HF Foods Shares Edge Lower Ahead of June Meeting
HF Foods Group Inc. shares fell 3.94% Friday to $1.95, capping a weeklong drop of 2.99%. The company reported first-quarter net revenue up 4.5% to $312 million, but gross margin slipped to 16.2% amid higher fuel costs and more low-margin seafood sales. HF Foods disclosed material weaknesses in financial controls. Zhou Min Ni reported beneficial ownership of 6.7% of shares.
