Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 162

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 162
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 $39,000, $147,000and $151,000, respectively.

F-30

ORIENTAL
CULTURE HOLDING LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 14 - Equity

Pursuant to the Amended and Restated Article of
Association adopted by a special resolution of the shareholders of the Company dated September 12, 2019, the authorized shares of50,000,000ordinary shares were re-designated to50,000,000preferred shares of a nominal or par value of USD0.0001each.

On November 8, 2019, the shareholders of the Company
adopted the Second Amended and Restated Articles of Association to effect a 2 for 1 forward share split of the total authorized and issued
and outstanding shares of the Company. As a result of the 2 for 1 forward share split, the Company’s total authorized shares are
1,000,000,000 shares comprising of (i) 900,000,000 ordinary shares with a par value of $0.00005 each and (ii) 100,000,000 preferred shares
with a par value of $0.00005 each, and the Company’s issued and outstanding ordinary shares increased from 12,400,000 shares to
24,800,000 shares. In addition, all existing shareholders agreed to surrender to the Company as treasury shares, 12.5% of the then outstanding
ordinary shares (3,100,000 ordinary shares) for no consideration.

On May 28, 2020, all existing shareholders of
the Company agreed to surrender an additional6,510,000ordinary shares, or30% of the Company’s then outstanding ordinary shares,
at no consideration to be reserved as treasury shares of the Company.

In October, 2023, the shareholders and Board of
Directors of the Company approved a share consolidation of each of the issued and unissued ordinary shares with a par value of US$0.00005to be consolidated into one ordinary share with par value of $0.00025each (the “ Share Consolidation”), 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 shares
with a par value of US$0.00005 per share of which (x) 900,000,000 shares