Company: FSTWF
Filing Date: 2025-02-28
Form Type: F-1
Source: 0001213900-25-018264
Chunk: 71

Company: FST Corp.
Filing Date: 2025-02-28
Form: F-1
Chunk 71
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 notes receivable in the year ended December 31, 2023. Cash Flows Used in Investing Activities Cash used in investing activities primarily relate to purchase of property, plant, and equipment. Net cash used in investing activities was $11,592,307 for the year ended December 31, 2023 and net cash used in investing activities was $2,458,553 for the year ended December 31, 2022. The increase was primarily due to increased investment in land and buildings during the year ended December 31, 2023. 45

Cash Flows from Financing Activities Net cash generated from financing activities was $11,302,462 for the year ended December 31, 2023, which primarily consists of the proceeds of $38,752,418 from bank borrowings and partially offset by the repayment of $24,734,659 of bank borrowings. Net cash generated from financing activities was $2,297,238 for the year ended December 31, 2022, which primarily consists of the proceeds of $31,983,022 from short -termloans and partially offset by the repayment of $29,404,105 of short -termborrowings. Material Contractual Obligations and Commitments For a discussion of material contractual obligations and commitments, see Note 16 “Commitments and Contingencies” to the Group’s consolidated financial statements and Note 16 “Commitments and Contingencies” to the Group’s unaudited condensed consolidated financial statements included in this Prospectus. As of June 30, 2024, besides the significant unrecognized contractual commitments, the repayments of banks loans and payments of operating lease agreements disclosed in the Group’s consolidated financial statements or discussed below, the Group does not have other short -termand long -termmaterial cash requirements. As of June 30, 2024 and December 31, 2023, short -termbank loans which due within one year amounted to $13,869,220 and $14,236,270, respectively, the long -termloans amounted to $8,596,643 and $8,597,848, respectively. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. When necessary, the Group may turn to bank and other financial institutions to take loans to meet liquidity shortages. The details maturity date of each bank loan please refer to Note 11 “Borrowings” to the Group’s unaudited condensed consolidated financial statements included