Company: OSRH
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045947
Chunk: 15

Company: OSR Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
observable inputs for the asset or liability used to measure fair value to the
                                            extent that observable inputs are not available, thereby allowing for situations in which
                                            there is little, if any, market activity for the asset or liability at measurement date.

The
carrying value of cash and cash equivalents, trade and other receivables, inventories, prepaid expenses and other current and financial
assets, trade and other payable, short-term borrowing, current operating lease liabilities, and accrued expenses and other current liabilities
approximates their fair value due to the short-term nature of these instruments. The carrying amount reported in the condensed consolidated
balance sheets for notes payable to related party may differ from fair value since the interest rate is fixed.

10

p.Accounting
pronouncements adopted during 2024

In
October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities
from Contracts with Customers, which provides an exception to fair value measurement for contract assets and contract liabilities
related to revenue contracts acquired in a business combination. The ASU requires an entity (acquirer) to recognize and measure contract
assets and contract liabilities acquired in a business combination in accordance with Topic 606. At the acquisition date, an acquirer
should account for the related revenue contracts in accordance with Topic 606 as if it had originated the contracts. The ASU is effective
for the Company for annual and interim periods in fiscal years beginning after December 15, 2023. The ASU is applied to business combinations
occurring on or after the effective date. The Group adopted this ASU as of January 1, 2024 and there is no impact on the Group’s
condensed consolidated financial statements.

q.Accounting
pronouncements issued, but not adopted as of March 31, 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