Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 161

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 161
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ULTURE HOLDING LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

g. General and administrative expenses - 
related parties consist of the following:

                       Relationship                                                                                                                                                                                              Nature                                                               Year Ended        Year Ended  
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                    December 31,      December 31,  
                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                            2023              2022  
  Nanjing Culture      Mr. Huajun Gao, the general manager and director of Nanjing Culture, and Mr. Aimin Kong, the vice chairman of Nanjing Culture, each a 2.6% beneficial shareholder of the Company from May 31, 202...      Rent expense.                                          38,647          $146,924          $151,480  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  HKFAEx               100% owned by the Company’s former Chairman                                                                                                                                                               Accounting and business administration services.       65,744           $87,365           $87,350  
  Total                                                                                                                                                                                                                                                                                104,391          $234,289          $238,830  

During the years ended December 31, 2024, 2023
and 2022, HKDAEx paid approximately $66,000, $87,000and $87,000, respectively, to HKFAEx, a company owned by our chairman for accounting
and business administration services.

The Company entered into a non-cancellable Office
Premises Use Contract with Nanjing Culture which is controlled by Huajun Gao and Aimin Kong, each is a10.7% beneficial shareholder
of the Company, for an office from January 1, 2020 to December 31, 2020 with a monthly rental of approximately $14,000including
VAT taxes. The Company renewed the lease under the same terms from January 1, 2021 to December 31, 2021 and then renewed again to December
31, 2024. Nanjing Culture became a third party since June 2024. The monthly rent from January 2024 to May 2024 was renegotiated to approximately
$7,700per month. Total related party rental expense for the years ended December 31, 2024, 2023 and 2022 was approximately