Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 176

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 176
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 recognition policies for each type of revenue stream are as follows: Sales of golf club shafts The Group manufactures golf clubs and sells them to sports brand manufacturers and distributors. The revenue is recognized at a point in time when the Group satisfies the performance obligation by transferring promised product to a customer upon acceptance by customers. The Group recognizes the accounts receivable at the time of delivery of the goods. Sales of sports accessories, food and beverage The Group is engaged in wholesale of alcoholic beverages, sale of sporting accessories in the retail market and the provision of catering services. Revenue is recognized when the product is physically delivered to and accepted by the customer, and the consideration is paid immediately when the customer purchases the product. The contract payment is not subject to any variable consideration, refund, cancellation or termination provision. No significant financing component, noncash payment identified in the arrangements with customers. Revenue by categories The following table disaggregates the Group’s revenue categories for the years ended December 31, 2023 and 2022:

|                                                |     | For the Years Ended 
 December 31,        |       2023 |     |   |       2022 |
|:-----------------------------------------------|:----|:--------------------|-----------:|:----|:--|-----------:|
| Sales of golf club shafts                      |     | $                   | 27,825,905 |     | $ | 49,111,948 |
| Sales of sports accessories, food and beverage |     |                     |    904,644 |     |   |    667,517 |
| Total revenues                                 |     | $                   | 28,730,549 |     | $ | 49,779,465 |

Revenue by divisions The following table sets forth disaggregation of revenue by customer location.

| Primary geographical markets |     | For the Years Ended 
 December 31,        
 2023                |            |     | 2022 |            |
|:-----------------------------|:----|:--------------------|-----------:|:----|:-----|-----------:|
| America                      |     | $                   | 16,707,660 |     | $    | 20,915,929 |
| Vietnam                      |     |                     |  2,860,192 |     |      |  4,745,564 |
| China mainland               |     |                     |  2,644,342 |     |      |  4,559,686 |
| Taiwan                       |     |                     |  1