Company: FSTWF
Filing Date: 2025-07-22
Form Type: F-1/A
Source: 0001213900-25-066660
Chunk: 198

Company: FST Corp.
Filing Date: 2025-07-22
Form: F-1/A
Chunk 198
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 interest and penalties) based on the technical merits, and measure the unrecognized tax benefits associated with the tax positions. As of December 31, 2024 and 2023, the Group did not have any significant unrecognized tax benefits. The Group did not incur interest and penalties related to income taxes for the years ended December 31, 2024 and 2023.

F-30

FST Corp.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(In U.S. dollars, except for share and per share data, or otherwise noted)

13.RELATED PARTY TRANSACTIONS

The following is a list of related parties with whom the Group has significant transactions:

| No. |     | Name of Related Parties                |     | Relationship with the Group                                             |
| a   |     | Factory Automation Technology Co., Ltd |     | 3.66% owned by the Group                                                |
| b   |     | Far East Machinery Co., Ltd            |     | A principal shareholder of the Group                                    |
| c   |     | David Chuang                           |     | The Chairman of the Board of the Group                                  |
| d   |     | Chiayi Sports Equipment Co., Ltd       |     | David Chuang is an immediate family member of the Chairman of the Board |
| e   |     | Peko, LLC.                             |     | David Chuang is the owner of Peko, LLC.                                 |

Amounts due from related parties

Amounts due from related parties consisted of the following for the periods indicated:

|                                           |     | As of December 31, |   2024 |     |   |   2023 |
|:------------------------------------------|:----|:-------------------|-------:|:----|:--|-------:|
| Factory Automation Technology Co., Ltd(1) |     | $                  | 61,370 |     | $ | 14,132 |
| Total                                     |     | $                  | 61,370 |     | $ | 14,132 |

____________

(1)

Amounts due to related parties

Amounts due to related parties consisted of the following for the periods indicated:

|                                     |     | As of December 31, |    2024 |     |   |    2023 |
|:------------------------------------|:----|:-------------------|--------:|:----|:--|--------:|
| Far East Machinery Co., Ltd(1)      |     | $                  | 119