Company: OSRH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076461
Chunk: 19

Company: OSR Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 effective for the annual periods beginning
the year ended December 31, 2024, and for interim periods beginning January 1, 2025. Early adoption is permitted. Upon adoption,
this ASU should be applied retrospectively to all prior periods presented in the financial statements. The Group adopted this ASU
as of January 1, 2025 and there is not impact on the Group’s condensed consolidated financial statements.

r.Accounting pronouncements issued, but not adopted as of June 30, 2025

In October 2023,
the FASB issued ASU 2023-06, Disclosure Improvements – Codification Amendments in Response to the SEC’s Disclosure Update
and Simplification Initiative. The ASU modifies the disclosure or presentation requirements of a variety of Topics in the Codification
to align with the SEC’s regulations. The ASU also makes those requirements applicable to entities that were not previously subject
to the SEC’s requirements. The ASU is effective for the Company two years after the effective date to remove the related disclosure
from Regulation S-X or S-K. As of the date these financial statements have been made available for issuance, the SEC has not yet removed
any related disclosure. The Group does not expect the adoption of ASU 2023-06 to have a material effect on its condensed consolidated
financial statements.

In December 2023,
the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves the transparency
of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation
and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income
tax disclosures. This ASU will be effective for the annual periods beginning the year ended December 31, 2026. Early adoption
is permitted. Upon adoption, this ASU can be applied prospectively or retrospectively. The Group is currently evaluating the impact this
ASU will have on the Group’s consolidated financial statements.

12

(3)Critical accounting estimates and assumptions

The preparation of condensed consolidated
financial statements requires the Group to make estimates and assumptions concerning the future. Estimates and judgements are continually
evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable
under the circumstances. The resulting accounting