debt approximates its fair value because of the variability of interest rates associated with these instruments. For the Company's fixed rate debt, the fair values were estimated using discounted cash flow analyses, based on the current incremental borrowing rates for similar types of borrowing arrangements. See Note 8 - Debt for additional information regarding the Company's debt. Nonrecurring Fair Values The Company measures fair value of certain assets on a nonrecurring basis when events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. No adjustments to fair value from the write-down of asset values due to impairment were made during the three months ended March 31, 2024 and 2023. There were no assets carried at nonrecurring fair value at March 31, 2024 and December 31, 2023.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangible Assets	Note 6 - Goodwill and Acquired Intangible Assets Goodwill Acquired Intangible Assets The components of the intangible assets are as follows: March 31, 2024 December 31, 2023 (In thousands) Gross Accumulated Net Gross Accumulated Net Non-competition agreement $ 3,892 $ (2,754) $ 1,138 $ 3,892 $ (2,429) $ 1,463 Trademarks and trade names 44,207 (16,149) 28,058 44,207 (15,045) 29,162 Customer relationships 185,266 (40,726) 144,540 185,266 (38,085) 147,181 Total $ 233,365 $ (59,629) $ 173,736 $ 233,365 $ (55,559) $ 177,806

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 7 - Derivative Financial Instruments Derivative Instruments The Company utilizes interest rate swaps ("IRS") for the sole purpose of mitigating interest rate fluctuation risk associated with floating rate debt instruments (as defined in Note 8 - Debt ). The Company does not use any other derivative financial instruments for trading or speculative purposes. On August 20, 2019, HF Foods entered into two IRS contracts with East West Bank (the "EWB IRS") for initial notional amounts of $1.1 million and $2.6 million, respectively. On April 20, 2023, the Company amended the corresponding mortgage term loans, which pegged the two mortgage term loans to 1-month Term SOFR (Secured Overnight Financing Rate) + 2.29% per annum for the remaining duration of the term loans. The amended EWB IRS contracts fixed the two term loans at 4.23% per annum until maturity in September 2029. On December 19, 2019, HF Foods entered into an IRS contract with Bank of America (the "BOA IRS") for an initial notional amount of $2.7 million in conjunction with a newly contracted mortgage term loan of corresponding amount. On December 19, 2021, the Company entered into the Second Amendment to Loan Agreement, which pegged the mortgage term loan to Term SOFR + 2.5% . The BOA IRS was modified accordingly to fix the SOFR based loan to approximately 4.50%. The term loan and corresponding BOA IRS contract mature in December 2029. On March 15, 2023, the Company entered into an amortizing IRS contract with JPMorgan Chase for an initial notional amount of $120.0 million, effective from March 1, 2023 and expiring in March 2028, as a means to partially hedge its existing floating rate loans exposure. Pursuant to the agreement, the Company will pay the swap counterparty a fixed rate of 4.11% in exchange for floating payments based on Term SOFR. The Company evaluated the aforementioned IRS contracts currently in place and did not designate those as cash flow hedges. Hence, the fair value change on these IRS contracts are accounted for and recognized as a change in fair value of IRS contracts in the condensed consolidated statements of operations and comprehensive income (loss). As of March 31, 2024, the Company determined that the fair values of the IRS contracts were $0.8 million in an asset position. As of December 31, 2023, the fair values of the IRS contracts were $0.4 million in an asset position and $1.6 million in a liability position. The Company includes these in other long-term assets other long-term liabilities

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Note 8 - Debt Long-term debt at March 31, 2024 and December 31, 2023 is summarized as follows: ($ in thousands) Bank Name Maturity Interest Rate at March 31, 2024 March 31, 2024 December 31, 2023 Bank of America (a) October 2026 - December 2029 4.34% - 7.95% $ 2,314 $ 2,362 East West Bank (b) August 2027 - September 2029 7.64% - 9.00% 5,636 5,675 JPMorgan Chase (c) January 2030 7.32% - 7.44% 105,039 106,337 Other finance institutions (d) July 2024 5.99% - 6.17% 17 45 Total debt, principal amount 113,006 114,419 Less: debt issuance costs (248) (258) Total debt, carrying value 112,758 114,161 Less: current portion (5,427) (5,450) Long-term debt $ 107,331 $ 108,711 _______________ (a) Loan balance consists of real estate term loan and equipment term loan, collateralized by one real property and specific equipment. The real estate term loan is pegged to TERM SOFR + 2.5%. (b) Real estate term loans with East West Bank are collateralized by three real properties. Balloon payments of $1.8 million and $2.9 million are due at maturity in 2027 and 2029, respectively. (c) Real estate term loan with a principal balance of $105.0 million as of March 31, 2024 and $106.3 million as of December 31, 2023 is secured by assets held by the Company and has a maturity date of January 2030. (d) Secured by vehicles. The terms of the various loan agreements related to long-term bank borrowings require the Company to comply with certain financial covenants, including, but not limited to, a fixed charge coverage ratio and effective tangible net worth. As of March 31, 2024, the Company was in compliance with its covenants. On February 6, 2024, the Company amended the JPM Credit Agreement to (i) remove a cap on permitted indebtedness in respect of capital lease obligations, subject to certain enumerated conditions; (ii) create a reserve on the borrowing base, which will be reduced on a dollar-for-dollar basis once the Company has made expenditures in excess of such amount relating to the development and construction of certain real property, and which amounts shall be excluded from certain financial covenants under the JPM Credit Agreement and; (iii) remove certain sublease income from various financial covenants.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 9 - Earnings (Loss) Per Share The Company computes earnings per share (“EPS”) in accordance with ASC Topic 260 (“ASC 260”), Earnings per Share

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 10 - Income Taxes The determination of the Company’s overall effective income tax rate requires the use of estimates. The effective income tax rate reflects the income earned and taxed in U.S. federal and various state jurisdictions based on enacted tax law, permanent differences between book and tax items, tax credits and the Company’s change in relative income in each jurisdiction. Changes in tax laws and rates may affect recorded deferred tax assets and liabilities and the Company’s effective income tax rate in the future. As of March 31, 2024, the Company had no subsidiaries outside the U.S., as such, no foreign income tax was recorded. For the three months ended March 31, 2024 and 2023, the Company's effective income tax rate of 24.5% and 27.7%, respectively, differed from the federal statutory tax rate primarily as a result of permanent differences and state income taxes.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 11 - Related Party Transactions The Company makes regular purchases from and sales to various related parties. Related party affiliations were attributed to transactions conducted between the Company and those business entities partially or wholly owned by the Company, the Company's officers and/or shareholders who owned no less than 10% shareholdings of the Company. Mr. Xiao Mou Zhang (“Mr. Zhang”), the Chief Executive Officer of the Company, and certain of his immediate family members (collectively greater than 10% shareholders) have ownership interests in various related parties involved in (i) the distribution of food and related products to restaurants and other retailers and (ii) the supply of fresh food, frozen food, and packaging supplies to distributors. Mr. Zhang does not have any involvement in negotiations with any of the above-mentioned related parties. The Company believes that Mr. Zhou Min Ni (“Mr. Ni”), the Company’s former Co-Chief Executive Officer, together with various trusts for the benefit of Mr. Ni's four children, are collectively beneficial owners of more than 10% of the outstanding shares of the Company’s common stock, and he and certain of his immediate family members have ownership interests in related parties involved in (i) the distribution of food and related products to restaurants and other retailers and (ii) the supply of fresh food, frozen food, and packaging supplies to distributors. The related party transactions as of March 31, 2024 and December 31, 2023 and for the three months ended March 31, 2024 and 2023 are identified as follows: Related Party Sales, Purchases, and Lease Agreements Purchases Below is a summary of purchases of goods and services from related parties recorded for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In thousands) Nature 2024 2023 (a) Asahi Food, Inc. Trade 27 22 (b) Conexus Food Solutions (formerly known as Best Food Services, LLC) Trade $ 1,150 $ 2,084 (c) Eastern Fresh NJ, LLC Trade — 37 (c) Ocean Pacific Seafood Group, Inc. Trade 80 168 (c) Rainfield Ranches, LP Trade 57 30 Total $ 1,314 $ 2,341 _______________ (a) The Company, through its subsidiary Mountain Food, LLC, owns an equity interest in this entity. (b) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children. (c) Mr. Zhou Min Ni owns an equity interest in this entity. Sales Below is a summary of sales to related parties recorded for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In thousands) 2024 2023 (a) ABC Food Trading, LLC $ 403 $ 593 (b) Asahi Food, Inc. 139 195 (a) Conexus Food Solutions (formerly known as Best Food Services, LLC) 253 433 (c) Eagle Food Service, LLC — 1,020 (d) First Choice Seafood, Inc. 7 8 (d) Fortune One Foods, Inc. 16 19 (e) N&F Logistics, Inc. — 6 (f) Union Food LLC — 19 Total $ 818 $ 2,293 _______________ (a) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children. (b) The Company, through its subsidiary Mountain Food, LLC, owns an equity interest in this entity. (c) Tina Ni, one of Mr. Zhou Min Ni’s family members, owns an equity interest in this entity indirectly through its parent company. (d) Mr. Zhou Min Ni owns an equity interest in this entity indirectly through its parent company. (e) Mr. Zhou Min Ni owns an equity interest in this entity. (f) Tina Ni, one of Mr. Zhou Min Ni’s family members, owns an equity interest in this entity. Lease Agreements The Company leases various facilities to related parties. In 2020, the Company renewed a warehouse lease from Yoan Chang Trading Inc. under an operating lease agreement which expired on December 31, 2020. In February 2021, the Company executed a new five-year operating lease agreement with Yoan Chang Trading Inc., effective January 1, 2021 and expiring on December 31, 2025. Rent expense was $0.1 million for the three months ended March 31, 2024 and 2023, which is included in distribution, selling and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. Beginning 2014, the Company leased a warehouse to Asahi Food, Inc. under a commercial lease agreement which was rescinded March 1, 2020. A new commercial lease agreement for a period of one year was entered into, expiring February 28, 2021, with a total of four renewal periods with each term being one year. Rental income was $36 thousand for the three months ended March 31, 2024 and 2023, which is included in other income in the condensed consolidated statements of operations and comprehensive loss. Related Party Balances Accounts Receivable - Related Parties, Net Below is a summary of accounts receivable with related parties recorded as of March 31, 2024 and December 31, 2023, respectively: (In thousands) March 31, 2024 December 31, 2023 (a) ABC Food Trading, LLC $ 125 $ 94 (b) Asahi Food, Inc. 111 69 (a) Conexus Food Solutions (formerly known as Best Food Services, LLC) — 84 (c) Enson Seafood GA, Inc. (formerly known as GA-GW Seafood, Inc.) 59 59 (d) Union Food LLC — 2 Total $ 295 $ 308 _______________ (a) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children. (b) The Company, through its subsidiary Mountain Food, LLC, owns an equity interest in this entity. (c) Mr. Zhou Min Ni owns an equity interest in this entity. (d) Tina Ni, one of Mr. Zhou Min Ni’s family members, owns an equity interest in this entity. The Company had reserved for 100% of the accounts receivable for Union Food LLC as of December 31, 2023 and wrote-off the receivable during the three months ended March 31, 2024. The Company has reserved for 100% of the accounts receivable for Enson Seafood GA, Inc. as of March 31, 2024 and December 31, 2023. All other accounts receivable from these related parties are current and considered fully collectible. No additional allowance is deemed necessary as of March 31, 2024 and December 31, 2023. Accounts Payable - Related Parties All the accounts payable to related parties are payable upon demand without interest. Below is a summary of accounts payable with related parties recorded as of March 31, 2024 and December 31, 2023, respectively: (In thousands) March 31, 2024 December 31, 2023 (a) Conexus Food Solutions (formerly as Best Food Services, LLC) $ 126 $ 379 Others 17 18 Total $ 143 $ 397 _______________ (a) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 12 - Stock-Based Compensation In 2021, the Company began issuing awards under the HF Foods Group Inc. 2018 Omnibus Equity Incentive Plan (the “2018 Incentive Plan”), which reserves up to 3,000,000 shares of the Company's common stock for issuance of awards to employees, non-employee directors and consultants. As of March 31, 2024, the Company had 808,807 time-based vesting restricted stock units unvested, 627,803 performance-based restricted stock units unvested, 531,222 shares of common stock vested and 1,032,168 shares remaining available for future awards under the 2018 Incentive Plan. Stock-based compensation expense was $0.7 million and $1.1 million for the three months ended March 31, 2024 and 2023, respectively. Stock-based compensation expense was included in distribution, selling and administrative expenses in the Company's unaudited condensed consolidated statements of income and comprehensive loss. As of March 31, 2024, there was $3.5 million of total unrecognized compensation cost related to all non-vested outstanding RSUs and PSUs outstanding under the 2018 Incentive Plan, with a weighted average remaining service period of 1.65 years.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13 - Commitments and Contingencies From time to time, the Company is a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. When the Company becomes aware of a claim or potential claim, it assesses the likelihood of any loss or exposure. In accordance with authoritative guidance, the Company records loss contingencies in its financial statements only for matters in which losses are probable and can be reasonably estimated. Where a range of loss can be reasonably estimated with no best estimate in the range, the Company records the minimum estimated liability. If the loss is not probable or the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the specific claim if the likelihood of a potential loss is reasonably possible and the amount involved is material. The Company continuously assesses the potential liability related to its pending litigation and revises its estimates when additional information becomes available. Adverse outcomes in some or all of these matters may result in significant monetary damages or injunctive relief against the Company that could adversely affect its ability to conduct business. There also exists the possibility of a material adverse effect on the Company’s financial statements for the period in which the effect of an unfavorable outcome becomes probable and reasonably estimable. Legal costs associated with loss contingencies are expensed as incurred. On October 13, 2023, the Company received a “Wells Notice” from the staff of the SEC (the “Wells Notice”) relating to the previously disclosed formal, non-public SEC investigation of allegations that the Company and certain of its current and former directors and officers violated the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by making allegedly false and misleading statements. A Wells Notice is neither a formal charge of wrongdoing nor a final determination that the recipient has violated any law and invites recipients to submit a response if they wish. The Company made a submission in response to the Wells Notice explaining why an enforcement action would not be appropriate. Following that submission, the staff of the SEC determined that it would no longer be recommending that the SEC file an enforcement action against the Company at this time pending a potential agreed-upon resolution between the Company and the SEC. The Company is in negotiations with the SEC over a potential resolution, which could include fines and penalties, but the terms of that settlement are not final. The Company has made no formal offer of settlement to the SEC as of this filing, and therefore, a reasonable estimate of the contingency cannot be made. AnHeart Lease Guarantee The Company provided a guarantee for two separate leases for two properties located in Manhattan, New York, at 273 Fifth Avenue and 275 Fifth Avenue, for 30 years and 15 years, respectively. The Company has determined that AnHeart is a VIE as a result of the guarantee. However, the Company concluded it is not the primary beneficiary of AnHeart and therefore does not consolidate, because it does not have the power to direct the activities of AnHeart that most significantly impact AnHeart's economic performance. On February 10, 2021, the Company entered into an Assignment and Assumption of Lease Agreement (“Assignment”), dated effective as of January 21, 2021, with AnHeart and Premier 273 Fifth, LLC, pursuant to which it assumed the lease of the premises at 273 Fifth Avenue (the “273 Lease Agreement”). At the same time, the closing documents were delivered to effectuate the amendment of the 273 Lease Agreement pursuant to an Amendment to Lease (the “Lease Amendment”). The Assignment and the Lease Amendment were negotiated in light of the Company’s guarantee obligations as guarantor under the Lease Agreement. The Company agreed to observe all the covenants and conditions of the Lease Agreement, as amended, including the payment of all rents due. Under the terms of the Lease Agreement and the Assignment, the Company has undertaken to construct, at its own expense, a building on the premises at a minimum cost of $2.5 million. The Lease Amendment permits subletting of the premises, and the Company intends to sublease the newly constructed premises to defray the rental expense undertaken pursuant to its guaranty obligations. In March 2024, the Company began construction of a multi-use facility on 273 Fifth Avenue and committed $7.0 million for the completion of the construction project. The Company incurred $1.3 million in construction costs which was recorded in construction in progress within property and equipment, net in the Company’s condensed consolidated balance sheet as of March 31, 2024. The Company expects to complete construction in the first quarter of 2025. On January 17, 2022, the Company received notice that AnHeart had defaulted on its obligations as tenant under the lease for 275 Fifth Avenue. On February 7, 2022, the Company undertook its guaranty obligations by assuming responsibility for payment of monthly rent and other tenant obligations, including past due rent as well as property tax obligations beginning with the January 2022 rent due. On February 25, 2022, the Company instituted a legal action to pursue legal remedies against AnHeart and Minsheng. In March 2022, the Company agreed to stay that litigation against AnHeart in exchange for AnHeart’s payment of certain back rent from January to April 2022 and its continued partial payment of monthly rent. AnHeart subsequently defaulted on these obligations. On October 25, 2023, the Company commenced a new legal action by filing a complaint in New York County Supreme Court to pursue legal remedies against AnHeart and Minsheng. As of the filing of the new summons and complaint, AnHeart and Minsheng are indebted to the Company in the amount of $474,000. In accordance with ASC Topic 460, Guarantees , the Company has determined that its maximum exposure resulting from the 275 Fifth Avenue lease guarantee includes future minimum lease payments plus potential additional payments to satisfy maintenance, property tax and insurance requirements under the leases with a remaining term of approximately 10 years. The Company elected a policy to apply the discounted cash flow method to loss contingencies with more than 18 months of payments. AnHeart is obligated to pay all costs associated with the properties, including taxes, insurance, utilities, maintenance and repairs. During the year ended December 31, 2022, the Company recorded a lease guarantee liability of $5.9 million. The Company determined the discounted value of the lease guarantee liability using a discount rate of 4.55%. As of March 31, 2024, the Company had a lease guarantee liability of $5.4 million. The current portion of the lease guarantee liability of $0.4 million is recorded in accrued expenses and other liabilities, while the long-term portion is recorded in other long-term liabilities on the consolidated balance sheet. The Company's monthly rental payments range from approximately $42,000 per month to $63,000 per month, with the final payment due in 2034. See Note 14 - Subsequent Events for additional information regarding the 275 Fifth Avenue lease. The estimated future minimum lease payments as of March 31, 2024 are presented below: (In thousands) Amount Year Ending December 31, 2024 (remaining nine months) $ 442 2025 604 2026 621 2027 638 2028 656 Thereafter 3,822 Total 6,783 Less: imputed interest (1,390) Total minimum lease payments $ 5,393

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 14 - Subsequent Events Shareholder Rights Plan Amendment On April 11, 2024, the Company entered into Amendment No. 1 to the Preferred Stock Rights Agreement (the “Rights Agreement”), dated as of April 11, 2023, between the Company and Equiniti Trust Company, LLC (f/k/a American Stock Transfer & Trust Company, LLC), as rights agent, to extend the expiration date of the rights under the Rights Agreement from April 11, 2024 to April 11, 2025. Assumption of Lease Effective April 30, 2024, the Company through its subsidiary assumed the lease of a building located on the premises of 275 Fifth Avenue, New York, New York. The Company was the guarantor of this lease under a lease guarantee agreement dated July 2018, and in February 2022, upon receiving notice of default, the Company undertook its lease guarantee obligations. The assumption of the lease had no impact on the Company’s obligations as guarantor. See Note 13 - Commitments and Contingencies for disclosures pertaining to the lease guarantee obligation. The lease covers certain portions of the ground floor, lower lever, and second floor of the building. The lease term ends on April 30, 2034 and is renewable at the option of the Company for up to two additional five-year terms. The Company shall pay rent of approximately $45,000 per month with provisions for yearly increases.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (694)	$ (5,933)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto that are included in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 26, 2024 (our “2023 Annual Report”). There have been no material changes to our significant accounting policies as compared to the significant accounting policies described in our 2023 Annual Report. All significant intercompany balances and transactions have been eliminated in consolidation. For consolidated entities where we own or are exposed to less than 100% of the economics, the Company records net income (loss) attributable to noncontrolling interest in its condensed consolidated statements of operations and comprehensive loss equal to the percentage of the economic or ownership interest retained in such entity by the respective noncontrolling party.
Noncontrolling Interests	Noncontrolling Interests GAAP requires that noncontrolling interests in subsidiaries and affiliates be reported in the equity section of the Company’s condensed consolidated balance sheets. In addition, the amounts attributable to the net income (loss) of those noncontrolling interests are reported separately in the condensed consolidated statements of operations and comprehensive loss.
Use of Estimates	Uses of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during each reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s condensed consolidated financial statements include, but are not limited to, inventory reserves, impairment of long-lived assets, impairment of goodwill, and the purchase price allocation and fair value of assets and liabilities acquired with respect to business combinations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires enhanced disclosures about segment expenses on an annual and interim basis. This standard is effective for the Company’s consolidated financial statements for the year ending December 31, 2024 and for interim periods beginning in 2025. The impact of the adoption of this ASU is not expected to have a material effect on the Company’s financial position, or operations, however, the Company is currently evaluating the impact of this standard on its disclosures to the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (“Topic 740”): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires public entities to disclose specific categories in its annual effective tax rate reconciliation and disaggregated information about significant reconciling items by jurisdiction and by nature. ASU 2023-09 also requires entities to disclose their income tax payments (net of refunds) to international, federal, and state and local jurisdictions. This guidance is effective for fiscal years beginning after December 15, 2024, and requires prospective application with the option to apply it retrospectively. Early adoption is permitted. The Company is currently evaluating the impact of this guidance on the consolidated financial statements and disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of Noncontrolling Interest	As of March 31, 2024 and December 31, 2023, noncontrolling interest equity consisted of the following: ($ in thousands) Ownership of noncontrolling interest at March 31, 2024 March 31, 2024 December 31, 2023 HF Foods Industrial, LLC ("HFFI") 45.00% $ (765) $ (759) Min Food, Inc. 39.75% 1,853 1,715 Monterey Food Service, LLC 35.00% 369 366 Total $ 1,457 $ 1,322

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents the Company's net revenue disaggregated by principal product categories: Three Months Ended March 31, ($ in thousands) 2024 2023 Seafood $ 94,395 32 % $ 92,890 32 % Asian Specialty 80,209 27 % 77,824 25 % Meat and Poultry 57,750 19 % 52,049 18 % Fresh Produce 32,083 11 % 32,211 11 % Packaging and Other 16,374 6 % 19,396 7 % Commodity 14,843 5 % 19,485 7 % Total $ 295,654 100 % $ 293,855 100 %

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Accounts receivable, net consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Accounts receivable $ 51,782 $ 49,643 Less: allowance for expected credit losses (2,077) (2,119) Accounts receivable, net $ 49,705 $ 47,524
Schedule of Financing Receivable, Allowance for Credit Loss	Movement of allowance for expected credit losses was as follows: Three Months Ended March 31, (In thousands) 2024 2023 Beginning balance $ 2,119 $ 1,442 Increase (decrease) in provision for expected credit losses/doubtful accounts (40) 57 Bad debt write-offs (2) (24) Ending balance $ 2,077 $ 1,475
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Prepaid expenses $ 4,108 $ 4,591 Advances to suppliers 4,002 3,340 Other current assets 1,253 2,214 Prepaid expenses and other current assets $ 9,363 $ 10,145
Schedule of Property and Equipment	Property and equipment, net consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Automobiles $ 41,534 $ 37,256 Buildings 63,045 63,045 Building improvements 22,076 22,014 Furniture and fixtures 419 474 Land 49,929 49,929 Machinery and equipment 11,639 11,532 Construction in progress 3,590 1,391 Subtotal 192,232 185,641 Less: accumulated depreciation (54,243) (52,505) Property and equipment, net $ 137,989 $ 133,136
Schedule of Long-Term Investments	Long-term investments consisted of the following: (In thousands) Ownership as of March 31, March 31, 2024 December 31, 2023 Asahi Food, Inc. ("Asahi") 49% $ 589 $ 588 Pt. Tamron Akuatik Produk Industri ("Tamron") 12% 1,800 1,800 Total long-term investments $ 2,389 $ 2,388
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following: (In thousands) March 31, 2024 December 31, 2023 Accrued compensation $ 6,649 $ 7,941 Accrued professional fees 1,399 1,353 Accrued interest and fees 1,181 1,276 Self-insurance liability 1,697 1,723 Other 6,528 4,994 Total accrued expenses and other liabilities $ 17,454 $ 17,287

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements, Assets and Liabilities	The following table presents the Company's hierarchy for its assets and liabilities measured at fair value on a recurring basis as of the dates indicated: March 31, 2024 December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) Assets: Interest rate swaps $ — $ 781 $ — $ 781 $ — $ 412 $ — $ 412 Liabilities: Interest rate swaps $ — $ — $ — $ — $ — $ (1,601) $ — $ (1,601)
Schedule of Debt Securities, Carrying Value and Fair Value	The following table presents the carrying value and estimated fair value of the Company’s outstanding debt as described in Note 8 - Debt , including the current portion, as of the dates indicated: Fair Value Measurements (In thousands) Level 1 Level 2 Level 3 Carrying Value March 31, 2024 Fixed rate debt: Bank of America $ — $ — $ 139 $ 155 Other finance institutions — — 16 17 Variable rate debt: JPMorgan Chase $ — $ 104,791 $ — $ 104,791 Bank of America — 2,159 — 2,159 East West Bank — 5,636 — 5,636 December 31, 2023 Fixed rate debt: Bank of America $ — $ — $ 151 $ 169 Other finance institutions — — 43 45 Variable rate debt: JPMorgan Chase $ — $ 106,079 $ — $ 106,079 Bank of America — 2,193 — 2,193 East West Bank — 5,675 — 5,675 The carrying value of the variable rate debt approximates its fair value because of the variability of interest rates associated with these instruments. For the Company's fixed rate debt, the fair values were estimated using discounted cash flow analyses, based on the current incremental borrowing rates for similar types of borrowing arrangements. See Note 8 - Debt for additional information regarding the Company's debt. Nonrecurring Fair Values The Company measures fair value of certain assets on a nonrecurring basis when events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. No adjustments to fair value from the write-down of asset values due to impairment were made during the three months ended March 31, 2024 and 2023. There were no assets carried at nonrecurring fair value at March 31, 2024 and December 31, 2023.

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The components of the intangible assets are as follows: March 31, 2024 December 31, 2023 (In thousands) Gross Accumulated Net Gross Accumulated Net Non-competition agreement $ 3,892 $ (2,754) $ 1,138 $ 3,892 $ (2,429) $ 1,463 Trademarks and trade names 44,207 (16,149) 28,058 44,207 (15,045) 29,162 Customer relationships 185,266 (40,726) 144,540 185,266 (38,085) 147,181 Total $ 233,365 $ (59,629) $ 173,736 $ 233,365 $ (55,559) $ 177,806

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt at March 31, 2024 and December 31, 2023 is summarized as follows: ($ in thousands) Bank Name Maturity Interest Rate at March 31, 2024 March 31, 2024 December 31, 2023 Bank of America (a) October 2026 - December 2029 4.34% - 7.95% $ 2,314 $ 2,362 East West Bank (b) August 2027 - September 2029 7.64% - 9.00% 5,636 5,675 JPMorgan Chase (c) January 2030 7.32% - 7.44% 105,039 106,337 Other finance institutions (d) July 2024 5.99% - 6.17% 17 45 Total debt, principal amount 113,006 114,419 Less: debt issuance costs (248) (258) Total debt, carrying value 112,758 114,161 Less: current portion (5,427) (5,450) Long-term debt $ 107,331 $ 108,711 _______________ (a) Loan balance consists of real estate term loan and equipment term loan, collateralized by one real property and specific equipment. The real estate term loan is pegged to TERM SOFR + 2.5%. (b) Real estate term loans with East West Bank are collateralized by three real properties. Balloon payments of $1.8 million and $2.9 million are due at maturity in 2027 and 2029, respectively. (c) Real estate term loan with a principal balance of $105.0 million as of March 31, 2024 and $106.3 million as of December 31, 2023 is secured by assets held by the Company and has a maturity date of January 2030. (d) Secured by vehicles.

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following table sets forth the computation of basic and diluted EPS: Three Months Ended March 31, ($ in thousands, except share and per share data) 2024 2023 Numerator: Net loss attributable to HF Foods Group Inc. $ (694) $ (5,933) Denominator: Weighted-average common shares outstanding 52,155,968 53,822,794 Effect of dilutive securities — — Weighted-average dilutive shares outstanding 52,155,968 53,822,794 Loss per common share: Basic $ (0.01) $ (0.11) Diluted $ (0.01) $ (0.11)

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Purchases With Related Parties	Below is a summary of purchases of goods and services from related parties recorded for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In thousands) Nature 2024 2023 (a) Asahi Food, Inc. Trade 27 22 (b) Conexus Food Solutions (formerly known as Best Food Services, LLC) Trade $ 1,150 $ 2,084 (c) Eastern Fresh NJ, LLC Trade — 37 (c) Ocean Pacific Seafood Group, Inc. Trade 80 168 (c) Rainfield Ranches, LP Trade 57 30 Total $ 1,314 $ 2,341 _______________ (a) The Company, through its subsidiary Mountain Food, LLC, owns an equity interest in this entity. (b) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children. (c) Mr. Zhou Min Ni owns an equity interest in this entity.
Schedule of Revenue With Related Parties	Below is a summary of sales to related parties recorded for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (In thousands) 2024 2023 (a) ABC Food Trading, LLC $ 403 $ 593 (b) Asahi Food, Inc. 139 195 (a) Conexus Food Solutions (formerly known as Best Food Services, LLC) 253 433 (c) Eagle Food Service, LLC — 1,020 (d) First Choice Seafood, Inc. 7 8 (d) Fortune One Foods, Inc. 16 19 (e) N&F Logistics, Inc. — 6 (f) Union Food LLC — 19 Total $ 818 $ 2,293 _______________ (a) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children. (b) The Company, through its subsidiary Mountain Food, LLC, owns an equity interest in this entity. (c) Tina Ni, one of Mr. Zhou Min Ni’s family members, owns an equity interest in this entity indirectly through its parent company. (d) Mr. Zhou Min Ni owns an equity interest in this entity indirectly through its parent company. (e) Mr. Zhou Min Ni owns an equity interest in this entity. (f) Tina Ni, one of Mr. Zhou Min Ni’s family members, owns an equity interest in this entity.
Schedule of Accounts Receivable With Related Parties	Below is a summary of accounts receivable with related parties recorded as of March 31, 2024 and December 31, 2023, respectively: (In thousands) March 31, 2024 December 31, 2023 (a) ABC Food Trading, LLC $ 125 $ 94 (b) Asahi Food, Inc. 111 69 (a) Conexus Food Solutions (formerly known as Best Food Services, LLC) — 84 (c) Enson Seafood GA, Inc. (formerly known as GA-GW Seafood, Inc.) 59 59 (d) Union Food LLC — 2 Total $ 295 $ 308 _______________ (a) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children. (b) The Company, through its subsidiary Mountain Food, LLC, owns an equity interest in this entity. (c) Mr. Zhou Min Ni owns an equity interest in this entity. (d)
Schedule of Accounts Payable With Related Parties	All the accounts payable to related parties are payable upon demand without interest. Below is a summary of accounts payable with related parties recorded as of March 31, 2024 and December 31, 2023, respectively: (In thousands) March 31, 2024 December 31, 2023 (a) Conexus Food Solutions (formerly as Best Food Services, LLC) $ 126 $ 379 Others 17 18 Total $ 143 $ 397 _______________ (a) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children.

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating Lease Maturities	The estimated future minimum lease payments as of March 31, 2024 are presented below: (In thousands) Amount Year Ending December 31, 2024 (remaining nine months) $ 442 2025 604 2026 621 2027 638 2028 656 Thereafter 3,822 Total 6,783 Less: imputed interest (1,390) Total minimum lease payments $ 5,393

Organization and Description _2

Organization and Description of Business (Details)	3 Months Ended
	Mar. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1
Number of reportable segments	1

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Noncontrolling Interests (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Noncontrolling interests	$ 1,457	$ 1,322
HF Foods Industrial, LLC ("HFFI")
Noncontrolling Interest [Line Items]
Ownership of noncontrolling interest at March 31, 2024	45%
Noncontrolling interests	$ (765)	(759)
Min Food, Inc.
Noncontrolling Interest [Line Items]
Ownership of noncontrolling interest at March 31, 2024	39.75%
Noncontrolling interests	$ 1,853	1,715
Monterey Food Service, LLC
Noncontrolling Interest [Line Items]
Ownership of noncontrolling interest at March 31, 2024	35%
Noncontrolling interests	$ 369	$ 366

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
TOTAL NET REVENUE	$ 295,654	$ 293,855
Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Operating concentration risk (percentage)	100%	100%
Seafood
Disaggregation of Revenue [Line Items]
TOTAL NET REVENUE	$ 94,395	$ 92,890
Seafood | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Operating concentration risk (percentage)	32%	32%
Asian Specialty
Disaggregation of Revenue [Line Items]
TOTAL NET REVENUE	$ 80,209	$ 77,824
Asian Specialty | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Operating concentration risk (percentage)	27%	25%
Meat and Poultry
Disaggregation of Revenue [Line Items]
TOTAL NET REVENUE	$ 57,750	$ 52,049
Meat and Poultry | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Operating concentration risk (percentage)	19%	18%
Fresh Produce
Disaggregation of Revenue [Line Items]
TOTAL NET REVENUE	$ 32,083	$ 32,211
Fresh Produce | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Operating concentration risk (percentage)	11%	11%
Packaging and Other
Disaggregation of Revenue [Line Items]
TOTAL NET REVENUE	$ 16,374	$ 19,396
Packaging and Other | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Operating concentration risk (percentage)	6%	7%
Commodity
Disaggregation of Revenue [Line Items]
TOTAL NET REVENUE	$ 14,843	$ 19,485
Commodity | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Operating concentration risk (percentage)	5%	7%

Balance Sheet Components - Acco

Balance Sheet Components - Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: allowance for expected credit losses	$ (2,077)	$ (2,119)	$ (1,475)	$ (1,442)
Nonrelated Party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	51,782	49,643
Less: allowance for expected credit losses	(2,077)	(2,119)
Accounts receivable, net	$ 49,705	$ 47,524

Balance Sheet Components - Allo

Balance Sheet Components - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,119	$ 1,442
Increase (decrease) in provision for expected credit losses/doubtful accounts	(40)	57
Bad debt write-offs	(2)	(24)
Ending balance	$ 2,077	$ 1,475

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 4,108	$ 4,591
Advances to suppliers	4,002	3,340
Other current assets	1,253	2,214
Prepaid expenses and other current assets	$ 9,363	$ 10,145

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 192,232	$ 185,641
Less: accumulated depreciation	(54,243)	(52,505)
Property and equipment, net	137,989	133,136
Depreciation	2,600
Automobiles
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	41,534	37,256
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	63,045	63,045
Building improvements
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	22,076	22,014
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	419	474
Land
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	49,929	49,929
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	11,639	11,532
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 3,590	$ 1,391

Balance Sheet Components - Narr

Balance Sheet Components - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation	$ 2,600,000
Other than temporary impairment	$ 0	$ 0

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Long-Term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Long-term investments	$ 2,389	$ 2,388
Asahi Food, Inc. ("Asahi")
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49%
Long-term investments	$ 589	588
Pt. Tamron Akuatik Produk Industri ("Tamron")
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	12%
Long-term investments	$ 1,800	$ 1,800

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation	$ 6,649	$ 7,941
Accrued professional fees	1,399	1,353
Accrued interest and fees	1,181	1,276
Self-insurance liability	1,697	1,723
Other	6,528	4,994
Total accrued expenses and other liabilities	$ 17,454	$ 17,287

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurements, Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Assets
DerivativeAssetsStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag	Interest rate swaps	Interest rate swaps
Liabilities
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag	Interest rate swaps	Interest rate swaps
Recurring
Assets
Assets:	$ 781		$ 412
Liabilities
Liabilities:	0		(1,601)
Recurring | Level 1
Assets
Assets:	0		0
Liabilities
Liabilities:	0		0
Recurring | Level 2
Assets
Assets:	781		412
Liabilities
Liabilities:	0		(1,601)
Recurring | Level 3
Assets
Assets:	0		0
Liabilities
Liabilities:	$ 0		$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Debt Securities, Carrying Value and Fair Value (Details) - Reported Value Measurement - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Bank of America | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	$ 155	$ 169
Bank of America | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	2,159	2,193
Bank of America | Level 1 | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
Bank of America | Level 1 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
Bank of America | Level 2 | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
Bank of America | Level 2 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	2,159	2,193
Bank of America | Level 3 | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	139	151
Bank of America | Level 3 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
East West Bank | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	5,636	5,675
East West Bank | Level 1 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
East West Bank | Level 2 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	5,636	5,675
East West Bank | Level 3 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
Other Finance Institutions | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	17	45
Other Finance Institutions | Level 1 | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
Other Finance Institutions | Level 2 | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
Other Finance Institutions | Level 3 | Fixed Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	16	43
JP Morgan | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	104,791	106,079
JP Morgan | Level 1 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	0	0
JP Morgan | Level 2 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	104,791	106,079
JP Morgan | Level 3 | Variable Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	$ 0	$ 0

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 85,118		$ 85,118
Amortization expense	$ 4,100	$ 4,100

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 233,365	$ 233,365
Accumulated Amortization	(59,629)	(55,559)
Net Carrying Amount	173,736	177,806
Non-competition agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,892	3,892
Accumulated Amortization	(2,754)	(2,429)
Net Carrying Amount	1,138	1,463
Tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	44,207	44,207
Accumulated Amortization	(16,149)	(15,045)
Net Carrying Amount	28,058	29,162
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	185,266	185,266
Accumulated Amortization	(40,726)	(38,085)
Net Carrying Amount	$ 144,540	$ 147,181

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) $ in Millions			3 Months Ended
	Dec. 19, 2021	Aug. 20, 2019 USD ($) termLoan derivative	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 15, 2023 USD ($)	Dec. 19, 2019 USD ($)
Derivative [Line Items]
Number of mortgage term loans | termLoan		2
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]			Other long-term assets
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]			Other long-term liabilities
Derivative Asset, Noncurrent			$ 0.8	$ 0.4
Derivative Liability, Noncurrent				$ 1.6
Mortgage-Secured Term Loans | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivative [Line Items]
Derivative, fixed interest rate					4.11%
Mortgage-Secured Term Loans | East West Bank | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivative [Line Items]
Basis spread on variable rate		2.29%
Derivative, fixed interest rate		4.23%
Mortgage-Secured Term Loans | Bank of America | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivative [Line Items]
Basis spread on variable rate	2.50%		2.50%
Derivative, fixed interest rate						4.50%
Interest Rate Swap
Derivative [Line Items]
Number of derivatives | derivative		2
Interest Rate Swap | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, notional amount		$ 1.1			$ 120	$ 2.7
Interest Rate Swap Two | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, notional amount		$ 2.6

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) $ in Thousands			3 Months Ended
	Dec. 19, 2021	Aug. 20, 2019	Mar. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Total debt, principal amount			$ 113,006	$ 114,419
Less: debt issuance costs			(248)	(258)
Total			112,758	114,161
Less: current portion			(5,427)	(5,450)
Long-term debt			107,331	108,711
Bank of America
Debt Instrument [Line Items]
Total debt, principal amount			$ 2,314	2,362
Number of real properties secured | property			1
Bank of America | Mortgage-Secured Term Loans | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.50%		2.50%
Bank of America | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage			4.34%
Bank of America | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage			7.95%
East West Bank
Debt Instrument [Line Items]
Total debt, principal amount			$ 5,636	5,675
Number of real properties secured | property			3
East West Bank | Mortgage-Secured Term Loans | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		2.29%
East West Bank | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage			7.64%
Collateral amount			$ 1,800
East West Bank | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage			9%
Collateral amount			$ 2,900
JP Morgan Chase
Debt Instrument [Line Items]
Total debt, principal amount			105,039	106,337
JP Morgan Chase | Assets Held by Subsidiaries
Debt Instrument [Line Items]
Collateral amount			$ 105,000	106,300
JP Morgan Chase | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage			7.32%
JP Morgan Chase | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage			7.44%
Other finance institutions
Debt Instrument [Line Items]
Total debt, principal amount			$ 17	$ 45
Other finance institutions | Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage			5.99%
Other finance institutions | Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage			6.17%

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,470,541	851,443

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net loss attributable to HF Foods Group Inc.	$ (694)	$ (5,933)
Denominator:
Weighted-average common shares outstanding (in shares)	52,155,968	53,822,794
Effect of dilutive securities (in shares)	0	0
Weighted-average dilutive shares outstanding (in shares)	52,155,968	53,822,794
Loss per common share:
Basic (in dollars per share)	$ (0.01)	$ (0.11)
Diluted (in dollars per share)	$ (0.01)	$ (0.11)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	24.50%	27.70%

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)	Feb. 28, 2021 renewalPeriod
Kirnland | Buildings
Related Party Transaction [Line Items]
Operating lease, term of contract (in years)		5 years
Rental income	$ 100
Asahi Food, Inc. | Buildings
Related Party Transaction [Line Items]
Rental income	$ 36
Term of contract		1 year
Number of renewal periods | renewalPeriod		4
Length of renewal term option		1 year
Union Food LLC
Related Party Transaction [Line Items]
Accounts receivables reserved percentage	1
Enson Seafood GA, Inc. (formerly known as GA-GW Seafood, Inc.)
Related Party Transaction [Line Items]
Accounts receivables reserved percentage	1
HF Foods | Shareholder
Related Party Transaction [Line Items]
Ownership of noncontrolling interest at March 31, 2024	10%

Related Party Transactions - Su

Related Party Transactions - Summary of Purchases with Related Parties (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Nov. 01, 2020 trust	Oct. 31, 2020 trust
Related Party
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$ 1,314	$ 2,341
Asahi Food, Inc. | Related Party
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	27	22
Conexus Food Solutions (formerly known as Best Food Services, LLC)
Related Party Transaction [Line Items]
Number of irrecoverable trusts | trust			3	3
Conexus Food Solutions (formerly known as Best Food Services, LLC) | Related Party
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	1,150	2,084
Eastern Fresh NJ, LLC | Related Party
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	0	37
Ocean Pacific Seafood Group, Inc. | Related Party
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	80	168
Rainfield Ranches, LP | Related Party
Related Party Transaction [Line Items]
Related Party Transaction, Purchases from Related Party	$ 57	$ 30

Related Party Transactions - _2

Related Party Transactions - Summary of Sales to Related Parties (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Nov. 01, 2020 trust	Oct. 31, 2020 trust
Sales
Related Party Transaction [Line Items]
Sales - related party	$ 818	$ 2,293
ABC Food Trading, LLC | Sales
Related Party Transaction [Line Items]
Sales - related party	403	593
Asahi Food, Inc. | Sales
Related Party Transaction [Line Items]
Sales - related party	139	195
Conexus Food Solutions (formerly known as Best Food Services, LLC)
Related Party Transaction [Line Items]
Number of irrecoverable trusts | trust			3	3
Conexus Food Solutions (formerly known as Best Food Services, LLC) | Sales
Related Party Transaction [Line Items]
Sales - related party	253	433
Eagle Food Services, LLC | Sales
Related Party Transaction [Line Items]
Sales - related party	0	1,020
First Choice Seafood, Inc. | Sales
Related Party Transaction [Line Items]
Sales - related party	7	8
Fortune One Foods, Inc. | Sales
Related Party Transaction [Line Items]
Sales - related party	16	19
N&F Logistics, Inc. | Sales
Related Party Transaction [Line Items]
Sales - related party	0	6
Union Food LLC | Sales
Related Party Transaction [Line Items]
Sales - related party	$ 0	$ 19

Related Party Transactions - _3

Related Party Transactions - Summary of Accounts Receivable With Related Parties (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 01, 2020 trust	Oct. 31, 2020 trust
Related Party
Related Party Transaction [Line Items]
Accounts receivable, net of allowances of $2,077 and $2,119	$ 295	$ 308
ABC Trading, LLC | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net of allowances of $2,077 and $2,119	125	94
Asahi Food, Inc. | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net of allowances of $2,077 and $2,119	111	69
Conexus Food Solutions (formerly known as Best Food Services, LLC)
Related Party Transaction [Line Items]
Number of irrecoverable trusts | trust			3	3
Conexus Food Solutions (formerly known as Best Food Services, LLC) | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net of allowances of $2,077 and $2,119	0	84
Enson Seafood GA, Inc. (formerly known as GA-GW Seafood, Inc.) | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net of allowances of $2,077 and $2,119	59	59
Union Food LLC | Related Party
Related Party Transaction [Line Items]
Accounts receivable, net of allowances of $2,077 and $2,119	$ 0	$ 2

Related Party Transactions - _4

Related Party Transactions - Summary of Accounts Payable with Related Parties (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 01, 2020 trust	Oct. 31, 2020 trust
Related Party
Related Party Transaction [Line Items]
Accounts payable	$ 143	$ 397
Conexus Food Solutions (formerly known as Best Food Services, LLC)
Related Party Transaction [Line Items]
Number of irrecoverable trusts | trust			3	3
Conexus Food Solutions (formerly known as Best Food Services, LLC) | Related Party
Related Party Transaction [Line Items]
Accounts payable	126	379
Other | Related Party
Related Party Transaction [Line Items]
Accounts payable	$ 17	$ 18

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of shares authorized under plan (in shares)	3,000,000
Shares remaining available for future unvested awards (in shares)	531,222
Shares remaining available for future awards (in shares)	1,032,168
Total stock-based compensation expense	$ 0.7	$ 1.1
Unrecognized compensation cost	$ 3.5
Unrecognized compensation cost, period for recognition	1 year 7 months 24 days
RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Equity instruments outstanding (in shares)	808,807
PSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Equity instruments outstanding (in shares)	627,803

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands		1 Months Ended	3 Months Ended
	Feb. 10, 2021 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($) property lease	Mar. 31, 2023 USD ($)	Oct. 25, 2023 USD ($)
Loss Contingencies [Line Items]
Amount committed for construction project		$ 7,000
AnHeart construction		$ 1,300
Property Lease Guarantee
Loss Contingencies [Line Items]
Guarantor lease obligation term (in years)			10 years
Loss contingencies payments term			18 months
Lease guarantee liability activity			$ 5,400	$ 5,900
Lessee guarantee, lease discount rate		4.55%	4.55%
Guarantor lease obligation, maximum exposure		$ 400	$ 400
Minimum
Loss Contingencies [Line Items]
Payment to construct building	$ 2,500
Minimum | Property Lease Guarantee
Loss Contingencies [Line Items]
Operating lease, rent expense			42
Maximum | Property Lease Guarantee
Loss Contingencies [Line Items]
Operating lease, rent expense			$ 63
Buildings
Loss Contingencies [Line Items]
Number of leases | lease			2
Number of properties | property			2
Buildings | Lease for 273 Fifth Avenue, Manhattan,New York
Loss Contingencies [Line Items]
Operating lease, term of contract (in years)		30 years	30 years
Buildings | Lease for 275 Fifth Avenue, Manhattan,New York
Loss Contingencies [Line Items]
Operating lease, term of contract (in years)		15 years	15 years
AnHeart and Minsheng Case | Pending Litigation
Loss Contingencies [Line Items]
Amount receivable					$ 474

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Operating Lease Maturities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024 (remaining nine months)	$ 442
2025	604
2026	621
2027	638
2028	656
Thereafter	3,822
Total	6,783
Less: imputed interest	(1,390)
Total minimum lease payments	$ 5,393