Company: FSTWF
Filing Date: 2025-07-25
Form Type: 424B3
Source: 0001213900-25-067790
Chunk: 169

Company: FST Corp.
Filing Date: 2025-07-25
Form: 424B3
Chunk 169
---
 |   |      401,110 |     |   |       81,537 |
| Total cash, cash equivalents and restricted cash, beginning of the year |     | $ |    9,305,728 |     | $ |   20,821,912 |

|                                                                   |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:------------------------------------------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Cash and cash equivalents, end of the year                        |     | $ |    5,098,420 |     | $ |    8,904,618 |
| Restricted cash, end of the period                                |     |   |      203,779 |     |   |      401,110 |
| Total cash, cash equivalents and restricted cash, end of the year |     | $ |    5,302,199 |     | $ |    9,305,728 |

The accompanying notes are an integral part of these consolidated financial statements.

F-9 FST Corp. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. dollars, except for share and per share data, or otherwise noted) 1.ORGANIZATION AND PRINCIPAL ACTIVITIES FST Corp. (the “Company”) was incorporated under the laws of the Cayman Islands on November 24, 2023. The Company and its subsidiary, FST Merger Ltd., Femco Steel Technology Co., Ltd. (“FST”) and FST’s subsidiaries (collectively, the “Group”) are principally engaged in developing, producing and selling of golf shafts and other sports equipment. FST Merger Ltd., wholly owned by the Company, was incorporated under the laws of the Cayman Islands on November 27, 2023, was formed for the purpose of effecting a merger between Chenghe Acquisition I Co. (“Chenghe”), FST and certain other affiliated entities through a series of transactions (the “Business Combination”) pursuant to the definitive agreement entered into on December 22, 2023. FST, 99.34% owned by the Company, was incorporated under the law of Taiwan with limited liability on May 18, 1976. FST America, Inc., wholly owned by FST, was incorporated on September 9, 2015 in Colorado, US. FST Japan