Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 91

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 91
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 and loyalty. The customers feedbacks serve as valuable reference points for future product development, which, in turn, helps sustain the competitiveness of the Company’s products. The Company believes that it will be able to continue to improve its competitive positioning by adhering closely to consumer demand, augmented by strong brand development efforts, a comprehensive product line, and online and offline sale touch points. According to Statista, the golf equipment market worldwide is projected to generate a revenue of $25billion in 2024 and this market segment is expected to experience an annual growth rate of 5.63%, as measured by the compound annual growth rate (CAGR) from 2024 to 2028. History as Taiwanese Public Company In Taiwan, only “public companies” are subject to the regulations of the Taiwan Securities and Exchange Act (TSEA). To become a public company, a company needs approval from the Securities and Futures Bureau (SFB) of Taiwan’s Financial Supervisory Commission. Public company status is a prerequisite for listing on a Taiwanese stock exchange. FST became a public company in Taiwan on January16, 2019, and its stock was subsequently registered on the Taiwan Stock Market for public trading on April3, 2019. 56 However, the TSEA and its related regulations create limitations. As long as FST remains a public company, its directors, officers, and major shareholders (holding 10% or more of the outstanding shares) cannot transfer all their shares to FST Corp, as required by the FST Restructuring plan. Therefore, if FST remained public, the FST Restructuring could not be completed. To facilitate the FST Restructuring, the board of directors of FST resolved on December15, 2023, to de -registerFST from the Taiwan Stock Market. The de -registrationwas approved by the Taipei Exchange and became effective on January4, 2024. The termination of FST’s Taiwan Public Company status was adopted by the shareholders’ resolution at FST’s extraordinary general meeting on February6, 2024. On February15, 2024, FST submitted an application to the SFB to terminate its Taiwan Public Company status. This termination was approved by the SFB and took effect on February27, 2024. Our Competitive Strengths Distinguished Proprietary KBS Brand The KBS brand has been widely accepted and well received by the golf players of all levels, from top professional players to recreational players. As of December 31,