Company: OCG
Filing Date: 2025-04-30
Form Type: NT 20-F
Source: 0001213900-25-037658
Chunk: 3

Company: Oriental Culture Holding LTD
Filing Date: 2025-04-30
Form: NT 20-F
Chunk 3
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,690 |     |   | 100.0 |     | $       | 1,580,058 |     |   | 100.0 |     | $        | (957,368 | ) |     |   | (60.6 | )% |

| * | Including                                                                                               
 $54,633 and $144,609 from related parties for the years ended December 31, 2024 and 2023, respectively. |

(1) Listing service fees: Total
listing service fees decreased by approximately $0.4 million or 77.3% from approximately $0.5 million for the year ended December 31,
2023 to approximately $0.1 million for the same period in 2024. Our listing service fees are calculated based on a percentage of the listing
value of collectibles, artwork and commodities of new products. In addition, there was a decrease in listing values of approximately $9.3
million generated by new products listings with approximately $25.0 million and $15.7 million for 2023 and 2024, respectively. The numbers
of new collectibles/artwork and commodities that were successfully listed on our platforms decreased from 135 for the year ended December
31, 2023 to 7 for the year ended December 31, 2024. The decrease in the value generated by new product listings was mainly due to the
decrease of the numbers of new products which caused by the impact from the freezing of bank accounts caused by the ongoing investigation
of our shareholders starting in the second half of 2022 as it was hard to keep clients.

(2) Transaction fee revenue:

Total transaction fee revenue decreased by approximately
$0.5 million or 63.3% from approximately $0.8 million for the year ended December 31, 2023 to approximately $0.3 million for the same
period in 2024. The decrease was due to the decrease in total transaction value. Transaction fee revenue is calculated based on a certain
percentage of the transaction value per transaction. Our total transaction value decreased from approximately $0.5 billion the year ended
December 31, 2023 to approximately $0.1 billion for the same period in 2024. The decrease in our transaction was mainly due to negative
impact from the freezing of bank accounts caused by the ongoing investigation of our related party that started in second half of 2022
which reduced overall customers transactions.

(3) Marketing