Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 32

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 32
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” (“ Decision
No. 38”) promulgated by the State Council of the PRC on November 11, 2011 and effective on the same day, and “ Opinions Of
The General Office Of The State Council On The Implementation Of The Clean-Up And Rectification Of Various Trading Venues” (“ Opinion
No. 37”) promulgated by the General Office of the State Council of the PRC on July 12, 2012 and effective on the same day, any trading
places and their branches that violate any of the following provisions shall be cleaned up and rectified. Such parties must not

  (1)      Divide any equity into equal shares for public offering. An “equal share public offering” is when a trading place uses its services and facilities to divide its equity into equal shares and sel...  

  (2)      Adopt centralized trading. The “centralized trading methods” referred to in this opinion include collective bidding, continuous bidding, electronic matching, anonymous trading, market makers an...  

  (3)      Continuously list and trade the rights and interests in accordance with standardized trading units. The “standardized trading unit” referred to in this opinion refers to the minimum trading uni...  

  (4)      Have a cumulative number of equity holders exceeding 200. Except as otherwise provided for by laws and administrative regulations, the cumulative number of actual holders of any equity shall no...  

  (5)      Carry out standardized contract trading by centralized trading. The “standardized contract” referred to in this opinion includes two situations: one is a unified contract established by the tra...  

  (6)      Without the approval of the relevant financial administrative department of the state council, establish either trading places for the trading of financial products such as insurance, credit an...  

Additionally, according to “ Notice Concerning
The Issuance Of Minutes Of The Special Session On The Clean-Up And Rectification Of Stamp And Commemorative Coins Trading Places”
promulgated by the Office of the Joint Meeting on August 2, 2017, any stamps, coins and magcards using a stock issuance-like model to
trading places mainly trading stamps by a concentrated bidding and “ T+0” transaction method should cease to operate. The stamps,
coins and magcards being illegally traded must be made off-line in time. Trading places which have ceased operations shall not re-start
operating unless they obtain approval from the provincial government and complete the required filing with the Joint Meeting. Provincial