Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 194

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 194
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,132  

  (1)      The balance mainly represented software service fee charged and prepayment for machinery to the related  

F-28

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 (cont.)

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)           $                       119,578      $         241,324  
  Chiayi Sports Equipment Co., Ltd (2)                                  181                  1,643  
  Peko, LLC                                                               -                 32,500  
  Total                                     $                       119,759      $         275,467  

  (1)      The balance mainly represented lease expense and utility expense  

  (2)      The balance mainly represented utility expense payable and purchase  

  (2)      The balance mainly represented lease expense payable to the  

Related party transactions

Material related party transactions consisted
of the following for the periods indicated:

  Related party transactions                   For the years ended                                        
                                               December 31,                                               
  Nature                                       2024                                  2023                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────
  Factory Automation Technology Co., Ltd.                                                                 
  Software service fee                         $                        235,769      $           219,143  
  Purchase of machinery                        $                        698,600      $           114,597  
  Far East Machinery Co., Ltd                                                                             
  Software service fee                         $                         12,919      $                 -  
  Lease expense                                $                        747,515      $           770,403  
  Utility expense                              $                        734,359      $           765,801  
  Peko, LLC                                                                                               
  Lease expense                                $                        390,000      $           360,000  
  Chiayi Sports Equipment Co., Ltd                                                                        
  Lease expense                                $                              -      $           124,709  
  Purchase of land and buildings               $                              -      $         9,488,314  

F-29

FST Corp.

NOTES TO CONSOLIDATED FIN