{"url_path":"/sec/ocg/10-k/2026/item-7","section_key":"item-7","section_title":"Item 7 MAJOR SHAREHOLDERS AND RELATED","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1776067/0001213900-26-056688-index.html","accession_number":"0001213900-26-056688","cik":"0001776067","ticker":"OCG","issuer_name":"Oriental Culture Holding LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/1776067/0001213900-26-056688-index.html","primary_entity_key":"0001776067","primary_entity_name":"Oriental Culture Holding LTD"},"word_count":1067,"has_tables":true,"body_markdown":"** **\n\n**ITEM 7. MAJOR SHAREHOLDERS AND RELATED\nPARTY TRANSACTIONS**\n\n \n\n**7.A. Major Shareholders**\n\n \n\nSee Item 6.E., “Share Ownership,”\nfor a description of our major shareholders.\n\n \n\n**7.B. Related Party Transactions**\n\n \n\nVariable Interest Entity Arrangements \n\n \n\nSee “*Item 4. Information on the Company—C.\nOrganizational Structure*.” \n\n \n\nEmployment Agreements, Director Agreements and\nIndemnification Agreements \n\n \n\nSee “*Item 6. Directors, Senior Management\nand Employees—B. Compensation of Directors and Executive Officers—Employment Agreements, Director Agreements and Indemnification\nAgreements.*” \n\n \n\na.Other receivables – related party\n\n \n\n \n \nRelationship\n \nNature\n \n**December 31,\n2025**\n \n \n**December 31,\n2024**\n \n\n \n \n \n \n \n \n \n \n \n \n \n\nJiangsu Yanggu\n \nThe Company’s VIE prior to November 2025. Mr. Yi Shao, legal representative of Jiangsu Yanggu and holds a 5% equity interest, is also the CEO and director of the Company. Mr. Aimin Kong, holds a 20% equity interest, also services as the COO of the Company.\n \nReceipts and payments on behalf of the Company*\n \n$\n     20,360,293\n \n \n$\n      -\n \n\nTotal\n \n \n \n \n \n$\n20,360,293\n \n \n$\n-\n \n\n \n\n*\n\nAs\nof the date of this report, the Company has recovered RMB125,884,430 ($17,909,805) of receivables\nfrom Jiangsu Yanggu. The Company is pursuing the collection and settlement of the outstanding\nbalance, which is expected to be fully settled by June 30, 2026.\n\n \n\nb. Amounts due to related parties consist of the\nfollowing:\n\n \n\n  \nRelationship \nNature \nDecember 31,\n2025  \nDecember 31,\n2024 \n\n  \n  \n  \n   \n  \n\nZhongcang Warehouse Co., Ltd. \nAn 18% subsidiary of Kashi Longrui \nPayable for storage fees \n$7  \n$   502 \n\nJiangsu Jinhanqi E-Commerce Co., Ltd.( Jiangsu Jinhanqi) \n24.48% owned by Nanjing Culture，a company of which Mr. Huajun Gao serves as general manager and director, and Mr. Aimin Kong serves as vice chairman. Mr. Huajun Gao and Mr. Aimin Kong each held a 2.6% beneficial ownership interest in the Company from May 31, 2024, and a 10.7% beneficial ownership interest prior to such date. \nReceived deposits and advance service fees from customers \n           282,348  \n - \n\nNanjing Culture \nMr. 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, 2024 and 10.7% beneficial shareholder prior to May 31, 2024 \nAdvance service fees from customers \n 14,227  \n - \n\nTotal \n  \n  \n$296,672  \n$502 \n\n \n\n92\n\n \n\n \n\nc. Net revenues – related parties consist\nof the following:\n\n \n\n  \nRelationship \nNature \nYear Ended\n\nDecember 31,\n\n2025  \nThe Period from\nJanuary 1, 2024 to\n\nMay 31,\n\n2024  \nYear Ended\n\nDecember 31,\n\n2023 \n\n  \n  \n  \n   \n   \n  \n\nNanjing Culture \nMr. 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, 2024 and 10.7% beneficial shareholder prior to May 31, 2024 \nSystem maintenance and technical support service fees \n$73,962  \n$12,824  \n$39,643 \n\nKashi Jinwang Art Purchase E-commerce Co., Ltd. \n100% owned by Nanjing Jinwang, a company controlled or owned by    Huajun Gao and/or Aimin Kong, each a 2.6% beneficial shareholder of the Company from May 31, 2024 and 10.7% beneficial shareholder prior to May 31, 2024 \nSystem maintenance and technical support service fees \n -  \n 41,809  \n 104,966 \n\nJiangsu Jinhanqi \n24.48% owned by Nanjing Culture，a company of which Mr. Huajun Gao serves as general manager and director, and Mr. Aimin Kong serves as vice chairman.\nMr. Huajun Gao and Mr. Aimin Kong each held a 2.6% beneficial ownership interest in the Company from May 31, 2024, and a 10.7% beneficial ownership interest prior to such date. \nSystem maintenance and technical support service fees \n 454,337  \n    \n   \n\nTotal \n  \n  \n$528,299  \n$54,633  \n$144,609 \n\n  \n\n93\n\n \n\n \n\nd. Cost of revenues – related party consists\nof the following:\n\n \n\n  \nRelationship \nNature \nYear Ended\nDecember 31,\n2025  \nYear Ended\nDecember 31,\n2024  \nYear Ended\nDecember 31,\n2023 \n\n  \n  \n  \n    \n    \n   \n\nZhongcang Warehouse Co., Ltd. \nAn 18% subsidiary of Kashi Longrui \nStorage fees \n$6  \n$21,075  \n$64,051 \n\n \n\n \n\ne. General and administrative expenses –\nrelated parties consist of the following:\n\n \n\n \n \nRelationship\n \nNature\n \n**Year Ended\nDecember 31,\n2025**\n \n \n**Year Ended\nDecember 31,\n2024**\n \n \n**Year Ended\nDecember 31,\n2023**\n \n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\nNanjing Culture\n \nMr. Huajun Gao, the general manager and director of Nanjing Culture, and Mr. Aimin Kong, the vice chairman of Nanjing Culture, each a 2.6% beneficial shareholder of the Company from May 31, 2024 and 10.7% beneficial shareholder prior to May 31, 2024\n \nRent expense.\n \n$\n      -\n \n \n$\n38,647\n \n \n$\n146,924\n \n\nHKFAEx\n \n100% owned by the Company’s former Chairman\n \nAccounting and business administration services.\n \n \n-\n \n \n$\n65,744\n \n \n$\n87,365\n \n\nTotal\n \n \n \n \n \n$\n-\n \n \n$\n104,391\n \n \n$\n234,289\n \n\n \n\n94\n\n \n\n \n\nf.\nOther income，net – related parties consist of the following:\n\n \n\n  \nRelationship \nNature \nYear Ended\nDecember 31,\n2025  \nYear Ended\nDecember 31,\n2024  \nYear Ended\nDecember 31,\n2023 \n\n  \n  \n  \n    \n    \n   \n\nJiangsu Jinhanqi E-Commerce Co., Ltd. \n24.48% owned by Nanjing Culture，a company of which Mr. Huajun Gao serves as general manager and director, and Mr. Aimin Kong serves as vice chairman.\nMr. Huajun Gao and Mr. Aimin Kong each held a 2.6% beneficial ownership interest in the Company from May 31, 2024, and a 10.7% beneficial ownership interest prior to such date. \nRental and property management fees, and car rental service fees \n$325,766  \n$                     -  \n$                    - \n\n \n\nThe Company entered into a Technical Maintenance\nService Contract with Jiangsu Jinhanqi, to provide daily technical support, application software troubleshooting, software upgrades, and\nother related services in fiscal year 2025. During the year ended December 31, 2025, the Company recognized system maintenance and technical\nsupport service revenue of $528,299 from Jinhanqi.\n\n \n\nDuring the years ended December 31, 2024 and 2023,\nHKDAEx paid approximately $66,000 and $87,000, respectively, to HKFAEx, a company owned by our chairman for accounting and business administration\nservices.\n\n \n\nThe Company entered into a non-cancellable Office\nPremises Use Contract with Nanjing Culture which is controlled by Huajun Gao and Aimin Kong, each is a 10.7% beneficial shareholder\nof the Company, for an office from January 1, 2020 to December 31, 2020 with a monthly rental of approximately $14,000 including\nVAT taxes. The Company renewed the lease under the same terms from January 1, 2021 to December 31, 2021 and then renewed again to December\n31, 2024. Nanjing Culture became a third party since June 2024. The monthly rent from January 2024 to May 2024 was renegotiated to approximately\n$7,700 per month. Total related party rental expense for the years ended December 31, 2025, 2024 and 2023 was approximately nil, $39,00\nand $147,000, respectively.\n\n \n\nFor the year ended December 31, 2025, the Company\nprovided office rental and car rental services to Jinhanqi. The Company recognized $156,226 as rental and property management service\nincome and $169,540 as car rental income, which were recorded in other income.\n\n** **\n\n**7.C. Interests of Experts and Counsel**\n\n** **\n\nNot applicable.** **"}