Company: FSTWF
Filing Date: 2025-07-22
Form Type: F-1/A
Source: 0001213900-25-066660
Chunk: 63

Company: FST Corp.
Filing Date: 2025-07-22
Form: F-1/A
Chunk 63
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 |     |        27,825,905 |     |        96.9 | % |     | 7,489,458 |     | 26.9 | % |
| Sales of sports accessories, food and beverage |     |           935,593 |     |         2.6 | % |     |           904,644 |     |         3.1 | % |     |    30,949 |     |  3.4 | % |
| Software service                               |     |           248,688 |     |         0.6 | % |     |                 — |     |         0.0 | % |     |   248,688 |     |    — |   |
| Total                                          |     |        36,499,644 |     |       100.0 | % |     |        28,730,549 |     |       100.0 | % |     | 7,769,095 |     | 27.0 | % |

Cost of Revenue Cost of revenue increased by $5,498,723 or 36.0%, from $15,287,532 for the year ended December31, 2023 to $20,786,255 for the year ended December31, 2024, which was in line with the increase in total revenue. Gross Profit The gross profit increased from $13,443,017 for the year ended December31, 2023 to $15,713,389 for the year ended December31, 2024, representing an increase of 16.9%. This increase was primarily attributable to an increase in total revenue. Gross profit margin decreased to 43.1% for the year ended December31, 2024, as compared to 46.8% for the year ended December31, 2023. The decrease of gross profit margin was primarily due to: (i) the product mix in fiscal year 2024 had lower unit sale price; (ii) the increase of unit cost in fiscal year 2024, since our production volume in 2024 was relatively low, resulting in higher fixed costs were allocated to the cost per unit of the product in 2024. Selling Expenses Selling expenses increased by $1,338,772, or 14.6%, from $9,194,267 for the year ended December31, 2023 to $10,533,039 for the year ended December31,