Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 189

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 189
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 of single suppliers who represented 10% or more of the Group’s total accounts payable:

|                                            |     | As of December 31, |   |     |      |   |
|                                            |     |               2023 |   |     | 2022 |   |
| Percentage of the Group’s accounts payable |     |                    |   |     |      |   |
| Supplier A                                 |     |                 31 | % |     |   18 | % |
| Supplier D                                 |     |                  * |   |     |   10 | % |
| Total                                      |     |                 31 | % |     |   28 | % |

____________ *Represent percentage less than 10% 16.COMMITMENTS AND CONTINGENCIES Contingencies The Group’s significant unrecognized contractual commitments are as follows:

|                                              |     |   | December 31, 
         2023 |     |   | December 31, 
         2022 |
|:---------------------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Acquisition of property, plant and equipment |     | $ |    1,319,465 |     | $ |    1,077,759 |
| Access to software license services          |     |   |      349,755 |     |   |      351,316 |
| Total                                        |     | $ |    1,669,220 |     | $ |    1,429,075 |

In the ordinary course of business, the Group may be subject to legal proceedings regarding contractual and employment relationships and a variety of other matters. The Group records contingent liabilities resulting from such claims, when a loss is assessed to be probable, and the amount of the loss is reasonably estimable. In the opinion of management, there were no material pending or threatened claims and litigation as of the issuance date of these consolidated financial statements. 17.SUBSEQUENT EVENTS The Group has evaluated subsequent events through the date of issuance of the consolidated financial statements, and it did not identify any subsequent events with material financial impact on the Group’s consolidated financial statements.

F-26

FEMCO STEEL TECHNOLOGY CO., LTD.
CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for share and per share data, or otherwise noted)

|                                                                                                                                                     |     |      As of 
   June 30, 
       2024 |   |     |        As of