Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 66

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 66
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 of the proceeds of $38,752,418 from bank borrowings and partially offset by the repayment of $24,734,659 of bank borrowings. Material Contractual Obligations and Commitments For a discussion of material contractual obligations and commitments, see Note 16 “Commitments and Contingencies” to the Group’s consolidated financial statements included in this prospectus. As of December 31, 2024, besides the significant unrecognized contractual commitments, the repayments of banks loans and payments of operating lease agreements disclosed in the Group’s consolidated financial statements or discussed below, the Group does not have other short -termand long -termmaterial cash requirements. As of December 31, 2024 and December 31, 2023, short -termbank loans which due within one year amounted to $15,265,739 and $14,236,270, respectively, the long -termloans amounted to $9,446,467 and $8,597,848, respectively. The Company has prepared a cash flow forecast for the year ending December31, 2025. Taking into account the current visibility of customer orders and continued revenue growth in the first quarter of 2025, the Company expects full -yearrevenue to grow steadily. In addition, the Company has been in discussions with several financial institutions regarding long -termfinancing and has already obtained formal credit approvals for long -termborrowings from two banks, which will help strengthen the Company’s capital structure. As a contingency plan, if financing progress does not proceed as expected, the Company may dispose of certain non -coreland assets. The sale of such assets is not expected to have a material adverse impact on FST’s day-to -dayoperations. The details maturity date of each bank loan please refer to Note 11 “Borrowings” to the Group’s consolidated financial statements included in this prospectus. The Group leases vehicles and plants under various non -cancellableoperating lease agreements. As of December 31, 2024, the minimum future commitments under these agreements are as follows.

| For the years ending December 31, |     | Operating 
 Leases    |           |
|:----------------------------------|:----|:----------|----------:|
| 2025                              |     | $         | 2,299,231 |
| 2026                              |     |           | 1,303,612 |
| 2027                              |     |           |   588,220 |
|