Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 184

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 184
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, net                   $                     14,530,841      $         15,205,624  

The changes in inventory valuation allowance are
as follows:

                                            For the Years Ended                                        
                                            December 31,                                               
                                            2024                                    2023               
 ───────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance at the beginning of the year      $                          900,142      $         704,802  
  Additions                                                            494,204                192,768  
  Exchange rate difference                                            ( 41,348                  2,572  
  Balance at the end of the year            $                        1,352,998      $         900,142  

F-20

FST Corp.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U. S. dollars, except for share and per
share data, or otherwise noted)

5. PREPAID
EXPENSES AND OTHER CURRENT ASSETS

Prepayments and other current assets consisted
of the following:

                                 As of December 31,                                                   
                                 2024                                   2023                          
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                        (As Restated)                 
  Prepaid expense                $                         822,924      $                    627,642  
  Sales tax refundable                                     311,177                           235,892  
  Prepayments for inventory                                 62,171                            81,307  
  Deposit                                                    7,579                            74,428  
  Others                                                   103,189                           109,529  
  Total                          $                       1,307,040      $                  1,128,798  

6. PROPERTY,
PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consisted
of the following:

                                                         As of December 31,                                                
                                                         2024                                      2023                    
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Land (1)                                               $                          9,946,330      $            9,395,038  
  Machinery                                                                        12,154,188                  13,398,770  
  Office and other equipment                                                        2,576,328                   2,078,313  
  Property and buildings (1)                                                          675,349                     285,260  
  Leasehold improvements                                                            4,627,528                   2,