Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 14

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 14
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 (approximately $923,076) and has provided certain internet development resources and technical support to JYLJ. Noble
Family and BJWJ, the existing shareholders of JYLJ and two new investors also made contributions in cash for an aggregate of RMB44 million
(approximately $6.77 million) and certain initial work and business resources to JYJL. After this capital increase, Jiangsu Yanggu became
the third largest shareholder of JYLJ. JYLJ primarily engages in wine and alcohol product merchants and customers, as well as product
launch, brand showcase, marketing and promotion and it is currently in the process of developing a “ Wine and Spirits” metaverse,
and the amount raised through increase of share capital are mainly used for this development. As of the date of this report, JYLJ has
developed certain programs and apps but the project is not completed and has not been put in operations.

On October 10, 2023, the shareholders of the Company
approved the resolution of a share consolidation (the “ Share Consolidation” or “ Reverse Stock Split”) of the issued
and authorized ordinary shares of the Company at a ratio between one (1)-for-three (3) and one (1)-for-ten (10), accompanied by a
corresponding increase in the par value of the ordinary shares, with the exact ratio to be set at a whole number within this range and
at such time and date after the passing of the resolution but before October 18, 2023, to be determined by the Board of Directors
of the Company (the “ Board”) in its discretion. On October 10, 2023, the Board determined the ratio for Share Consolidation
to be one (1)- for five -(5), accompanied by a corresponding increase in the par value of the ordinary shares to $0.00025. The Share Consolidation
was primarily being effectuated to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) related to the minimum bid price per share
of the Company’s ordinary shares. Upon the effective of the Share Consolidation, each of the issued and unissued ordinary
shares with a par value of US$0.00005 to be consolidated into one ordinary share with par value of $0.00025 each, such that immediately
following the Share Consolidation, the authorized share capital of the Company changed from (a) US$50,000 divided into 1,000,000,000