Oriental Culture Holding LTD

What they do

Oriental Culture Holding LTD operates primarily in China and Hong Kong through subsidiaries including Oriental Culture BVI, Oriental Culture HK, Nanjing Rongke (WFOE), Hainan Yanqing and International Exchange. Its main business operations in China were carried out by Jiangsu Yanggu Culture Development Co., Ltd., the VIE, until the Company terminated the VIE agreements and structures on November 11, 2025. The company states that all revenues are received and denominated in RMB and Hong Kong Dollars. It conducts business in the miscellaneous business services sector, with principal offices at Room 1310, Tower B, Harbour View Building, Eastern District, Hong Kong.

Revenue drivers

• China VIE operations (Jiangsu Yanggu) — The filing identifies Jiangsu Yanggu as the VIE that carried out the Company's main business operations in China until the VIE agreements were terminated on November 11, 2025.
• Hong Kong subsidiary (International Exchange) — International Exchange is a wholly owned Hong Kong subsidiary identified in the filing, though the excerpts do not state its revenue contribution or specific activities.
• Other subsidiaries — The filing names Oriental Culture BVI, Oriental Culture HK, Nanjing Rongke (WFOE) and Hainan Yanqing as entities within the structure, but the excerpts do not quantify revenue by subsidiary or product line.

Recent performance

Annual revenue fell from $37.6M in 2021 to $17.8M in 2022, then to $1.6M in 2023, $0.62M in 2024 and $1.9M in 2025. Net income swung from $11.4M in 2021 and $3.2M in 2022 to net losses of $3.6M in 2023, $2.4M in 2024 and $3.9M in 2025. Operating cash flow was $9.0M in 2021, negative $1.2M in 2022, $3.6M in 2023, negative $4.0M in 2024 and $77,103 in 2025. At December 31, 2025, total assets were $66.5M, total liabilities $1.9M, shareholder equity $64.6M and cash and equivalents $32.3M.

Strategy

The filing discloses that the Company terminated the VIE agreements and structures with Jiangsu Yanggu on November 11, 2025, ending the contractual arrangement that had carried out its main business operations in China. No other forward-looking strategic initiatives, investments or priorities are described in the provided excerpts. The Company effected a 1-for-220 share consolidation in January 2026 and a 1-for-3 share consolidation in April 2026, as noted in the filing. The excerpts do not state revenue guidance, capital allocation plans or product development priorities.

Risks

• VIE termination and loss of China operations — The Company terminated the VIE agreements and structures with Jiangsu Yanggu on November 11, 2025, removing the entity that carried out its main business operations in China.
• Revenue and earnings decline — Revenue fell from $37.6M in 2021 to $0.62M in 2024 and $1.9M in 2025, with net losses in each of 2023, 2024 and 2025.
• Currency and foreign exchange exposure — The filing states all revenues are received and denominated in RMB and Hong Kong Dollars, and RMB is not freely convertible into foreign currency.
• Share consolidations and Nasdaq listing — The Company completed a 1-for-220 consolidation in January 2026 and a 1-for-3 consolidation in April 2026, and its ordinary shares are listed on the Nasdaq Capital Market under the symbol OCG.

Outlook

The excerpts do not include management revenue guidance or a detailed outlook for fiscal 2026. The Company's fiscal year 2025 Form 20-F, filed May 14, 2026, reflects the November 11, 2025 termination of the Jiangsu Yanggu VIE agreements. The filing does not state what business lines will replace or continue the VIE's China operations. No forward-looking targets are provided in the source material.