Company: FSTWF
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-044386
Chunk: 188

Company: FST Corp.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 16
Chunk 188
---
31, 2024, the weighted average
remaining lease term was7.32years, and the weighted average discount rate was4.91% for the Group’s operating leases.

The following table summarizes the maturity of
lease liabilities under operating leases as of December 31, 2024:

                                         Operating                 
                                         Leases                    
  For the years ending December 31,                                
  2025                                   $              2,299,231  
  2026                                                  1,303,612  
  2027                                                    588,220  
  2028                                                    333,149  
  2029 and thereafter                                   2,794,794  
  Total lease payments                                  7,319,006  
  Less: imputed interest                                1,347,518  
  Total                                                 5,971,488  
  Less: current portion                                 2,060,022  
  Non-current portion                    $              3,911,466  

F-23

FST Corp.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(In U. S. dollars, except for share and per
share data, or otherwise noted)

11. BORROWINGS

As of December 31, 2024 and 2023, summary of the
borrowings is as following:

  Bank and other                            Maturity                                                                                     
  financial                                                                                                                              
  institution                                                                                                                            
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Bank SinoPac(1)                 2.61      November 2027         951,765      326,321         625,444        -               1,368,659  
  Bank SinoPac(1)                 2.61      December 2028         777,066      194,267         582,799        557,479         482,691    
  Bank SinoPac(1)                 2.19      January 2025          457,457      457,457         -              -               -          
  Bank SinoPac(1)                 2.19      February 2025       2,192,112      2,192,112       -              -               -          
  Bank SinoPac(1)                 2.19      June 2025             245,593      245,593         -              -               -