Company: FSTWF
Filing Date: 2025-07-08
Form Type: F-1/A
Source: 0001213900-25-061884
Chunk: 59

Company: FST Corp.
Filing Date: 2025-07-08
Form: F-1/A
Chunk 59
---
 maintain its competitive positioning in any product sector. If the Group’s competition positioning deteriorates, the results of operation, business and financial condition of the Group will be materially and adversely affected. Basis of Presentation The Group’s consolidated financial statements have been prepared in accordance with U.S. GAAP. All intercompany accounts and transactions have been eliminated on consolidation. For the purpose of presenting consolidated financial statements, its assets and liabilities and its foreign operations (including subsidiaries in other countries that use currencies which are different from our functional currency) are translated into USD using exchange rates prevailing at the end of each reporting period. Income and expense items are translated at the average exchange rates for the period. Exchange differences arising, if any, are recognized in other comprehensive income and accumulated in equity. Components of Results of Operations Revenue The Group generates revenue primarily from the sales of golf shafts, sales of sports accessories, food and beverage and software service. The total revenue for the year ended December 31, 2023 was $28,730,549, including revenue generated from sales of golf shafts of $27,825,905, and sales of sports accessories, food and beverages of $904,644. The total revenue for the year ended December 31, 2024 was $36,499,644, including revenue generated from the sales of golf shafts of $35,315,363, sales of sports accessories, food and beverage of $935,593, and software service of $248,688. The table below sets forth the revenue contribution by types of products in the years ended December 31, 2024 and 2023:

|                                                | Year |         | December 31, 2024 |     |             |     |         | December 31, 2023 |     |             |
|:-----------------------------------------------|:-----|:--------|------------------:|:----|------------:|:----|:--------|------------------:|:----|------------:|
| Revenue Categories                             |      | Revenue 
 Amount  |                   |     |     Revenue 
 Proportion/ 
      Share, 
           % |     | Revenue 
 Amount  |                   |     |     Revenue 
 Proportion/ 
      Share, 
           % |
| Sales of golf shafts                           |      | $       |        35,315,363 |     |        96.8 |     | $       |        27,825,905 |     |        96.9 |
| Sales of sports accessories,