2020 Q4 Form 10-Q Financial Statement

#000168087320000015 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $146.5M $139.9M $162.9M
YoY Change -10.07% 84.84% 120.73%
Cost Of Revenue $121.0M $114.8M $137.1M
YoY Change -11.74% 80.7% 124.75%
Gross Profit $25.50M $25.16M $25.80M
YoY Change -1.16% 106.39% 101.56%
Gross Profit Margin 17.41% 17.98% 15.84%
Selling, General & Admin $26.60M $25.05M $23.50M
YoY Change 13.19% 151.26% 152.69%
% of Gross Profit 104.31% 99.55% 91.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.390M $1.606M $4.580M
YoY Change -4.15% 119.43% 732.73%
% of Gross Profit 17.22% 6.38% 17.75%
Operating Expenses $26.60M $25.05M $23.50M
YoY Change 13.19% 151.26% 152.69%
Operating Profit -$1.100M $112.4K $2.300M
YoY Change -147.83% -94.94% -34.29%
Interest Expense -$400.0K -$900.0K -$500.0K
YoY Change -20.0% 125.0% 150.0%
% of Operating Profit -800.43% -21.74%
Other Income/Expense, Net $400.0K -$590.3K $200.0K
YoY Change 100.0% 582.02% -33.33%
Pretax Income -$1.100M -$477.8K $2.000M
YoY Change -155.0% -122.37% -42.86%
Income Tax -$2.800M -$80.91K $500.0K
% Of Pretax Income 25.0%
Net Earnings $1.600M -$623.8K $1.500M
YoY Change 6.67% -146.29% -42.31%
Net Earnings / Revenue 1.09% -0.45% 0.92%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share $30.83K -$0.01 $35.80K
COMMON SHARES
Basic Shares Outstanding 51.91M shares 52.15M shares
Diluted Shares Outstanding 52.15M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.600M $9.200M $14.50M
YoY Change -33.79% 35.29% 163.64%
Cash & Equivalents $9.581M $9.180M $14.54M
Short-Term Investments
Other Short-Term Assets $4.614M $4.705M $4.374M
YoY Change 5.48% 282.69% 255.36%
Inventory $58.54M $61.69M $77.53M
Prepaid Expenses
Receivables $24.86M $24.51M $50.03M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $99.05M $101.3M $151.4M
YoY Change -34.59% 81.77% 156.46%
LONG-TERM ASSETS
Property, Plant & Equipment $137.8M $138.1M $37.54M
YoY Change 267.09% 409.69% 65.73%
Goodwill $68.51M $68.51M $406.7M
YoY Change -83.15%
Intangibles $175.8M $178.5M $186.7M
YoY Change -5.83%
Long-Term Investments $2.377M $2.362M $2.296M
YoY Change 3.52%
Other Assets $694.5K $349.7K $372.5K
YoY Change 86.44% 146.32% 53.65%
Total Long-Term Assets $385.2M $388.6M $651.4M
YoY Change -40.87% 1318.6% 2679.87%
TOTAL ASSETS
Total Short-Term Assets $99.05M $101.3M $151.4M
Total Long-Term Assets $385.2M $388.6M $651.4M
Total Assets $484.2M $489.9M $802.8M
YoY Change -39.69% 489.47% 873.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.60M $33.69M $39.69M
YoY Change -27.93% 79.86% 127.13%
Accrued Expenses $6.178M $5.212M $2.611M
YoY Change 136.66% 425.8% 21.5%
Deferred Revenue $6.147K $0.00
YoY Change -100.0%
Short-Term Debt $33.10M $30.80M $56.20M
YoY Change -41.1% 158.82% 585.37%
Long-Term Debt Due $5.641M $7.736M $2.727M
YoY Change 106.87% 368.59% 87.36%
Total Short-Term Liabilities $76.70M $81.98M $110.4M
YoY Change -30.55% 112.43% 228.82%
LONG-TERM LIABILITIES
Long-Term Debt $88.01M $87.37M $18.54M
YoY Change 374.82% 467.0% 41.38%
Other Long-Term Liabilities $600.0K $400.0K $12.80M
YoY Change -95.31%
Total Long-Term Liabilities $88.01M $87.37M $18.54M
YoY Change 374.82% 467.0% 41.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.70M $81.98M $110.4M
Total Long-Term Liabilities $88.01M $87.37M $18.54M
Total Liabilities $219.4M $226.8M $195.2M
YoY Change 12.42% 301.48% 306.51%
SHAREHOLDERS EQUITY
Retained Earnings -$327.2M -$328.7M $15.82M
YoY Change -2167.48% -2370.75% 51.66%
Common Stock $5.191K $5.305K $5.305K
YoY Change -2.15% 137.25% 139.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $12.04M $12.04M
YoY Change -100.0% 13228504.4%
Treasury Stock Shares 905.1K shares 905.1K shares
Shareholders Equity $260.4M $258.8M $603.4M
YoY Change
Total Liabilities & Shareholders Equity $484.2M $489.9M $802.8M
YoY Change -39.69% 489.47% 873.42%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $1.600M -$623.8K $1.500M
YoY Change 6.67% -146.29% -42.31%
Depreciation, Depletion And Amortization $4.390M $1.606M $4.580M
YoY Change -4.15% 119.43% 732.73%
Cash From Operating Activities -$180.0K $11.89M $4.230M
YoY Change -104.26% -829.45% 21.9%
INVESTING ACTIVITIES
Capital Expenditures -$250.0K -$200.0K $540.0K
YoY Change -146.3% -9.09% -160.67%
Acquisitions
YoY Change
Other Investing Activities $90.00K $70.00K $7.030M
YoY Change -98.72% -65.0% -1534.69%
Cash From Investing Activities -$160.0K -$130.0K $7.580M
YoY Change -102.11% 333.33% -653.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 740.0K -11.15M -4.060M
YoY Change -118.23% -838.41% -7.73%
NET CHANGE
Cash From Operating Activities -180.0K 11.89M 4.230M
Cash From Investing Activities -160.0K -130.0K 7.580M
Cash From Financing Activities 740.0K -11.15M -4.060M
Net Change In Cash 400.0K 610.0K 7.750M
YoY Change -94.84% -506.67% -436.96%
FREE CASH FLOW
Cash From Operating Activities -$180.0K $11.89M $4.230M
Capital Expenditures -$250.0K -$200.0K $540.0K
Free Cash Flow $70.00K $12.09M $3.690M
YoY Change -98.1% -957.45% -15.37%

Facts In Submission

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CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.06
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.06
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.61
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.61
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.61
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.18
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.18
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52145096 shares
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52145096 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22258557 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22258557 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52145096 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52145096 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22198290 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22198290 shares
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
607656732 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-339686532 USD
CY2020Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
125000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
267845200 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
-4314190 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
263531010 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
1793571 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
36255053 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
1060714 USD
CY2019Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
90000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
37225767 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-396939 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
263134071 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
34461482 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
1528671 USD
CY2019Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
12038030 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
90000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
26626408 USD
us-gaap Profit Loss
ProfitLoss
-344397661 USD
us-gaap Profit Loss
ProfitLoss
4382956 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13479736 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2173723 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
338191407 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
24681 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
68626 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2024471 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-50090 USD
us-gaap Inventory Write Down
InventoryWriteDown
119737 USD
us-gaap Inventory Write Down
InventoryWriteDown
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3172293 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
147117 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
65612 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-1284276 USD
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-23306471 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1366791 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-3319539 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3512 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-100472 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6097690 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1254651 USD
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
385352 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-15720722 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7650285 USD
hffg Increase Decrease In Advances To Suppliers Related Parties
IncreaseDecreaseInAdvancesToSuppliersRelatedParties
-447287 USD
hffg Increase Decrease In Advances To Suppliers Related Parties
IncreaseDecreaseInAdvancesToSuppliersRelatedParties
-536343 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
294372 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1107448 USD
hffg Increase Decrease In Deposit Assets Related Parties
IncreaseDecreaseInDepositAssetsRelatedParties
-58880 USD
hffg Increase Decrease In Deposit Assets Related Parties
IncreaseDecreaseInDepositAssetsRelatedParties
0 USD
hffg Increase Decrease In Related Party Accounts Payable
IncreaseDecreaseInRelatedPartyAccountsPayable
-1858101 USD
hffg Increase Decrease In Related Party Accounts Payable
IncreaseDecreaseInRelatedPartyAccountsPayable
355930 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
291659 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
0 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
125000 USD
us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
290071 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
13343 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2564201 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-626901 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
44311146 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
442624 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
410288 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5381138 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
160659 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
275699 USD
us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
0 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
0 USD
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
108750 USD
us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
0 USD
us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
386358 USD
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
0 USD
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
260933 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
94004068 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-94253697 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4798693 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
-9403540 USD
us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
411386096 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15364481 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
427544110 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
11694146 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
75600006 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6100878 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5121353 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3605740 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
207520 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
315393 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
180000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
44584579 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5670080 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5357972 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1314011 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14538286 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5489404 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9180314 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6803415 USD
CY2018Q1 hffg Number Of Subsidiaries
NumberOfSubsidiaries
11 entity
CY2018Q1 hffg Number Of Subsidiaries
NumberOfSubsidiaries
11 entity
CY2018Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
22167486 shares
CY2018Q3 hffg Number Of Shares Redeemed By Pre Transaction Shareholders
NumberOfSharesRedeemedByPreTransactionShareholders
400000 shares
CY2018Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
10000 shares
CY2018Q3 hffg Stock Issued During Period Shares Issued To The Pre Transaction Stockholders
StockIssuedDuringPeriodSharesIssuedToThePreTransactionStockholders
2587655 shares
CY2020Q3 hffg Number Of Distribution Centers
NumberOfDistributionCenters
14 distributionCenter
CY2020Q3 hffg Number Of States With Distribution Centers
NumberOfStatesWithDistributionCenters
9 state
CY2020Q3 hffg Number Of Refrigerated Vehicles
NumberOfRefrigeratedVehicles
340 vehicle
CY2020Q3 dei Entity Number Of Employees
EntityNumberOfEmployees
960 numberOfEmployee
CY2020Q3 hffg Number Of Restaurants Served
NumberOfRestaurantsServed
10000 restaurant
CY2020Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
21 state
CY2020Q3 us-gaap Minority Interest
MinorityInterest
4292775 USD
CY2019Q4 us-gaap Minority Interest
MinorityInterest
4248787 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Uses of Estimates</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with U.S. 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 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 unaudited condensed consolidated financial statements include, but are not limited to, allowance for doubtful accounts, useful lives of property and equipment and intangible assets, lease assumptions, impairment of long-lived assets, long-term investments, and goodwill, the purchase price allocation and fair value of noncontrolling interests with respect to business combinations, realization of deferred tax assets, and uncertain income tax positions.</span></div>
CY2020Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 USD
CY2019Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 USD
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1373921 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
623970 USD
CY2020Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
136665 USD
CY2019Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
16928 USD
CY2019 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 USD
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 USD
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
139918942 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
75698877 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
420282374 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
225218105 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
693982 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17155584 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations and Credit Risk</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Credit risk</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accounts receivable are typically unsecured and derived from revenue earned from customers, and thereby exposed to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring of outstanding balances.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Concentration risk</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no receivables from any one customer representing more than 10% of the Company’s consolidated gross accounts receivable at September 30, 2020 and December 31, 2019.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three months ended September 30, 2020 and 2019, no supplier accounted for more than 10% of the total cost of revenue. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of September 30, 2020, there was one supplier that accounted for 19% of total outstanding advance payments, and one supplier that accounted for 98% of advance payments to related parties. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2019, two suppliers accounted for 34% and 15% of total outstanding advance payments, respectively, and these two suppliers accounted for 70% and 30% of advance payments to related parties, respectively.</span></div>
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10
CY2019 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10
CY2019 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10
CY2020Q3 hffg Number Of Major Suppliers
NumberOfMajorSuppliers
1 supplier
CY2019Q4 hffg Number Of Major Suppliers
NumberOfMajorSuppliers
2 supplier
CY2019Q4 hffg Number Of Major Suppliers
NumberOfMajorSuppliers
2 supplier
CY2020Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
25885074 USD
CY2019Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
50651104 USD
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1373921 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
623970 USD
CY2020Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
24511153 USD
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
50027134 USD
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
2726981 USD
CY2020Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
87372668 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
623970 USD
CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
658104 USD
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
2024471 USD
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-50090 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1274520 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
31665 USD
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1373921 USD
CY2019Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
576349 USD
CY2020Q3 us-gaap Equity Method Investments
EquityMethodInvestments
2361888 USD
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
2296276 USD
CY2019 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 USD
us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0 USD
CY2019Q3 us-gaap Depreciation
Depreciation
731731 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
171428225 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
66168472 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33321097 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28630325 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
138107128 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
37538147 USD
us-gaap Depreciation
Depreciation
4870523 USD
us-gaap Depreciation
Depreciation
2160538 USD
CY2020Q3 us-gaap Depreciation
Depreciation
1605661 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8167725 USD
CY2019Q4 us-gaap Goodwill
Goodwill
406703348 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
338191407 USD
CY2020Q3 us-gaap Goodwill
Goodwill
68511941 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
188503000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9982775 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
178520225 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
188503000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1815050 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
186687950 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2722575 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
476262 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
10890300 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
10890300 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
10890300 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
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CY2020Q3 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
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CY2020Q3 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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CY2019Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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CY2020Q3 us-gaap Deferred Income Tax Liabilities
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CY2020Q3 us-gaap Deferred Tax Liabilities
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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