Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 108

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 15
Chunk 108
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 accounting firm identified one material weakness in our internal
control over financial reporting. As defined in the standards established by the U. S. Public Company Accounting Oversight Board, a “material
weakness” is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable
possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis,
in accordance with the standards established by the Public Company Accounting Oversight Board of the United States.

The material weakness identified relates to our
lack of in-house accounting personnel with appropriate knowledge of U. S. GAAP and SEC reporting requirements to prepare and review financial
statements and related disclosures in accordance with U. S. GAAP and applicable requirements by SEC. Due to the foregoing material weakness,
management concluded that as of December 31, 2024, our internal control over financial reporting was ineffective.

To remedy our identified material weakness identified
to date, we have hired external accountants who have extensive experience in US GAAP and SEC reporting to help us in the preparation of
our financial reports, and we also plan to undertake steps to strengthen our internal control over financial reporting, including (i)
recruiting more financial reporting and accounting personnel who have adequate U. S. GAAP and SEC reporting knowledge; and (ii) implementing
regular and continuous U. S. GAAP and SEC accounting and financial reporting training programs for our accounting and financial personnel.

However, we cannot assure you that we will remediate
our material weakness in a timely manner, or at all. See “ Item 3. Key Information - Risk Factors - Risks Related to Our
Business - If we fail to establish and maintain proper internal financial reporting controls, our ability to produce accurate financial
statements or comply with applicable regulations could be impaired.”

As a company with less than US$1.235 billion in
revenue for our last fiscal year, we qualify as an “emerging growth company” pursuant to the JOBS Act. An emerging growth
company may take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to public companies.
These provisions include exemption from the auditor attestation requirement under Section 404 of the Sarbanes-Oxley Act of 2002 in
the assessment of the emerging growth company’s internal control over financial reporting.

Attestation Report of the Registered Public
Accounting Firm

As a Company with less than $1.235 billion in
revenue for our