Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 105

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 7
Chunk 105
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ition, Chiayi has paid utility bills on behalf of the Company. The yearly utility payments advanced by Chiayi on the Company’s
behalf, and the corresponding amounts of accounts payable of the Company to Chiayi for such payments, are in the following amounts respectively:
For 2021, advance of NT$697,840 ($22,790.33) and year-end account payable of NT$55,526 ($1,813.39); for 2022, advance of NT$677,758
($22,134.49), and year-end account payable of NT$48,532 ($1,584.98); for 2023, advance of NT$753,850 ($24,619.53), and year-end account
payable of NT$50,315 ($1,643.21); and for 2024, advance of NT$110,182 ($3,360.23), with the account payable as of December 31, 2024 standing
at NT$5,938 ($181.08).

Company
Shareholder Support Agreement

Concurrently
with the execution of the Business Combination Agreement, SPAC, FST, Femco, certain shareholders of FST listed thereto and certain shareholders
of Femco listed thereto entered into FST Support Agreement (the “ Support Agreement”), pursuant to which each signatory shareholders
of FST and Femco has agreed to, among other things, vote to the transactions contemplated under the Business Combination Agreement, and
to not transfer any Subject Shares (as defined therein) until termination of the Support Agreement.

Factory
Automation Technology Co., Ltd

FST
owns 6.35%, and Far East owns 51.59% of Factory Automation Technology Co., Ltd. (“ Factory Automation”). FST provides software
services to Factory Automation and purchases machinery from Factory Automation. In 2021, an aggregate amount of NT$7,408,200 ($241,939.91)
was incurred by Factory Automation for software service fees payable to FST, and machinery in the aggregate amount of NT$23,978,960 ($783,114.30)
was purchased by FST from Factory Automation. As of December 31, 2021, an amount of NT$2,592,872 ($84,679.03) was due and payable
to FST from Factory Automation for software service fees charged, and an aggregate amount of NT$12,233,688 ($399,532.59)