Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 77

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 77
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22, 2023. Our cash inflow was mainly from net income of approximately $3.2 million and increase
of approximately $1.5 million in accounts payable affected by restricted cash.

Investing Activities

Net cash used in investing activities was approximately $11.6 million
for the year ended December 31, 2024, which was primarily attributable to the purchase of short-term investments of approximately $45.6
million offset by the proceed from sale of short-term investments of approximately $34.5 million, and the purchase of intangible assets
of $0.5 million.

Net cash used in investing activities was approximately
$0.5 million for the year ended December 31, 2023, which was primarily attributable to the purchase of short-term investments of approximately
$14.6 million offset by the proceed from sale of short-term investments of approximately $14.3 million. We paid approximately $0.2 million
for construction in progress and intangible assets in our VIE and in Beijing Jiu Yu Ling Jing Technology Co., Ltd. (“ JYLJ”),
in whom we acquired 11.875% equity interest.

Net cash provided by investing activities was
approximately $0.6 million for the year ended December 31, 2022, which was primarily attributable to the proceed from sale of short term
investment approximately of $24.0 million offset by the purchase of short-terms investment approximately of $22.2 million. We paid approximately
$0.7 million for fixed and intangible assets and invested $0.5 million in Beijing Jiu Yu Ling Jing Technology Co., Ltd. (“ JYLJ”),
in whom we acquired 11.875% equity interest.

Financing Activities

Net cash provided by financing activities was
approximately $7.0 million for the year ended December 31, 2024, which was primarily attributable to proceeds from private placement.

Net cash provided by financing activities was
approximately $0.6 million for the year ended December 31, 2023, which was primarily attributable to proceeds released from escrow.

Net cash provided by financing activities was
approximately $1.0 million for the year ended December 31, 2022, which was primarily attributable to the proceeds from a private placement
in 2021.

5C. Research and Development, Patents and Licenses,
etc.

See “ Item 4. Information on the Company - B.
Business Overview - Intellectual Property.”

D. Trend Information