Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 184

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 184
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iation expenses were $1,468,548 and $1,192,025 for the years ended December 31, 2023 and 2022, respectively.

F-18

FEMCO STEEL TECHNOLOGY CO., LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. dollars, except for share and per share data, or otherwise noted) 7.INTANGIBLE ASSETS, NET

|                                |     | As of December 31, |       2023 |   |     |   |       2022 |   |
|:-------------------------------|:----|:-------------------|-----------:|:--|:----|:--|-----------:|:--|
| Trade mark                     |     | $                  |  6,500,000 |   |     | $ |  6,500,000 |   |
| Software                       |     |                    |    854,975 |   |     |   |    833,680 |   |
| Intangible assets, gross       |     |                    |  7,354,975 |   |     |   |  7,333,680 |   |
| Less: accumulated amortization |     |                    | (2,023,632 | ) |     |   | (1,690,938 | ) |
| Intangible assets, net         |     | $                  |  5,331,343 |   |     | $ |  5,642,742 |   |

Amortization expenses were $347,040 and $351,862 for the years ended December 31, 2023 and 2022, respectively. 8.PREPAYMENT AND OTHER NON -CURENT ASSETS Prepayment and other non -currentassets consisted of the following:

|                          |     | As of December 31, |    2023 |     |   |      2022 |
|:-------------------------|:----|:-------------------|--------:|:----|:--|----------:|
| Prepayment for equipment |     | $                  |  46,461 |     | $ |   616,745 |
| Deposit                  |     |                    | 516,735 |     |   |   567,544 |
| Others                   |     |                    |  30,277 |     |   |    31,677 |
| Total                    |     | $                  | 593