Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 65

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 65
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’s operating, investing, and financing cash flows:

|                                           |     |  Years ended 
 December 31, |      |     |             |   |
| 2024                                      |     |              | 2023 |     |             |   |
| Net cash used in operating activities     |     |   (1,576,129 |    ) |     | (11,205,424 | ) |
| Net cash used in investing activities     |     |   (4,453,899 |    ) |     | (11,592,307 | ) |
| Net cash provided by financing activities |     |    3,711,358 |      |     |  11,302,462 |   |

Cash Flows Used in Operating Activities Cash flows generated from operating activities are typically re -investedto support the growth of the Group’s business. The Group’s operating cash inflows include cash from sales of its products. These cash inflows are offset by the Group’s payments to suppliers for production materials and parts used in the Group’s manufacturing process, operating expenses, and interest payments on the Group’s financings.

43

During the year ended December 31, 2024 and 2023, net cash used in operating activities was $1,576,129 and $11,205,424, respectively. The change was mainly attributable to (i) the increase in cash received from customers resulting from sales growth and (ii) the decrease in cash outflows for raw material purchases, due to our relatively high inventory reserves at the end of 2023. Cash Flows Used in Investing Activities Cash used in investing activities primarily relate to purchase of property, plant, and equipment. Net cash used in investing activities was $4,453,899 and $11,592,307 for the year ended December 31, 2024 and 2023, respectively. The decrease was primarily due to less investment in land and buildings during the year ended December31, 2024 compared with that of fiscal year 2023. Cash Flows from Financing Activities Net cash generated from financing activities was $3,711,358 for the year ended December 31, 2024, which primarily consists of the proceeds of $41,610,136 from bank borrowings and partially offset by the repayment of $37,898,778 of bank borrowings. Net cash generated from financing activities was $11,302,462 for the year ended December 31, 2023, which primarily consists