Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 194

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 194
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 or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Group in accordance with ASC topic 321, Investments — Equity Securities. There was no impairment recognized for the year ended December 31, 2024. The investment is classified within Level 3 of the fair value hierarchy due to the lack of quoted market prices and limited observable inputs.

F-24

FST Corp.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In U.S. dollars, except for share and per share data, or otherwise noted)

9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other liabilities consisted of the following:

|                                  |     | As of December 31, |      2024 |     |   |      2023 |
|:---------------------------------|:----|:-------------------|----------:|:----|:--|----------:|
| Accrued expense                  |     | $                  | 2,325,766 |     | $ | 2,260,997 |
| Accrued payroll and welfare      |     |                    |   204,973 |     |   |   248,286 |
| Contract liabilities             |     |                    |   166,582 |     |   |    35,080 |
| Payable for purchasing equipment |     |                    |    13,101 |     |   |   233,635 |
| Others                           |     |                    |   330,294 |     |   |   383,260 |
| Total                            |     | $                  | 3,040,716 |     | $ | 3,161,258 |

10. LEASES

Operating lease right-of-use assets, net and operating lease liabilities consisted of the following:

|                                                                |     | As of December 31, |   |     |            |   |
|                                                                |     |               2024 |   |     |       2023 |   |
| Operating lease right-of-use assets                            |     |         10,393,154 |   |     | 11,372,614 |   |
| Operating lease right-of-use assets – accumulated amortization |     |         (4,971,918 | ) |     | (4,434,132 | ) |
| Operating lease right-of-use assets, net                       |     |          5,421,236 |   |     |