Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 620

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 620
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 control over the joint venture, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate or joint venture upon loss of significant influence or joint control and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss.

F-58

2. Significant accounting policies (cont.) 2.6 Foreign currency translation Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which each entity operates (the “functional currency”). The consolidated financial statements are presented in Korean won, which is the Parent’s functional and presentation currency. Foreign currency transactions Foreign currency transactions are translated into functional currency units using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at period -endexchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit or loss. Foreign operations The assets and liabilities of foreign operations are translated into functional currency units using the exchange rates at the reporting date. The revenues and expenses of foreign operations are translated into functional currency units using the average exchange rates, which approximate the rates at the dates of the transactions, for the period. All resulting foreign exchange differences are recognized in OCI through the foreign currency reserve in equity. The foreign currency reserve is recognized in profit or loss when the foreign operation or net investment is disposed of. 2.7 Cash and cash equivalents Cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short -term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the statement of cash flows presentation purposes, cash and cash equivalents also includes bank overdrafts, which are shown within borrowings in current liabilities on the statements of financial position. 2.8 Financial instruments A financial instrument is any contract that allows a financial asset to be created for one of the parties to the transaction and a financial liability or equity instrument to be created for the counterparty. The Group classifies financial assets at subsequent initial recognition as financial assets at amortized cost, financial assets at fair value through other comprehensive income (“FVOCI”) and financial assets at fair value through profit or loss (“FVTPL”). Financial assets Initial recognition and measurement The classification of a financial asset at initial recognition depends on the nature of the contractual cash flows of the financial asset and the business