{"url_path":"/sec/esgh/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1883835/0001520138-26-000169-index.html","accession_number":"0001520138-26-000169","cik":"0001883835","ticker":"ESGH","issuer_name":"ESG Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1883835/0001520138-26-000169-index.html","primary_entity_key":"0001883835","primary_entity_name":"ESG Inc."},"word_count":905,"has_tables":true,"body_markdown":"false\n2026\n--12-31\nQ1\n0001883835\n\n0001883835\n\n2026-01-01\n2026-03-31\n\n0001883835\n\n2026-05-14\n\n0001883835\n\n2026-03-31\n\n0001883835\n\n2025-12-31\n\n0001883835\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:CommonStockMember\n\n2024-12-31\n\n0001883835\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2024-12-31\n\n0001883835\n\nus-gaap:RetainedEarningsMember\n\n2024-12-31\n\n0001883835\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2024-12-31\n\n0001883835\n\nESGH:TotalCompanysEquityMember\n\n2024-12-31\n\n0001883835\n\nus-gaap:NoncontrollingInterestMember\n\n2024-12-31\n\n0001883835\n\n2024-12-31\n\n0001883835\n\nus-gaap:CommonStockMember\n\n2025-12-31\n\n0001883835\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-12-31\n\n0001883835\n\nus-gaap:RetainedEarningsMember\n\n2025-12-31\n\n0001883835\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-12-31\n\n0001883835\n\nESGH:TotalCompanysEquityMember\n\n2025-12-31\n\n0001883835\n\nus-gaap:NoncontrollingInterestMember\n\n2025-12-31\n\n0001883835\n\nus-gaap:CommonStockMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:RetainedEarningsMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:TotalCompanysEquityMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:NoncontrollingInterestMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:CommonStockMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:RetainedEarningsMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:TotalCompanysEquityMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:NoncontrollingInterestMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:CommonStockMember\n\n2025-03-31\n\n0001883835\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-03-31\n\n0001883835\n\nus-gaap:RetainedEarningsMember\n\n2025-03-31\n\n0001883835\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2025-03-31\n\n0001883835\n\nESGH:TotalCompanysEquityMember\n\n2025-03-31\n\n0001883835\n\nus-gaap:NoncontrollingInterestMember\n\n2025-03-31\n\n0001883835\n\n2025-03-31\n\n0001883835\n\nus-gaap:CommonStockMember\n\n2026-03-31\n\n0001883835\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-03-31\n\n0001883835\n\nus-gaap:RetainedEarningsMember\n\n2026-03-31\n\n0001883835\n\nus-gaap:AccumulatedOtherComprehensiveIncomeMember\n\n2026-03-31\n\n0001883835\n\nESGH:TotalCompanysEquityMember\n\n2026-03-31\n\n0001883835\n\nus-gaap:NoncontrollingInterestMember\n\n2026-03-31\n\n0001883835\n\n2025-01-01\n2025-12-31\n\n0001883835\n\ncountry:CN\nESGH:CompostIIIMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\ncountry:CN\nESGH:CompostIIIMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\ncountry:CN\nESGH:WhiteButtonMushroomMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\ncountry:CN\nESGH:WhiteButtonMushroomMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\ncountry:HK\nESGH:MushroomPowderSeasoningsMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\ncountry:HK\nESGH:MushroomPowderSeasoningsMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:SalesRevenueNetMember\nus-gaap:CustomerConcentrationRiskMember\nESGH:CustomerOneMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:SalesRevenueNetMember\nus-gaap:CustomerConcentrationRiskMember\nESGH:CustomerTwoMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:SalesRevenueNetMember\nus-gaap:CustomerConcentrationRiskMember\nESGH:CustomerThreeMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:AccountsReceivableMember\nus-gaap:CustomerConcentrationRiskMember\nESGH:CustomerOneMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:AccountsReceivableMember\nus-gaap:CustomerConcentrationRiskMember\nESGH:CustomerOneMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:PrivateFundsMember\n\n2026-03-31\n\n0001883835\n\nESGH:FunanZhihuaMushroomCoLtdMember\n\n2026-03-31\n\n0001883835\n\nESGH:PrivateFundsMember\n\n2025-12-31\n\n0001883835\n\nESGH:FunanZhihuaMushroomCoLtdMember\n\n2025-12-31\n\n0001883835\n\nESGH:AgriculturalBankOfChinaFunanBranchMember\n\n2026-03-31\n\n0001883835\n\nESGH:AgriculturalBankOfChinaFunanBranchMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:AgriculturalBankOfChinaFunanBranchMember\n\n2025-12-31\n\n0001883835\n\nESGH:AgriculturalBankOfChinaFunanBranchMember\n\n2025-01-01\n2025-12-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankMember\n\n2026-03-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankMember\n\n2025-12-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankMember\n\n2025-01-01\n2025-12-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankOneMember\n\n2026-03-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankOneMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankOneMember\n\n2025-12-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankOneMember\n\n2025-01-01\n2025-12-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankTwoMember\n\n2026-03-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankTwoMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankTwoMember\n\n2025-12-31\n\n0001883835\n\nESGH:AnhuiFunanRuralCommercialBankTwoMember\n\n2025-01-01\n2025-12-31\n\n0001883835\n\nESGH:BankOfChinaFunanBranchMember\n\n2026-03-31\n\n0001883835\n\nESGH:BankOfChinaFunanBranchMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:BankOfChinaFunanBranchMember\n\n2025-12-31\n\n0001883835\n\nESGH:BankOfChinaFunanBranchMember\n\n2025-01-01\n2025-12-31\n\n0001883835\n\nESGH:WhiteButtonMushroomMember\nESGH:ThirdPartyMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:CompostIIIMember\nESGH:ThirdPartyMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:MushroomPowderSeasoningsMember\nESGH:ThirdPartyMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:CorporateMember\nESGH:ThirdPartyMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:EliminationsMember\nESGH:ThirdPartyMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:ThirdPartyMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:WhiteButtonMushroomMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:CompostIIIMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:MushroomPowderSeasoningsMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nus-gaap:CorporateMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:EliminationsMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:TotalMember\n\n2026-01-01\n2026-03-31\n\n0001883835\n\nESGH:WhiteButtonMushroomMember\nESGH:ThirdPartyMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:CompostIIIMember\nESGH:ThirdPartyMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:MushroomPowderSeasoningsMember\nESGH:ThirdPartyMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:CorporateMember\nESGH:ThirdPartyMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:EliminationsMember\nESGH:ThirdPartyMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:ThirdPartyMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:WhiteButtonMushroomMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:CompostIIIMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:MushroomPowderSeasoningsMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nus-gaap:CorporateMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:EliminationsMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:TotalMember\n\n2025-01-01\n2025-03-31\n\n0001883835\n\nESGH:LabrysFundIILPMember\n\n2025-08-05\n\n0001883835\n\nESGH:LabrysFundIILPMember\n\n2025-08-01\n2025-08-05\n\n0001883835\n\nESGH:LabrysNoteMember\n\n2026-02-01\n2026-02-06\n\n0001883835\n\nESGH:LabrysNoteMember\n\n2026-02-06\n\n0001883835\n\nESGH:MonroeStreetCapitalPartnersLPMember\n\n2026-03-06\n\n0001883835\n\nESGH:CromStructuredOpportunitiesFundILPMember\n\n2026-03-09\n\n0001883835\n\nESGH:MonroeStreetCapitalPartnersLPMember\n\n2026-03-01\n2026-03-06\n\n0001883835\n\nESGH:CromStructuredOpportunitiesFundILPMember\n\n2026-03-01\n2026-03-09\n\n0001883835\n\nus-gaap:SubsequentEventMember\n\n2026-04-01\n2026-04-10\n\n0001883835\n\nus-gaap:SubsequentEventMember\nESGH:LabrysNoteMember\n\n2026-04-01\n2026-04-10\n\n0001883835\n\nus-gaap:SubsequentEventMember\nESGH:LabrysNoteMember\n\n2026-04-10\n\niso4217:USD\n\nxbrli:shares\n\niso4217:USD\n\nxbrli:shares\n\nxbrli:pure\n\n**UNITED STATES**\n\n \n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n \n\nWashington, D.C. 20549\n\n \n\n**FORM 10-Q**\n\n \n\n☒Quarterly Report pursuant to Section 13 or 15(d) of the Securities\nExchange Act of 1934\n\n \n\n**For the quarterly period ended March 31, 2026**\n\n \n\n☐Transition Report pursuant to Section 13 or 15(d) of the Securities\nExchange Act of 1934\n\n \n\nFor the transition period from __________ to __________\n\n \n\n**Commission File Number: 000-56532**\n\n \n\n**ESG INC.**\n\n(Exact name of registrant as specified in its charter)\n\n \n\n**Nevada**\n**87-1918342**\n\n(State or Other Jurisdiction of Incorporation or Organization)\n(I.R.S. Employer Identification No.)\n\n \n\n433 East Hillendale Road, Chadds Ford, PA 19317\n\n(Address of Principal Executive Offices) (Zip Code)\n\n267-467-5871\n\n(Registrant’s telephone number, including\narea code)\n\n \n\nN/A\n\n(Former Name, former address and former fiscal\nyear, if changed since last report)\n\n \n\nSecurities registered under Section 12(b) of the Exchange Act: None\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports\nrequired to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter\nperiod that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\nYes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically\nevery Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such\nshorter period that the registrant was required to submit such files). Yes ☒\nNo ☐\n\n \n\nLarge accelerated filer ☐\nAccelerated filer ☐ Non-accelerated filer ☒\nSmaller reporting company ☒ Emerging growth company ☒\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant\nhas elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant\nto Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as\ndefined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nState the number of shares outstanding of each of the issuer’s\nclasses of common equity, as of the latest practicable date: 25,908,268\ncommon shares issued and outstanding as of May 14, 2026.\n\n \n\n \n\n \n\n \n\n**ESG INC.**\n\n \n\n**QUARTERLY REPORT ON FORM 10-Q**\n\n \n\n**TABLE OF CONTENTS**\n\n \n\n \n \n**Page**\n\n[PART I](#a_001)\n[FINANCIAL INFORMATION](#a_001)\n \n\n[Item 1.](#a_002)\n[Financial Statements (Unaudited)](#a_002)\n[F-1](#a_002)\n\n[Item 2.](#a_003)\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#a_003)\n[3](#a_003)\n\n[Item 3.](#a_004)\n[Quantitative and Qualitative Disclosures About Market Risk](#a_004)\n[4](#a_004)\n\n[Item 4.](#a_005)\n[Controls and Procedures](#a_005)\n[4](#a_005)\n\n[PART II](#a_006)\n[OTHER INFORMATION](#a_006)\n[5](#a_006)\n\n[Item 1.](#a_007)\n[Legal Proceedings](#a_007)\n[5](#a_007)\n\n[Item 1A.](#a_008)\n[Risk Factors](#a_008)\n[5](#a_008)\n\n[Item 2.](#a_009)\n[Unregistered Sales of Equity Securities and Use of Proceeds](#a_009)\n[5](#a_009)\n\n[Item 3.](#a_010)\n[Defaults Upon Senior Securities](#a_010)\n[5](#a_010)\n\n[Item 4.](#a_011)\n[Mine Safety Disclosures](#a_011)\n[5](#a_011)\n\n[Item 5.](#a_012)\n[Other Information](#a_012)\n[5](#a_012)\n\n[Item 6.](#a_013)\n[Exhibits](#a_013)\n[5](#a_013)\n\n \n[Signatures](#a_014)\n[6](#a_014)\n\n \n\n2\n\n \n\n \n\n**PART I. FINANCIAL INFORMATION**"}