Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 104

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 7
Chunk 104
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 The yearly utility payments advanced by Far East on the Company’s behalf,
and the corresponding amounts of accounts payable of the Company to Far East for such payments, are in the following amounts respectively:
For 2021, advance of NT$14,032,931 ($458,292.98), and year-end account payable of NT$3,650,297 ($119,212.83); for 2022, advance
of NT$18,647,136 ($608,985.50), and year-end account payable of NT$7,456,912 ($243,530.76); for 2023, advance of NT$23,856,638 ($779,119.46),
and year-end account payable of NT$8,073,402 ($263,664.34); and for 2024, advance of NT$23,577,636 ($719,049.59), with the account
payable as of December 31, 2024 standing at NT$4,031,528 ($122,949.92).

Chiayi
Sports Equipment Co., Ltd.

Femco
leased the land and buildings from Chiayi Sports Equipment Co., Ltd. (“ Chiayi”) for manufacturing use. Femco entered into
a lease agreement with Chiayi on November 1, 2018, which provides that Femco shall during 2021 pay Chiayi on a monthly basis NT$450,000
($14,696.28) in rent (tax excluded). Femco and Chiayi renewed and extended the lease on November 1, 2021, which provides that Femco
shall pay Chiayi on a monthly basis NT$450,000 ($14,696.28) in rent (tax excluded). Femco and Chiayi entered into agreement in July of
2023 for Femco to purchase from Chiayi the subject land and buildings for a consideration of NT$296,000,000 ($9,666,884), including tax
of NT 415,000 ($14,728.94). Therefore, the ongoing lease was terminated on September 20, 2023. Since January 1, 2021, the aggregate
amount of all periodic payments or installments due and payable under the lease with Chiayi is NT$14,685,000 ($479,588.50) (tax excluded).
David Chuang is immediate family member of Chairman of the board of Chiayi.

In
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