Company: LICN
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036244
Chunk: 6

Company: Lichen International Ltd
Filing Date: 2025-04-29
Form: 20-F
Item: Item 4
Chunk 6
---
Item
4. Information on the Company

4. A. History and Development of the Company

Corporate History

Lichen International Limited
(formerly known as “ Lichen China Limited”) was incorporated on April 13, 2016 under the laws of the Cayman Islands. As of
the date of this annual report, the authorized share capital of the Company is US$1,000,000 divided into 100,000,000 Class A Ordinary
Shares and 25,000,000 Class B Ordinary Shares, of which 716,825 Class A Ordinary Shares and 45,000 Class B Ordinary Shares are issued
and outstanding. The Company is a holding company and is currently not actively engaging in any business. Lichen International Limited
controls and receives the economic benefits of its PRC subsidiaries’ business operation, if any, through equity ownership.

Legend Consulting BVI was
incorporated on December 20, 2013 under the laws of the British Virgin Islands with limited liability. Legend Consulting BVI is a wholly
owned subsidiary of the Company. Legend Consulting BVI is a holding company and is currently not actively engaging in any business.

Legend Consulting HK was formed
on January 8, 2014 under the laws of Hong Kong. Legend Consulting HK is a wholly owned subsidiary of Legend Consulting BVI. It is a holding
company and is not actively engaging in any business.

Lichen Zixun was established
on April 14, 2004 under the laws of the PRC. Lichen Zixun is a wholly owned subsidiary of Legend Consulting HK and is our main operating
entity.

Lichen Singapore was established
on December 28, 2023 under the laws of Singapore. Lichen Singapore is a wholly owned subsidiary of Legend Consulting HK.

Bondly HK was established
on June 13, 2022 under the laws of Hong Kong. Bondly HK is a wholly owned subsidiary of Legend Consulting HK.

Bondly XM was established
on August 25, 2022 under the laws of PRC. Bondly XM is a wholly owned subsidiary of Bondly HK.

Recent Developments

The IPO

On February 8, 2023, the Company
completed its initial public offering on the Nasdaq Capital Market. In this offering, 4,000,000 Class A Ordinary Shares were issued at
a price of $4.00 per share. The gross proceeds received from the initial public offering totaled $16 million. The Offering closed on February