Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 158

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 158
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31, 2023 and 2022, respectively.

One vendor accounted for41.4% of the Company’s
accounts payable as of December 31, 2024, and there is no accounts payable concentration for the years ended December 31, 2023.

F-27

ORIENTAL
CULTURE HOLDING LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 13 - Related party transactions

a. Other receivables - related party

                                                                             Relationship                                                                                                                                                                               Nature                                                                                                                                                                                                    December 31,      December 31,  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  2024                      2023  
  Nanjing Jinwang Art Purchase E-commerce Co., Ltd.(“ Nanjing Jinwang”)      It is controlled or owned by Huajun Gao and/or Aimin Kong, each a 2.6% beneficial shareholder of the Company from May 31, 2024 and 10.7% beneficial shareholder prior to May 31, 2024      Funds held in trading platform trust account entrusted with Nanjing Jinwang. The funds are unrestricted as to immediate withdrawal and use after the Company’s customers completed the necessary ...      $                     $346,114  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                           $                     $346,114  

b. Accounts payable - related parties consist
of the following:

                                     Relationship                                     Nature                        December 31,               December 31,              
                                                                                                                    2024                       2023                      
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Zhongcang Warehouse Co., Ltd.      An 18% subsidiary of the VIE of the Company      Payable for storage fees                        502                        27,885  
  Total                                                                                                             $                 502      $                 27,885  

c. Other payables - related parties consist of the following:

Other payables - related parties are those
nontrade payables arising from transactions between the Company and its related parties, such as payments paid on behalf of the Company.

                   Relationship                                                  December 31,      December 31