Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 678

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 678
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 statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. Shinhan Accounting Corporation We have served as the Company’s auditor since 2023. Seoul, Korea
February 7, 2024

F-137 Darnatein Co., Ltd. Financial statements
for the years ended December 31, 2022 and 2021 “The accompanying financial statements, including all footnotes and disclosures,
have been prepared by, and are the responsibility of, the Company.” Choe, Senyon Chief Executive Officer Darnatein Co., Ltd. F-138

| Darnatein Co., Ltd.              
 Statements of financial position 
 As at December 31, 2022 and 2021 |
|:---------------------------------|
| (Korean won in unit)             |

|                                   |     |     Notes |     |         December 31, 
                 2022 |   |     |        December 31, 
                2021 |   |
|:----------------------------------|:----|----------:|:----|---------------------:|:--|:----|--------------------:|:--|
| Assets                            |     |           |     |                      |   |     |                     |   |
| Non-current assets                |     |           |     |                      |   |     |                     |   |
| Property, plant and equipment     |     |        11 |     | ₩         16,151,218 |   |     | ₩        30,866,185 |   |
| Intangible assets                 |     |        12 |     |          651,715,348 |   |     |         900,740,220 |   |
| Right-of-use assets               |     |        13 |     |          107,961,362 |   |     |         135,563,906 |   |
| Non-current financial assets      |     |       6,9 |     |            1,420,000 |   |     |           2,860,000 |   |
|                                   |     |           |     |          777,247,928 |