Company: OCG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043484
Chunk: 150

Company: Oriental Culture Holding LTD
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 150
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 Accounts payable                            $                 1,417,587      $                 1,504,171  
  Accounts payable – related parties                                  502                           27,885  
  Deferred revenue                                                 78,427                          181,930  
  Other payables and accrued liabilities                          615,970                          711,361  
  Taxes payable                                                    13,073                           12,492  
  Total liabilities                           $                 2,125,559      $                 2,437,839  

The summarized operating results of the VIEs are
as follows:

                                     Years Ended December 31,                                                               
                                     2024                                           2023                              2022  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Operating revenues                 $                                 622,690      $           1,580,058      $17,813,254  
  (Loss) income from operations      $                             ( 1,156,651      $         ( 1,381,430       $6,728,516  
  Net (loss) income                  $                               ( 623,395      $           ( 923,214       $7,314,651  

F-21

ORIENTAL
CULTURE HOLDING LTD. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 4 - Disposal of subsidiary

In December 2024, the Company disposed of HKDAEx
for $1and recognized approximately $25,000of gain from disposal. This subsidiary provided the Company’s customers with an
additional online trading platform of certain commodities in Hong Kong. Starting from May 13, 2024, the trading platform operated by HKDAEx
for products and commodities other than collectible and artwork in Hong Kong merged with the Company’s main online platform for
collectibles and artwork operated by International Exchange to better integrate resources, reduce costs, and provide better customer services.
The trading platform of HKDAEx and its related trading business ceased operation as of June 30, 2024. Since the disposal did not represent
any strategic change of the Company’s operation, the disposal was not presented as discontinued operations.

                                 December 31,                
 ─────────────────────────────────────────────────────────────
                                 2024                        
  Total current assets           $                    2,513  
  Total other assets                                  1,406  
  Total assets                                        3,919