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Nature of Business and Organization (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]


Name	Background	Ownership
FGI Industries, Inc.	● A New Jersey corporation	100% owned by FGI
(formerly named Foremost Groups, Inc.)	● Incorporated on January 5, 1988
	● Sales and distribution in the United States
FGI Europe Investment Limited	● A British Virgin Islands holding company	100% owned by FGI
	● Incorporated on January 1, 2007
FGI International, Limited	● A Hong Kong company	100% owned by FGI
	● Incorporated on June 2, 2021
	● Sales, sourcing and product development
FGI Canada Ltd.	● A Canadian company	100% owned by FGI Industries, Inc.
	● Incorporated on October 17, 1997
	● Sales and distribution in Canada
FGI Germany GmbH & Co. KG	● A German company	100% owned by FGI Europe Investment Limited
	● Incorporated on January 24, 2013
	● Sales and distribution in Germany
FGI China, Ltd.	● A PRC limited liability company	100% owned by FGI International, Limited
	● Incorporated on August 19, 2021
	● Sourcing and product development
FGI United Kingdom Ltd	● An UK company	100% owned by FGI Europe Investment Limited
	● Incorporated on December 10, 2021
	● Sales and distribution in UK
FGI Australasia Pty Ltd	● An Australian company	100% owned by FGI
	● Incorporated on September 8, 2022
	● Sales and distribution in Australia
Covered Bridge Cabinetry Manufacturing Co., Ltd	● A Cambodian company	100% owned by FGI
	● Incorporated on April 21, 2022
	● Manufacturing in Cambodia
Isla Porter LLC	● A New Jersey company	60% owned by FGI Industries, Inc.
	● Formed on June 2, 2023
	● Sales and distribution in the United States

Schedule of net results of reorganized operations

The following table sets forth the revenues, cost of revenues and operating expenses that were irrelevant to the K&B Business allocated from FGI Industries to Foremost Home, Inc. for years ended December 31, 2023 and 2022, respectively.


	For the Years Ended
	December 31,
	2023		2022
	USD		USD
Revenues	$	991,919	$	34,470,623
Cost of revenues		(768,065)		(27,735,284)
Gross profit		223,854		6,735,339
Selling and distribution expenses		45,979		(3,883,799)
General and administrative expenses		—		(322,825)
Research and development expenses		—		(219,346)
Income from operations	$	269,833	$	2,309,369

The following table sets forth the revenues, cost of revenues and operating expenses that were directly related to the K&B Business allocated from Foremost Worldwide Co., Ltd., a wholly-owned subsidiary of Foremost, to FGI International for years ended December 31, 2023 and 2022, respectively.


	For the Years Ended
	December 31,
	2023		2022
	USD		USD
Revenues	$	—	$	25,022,960
Cost of revenues		—		(22,853,884)
Gross profit		—		2,169,076
Selling and distribution expenses		—		(517,408)
General and administrative expenses		—		(466,872)
Research and development expenses		—		(27,315)
Income from operations	$	—	$	1,157,481