Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 211

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 211
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280 | ) |     | $             | (8,469,955 | ) |

The accompanying notes are an integral part of the financial statements.

F-39

FST LTD.
(FORMERLY CHENGHE ACQUISITION I CO.)
STATEMENTS OF CASH FLOWS

|                                                                                                         |     | For the Year Ended December 31, 
 2024                            |            |   |     | 2023 |             |   |
|:--------------------------------------------------------------------------------------------------------|:----|:--------------------------------|-----------:|:--|:----|:-----|------------:|:--|
| Cash flows from operating activities                                                                    |     |                                 |            |   |     |      |             |   |
| Net (loss) income                                                                                       |     | $                               | (3,318,199 | ) |     | $    |     425,912 |   |
| Adjustments to reconcile net (loss) income to net cash used in operating activities:                    |     |                                 |            |   |     |      |             |   |
| Interest earned on marketable securities held in Trust Account                                          |     |                                 | (1,784,287 | ) |     |      |  (3,650,731 | ) |
| Other income attributable to derecognition of deferred underwriting fee allocated to offering costs     |     |                                 |          — |   |     |      |    (186,550 | ) |
| Expense recognized on transferring of 2,650,000 Class B ordinary shares from Old Sponsor to New Sponsor |     |                                 |          — |   |     |      |   2,851,750 |   |
| Unrealized loss (gain) on change in fair value of warrants                                              |     |                                 |    459,566 |   |     |      |  (1,584,000 | ) |
| Unrealized loss on change in fair value of OET derivative liability                                     |     |                                 |    914,764 |   |     |      |           — |   |
| Financing costs                                                                                         |     |                                 |  1,179,000 |   |     |      |           — |   |
| Changes in operating assets and liabilities:                                                            |     |                                 |            |   |     |      |             |   |
| Prepaid expenses                                                                                        |     |                                 |      3,640 |   |     |      |     167,440 |   |
| Accounts