LAS VEGAS - HF Foods Group Inc. (NASDAQ: HFFG), a prominent distributor to Asian restaurants in the U.S., announced the appointment of Cindy Yao as Chief Financial Officer, effective from May 1, 2024. Yao brings over 30 years of financial and accounting leadership to the table, with her most recent decade spent at Markel (NYSE:MKL) Food Group as CFO and Executive Vice President.
Peter Zhang, CEO of HF Foods, expressed confidence in Yao's appointment, noting her extensive experience and her alignment with HF Foods' goals for operational efficiency and sustainable growth.
Yao's career includes significant roles at Bausch + Lomb Corporation and Corning Incorporated (NYSE:GLW), among others. She is an alumnus of the University of Rochester, Virginia Polytechnic Institute, and East China Normal University.
HF Foods, headquartered in Las Vegas, Nevada, serves the Asian American restaurant sector through a network of distribution centers. The company sources a variety of fresh, frozen, and dry food products, as well as non-food items, catering to the growing demand for Asian cuisine in the United States.
This announcement is based on a press release statement and includes forward-looking statements regarding the company's expectations for future results. These are subject to risks and uncertainties and are not guarantees of future performance. HF Foods has stated that it does not undertake any obligation to revise these forward-looking statements except as required by law.
InvestingPro Insights
As HF Foods Group Inc. (NASDAQ: HFFG) welcomes Cindy Yao as the new CFO, the company's stock metrics reflect a challenging period. The InvestingPro Tips highlight that HF Foods' stock is currently in oversold territory according to the RSI, an indicator that may interest investors looking for potential rebounds. Moreover, the stock has experienced significant pressure, taking a big hit over the last week and trading near its 52-week low, which could present a buying opportunity for value investors.
Examining the real-time data from InvestingPro, HF Foods' market capitalization stands at 150.21 million USD, indicating the size and scale of the company within the distribution sector. The revenue for the last twelve months as of Q4 2023 was reported at 1148.49 million USD, showing the company's capacity to generate sales despite a marginal decline in revenue growth of -1.88%. Moreover, with a Price / Book ratio of 0.52, the company's stock is trading at a valuation that could be attractive to investors seeking assets potentially undervalued relative to their book value.
For investors considering HF Foods as a potential addition to their portfolio, the InvestingPro Tips also reveal that the company's liquid assets exceed short-term obligations, suggesting a solid short-term financial position. However, it's worth noting that HF Foods has not been profitable over the last twelve months and does not pay a dividend to shareholders, factors that might influence investment decisions.
For more in-depth analysis and additional InvestingPro Tips, interested readers can explore further insights on InvestingPro. The platform offers a total of 12 tips for HF Foods, providing a comprehensive overview for investors. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, readers can use the coupon code PRONEWS24.
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