Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 168

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 168
---
 financial position that sum to the total of the same amounts shown in the cash flows:

|                                                                           |     | As of December 31, |       2023 |     |   |       2022 |
|:--------------------------------------------------------------------------|:----|:-------------------|-----------:|:----|:--|-----------:|
| Cash and cash equivalents, beginning of the period                        |     | $                  | 20,740,375 |     | $ | 10,350,146 |
| Restricted cash, beginning of the period                                  |     |                    |     81,537 |     |   |    254,131 |
| Total cash, cash equivalents and restricted cash, beginning of the period |     | $                  | 20,821,912 |     | $ | 10,604,277 |

|                                                                     |     | As of December 31, |      2023 |     |   |       2022 |
|:--------------------------------------------------------------------|:----|:-------------------|----------:|:----|:--|-----------:|
| Cash and cash equivalents, end of the period                        |     | $                  | 8,904,618 |     | $ | 20,740,375 |
| Restricted cash, end of the period                                  |     |                    |   401,110 |     |   |     81,537 |
| Total cash, cash equivalents and restricted cash, end of the period |     | $                  | 9,305,728 |     | $ | 20,821,912 |

F-7 FEMCO STEEL TECHNOLOGY CO., LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. dollars, except for share and per share data, or otherwise noted) 1.ORGANIZATION AND PRINCIPAL ACTIVITIES Femco Steel Technology Co., Ltd. (the “Company”) and its subsidiaries (collectively referred to as the “Group”) are principally engaged in developing, producing and selling of golf club shafts and other sports equipment. The Company was incorporated under the law of Taiwan with limited liability on May 18, 1976. FST America, Inc., wholly owned by the Company, was incorporated on September 9, 2015 in Colorado, US. It is engaged in sports equipment business. FST Japan LLC, wholly owned by FST America, Inc., was incorporated on September 16, 2020 in Japan. It is engaged