Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 186

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 186
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 etc. The Fund can be redeemed by the Group at early
notification before seven business days. Short-term investment was classified within Level 1 of the fair value hierarchy because
this was valued using quoted prices in active markets.

The Group considers the net asset value (“ NAV”)
of the Fund to be the best estimate of fair value as a practical expedient. The Group uses NAV per share to measure the fair value of
investments in funds.

Long-term investments

                                                            As of December 31,                                      
                                                            2024                                 2023               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Factory Automation Technology Co., Ltd. (1)               $                       268,271      $         195,555  
  Fully Compulsory Convertible Debentures(“ CCDs”) (2)                               76,605                -        
  Total                                                     $                       344,876      $         195,555  

  (1)      The Group held 3.66% of equity interest Factory Automation Technology                                                                         
           Co., Ltd., which was accounted for at fair value with all fair value changes recognized in profit or loss on long-term investment in          
           the consolidated statements of operations and comprehensive loss. Gain of $ 87,482 and loss of $ 466,262 were recognized for this investment  
           for the years ended December 31, 2024 and 2023, respectively. The investment is classified within Level 3 of the fair value hierarchy         
           due to the lack of quoted market prices and limited observable inputs.                                                                        
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

  (2)      The Group purchased CCDs issued by Indian Ale Ventures Private Limited during the year ended December 31, 2024 with the consideration of INR 6,250,000 (approximately $ 76,605). The investment w...  

9. ACCRUED EXPENSES AND OTHER
CURRENT LIABILITIES

Accrued expenses and other liabilities consisted
of the following:

                                        As of December 31,                                          
                                        2024                                   2023                 
 ────────────────────────────────────────────────────────────────────────────────────────────────────
  Accrued expense                       $                       2,325,766      $         2,260,997  
  Accrued payroll and welfare                                     204,973                  248,286