Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 67

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 67
---
 decrease. Due to net loss, the basic and diluted shares are
considered the same.

Results of Operations

The tables in the following discussion summarize
our consolidated statements of income and comprehensive income for the periods indicated. This information should be read together with
our consolidated financial statements and related notes included elsewhere in this annual report. The operating results in any period
are not necessarily of the results that may be expected for any future period.

Years Ended December 31, 2023 vs. December 31, 2022

                                                                                  For the Years Ended                           Variance              
                                                                                         December 31,                                                 
                                                                                                 2023             2022            Amount              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net revenues                                                                             $1,435,449      $17,646,814      $(16,211,365       (91.9  
  Net revenues – related parties                                                              144,609          166,325           (21,716       (13.1  
  Total operating revenues                                                                  1,580,058       17,813,139       (16,233,081       (91.1  
  Less: cost of revenues                                                                     (405,628         (996,459           590,831       (59.3  
  Gross profit                                                                              1,174,430       16,816,680       (15,642,250       (93.0  
  Operating expenses                                                                       (5,509,838      (14,227,329         8,717,491       (61.3  
  Income from operations                                                                   (4,335,408        2,589,351        (6,924,759      (267.4  
  Other income, net                                                                           751,761          651,147           100,614        15.5  
  Income before income taxes                                                               (3,583,647        3,240,498        (6,824,145      (210.6  
  Provision for income taxes                                                                   14,833            4,812            10,021       208.3  
  Net income                                                                               (3,598,480        3,235,686        (6,834,166      (211.2  
  Foreign currency translation adjustment                                                    (560,679       (2,273,012         1,712,333       (75.3  
  Comprehensive income