Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 140

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 140
---
 sold collectibles on other platforms
before, and they are not tied to the type or value of the underlying collectible/artwork. Marketing service contracts and fees are recognized
upon the completion of the performance obligation.

Other revenues

Other revenues (including related parties of $54,633,
$144,609, and $166,325for the years ended December 31, 2024, 2023 and 2022, respectively) primarily includes service fees for IT technical
support to customers and other revenues from agency recommendation fees. IT technical support fees are negotiated on a case-by-case basis
and are recognized when the related services have been performed based on the specific terms of the contract. Agency recommendation fees
are mainly training and consulting services provided to certain traders/agents for them to be qualified. Upon completion of the training
and consultation, these qualified traders/agents may introduce the Company’s platform and services to potential customers to list
their collectibles and artwork with the Company for a fee or promote their own products on the Company’s platforms. The Company’s
performance obligation is completed and revenue is recognized upon completion of training and consultation services.

The Company disaggregated its revenue into the
following four categories:

                              Years Ended December 31,                                                                  
                              2024                                       2023                     2022                  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Listing service fees        $                             103,807      $           457,176      $          1,244,251  
  Transaction fees                                          296,379                  806,794                13,643,958  
  Marketing service fees                                    156,995                  166,444                 2,749,224  
  Other revenues*                                            65,509                  149,644                   175,706  
  Total                       $                             622,690      $         1,580,058      $         17,813,139  

  Including $ 54,633, $ 144,609, and $ 166,325 for the years ended December 31, 2024, 2023 and 2022, respectively, from related parties.  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

Deferred revenue

Payments received from customers before all the relevant criteria for
revenue recognition are recorded as deferred revenue.

                                December 31,                     December 31,                   
  Beginning balance