Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 107

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 107
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 customization and fitting services for individual customers, and are equipped with simulation tracking technology, software tools, and data recording systems. By quantifying the performance of golf clubs used on courses and analyzing consumer preferences and swing performance on -site, the Company is able to recommend suitable golf equipment for a wide variety of golfer types. This approach validates customer needs, enhances brand awareness and loyalty, and serves as a valuable reference for product development or improvement, thereby sustaining the Company’s product competitiveness. Customers serviced by the Company can broadly be categorized into four general types: golf equipment companies, OEM companies that manufacture golf equipment for golf equipment brand companies, and golf equipment distributors, as well as individual golf customers serviced by the Company on its website and through KBS Golf Experience Stores. Currently, the Company has its own field sales representatives in Taiwan, the United States and Japan, primarily covering major corporate clients. The Company believes that its sales representatives are an integral part of our brand image. They are tasked with key aspects of customer service, including lead discovery, client management, merchandise display, product recommendation, and after -salesreturn visits. The Company’s field sales agents also cover corporate customers including major international golf club brands, other OEMs, and national distributors. They are tasked with key aspects of sales generation activities, including developing relationship with potential clients, tracking demands of existing clients, attending trade conference to boost brand awareness, hosting event to generate sales leads. As of December 31, 2023, the Company employed 32 sales representatives worldwide focused on the sale of shafts. 69

Research and Development The 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 19 full -timeemployees as of December 31, 2023, 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