v3.25.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2025
Sep. 30, 2024
Current assets:    
Cash and cash equivalents $ 9,205,552 $ 18,118,456
Restricted cash 2,945,993 4,410,489
Accounts receivable, net of allowance for expected credit loss of $1,044,690 and $1,003,514, respectively 17,579,236 18,713,342
Notes receivable, net 7,779,889 7,901,784
Inventories 27,762,730 23,312,978
Advances to suppliers, net 4,674,487 3,622,162
Advances to suppliers, net – related parties 453 692,485
Other receivables, net 1,176,030 700,513
Total current assets 71,124,370 77,472,209
Property, plant and equipment, net 10,475,237 8,047,615
Land use rights, net 4,181,325 4,373,158
Long-term investments 12,583,599 13,012,340
Deferred tax assets 617,674 550,874
Other noncurrent assets, net 115,508 138,335
TOTAL ASSETS 99,097,713 103,594,531
Current liabilities:    
Accounts payable 779,848 1,889,342
Accrued expenses and other current liabilities 1,969,739 2,153,227
Notes payable 8,474,375 13,337,893
Advances from customers 2,595,297 1,548,151
Advances from customers - related parties 20,616 5,650
Short-term borrowings 2,492,833 1,249,765
Long-term borrowings - current portion 5,512
Taxes payable 2,766,865 3,644,165
Total current liabilities 19,105,085 23,828,193
Long-term borrowings 2,750,562
Deferred government grants - noncurrent portion 1,102,429 1,139,991
TOTAL LIABILITIES 23,208,575 25,277,092
COMMITMENTS AND CONTIGENCIES
Shareholders’ equity:    
Common stock, $0.0002 par value, 250,000,000 shares authorized, 14,279,182 and 14,279,182 shares issued and outstanding at March 31, 2025 and September 30, 2024. 2,856 2,856
Additional paid-in capital 67,329,705 67,329,705
Statutory surplus reserves 964,381 919,978
Retained earnings 7,805,962 7,704,459
Accumulated other comprehensive (loss) income (507,067) 2,046,228
Total equity attributable to Huadi International Group Co., Ltd. 75,595,837 78,003,226
Equity attributable to non-controlling interests 293,301 314,213
Total shareholders’ equity 75,889,138 78,317,439
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 99,097,713 103,594,531
Related Party    
Current liabilities:    
Due to related parties - noncurrent portion $ 250,499 $ 308,908