Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 195

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 195
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ANCIAL STATEMENTS

(In U. S. dollars, except for share and per
share data, or otherwise noted)

14. ORDINARY SHARES

FST was established under the laws of Taiwan on
May 18, 1976. As of December 31, 2022, the authorized number of Ordinary Shares was100,000,000with par value of TWD$10(approximately
$0.33) per share and41,964,919shares issued and outstanding. On June 19, 2023, FST’s shareholder meeting approved to issue12,589,476additional Ordinary Shares to all existed shareholders at par value of TWD$10(approximately $0.33) per share as stock dividend,
each1,000Ordinary Shares of existed shareholders has the right to receive300shares of stock dividend. As of December 31,
2023, the authorized number of Ordinary Shares was100,000,000with par value of TWD$10(approximately $0.33) per share and54,554,395shares issued and outstanding.

The authorized number of ordinary shares of the
Company is500,000,000shares with par value of US$0.0001each. As of December 31, 2023, the Company had issuedoneordinary share.

On June 26, 2024, the Company entered into the
several restructuring documents with certain FST’s shareholders (“ FST Restructuring”). On December 27, 2024, the Company
consummated the FST Restructuring with FST, and FST become a subsidiary of the Company. The Company issued37,749,380ordinary shares
to initial FST shareholders who participated in the FST Restructuring. As of December 31, 2024, issued and outstanding ordinary shares
of the Company was37,749,381.

15. CONCENTRATION OF
RISK

  (a)      Exchange rate risk s  
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FST Taiwan and the Group’s subsidiary in
Japan may be exposed to significant currency risks from exchange rate fluctuations and the degree of foreign exchange rates between the
U. S. Dollar and the TWD, and between the U. S. Dollar and the JPY. As of December 31, 2024 and 2023, the TWD denominated cash and cash
equivalents and restricted cash amounted to $1,806,939and $1