Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 94

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 6
Chunk 94
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  Make recommendations to the board of directors as to compensation for the Company’s directors; and                                                                                                    
  Review and recommend to the board of directors the Corporate Governance Guidelines and Code of Business Conduct and Ethics for the Company.                                                           

Director Independence

Our board of directors reviewed the materiality
of any relationship that each of our proposed directors has with us, either directly or indirectly. Based on this review, it is determined
that Nelson Wong, Xiaobing Liu and Jinren Chen are the “independent directors” as defined by NASDAQ.

6. D. Employees

As of December 31, 2024 and December 31, 2023, we had a total of 33
and 52 full time employees, respectively. The following table sets forth the breakdown of our employees’ functions as of December
31, 2024:

  Function                             Number*      % of Total  
                                                     Employees  
 ────────────────────────────────────────────────────────────────
  Technology and Research                    9           27.27  
  Sales & Marketing                         12           36.36  
  General & HR and Administration           12           36.36  
                                            33          100.00  

  excluding the employees of Zhongcang Warehouse Co., Ltd., an 18% indirect subsidiary of Jiangsu Yanggu, the VIE.  

As of December 31, 2024, 30 of our employees were based in Mainland
China and 3 employees were located in Hong Kong.

We understand that our success depends on our
ability to attract, train and retain our employees. Therefore, as part of our human resources strategy, we offer employees competitive
salaries, performance-based cash bonuses and promotions, engagement activities, various welfare as well as other incentives. We design
and provide training to our employees regularly in order to enhance their professional skills and foster their career development. We
also recognize the importance of keeping our employees safe. In response to the COVID-19 pandemic, we implemented changes that we determined
were in the best interest of our employees and have followed local government orders to prevent the spread of COVID-19.

As required by PRC regulations, we participate
in various government statutory employee benefit plans, including social insurance funds, namely a pension contribution plan, a medical
insurance plan, an unemployment insurance plan, a work-related injury insurance plan and a maternity insurance plan, and a housing provident
fund. We are required under PRC law to make