FST Corp. Celebrates Successful Business Combination and Growth

FST Corp. and Chenghe Acquisition I Co. Finalize Strategic Merger

In a move poised to transform the landscape of golf equipment manufacturing, Femco Steel Technology Co., Ltd. (“FST”) has successfully finalised its business combination with Chenghe Acquisition I Co. This significant milestone marks the dawn of a new era for FST, a notable player in the golf shaft manufacturing arena.

Significance of the Business Combination

With the merger completed, FST Corp. will commence trading on the Nasdaq Global Market under the ticker symbol “KBSX”. This transition signals not just a change in name but a strategic advancement that aims to elevate the company's visibility and market influence in the global golf products industry. The merger has been meticulously planned and executed, with shareholders at Chenghe expressing overwhelming support during the extraordinary general meeting held in late 2024.

The Vision of FST's Leadership

David Chuang, the Chief Executive Officer and Chairman of the Board of FST, expressed his enthusiasm regarding the completion of this business combination. In his statement, he highlighted the pathway this merger provides toward accelerated growth and enhanced operational capabilities. Chuang emphasized that the merger is a crucial step for FST in capturing larger market shares within the competitive golf equipment segment, stating that this will enable them to serve their customers better and deliver exceptional products backed by cutting-edge technology.

Strategic Partnerships and Expert Advisors

The success of this merger is also attributed to the diligent work of a dedicated team of advisors. Revere Securities LLC provided crucial financial and capital markets insight for Chenghe, while Geneva Capital Pte. Ltd. lent its expertise to FST throughout the process. Additionally, respected law firms including White & Case LLP and Lee and Li, Attorneys-at-Law, ensured all legal affairs were managed with utmost professionalism, providing necessary guidance to ensure compliance and strategic positioning.

FST's Commitment to Quality and Innovation

FST is recognized for its deep commitment to innovation and quality in the production of golf shafts. Based in Taiwan, the company continually invests in research and development to create products that meet the demanding standards of golfers worldwide. Their proprietary brand, KBS, has gained traction among PGA professionals, becoming a trusted name in the golfing community. This merger is anticipated to bolster their capabilities in producing advanced golf shafts that are both innovative and high in quality.

A Bright Future Post-Merger

As FST Corp. transitions into its new structure, the leadership believes that the enhanced visibility and network afforded by being a publicly traded entity will open doors to new opportunities. Plans for future growth include expanding their product lines and enhancing their manufacturing processes to keep pace with evolving market demands. The focus on building long-term value for shareholders remains at the forefront of the company's strategy.

Investor Relations and Media Outreach

For interested investors and media, FST Corp. has designated representatives ready to engage with the community. Kathee Lin is the key contact for investor inquiries, while Bob Lau will handle media communications. Both representatives are committed to providing transparent updates about the company’s progress and strategic initiatives moving forward.

Frequently Asked Questions

What is the significance of the merger between FST and Chenghe?

The merger allows FST to leverage greater market resources, enhance its product offerings, and increase its visibility in the global golfing community by being publicly traded under the ticker symbol KBSX.

How does FST ensure the quality of its golf shafts?

FST invests significantly in research and development, adhering to rigorous quality control measures to ensure their golf shafts meet professional standards preferred by PGA golfers.

Who were the key advisors in the merger process?

Revere Securities LLC and Geneva Capital Pte. Ltd. played vital roles as financial advisors, while multiple law firms assisted with legal compliance and strategic planning throughout the merger.

What does the future hold for FST after this merger?

FST plans to expand its product lines, enhance its manufacturing capabilities, and continuously innovate in response to market needs, all aimed at delivering long-term shareholder value.

How can investors contact FST Corp. for inquiries?

Investors can reach out to Kathee Lin via her email for any inquiries related to FST's performance and investor relations.

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