Earnings Transcript for HFFG - Q4 Fiscal Year 2023

Anna Heller : Hello, everyone. Welcome to HF Foods Group’s Fourth Quarter and Full Year 2023 Earnings Conference Call. Joining me on today’s call are Peter Zhang, HF Foods’ Chief Executive Officer, and Felix Lin, the Company’s President, Chief Operating Officer and interim Chief Financial Officer. In a moment, we'll hear their prepared remarks. By now, everyone should have access to the earnings release for the period ended December 31, 2023 that went out Thursday, March 14 at approximately 8

Peter Zhang : Hello, everyone. I am excited to be speaking to you today. I will start with a quick introduction. Felix will talk to you about our financial results as well as some of the exciting progress we have made with our transformational plan. For those of you who are new to our story, HF Foods is a leading Asian foodservice distributor for Asian restaurants in the United States. We partner with domestic and international suppliers to offer a wide range of high-quality Asian ingredients for our customers, and our widespread distribution network covers 95% of the United States. I would also like to note that Felix Lin has taken on the role of President of HF Foods, in addition to being our Chief Operating Officer and Interim CFO. Now over to you, Felix.

Felix Lin: Thanks, Peter. I am excited to be speaking with you after our fourth quarter of 2023 in which our gross profit, gross margin, net income, and Adjusted EBITDA all increased compared to the prior year period. We have already begun to see signs of success from our operational transformation plan that we laid out during our third quarter earnings call in November, and I will speak about our progress on these key financial metrics. I’ll start with our results for our fourth quarter ended December 31st, 2023, versus the same period in 2022

End of Q&A: