Company: OSRH
Filing Date: 2025-06-23
Form Type: 424B3
Source: 0001213900-25-056351
Chunk: 97

Company: OSR Holdings, Inc.
Filing Date: 2025-06-23
Form: 424B3
Chunk 97
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 |   |     |          |    -71,116 |     |          |    -30 | % |
| Expenses:                                    |     |                              |            |   |     |      |             |   |     |          |            |     |          |        |   |
| Selling, general and administrative expenses |     |                              |  3,542,330 |   |     |      |   3,086,512 |   |     |          |   -455,818 |     |          |    -13 | % |
| Operating loss                               |     |                              | (3,302,528 | ) |     |      |  (2,917,826 | ) |     |          |    384,702 |     |          |    -12 | % |
| Other income (expense)                       |     |                              |    (52,834 | ) |     |      |  (8,474,988 | ) |     |          | -8,422,154 |     |          | 15,941 | % |
| Profit (loss) before income taxes            |     |                              | (3,355,362 | ) |     |      | (11,392,814 | ) |     |          | -8,037,452 |     |          |    240 | % |

Net Sales

Net sales for the three months ended March 31,
2025 decreased by $149 thousand, or 16%, compared to the same period in 2024, primarily due to the termination of relationship with a
key RMC customer Penumbra in late 2024. OSR Holdings expects revenue to decrease in 2025 and possibly longer until RMC can replace the
sales of Penumbra’s products by increasing other sales or securing additional products from other manufacturers.

Cost of Sales

Cost of sales for the three months ended March
31, 2025 decreased by $78 thousand, or 12%, from the same period in 2024, in line with lower sales volume for RMC, after the termination
of its relationship with Penumbra.

Gross Profit

Gross profit for the three months ended March
31, 2025 decreased by $71 thousand, or 30%, from the same period in 2024. Gross margin percentage decreased from 26.3% to 22.2%, primarily
due to KRW depreciation that led to higher costs of imported goods for RMC. In