Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 54

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 7
Chunk 54
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Item
7. Major Shareholders and Related Party Transactions

7. A. Major Shareholders

Please refer to “ Item
6. Directors, Senior Management and Employees - 6. E. Share Ownership.”

7. B. Related Party Transactions

Terms of Directors
and Officers

See
“ Item 6. Directors, Senior Management and Employees-6. C. Board Practices-Terms of Directors and Officers.”

Employment Agreements
and Indemnification Agreements

See
“ Item 6. Directors, Senior Management and Employees-6. B. Compensation-Employment Agreements.”

Other Related Party
Transactions

The
table below sets forth the major related parties and their relationships with the Company as of December 31, 2024, 2023, and 2022:

  Name of related parties                                                              Relationship with the Company                                  
  Jinjiang Xingminqi Accounting Vocational Training School (“ Jinjiang School”)        A company controlled by the Company’s controlling shareholder  
  Quanzhou City Lichen Accounting Vocational Training School (“ Quanzhou School”)      A company controlled by the Company’s controlling shareholder  
  Mr. Ya Li                                                                            Chief Executive Officer, Chairman of the Board                 

  Significant transactions               

                                                                                           2024      2023      2022  
  Provision of marketing, operation and technical support services to Jinjiang School      $          $48       $67  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Provision of marketing, operation and technical support services to Quanzhou School                  60       126  
  Processing of academic education applications to Jinjiang School                                    101       183  
  Processing of academic education applications to Quanzhou School                                    107       234  
  Sales of teaching and learning materials to Jinjiang School                                          74        71  
  Sales of teaching and learning materials to Quanzhou School                                          49        62  
  Online training to Jinjiang School                                                                   28        37  
  Online training to Quanzhou School                                                                   16        35  
  Total revenues – related parties                                                         $         $483      $815  

  ii)      Significant balances with         

                              2024                              2023  
 ──────────────────────────────────────────────────────────────────────
                              In thousands of USD                     
  Due to a related party                                              
  Ya Li                                                866            
  Total                       $                        866      $     

Balances