Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 183

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 183
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 in the provision for doubtful accounts are as follows:

|                                      |     | For the Years Ended 
 December 31,        |     2023 |   |     |   |    2022 |   |
|:-------------------------------------|:----|:--------------------|---------:|:--|:----|:--|--------:|:--|
| Balance at the beginning of the year |     | $                   |  400,797 |   |     | $ |  37,616 |   |
| Additions                            |     |                     |    1,652 |   |     |   | 363,248 |   |
| Reverse                              |     |                     | (154,929 | ) |     |   |       — |   |
| Exchange rate difference             |     |                     |   (1,632 | ) |     |   |     (67 | ) |
| Balance at the end of the year       |     | $                   |  245,888 |   |     | $ | 400,797 |   |

4.INVENTORIES, NET Inventories consisted of the following:

|                               |     | As of December 31, |       2023 |   |     |   |      2022 |   |
|:------------------------------|:----|:-------------------|-----------:|:--|:----|:--|----------:|:--|
| Raw material                  |     | $                  |  1,349,217 |   |     | $ | 1,183,665 |   |
| Work-in-process               |     |                    |    224,913 |   |     |   |   289,376 |   |
| Finished goods                |     |                    | 14,531,636 |   |     |   | 7,883,576 |   |
| Inventories                   |     |                    | 16,105,766 |   |     |   | 9,356,617 |   |
| Inventory valuation allowance |     |                    |   (900,142 | ) |     |   |  (704,802 | ) |
| Inventories, net              |     | $                  | 15,205,624 |   |     | $ | 8,651,815 |   |

F-17

FEMCO STEEL TECHNOLOGY CO., LTD.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S.