hf foods group announces board changes and director compensation update

HF Foods Group Inc. (NASDAQ:HFFG), a $192 million market cap food distribution company with annual revenue of $1.2 billion, announced several changes to its board of directors and adjustments to director compensation, as detailed in a recent SEC filing. According to InvestingPro data, the company’s stock has gained over 17% year-to-date, despite current profitability challenges. On June 1 and June 2, 2025, Lisa Lim and Charlotte Westfall resigned from the board, effective June 2, 2025. Their resignations were not due to any disagreements with the company. Consequently, they did not stand for re-election at the annual meeting on June 3, 2025. These board changes come at a crucial time as InvestingPro analysis indicates the company is expected to return to profitability this year, with analysts forecasting positive earnings.

On June 4, 2025, the board appointed Dennis Lam to fill one of the vacancies. Lam, a certified public accountant and owner of Lam Advisory, LLC, has over 20 years of experience in audit and advisory services, including a tenure as an audit partner at BDO USA, P.C. He will serve as the Chair of the Audit Committee and as a member of the Compensation and Nominating and Governance Committees. Lam is considered an independent director under company and Nasdaq standards.

Additionally, Maria Ross was appointed as the Lead Independent (LON:IOG) Director, effective June 4, 2025. The board is actively searching for a new independent director to fill the remaining vacancy.

In a related development, the Compensation Committee approved changes to the compensation of independent directors, effective July 1, 2025. The annual cash retainer will increase from $30,000 to $40,000, and the annual equity grant will rise from a fair value of $30,000 to $40,000. These changes were previously disclosed in the company’s proxy statement filed on April 25, 2025.

This information is based on a recent press release filed with the Securities and Exchange Commission. With the company’s next earnings report scheduled for August 6, 2025, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research report, which is part of their coverage of over 1,400 US stocks. The platform’s analysis suggests the stock is currently trading below its Fair Value, presenting a potential opportunity for investors.

In other recent news, HF Foods Group reported its Q1 2025 earnings, revealing a revenue miss against analyst forecasts. The company reported a revenue of $298.4 million, falling short of the forecasted $303.87 million, despite a modest increase of 0.9% year-over-year. Gross profit rose by 1.1% to $51 million, and operating income showed improvement, transitioning from a $0.1 million loss to a $1.2 million gain. However, the net loss increased to $1.5 million from $0.6 million in the previous year. HF Foods has launched a new e-commerce platform aimed at driving future growth and is focusing on strategic investments in digital transformation and infrastructure. The company is also exploring mergers and acquisitions as part of its growth strategy. CEO Felix Lin emphasized the company’s resilience and strategic advantages in the growing demand for authentic Asian cuisine. HF Foods remains optimistic about maintaining momentum from Q1 into the coming months.

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