Csr Capital A/S (Koncern)

The Group's principal activities The Group and CSR Capital A/S principal activities are investment in socially and environmentally sustainable companies outside Denmark, including project activities and development of collaborative relationships as well as investment in real estate property. Insecurity regarding recognition or measurement The company invests in socially and environmentally sustainable companies. The measurement of this can be more difficult than the measurement of other investments. It is management's opinion that the applied accounting policies ensure the correct recognition of investments. Development in activities and the financial situation The gross profit of the financial year 1 January 2021 - 31 December 2021 regarding CSR Capital A/S shows a gross profit of t.kr. -4.584 compared with last year of t.kr. -761 and the net income for the year shows t.kr. 2.280 compared with last year of t.kr. -2.639. Managements expectation for the financial year 2021 was a net income between 1 and 3 mill. DKK and the result for the year is considered satisfactory. The company's strategy is to make investments in already established companies in collaboration with local and/or foreign, including Danish entrepreneurs, in order to actively contribute to developing new companies and thereby create employment and increased economic growth in local areas and especially China. The company contributes with both share capital and loan investments and also actively participates in the management of the project companies, through board representatives and the providing of experts where it is necessary. The investment activities are primarily aimed at creating development and growth for the local populations, and at the same time there is focus on contributing to environmental sustainability, social responsibility and the fulfillment of criteria for good and responsible corporate governance. Investments of this type have an earnings potential that is more long-term and a risk profile that is higher than in traditional venture and private equity funds. Several of the investment projects have experienced difficulties in obtaining the liquidity required. It is the management's assessment that several of the projects are unsustainable in the long-term and should be closed or disposed of. It is the management's assessment that the written-down values correspond to the expected realization values. The company has suspended its investment activities, and is instead working focused on securing the most sustainable parts of the current investments. In 2011 CSR Capital A/S' invested in the participating interest Baiyin Xirui Bioengineering Co. Ltd., China. The participating interest has been in distress for several years, and has been declared bankrupt with a significant negative equity in 2021. As a result, the company is considered divested. The investment was written off in full, and bankruptcy has not affected the result for the year. Expectations for the future In 2022 there are expected to be none investments in new companies and a net result in the rage between 1 and 3 mill. DKK. Particular risks Beyond ordinary occurring risk, no particular risks are considered to affect the company except ordinary occurring risks. Knowledge and know-how resources The company's business foundation includes investment in socially and environmentally sustainable companies. These business areas demand particularly high knowledge resources regarding business processes and local issues. In order to constantly be able to live up to this, it is crucial that the company has a low turnover of employees. Environmental issues As mentioned above the company aims through its investments to contribute to environmentally sustainable companies. This is done through an active selection of investments, where there among other things are focus on the companies' areas of activity and climate policy. Research and development activities The development activities are carried out in the subsidiaries and are of limited scope. The development comprises primarily of development of environmentally friendly solutions.

Development in activities and the financial situation The gross profit of the financial year 1 January 2021 - 31 December 2021 regarding CSR Capital A/S shows a gross profit of t.kr. -4.584 compared with last year of t.kr. -761 and the net income for the year shows t.kr. 2.280 compared with last year of t.kr. -2.639. Managements expectation for the financial year 2021 was a net income between 1 and 3 mill. DKK and the result for the year is considered satisfactory. The company's strategy is to make investments in already established companies in collaboration with local and/or foreign, including Danish entrepreneurs, in order to actively contribute to developing new companies and thereby create employment and increased economic growth in local areas and especially China. The company contributes with both share capital and loan investments and also actively participates in the management of the project companies, through board representatives and the providing of experts where it is necessary. The investment activities are primarily aimed at creating development and growth for the local populations, and at the same time there is focus on contributing to environmental sustainability, social responsibility and the fulfillment of criteria for good and responsible corporate governance. Investments of this type have an earnings potential that is more long-term and a risk profile that is higher than in traditional venture and private equity funds. Several of the investment projects have experienced difficulties in obtaining the liquidity required. It is the management's assessment that several of the projects are unsustainable in the long-term and should be closed or disposed of. It is the management's assessment that the written-down values correspond to the expected realization values. The company has suspended its investment activities, and is instead working focused on securing the most sustainable parts of the current investments. In 2011 CSR Capital A/S' invested in the participating interest Baiyin Xirui Bioengineering Co. Ltd., China. The participating interest has been in distress for several years, and has been declared bankrupt with a significant negative equity in 2021. As a result, the company is considered divested. The investment was written off in full, and bankruptcy has not affected the result for the year. , Development in activities and the financial situation The gross profit of the financial year 1 January 2021 - 31 December 2021 regarding CSR Capital A/S shows a gross profit of t.kr. -4.584 compared with last year of t.kr. -761 and the net income for the year shows t.kr. 2.280 compared with last year of t.kr. -2.639. Managements expectation for the financial year 2021 was a net income between 1 and 3 mill. DKK and the result for the year is considered satisfactory. The company's strategy is to make investments in already established companies in collaboration with local and/or foreign, including Danish entrepreneurs, in order to actively contribute to developing new companies and thereby create employment and increased economic growth in local areas and especially China. The company contributes with both share capital and loan investments and also actively participates in the management of the project companies, through board representatives and the providing of experts where it is necessary. The investment activities are primarily aimed at creating development and growth for the local populations, and at the same time there is focus on contributing to environmental sustainability, social responsibility and the fulfillment of criteria for good and responsible corporate governance. Investments of this type have an earnings potential that is more long-term and a risk profile that is higher than in traditional venture and private equity funds. Several of the investment projects have experienced difficulties in obtaining the liquidity required. It is the management's assessment that several of the projects are unsustainable in the long-term and should be closed or disposed of. It is the management's assessment that the written-down values correspond to the expected realization values. The company has suspended its investment activities, and is instead working focused on securing the most sustainable parts of the current investments. In 2011 CSR Capital A/S' invested in the participating interest Baiyin Xirui Bioengineering Co. Ltd., China. The participating interest has been in distress for several years, and has been declared bankrupt with a significant negative equity in 2021. As a result, the company is considered divested. The investment was written off in full, and bankruptcy has not affected the result for the year.