Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 808

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7
Chunk 808
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 detected all our control deficiencies and instances of fraud, if any. The design of disclosure controls and procedures also is based partly on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

Management’s Report on Internal Controls Over Financial Reporting

This Annual Report on Form 10-K does not include a report of management’s assessment regarding internal control over financial reporting or an attestation report of our independent registered public accounting firm due to a transition period established by rules of the SEC for newly public companies.

Changes in Internal Control over Financial Reporting

During the fourth calendar
quarter of the year-ended December 31, 2024, the Company has continued to make changes in its internal control over financial reporting
to enhance our processes to identify and appropriately apply applicable accounting requirements to better evaluate and understand the
nuances of the complex accounting standards that apply to our consolidated financial statements, including providing enhanced access to
accounting literature, research materials and documents and increased communication among our personnel and third-party professionals
with whom we consult regarding complex accounting applications. The Company can offer no assurance that these changes will ultimately
have the intended effects.

Item 9B. Other Information

Insider
Trading Arrangements

No director or officer of the Company adopted or terminated any
contract, instruction or written plan for the purchase or sale of securities of the registrant intended to satisfy
the affirmative defense conditions of Rule 10b5-1(c); or (ii) any “non-Rule 10b5-1 trading arrangement” as defined in paragraph
(c) of Item 408 of Regulation S-K.

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Not applicable.

78

PART III

Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.

Our current directors and executive officers are as follows:

    Name
     
    Age
     
    Title 
  
    Matthew Chen
     
    52
     
    Chairman and Chief Executive Officer 
  
    Luhuan Zhong
     
    35
     
    Chief Financial Officer 
  
    Shan Cui
     
    51
     
    Director 
  
    Pai Liu
     
    38
     
    Director 
  
    Wen He
     
    58
     
    Director 

Matthew Chen. Mr. Chen age 52