Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 142

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 142
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 of the Exchange Act, with respect to their purchase and sale of our shares. All information that we have filed with the SEC can be
accessed through the SEC’s website at www. sec. gov.

In accordance with Nasdaq
Stock Market Rule 5250(d), we will post this annual report on Form 20-F on our website: https://fstcorp. com/. The information on, or that
can be accessed through, our website is not part of this annual report. In addition, we will provide hardcopies of our annual report free
of charge to shareholders upon request.

With respect to references
made in this annual report to any contract or other document of our company, such references are not necessarily complete, and you should
refer to the exhibits attached or incorporated by reference to this Annual Report for copies of the actual contract or document.

I. Subsidiary Information

Not applicable.

J. Annual Report to Security Holders

Not applicable.

ITEM 11. QUANTITATIVE AND QUALITATIVE
DISCLOSURES ABOUT MARKET RISKS

The Group is exposed to various
risks in relation to financial instruments. The main types of risks are foreign currency risk and interest rate risk. Furthermore, the
Group does not have foreign-exchange hedging contracts in place with respect to all currencies in which it does business.

Foreign Currency Risk

The Group’s results of
operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates. FST Taiwan and the Group’s
subsidiary in Japan may be exposed to significant currency risks from exchange rate fluctuations and the degree of foreign exchange rates
between the U. S. Dollar and the TWD, and between the U. S. Dollar and the JPY. As of December 31, 2024 and 2023, the
TWD denominated cash and cash equivalents and restricted cash amounted to $1,806,939 and $1,227,189, respectively. As of December 31,
2024 and 2023, the JPY denominated cash and cash equivalents amounted to $169,939 and $105,373, respectively.

Interest Rates Risk

The Group is subject to interest
rate risk. Bank interest bearing loans are charged at variable interest rates within the reporting period. The Group is subject to the
risk of adverse changes in the interest rates charged by the banks when these loans are refinanced.

Credit Risk

Credit risk refers to the risk
that the counterparty will