Company: FSTWF
Filing Date: 2025-07-25
Form Type: 424B3
Source: 0001213900-25-067790
Chunk: 190

Company: FST Corp.
Filing Date: 2025-07-25
Form: 424B3
Chunk 190
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 2024 |   |     |   | December 31, 
         2023 |   |
|:---------------------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Valuation allowance for deferred tax assets, beginning of year |     |   |      733,726 |   |     |   |      394,573 |   |
| Increases allocated to continuing operations                   |     |   |      792,545 |   |     |   |      340,167 |   |
| Translation adjustment                                         |     |   |     (112,181 | ) |     |   |       (1,014 | ) |
| Net change in the valuation allowance                          |     |   |      680,364 |   |     |   |      339,153 |   |
| Valuation allowance for deferred tax assets, ending of year    |     | $ |    1,414,090 |   |     | $ |      733,726 |   |

As of December 31, 2024, the Group had net operating loss carry forwards available to offset future taxable income, shown below by major jurisdictions:

| Jurisdiction |     | Amount |           |     |  Expiration 
        year |
|:-------------|:----|:-------|----------:|:----|------------:|
| US           |     | $      | 3,257,086 |     |  Indefinite |
| US           |     | $      | 2,426,941 |     |        2043 |
| US           |     | $      |   821,964 |     |        2044 |
| Japan        |     | $      | 4,528,302 |     | 2031 – 2034 |

Unrecognized tax benefits The Group evaluates each tax position (and the potential application of interest and penalties) based on the technical merits, and measure the unrecognized tax benefits associated with the tax positions. As of December 31, 2024 and 2023, the Group did not have any significant unrecognized tax benefits. The Group did not incur interest and penalties related to income taxes for the years ended December 31, 2024 and 2023.

F-30

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