Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 462

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 462
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 by KRW 3,882 million, or 70%, from KRW 5,530 million for the six months ended June 30, 2023, to KRW 9,412 million for the six months ended June 30, 2024. The increase was primarily attributable to the amortization of intangible assets following the acquisition of Darnatein, which began to be recognized in the second half of 2023, and, to a lesser extent, an increase in accounting/finance expenses. The amortization of intangible assets increased 92%, from KRW 4,007 million for the six months ended June 30, 2023, to KRW 7,695 million for the six months ended June 30, 2024, while accounting/finance expenses increased by 174%, from KRW 102 million to KRW 279 million. Those increases offset a 94% decrease in legal expenses, which decreased from approximately KRW 140 million to KRW 8 million for the six months ended June 30, 2024 and June 30, 2023, respectively, and decreases in certain other smaller administrative expenses.

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Non-Operating Income (Loss) Finance income decreased from KRW 68 million in the first half of 2023 to KRW 15 million in the first half of 2024. Finance costs (interest expense) decreased by KRW 304 million, or 89%, from KRW 339 million to KRW 36 million as a result of reduction in outstanding debt of OSR Holdings and its subsidiaries. Other income (gains on foreign currency exchange and foreign currency translation) increased by KRW 40 million, from KRW 32 million to KRW 71 million. Other costs increased by KRW 127 million, from KRW 63 million to KRW 190 million (losses on foreign currency translation and foreign currency exchange). Profit (loss) before income tax Loss before income tax increased by KRW 3.8 billion, or 74%, from 5.1 billion for the six months ended June 30, 2023 to KRW 8.9 billion, reflecting significantly higher Administrative expenses, and, to a lesser extent, reduced gross profits from operations. Comparison of the Years Ended December 31, 2022 and 2023 The following table presents OSR Holdings’ statements of operations for the years ended December 31, 2022 and 2023, and