Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 315

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1A
Chunk 315
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 we are a minority shareholder. Where we are the majority shareholder, we will have certain duties to minority shareholders,
which may limit our ability to integrate operations with our other subsidiaries. If we make an investment as a minority investor, we are
unlikely to exert much, if any, control over the business and we may be limited in our ability to realize value from those investments.

We currently own wholly-owned subsidiaries, and plan to be the
majority owner of future subsidiaries. In the event that we acquire a majority ownership interest or make an investment in another company,
or if any of our subsidiaries require additional capital and such additional capital is obtained from third party investors rather than
from us, we may be (or may become) a minority shareholder and unable to control the business and operations of those companies.

If the companies in which we are a minority shareholder conduct their
business in a manner detrimental to our interests, business, or reputation, our returns may be adversely affected. Companies in which
we are a minority shareholder may not consult us on business decisions and could take actions without our consent, which could have an
adverse impact on our returns.

If we acquire less than all of the ownership interests in a subsidiary
or if we reduce our interest in a wholly-owned subsidiary, our resulting majority ownership will create additional risks because
we must be sure that any contracts between such subsidiaries and our company or any of our other subsidiaries are conducted on an “arms-length”
basis. As a result, we will be unable to manage majority-owned subsidiaries in the same fashion as our wholly-owned subsidiaries
(where contracts with affiliates need not be on an arms-length basis). These constraints may require management to incur time and
resources to determine “arms-length” provisions of contracts with majority-owned subsidiaries. Minority shareholders
of majority-owned subsidiaries may, after the fact, claim breach of fiduciary duties with respect to contracts that they assert are
not “arms-length” or not fair to the minority shareholders. These types of claims may result in judgments or settlements that
require us or our subsidiaries to pay damages to the minority shareholders.

41

A single or limited number of portfolio companies may comprise
a large proportion of our value.

A large proportion of our value may, at any time, reside in one or
two of our subsidiaries, including intellectual property rights and the value ascribed to the product candidate or program that it is
developing. Our consolidated financial condition and