Oriental Culture Holding Ltd (OCG) News & EventsOCGOriental Culture Holding Ltd

Oriental Culture Transitions to Supporting Services for Third-Party Art Platforms

Oriental Culture announced that its board of directors has approved a strategic transition of its main business from online provider of collectibles and artwork e-commerce services to the supporting services for third party art and collectible platforms. In response to recent development in art and collectible trading industry in China, the company has carefully reviewed its overall business development strategy and plans to further develop and expand its supporting services for the art and collectible trading platform to transition its main business towards supporting service-oriented business for third party trading platforms. Through its wholly owned operating subsidiaries in China, the Company will develop three core business segments: technology support services, cultural and art products warehousing and custodianship services, and real estate operations, while continue to expand its ancillary services related to art appraisal and grading. Among these, the technology support services and cultural art warehousing and custodianship segments are built upon the company's relationship in the industry, which have been generating cash flows for the company. The company believes it will be able to provide third party trading platforms, shopping malls, and other institutional clients with standardized, fully integrated supporting services. The real estate operations will be mainly conducted through leasing out self-owned properties to third parties to deliver supplementary revenue to the company. "This strategic transition into a supporting service-oriented business for third party trading platforms marks an important moment for the Company," said Yi Shao, the Chief Executive Officer of the company, "building from our existing operational capacity and supporting services as the foundation, this new strategy will create pathways for new business, diversify our revenue stream, and lay the groundwork for long-term value creation for our shareholders. We believe this is the right move at the right time to secure the Company's future and unlock new opportunities for sustainable growth." Shao concluded.

Oriental Culture Holding Files $260M Mixed Securities Shelf

Oriental Culture Holding files $260M mixed securities shelf

Oriental Culture Holding Announces Special Cash Dividend Plan

Oriental Culture Holding announced that its Board of Directors has approved a special cash dividend plan to celebrate the company's fifth anniversary of listing on Nasdaq and reward shareholders for their long-term support. The specific dividend details are as follows: Dividend Type: Special Cash Dividend. Eligible Shareholders: Shareholders of record as of January 22. Dividend Amount: 5c per share. Payment Date: February 9.