| Nature of business and organization FGI Industries Ltd. (“FGI” or the “Company”) is a holding company organized on May 26, 2021, under the laws of the Cayman Islands. The Company has no substantive operations other than holding all of the outstanding equity of its operating subsidiaries as described below. The Company is a supplier of global kitchen and bath products and currently focuses on the following categories: sanitaryware (primarily toilets, sinks, pedestals and toilet seats), bath furniture (vanities, mirrors and cabinets), shower systems, custom kitchen cabinetry and other accessory items. These products are sold primarily for repair and remodeling (“R&R”) activity and, to a lesser extent, new home or commercial construction. The Company sells its products through numerous partners, including mass retail centers, wholesale and commercial distributors, online retailers and independent dealers and distributors. The accompanying unaudited condensed consolidated financial statements reflect the activities of FGI and each of the following entities as described below: | | | | | | | | | | | | | | | | Name | | Background | | Ownership | FGI Industries Inc.
(“FGI Industries”, formerly named Foremost Groups, Inc.) | | •A New Jersey corporation •Incorporated on January 5, 1988 •Sales and distribution in the United States | | 100% owned by FGI | FGI Europe Investment Limited
(“FGI Europe”) | | •A British Virgin Islands holding company •Incorporated on January 1, 2007 | | 100% owned by FGI | FGI International, Limited
(“FGI HK”) | | •A Hong Kong company •Incorporated on June 2, 2021 •Sales, sourcing and product development | | 100% owned by FGI | FGI Canada Ltd.
(“FGI Canada”) | | •A Canadian company •Incorporated on October 17, 1997 •Sales and distribution in Canada | | 100% owned by FGI Industries Inc. | FGI Germany GmbH & Co. KG
(“FGI Germany”) | | •A German company •Incorporated on January 24, 2013 •Sales and distribution in Germany | | 100% owned by FGI Europe Investment Limited | FGI China, Ltd.
(“FGI China”) | | •A PRC limited liability company •Incorporated on August 19, 2021 •Sourcing and product development | | 100% owned by FGI International, Limited | FGI United Kingdom Ltd
(“FGI UK”) | | •An UK company •Incorporated on December 10, 2021 •Sales and distribution in UK | | 100% owned by FGI Europe Investment Limited | FGI Australasia Pty Ltd
(“FGI AU”) | | •An Australian company •Incorporated on September 8, 2022 •Sales and distribution in Australia •Dissolved in 2025 | | 100% owned by FGI | Covered Bridge Cabinetry Manufacturing Co., Ltd
(“CBM”) | | •A Cambodian company •Incorporated on April 21, 2022 •Manufacturing in Cambodia | | 100% owned by FGI | Isla Porter LLC
(“Isla Porter”) | | •A New Jersey company •Formed on June 2, 2023 •Sales and distribution in the United States | | 60% owned by FGI Industries Inc. | FGI Industries India Private Limited
(“FGI India”) | | •An Indian company •Incorporated on June 11, 2024 •Sales and distribution in India | | 100% owned by FGI |
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