Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 194

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 194
---
 the Group satisfies the performance obligation. The Group derives its revenues principally from sales of golf club shafts and sales of sports accessories, food and beverage. Revenue recognition policies for each type of revenue stream are as follows: Sales of golf club shafts The Group manufactures golf clubs and sells them to sports brand manufacturers and distributors. The revenue is recognized at a point in time when the Group satisfies the performance obligation by transferring promised product to a customer upon acceptance by customers. The Group recognizes the accounts receivable at the time of delivery of the goods. Sales of sports accessories, food, beverage and others The Group is engaged in wholesale of alcoholic beverages, sale of sporting accessories in the retail market and the provision of catering services. Revenue is recognized when the product is physically delivered to and accepted by the customer, and the consideration is paid immediately when the customer purchases the product. The contract payment is not subject to any variable consideration, refund, cancellation or termination provision. No significant financing component, noncash payment identified in the arrangements with customers. Revenue by categories The following table disaggregates the Group’s revenue categories for the six months ended June 30, 2024 and 2023:

|                                                        |     | For the Six Months Ended 
 June 30,                 
 2024                     
 (Unaudited)              |            |     | 2023        
 (Unaudited) |            |
|:-------------------------------------------------------|:----|:-------------------------|-----------:|:----|:------------|-----------:|
| Sales of golf club shafts                              |     | $                        | 17,216,880 |     | $           | 12,178,015 |
| Sales of sports accessories, food, beverage and others |     |                          |    612,865 |     |             |    447,203 |
| Total revenues                                         |     | $                        | 17,829,745 |     | $           | 12,625,218 |

F-33

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) 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Revenue by divisions The following table sets forth disaggregation of revenue by customer location.

| Primary geographical markets |     | For the Six Months Ended 
 June 30,                 
 2024                     
 (Unaudited)              |