Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 461

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 461
---
 |     |                   724,221 |   |     |    637,129 |   |     |    (87,093 | ) |     |      (12 | )% |
| Expenses:                       |     |                           |   |     |            |   |     |            |   |     |          |    |
| Administrative expenses         |     |                (5,529,717 | ) |     | (9,411,616 | ) |     | (3,881,900 | ) |     |       70 | %  |
| Operating losses                |     |                (4,805,495 | ) |     | (8,774,488 | ) |     | (3,968,992 | ) |     |       83 | %  |
| Non-operating income (loss)     |     |                  (303,401 | ) |     |   (140,373 | ) |     |    163,028 |   |     |      (54 | )% |
| Profit (loss) before income tax |     |                (5,108,897 | ) |     | (8,914,861 | ) |     | (3,805,964 | ) |     |       74 | %  |

Revenue Revenue increased by KRW 433 million reflecting the increased revenues of OSR’s portfolio company, RMC. Since RMC is OSR’s only revenue producing subsidiary, with the termination of RMC’s distribution agreement with Penumbra for its neuro intervention medical device equipment, OSR expects its revenue to decrease substantially in 2025 and possibly longer, until RMC can replace sales of Penumbra’s products by increasing sales of products from other manufacturers. Cost of Revenue and Gross Margin Cost of revenue increased by KRW 521 million. The increase was due to increased costs relating to the foreign exchange rate, as RMC is required to pay its suppliers in U.S. dollars, which increased in value relative to the KRW during 2024. Research and Development Expenses Research and development expenses decreased by KRW 55,245,928, or 31%, from KRW 179,364,186 for the six months ended June 30, 2023 to KRW 124,118,258 for the six months ended June 30, 2024. This was primarily due to cash constraints at the Company’s subsidiaries, Darnatein and Vaximm. Administrative Expenses Administrative expenses increased