Sasbadi Annual Report 2023

,1'(3(1'(17 $8',7256·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· 5HVSRQVLELOLWLHV IRU WKH $XGLW RI WKH )LQDQFLDO 6WDWHPHQWV 2XU REMHFWLYHV DUH WR REWDLQ UHDVRQDEOH DVVXUDQFH DERXW ZKHWKHU WKH ILQDQFLDO VWDWHPHQWV RI WKH *URXS DQG RI WKH &RPSDQ\ DV D ZKROH DUH IUHH IURP PDWHULDO PLVVWDWHPHQW ZKHWKHU GXH WR IUDXG RU HUURU DQG WR LVVXH DQ DXGLWRUV·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inancial Statements (continued)

RkJQdWJsaXNoZXIy NDgzMzc=