Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 101

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 101
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 core technologies powering the Company’s products result from the Company’s deep expertise and sustained investment in golf club shaft R&D. The Company prioritizes internal innovation, maintaining full control over its proprietary intellectual property, and reducing reliance on external R&D collaborations. Leveraging Expertise for High-Performance Shafts The Company’s entry into golf club manufacturing stems from its established expertise in high -precisionmachining and metalworking, developed within the existing machinery and metal materials business of its major shareholder, Far East Machinery Co., Ltd. This foundational competence translates into a strategic focus on R&D and innovation in metalworking. The Company has dedicated substantial resources to golf -specificproduct development. The Company employs a dedicated R&D team, which had 21 full -timeemployees as of the date of this prospectus, focusing on innovation in shaft design, material composition and manufacturing process. In addition, the shaft design and development process is oversaw by Kim Braly, head of the Design Department of FST America, Inc. (“ FST America”), who provides the R&D team with valuable insights as a veteran designer. Furthermore, the Company collects feedbacks from the PGA players who uses KBS shafts in their competitions, and tracks customer preferences through online orders and in -personcustomer fittings at KBS Golf Experience stores. The sales department analyses the data and informs the R&D department any insights generated from data analysis and direct feedbacks, to ensure new products is designed to meet customer demands. This multi -prongedapproach, focusing on internal technological expertise, guidance from the industry veteran, and player -driveninsights, has resulted in the Company: •having the capability of manufacturing high -performanceclub shafts recognized for their quality and performance; •becoming a trusted partner for several leading international golf brands; •earning widespread acclaim for the KBS brand golf club shafts from PGA professionals and amateur players alike; •maintaining a disciplined product launch schedule. Starting from 2017, with the exception of 2022 due to the impacts of COVID -19, the Company has launched one or more new KBS shaft series on an annual basis, which help enrich the product portfolio and maintain the brand awareness. By leveraging its proven capabilities and unwavering commitment to R&D, the Company is able to maintain and solidify its position as a leading manufacturer of high -performancegolf club shafts in the global market. Results The Company’s R&D results for the four most recent fiscal years were as follows:

| Year |     | Specific R&D