Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 197

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 197
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:---------------------------------------------------------------|:----|-----------:|:--|:----|-------------:|:--|
|                                                                |     | -Unaudited |   |     |              |   |
| Operating lease right-of-use assets                            |     |  7,517,345 |   |     |   11,372,614 |   |
| Operating lease right-of-use assets – accumulated amortization |     | (2,214,880 | ) |     |   (4,434,132 | ) |
| Operating lease right-of-use assets, net                       |     |  5,302,465 |   |     |    6,938,482 |   |
| Operating lease liabilities, current                           |     |  1,681,770 |   |     |    2,172,368 |   |
| Operating lease liabilities, non-current                       |     |  4,164,447 |   |     |    5,255,281 |   |
| Total operating lease liabilities                              |     |  5,846,217 |   |     |    7,427,649 |   |

A summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive loss is as follows:

|                                                           |     | For the Six Months Ended 
 June 30,                 
 2024                     
 (Unaudited)              |           |     | 2023        
 (Unaudited) |           |
|:----------------------------------------------------------|:----|:-------------------------|----------:|:----|:------------|----------:|
| Operating leases cost excluding short-term rental expense |     | $                        | 1,221,611 |     | $           | 1,240,927 |
| Short-term lease cost                                     |     |                          |   518,983 |     |             |   110,590 |
| Total                                                     |     | $                        | 1,740,594 |     | $           | 1,351,517 |

F-37

FEMCO STEEL TECHNOLOGY CO., LTD.
NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In U.S. dollars, except for share and per share data, or otherwise noted) 10.LEASES (cont.) The Group’s lease agreements do not have a discount rate that is readily determinable. The incremental borrowing rate is determined at lease commencement or lease modification and represents the rate of interest the