Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 202

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 202
---
764                         ―  
  Expense recognized on transferring of 2,650,000 Class B ordinary shares from Old Sponsor to New Sponsor                                                ―                (2,851,750  
  Total other income, net                                                                                                                          409,957                 2,569,531  
  Net (loss) income                                                                                                    $                        (3,318,199      $            425,912  
  Basic and diluted weighted average shares outstanding of Class A ordinary shares subject to possible redemption                                3,871,740                 7,519,729  
  Basic and diluted net (loss) income per share, Class A ordinary shares subject to possible redemption                $                             (0.47      $               0.04  
  Basic and diluted weighted average shares outstanding of non-redeemable Class A and Class B ordinary shares                                    3,250,000                 3,250,000  
  Basic and diluted net (loss) income per share, non-redeemable Class A and Class B ordinary shares                    $                             (0.47      $               0.04  

The accompanying notes are an integral part
of the financial statements.

F-36

FST LTD.

(FORMERLY CHENGHE ACQUISITION I CO.)

STATEMENTS OF CHANGES IN
SHAREHOLDERS’ DEFICIT

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

  Balance – December 31, 2022                                                        —              —        3,250,000       325       —               (5,491,702      (5,491,377  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Conversion of Class B ordinary shares to Class A ordinary shares                   1,058,127      106      (1,058,127      (106      —                        —               —  
  Waived Deferred Underwriter Commissions                                            —              —        —               —         —                4,363,450       4,363,450  
  Remeasurement of Class A ordinary shares to redemption amount                      —              —        —               —         (1,191,496      (3,519,235      (4,710,731  
  Waived April 2023 Promissory Note                                                  —              —        —               —         300,000                  —         300,000  
  Transfer of 2,650