2023 Q4 Form 20-F Financial Statement

#000121390024036221 Filed on April 25, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022 Q4
Revenue $1.580M $766.4K
YoY Change -91.13% -94.17%
Cost Of Revenue $405.6K -$79.85K
YoY Change -59.29% -107.77%
Gross Profit $1.174M $846.3K
YoY Change -93.02% -93.01%
Gross Profit Margin 74.33% 110.42%
Selling, General & Admin $5.276M $3.331M
YoY Change -31.2% -69.57%
% of Gross Profit 449.2% 393.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $610.4K
YoY Change 79.36%
% of Gross Profit 51.97%
Operating Expenses $5.510M $3.331M
YoY Change -61.27% -69.57%
Operating Profit -$4.335M -$2.484M
YoY Change -267.43% -313.83%
Interest Expense $184.6K
YoY Change -20.99%
% of Operating Profit
Other Income/Expense, Net $751.8K -$83.21K
YoY Change 15.45% 166.02%
Pretax Income -$3.584M -$2.383M
YoY Change -210.59% -274.69%
Income Tax $14.83K $4.810K
% Of Pretax Income
Net Earnings -$3.598M -$2.388M
YoY Change -211.21% -275.04%
Net Earnings / Revenue -227.74% -311.55%
Basic Earnings Per Share -$0.84
Diluted Earnings Per Share -$0.84 -$0.11
COMMON SHARES
Basic Shares Outstanding 4.269M shares 4.269M shares 21.23M shares
Diluted Shares Outstanding 4.269M shares

Balance Sheet

Concept 2023 Q4 2023 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.19M
YoY Change -48.14%
Cash & Equivalents $17.68M $17.19M
Short-Term Investments $0.00
Other Short-Term Assets $17.10M
YoY Change 2750.0%
Inventory
Prepaid Expenses
Receivables $30.00K
Other Receivables $346.1K $7.860M
Total Short-Term Assets $37.89M $42.18M
YoY Change -10.17% 16.79%
LONG-TERM ASSETS
Property, Plant & Equipment $9.171M $9.424M
YoY Change -2.68% -4.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $930.0K
YoY Change -74.76%
Other Assets $1.566M $1.784M
YoY Change -12.18%
Total Long-Term Assets $10.74M $11.21M
YoY Change -4.19% -23.87%
TOTAL ASSETS
Total Short-Term Assets $37.89M $42.18M
Total Long-Term Assets $10.74M $11.21M
Total Assets $48.63M $53.39M
YoY Change -8.91% 5.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.959M
YoY Change 82.06%
Accrued Expenses $120.0K
YoY Change 944.39%
Deferred Revenue $181.9K $449.0K
YoY Change -59.48% -35.66%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.081M $3.762M
YoY Change -18.09% 3.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $10.00K
YoY Change
Total Long-Term Liabilities $10.00K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.081M $3.762M
Total Long-Term Liabilities $10.00K
Total Liabilities $3.081M $3.773M
YoY Change -18.34% 3.4%
SHAREHOLDERS EQUITY
Retained Earnings $24.69M $28.32M
YoY Change -12.81% 12.85%
Common Stock $1.543K $1.542K
YoY Change 0.06% 0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $481.00 $481.00
YoY Change 0.0% 0.0%
Treasury Stock Shares 9.610M shares
Shareholders Equity $45.55M $49.62M
YoY Change
Total Liabilities & Shareholders Equity $48.63M $53.39M
YoY Change -8.91% 5.02%

Cashflow Statement

Concept 2023 Q4 2023 2022 Q4
OPERATING ACTIVITIES
Net Income -$3.598M -$2.388M
YoY Change -211.21% -275.04%
Depreciation, Depletion And Amortization $610.4K
YoY Change 79.36%
Cash From Operating Activities $3.625M
YoY Change -399.21%
INVESTING ACTIVITIES
Capital Expenditures $192.8K
YoY Change -72.8%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$511.2K
YoY Change -184.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $600.0K
YoY Change -40.0%
NET CHANGE
Cash From Operating Activities $3.625M
Cash From Investing Activities -$511.2K
Cash From Financing Activities $600.0K
Net Change In Cash $3.439M
YoY Change -933.15%
FREE CASH FLOW
Cash From Operating Activities $3.625M
Capital Expenditures $192.8K
Free Cash Flow $3.432M
YoY Change -278.71%

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 – Nature of business and organization</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Oriental Culture Holding Ltd. (“Oriental Culture”) is a holding company incorporated on November 29, 2018, under the laws of the Cayman Islands. Oriental Culture Holding Ltd., its subsidiaries and variable interest entity (“VIE”) and its subsidiaries are hereafter referred to as the “Company”.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Oriental Culture has no substantial operations other than holding all of the outstanding share capital of Oriental Culture Development (“Oriental Culture BVI”), China International Assets and Equity of Artworks Exchange Limited (“International Culture”) and HKDAEx Limited. Oriental Culture BVI is also a holding company holding all of the outstanding share capital of HK Oriental Culture Investment Development Limited (“Oriental Culture HK”). Oriental Culture HK is also a holding company holding all of the outstanding equity of Nanjing Rongke Business Consulting Service Co., Ltd. (“Oriental Culture WFOE” or “WFOE”).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company, through its direct subsidiary Oriental Culture HK and VIE, Jiangsu Yanggu Culture Development Co., Ltd. and subsidiaries (“Jiangsu Yanggu”) and International Culture are engaged in providing online platforms that facilitate the e-commerce trading of artwork and collectables and the online trading of commodities, principally teas. The Company’s headquarters were located in the City of Nanjing, in the People’s Republic of China (the “PRC” or “China”). All of the Company’s business activities are carried out by Oriental Culture HK, Jiangsu Yanggu and Jiangsu Yanggu’s subsidiaries.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 8, 2019, Oriental Culture completed its reorganization of entities under common control of various shareholders, who collectively owned 100% of the equity interests of Oriental Culture prior to the reorganization. Oriental Culture, Oriental Culture BVI, and Oriental Culture HK, were established as the holding companies of Oriental Culture WFOE. Oriental Culture WFOE is the primary beneficiary of Jiangsu Yanggu and its subsidiaries. Prior to the reorganization, Jiangsu Yanggu and International Culture were under common control, as the same group of shareholders held more than 50% of the voting ownership interest of each entity, and contemporaneous written evidence of agreements to vote a majority of the entities’ shares in concert exists. Oriental Culture, International Culture and Jiangsu Yanggu were under common control, which resulted in the consolidation of International Culture and Jiangsu Yanggu, which was accounted for as a reorganization of entities under common control at their carrying values.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 9, 2019, the Company acquired all outstanding equity interest of HKDAEx Limited (“HKDAEx”), which provides the Company’s customers with an additional online trading platform in Hong Kong. Therefore, starting in second half of 2019, the Company expanded its business operations to include online trading of certain commodities, primarily teas on the platform of HKDAEx.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">Contractual Arrangements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the PRC, investment activities by foreign investors are principally governed by the Special Administrative Measures (Negative List) for Foreign Investment Access which is updated from time to time by MOFCOM and NDRC. In June, 2020, the MOFCOM and the NDRC promulgated the Special Administrative Measures (Negative List) for Foreign Investment Access (2020 Version), or the Negative List, which became effective on July 23, 2020. On December 27, 2020, the Special Administrative Measures for foreign investment access (Negative List) (2021 version) was issued and became effective on January 1, 2022, replacing the Special Administrative Measures for foreign investment access (Negative List) (2020 version). The Negative List divides industries into two categories: restricted and prohibited. Industries not listed in the Negative List are generally open to foreign investment unless specifically restricted by other PRC regulations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Oriental Culture is a Cayman Islands company and its subsidiaries including Oriental Culture WFOE is considered a foreign invested enterprise. Although the business the Company conducts through Jiangsu Yanggu is not within the category in which foreign investment is currently restricted or prohibited under the Negative List or other PRC Laws, the Company expects that in the future Jiangsu Yanggu will engage in marketing survey services for online marketplaces. Marketing survey services are within the category in which foreign investment is restricted pursuant to the Negative List. In addition, the Company intends to centralize the Company’s management and operations in the PRC to avoid being restricted to conduct certain business activities which are important for the Company’s current or future business but are currently restricted or might be restricted in the future. As such, Jiangsu Yanggu is controlled through contractual arrangements in lieu of direct equity ownership by the Company or any of its subsidiaries. Such contractual arrangements are comprised of a series of four agreements (collectively the “Contractual Arrangements”), of which the significant terms are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Contractual Agreements with Jiangsu Yanggu</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Technical Consultation and Services Agreement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the technical consultation and services agreement between Oriental Culture WFOE and Jiangsu Yanggu, Oriental Culture WFOE has the exclusive right to provide consultation and services to Jiangsu Yanggu in the areas of management, human resources, technology and intellectual property rights. For such services, Jiangsu Yanggu agrees to pay service fees of 100% of its net income to Oriental Culture WFOE and also Oriental Culture WFOE has the obligation to absorb 100% of the losses of Jiangsu Yanggu.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The WFOE exclusively owns any intellectual property rights arising from the performance of this Technical Consultation and Services Agreement. The term of the Technical Consultation and Service Agreement is 20 years until May 7, 2039. Oriental Culture WFOE may terminate this agreement at any time by giving 30 days’ written notice to Jiangsu Yanggu.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">  </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Equity Pledge Agreement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Equity Pledge Agreements among Oriental Culture WFOE, Jiangsu Yanggu and Jiangsu Yanggu’s shareholders dated May 8, 2019, each of Jiangsu Yanggu’s shareholders pledged all of their equity interests in Jiangsu Yanggu to Oriental Culture WFOE to guarantee Jiangsu Yanggu’s performance of relevant obligations and indebtedness under the Technical Consultation and Services Agreement and other agreements. If Jiangsu Yanggu breaches its obligations under the Contractual Agreements, Oriental Culture WFOE, as pledgee, will be entitled to certain rights, including the right to dispose of the pledged equity interests in order to recover the damages associated with such breach. The pledge is valid until all of Jiangsu Yanggu’s shareholders are no longer shareholders of Jiangsu Yanggu, or until the satisfaction of all Jiangsu Yanggu’s obligations under the Contractual Agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Equity Option Agreement</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Equity Option Agreement among Oriental Culture WFOE, Jiangsu Yanggu and Jiangsu Yanggu’s shareholders dated May 8, 2019, Oriental Culture WFOE has the exclusive right to require Jiangsu Yanggu’s shareholders to fulfill and complete all approval and registration procedures required under PRC laws for Oriental Culture WFOE to purchase, or designate one or more persons to purchase, each shareholders’ equity interests in Jiangsu Yanggu, in one or multiple transactions, at any time or from time to time, at Oriental Culture WFOE’s sole and absolute discretion. The purchase price shall be the lowest price allowed by PRC laws. The Equity Option Agreement shall remain effective until all the equity interests owned by Jiangsu Yanggu’s shareholders have been legally transferred to Oriental Culture WFOE or its designee(s).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Voting Rights Proxy and Financial Supporting Agreements</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the voting rights proxy and financial supporting agreements, as amended, among the shareholders of Jiangsu Yanggu and Oriental Culture WFOE, Jiangsu Yanggu’s shareholders have given Oriental Culture WFOE an irrevocable proxy to act on their behalf on all matters pertaining to Jiangsu Yanggu and to exercise all of their rights as shareholders of Jiangsu Yanggu, including the right to attend shareholders meeting, to exercise voting rights and to transfer all or a part of their equity interests in Jiangsu Yanggu. In consideration of such granted rights, Oriental Culture WFOE agrees to provide the necessary financial support to Jiangsu Yanggu whether or not Jiangsu Yanggu incurs losses, and agrees not to request repayment if Jiangsu Yanggu is unable to do so. The agreements is in effect for 20 years until May 7, 2039. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the foregoing contractual arrangements, which grant Oriental Culture WFOE effective control of Jiangsu Yanggu and its subsidiaries and obligates Oriental Culture WFOE to absorb 100% of the risk of loss from its activities, as well as enable Oriental Culture WFOE to receive 100% of the expected residual returns, the Company accounts for Jiangsu Yanggu and its subsidiaries as VIEs. Accordingly, the Company consolidates the accounts of Jiangsu Yanggu and its subsidiaries in accordance with Regulation S-X-3A-02 promulgated by the Securities Exchange Commission (“SEC”), and the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Section 810-10, Consolidation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 28, 2021, Oriental Culture WFOE entered into an Amended and Restated Equity Pledge Agreement, an Amended and Restated Equity Option Agreement, and an Amended and Restated Voting Rights Proxy and Financial Supporting Agreement (“Amended and Restated VIE Agreements”) with Jiangsu Yanggu and all shareholders of Jiangsu Yanggu in order to amend and restate the Equity Pledge Agreement, Equity Option Agreement, and Voting Rights Proxy and Financial Supporting Agreement originally entered by the parties in May, 2019 (“Original VIE Agreements”). The Amended and Restated VIE Agreements were made principally to reflect a change of the share ownership of Jiangsu Yanggu as a result of the transfer by Mr. Weipeng Liang of his 10% equity interest in Jiangsu Yanggu to Ms. Yuanyuan Xiao on January 28, 2021. Except for the change of the share ownership of Jiangsu Yanggu due to such equity transfer, there are no other changes to the terms of the Original VIE Agreements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial statements reflect the activities of the Company and each of the following entities:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border-bottom: black 1.5pt solid; vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt"><b>Name</b></span></td> <td style="vertical-align: bottom"> </td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: center"><span style="font-size: 10pt"><b>Background</b></span></td> <td style="vertical-align: bottom"> </td> <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Ownership</b></span></td></tr> <tr> <td style="vertical-align: top; width: 25%; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">China International Assets and Equity of Artworks Exchange Limited (“International Culture”)</span></td> <td style="vertical-align: bottom; width: 2%"> </td> <td style="vertical-align: bottom; width: 50%"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A Hong Kong company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on November 22, 2013, commenced operations in March 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Engages in providing an online platform that facilitates e-commerce of collectible and artwork trading</p></td> <td style="vertical-align: bottom; width: 2%"> </td> <td style="width: 21%"><span style="font-size: 10pt">100%</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">HKDAEx Limited (“HKDAEx”)</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A Hong Kong company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on April 18, 2018</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Engages in providing an online platform that facilitates e-commerce of certain commodities trading</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100%</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Oriental Culture BVI</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A British Virgin Islands company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on December 6, 2018</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100%</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Oriental Culture HK</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A Hong Kong company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on January 3, 2019</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100% owned by Oriental Culture BVI</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Oriental Culture WFOE</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”)</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on May 7, 2019</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100% owned by Oriental Culture HK</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Jiangsu Yanggu</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A PRC limited liability company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on August 23, 2017, commenced operations in March 2018.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Holding company of Nanjing Yanyu and Nanjing Yanqing</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">VIE of Oriental Culture WFOE</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Nanjing Yanyu Information Technology Co., Ltd. (“Nanjing Yanyu”)</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A PRC limited liability company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on June 7, 2018</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Provides support services to Jiangsu Yanggu, International Culture, HKDAEx, Kashi Longrui and Kashi Dongfang</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100% owned by Jiangsu Yanggu</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Nanjing Yanqing Information Technology Co., Ltd. (“Nanjing Yanqing”)</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A PRC limited liability company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on May 17, 2018</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Holding company of Kashi Longrui and Kashi Dongfang</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100% owned by Jiangsu Yanggu</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Kashi Longrui Business Management Service Co., Ltd. (“Kashi Longrui”)</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A PRC limited liability company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on July 19, 2018</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Operating entity provides marketing services</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100% owned by Nanjing Yanqing</span></td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; padding-left: 9pt; text-indent: -9pt"><span style="font-size: 10pt">Kashi Dongfang Cangpin Culture Development Co., Ltd. (“Kashi Dongfang”)</span></td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     A PRC limited liability company</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Incorporated on August 29, 2018</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: -0.25in">●     Operating entity provides listing and warehouse services</p></td> <td style="vertical-align: bottom"> </td> <td><span style="font-size: 10pt">100% owned by Nanjing Yanqing</span></td></tr> </table>
CY2023Q4 srt Financing Receivable Nonaccrual To Outstanding Percent
FinancingReceivableNonaccrualToOutstandingPercent
1 pure
CY2021Q1 us-gaap Members Equity Attributable To Noncontrolling Interest
MembersEquityAttributableToNoncontrollingInterest
10 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Use of estimates and assumptions </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated financial statements include revenue recognition, allowance for credit losses, the useful lives of property and equipment and intangible assets and impairment of long-lived assets. Actual results could differ from these estimates.</p>
CY2023Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
7.08
CY2022Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
6.96
CY2023Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
7.05
CY2022Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
6.73
CY2021Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
6.45
CY2023Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
7.81
CY2022Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
7.8
CY2022Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
7.83
CY2021Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
7.83
CY2020Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
7.77
CY2023Q4 us-gaap Restricted Investments
RestrictedInvestments
4988772 usd
CY2022Q4 us-gaap Restricted Investments
RestrictedInvestments
4703323 usd
CY2023 ocg Investment Maturity Period
InvestmentMaturityPeriod
P1Y
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
14740676 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
11796388 usd
CY2023 ocg Proceeds From Sale Of Short Term Investment
ProceedsFromSaleOfShortTermInvestment
89474 usd
CY2022 ocg Proceeds From Sale Of Short Term Investment
ProceedsFromSaleOfShortTermInvestment
156066 usd
CY2021 ocg Proceeds From Sale Of Short Term Investment
ProceedsFromSaleOfShortTermInvestment
169065 usd
CY2023Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
1741423 usd
CY2022Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
4703323 usd
CY2023 ocg Outstanding Balance Paid
OutstandingBalancePaid
200000 usd
CY2020Q4 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
600000 usd
CY2023Q1 ocg Released Amount
ReleasedAmount
600000 usd
CY2023Q4 us-gaap Long Term Investments
LongTermInvestments
917002 usd
CY2022Q4 us-gaap Long Term Investments
LongTermInvestments
932552 usd
CY2023Q4 ocg Leasehold Improvements
LeaseholdImprovements
lesser of lease term or expected useful life
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
25590 usd
CY2022Q1 us-gaap Capital
Capital
60000000 cny
CY2022Q1 us-gaap Capital
Capital
9200000 usd
CY2022Q1 ocg Subscription Amount
SubscriptionAmount
6000000 cny
CY2022Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
3000000 cny
CY2023Q4 ocg Remaining Registered Capital
RemainingRegisteredCapital
3000000 cny
CY2023Q4 us-gaap Other Investments
OtherInvestments
423567 usd
CY2022Q4 us-gaap Other Investments
OtherInvestments
430750 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
449037 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
697863 usd
CY2023 ocg Customer Advances
CustomerAdvances
1302736 usd
CY2022 ocg Customer Advances
CustomerAdvances
16803450 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-1363629 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-16993268 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-194841 usd
CY2023 ocg Effect Of Exchange Rate Cash
EffectOfExchangeRateCash
-11373 usd
CY2022 ocg Effect Of Exchange Rate Cash
EffectOfExchangeRateCash
-59008 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
181930 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
449037 usd
CY2021 ocg Gross Revenue Generated From Contracts
GrossRevenueGeneratedFromContracts
119000 usd
CY2023 ocg Transaction Fee Revenue
TransactionFeeRevenue
1800 usd
CY2022 ocg Transaction Fee Revenue
TransactionFeeRevenue
1100000 usd
CY2021 ocg Transaction Fee Revenue
TransactionFeeRevenue
3400000 usd
CY2023 ocg Other Revenues
OtherRevenues
144609 usd
CY2022 ocg Other Revenues
OtherRevenues
166325 usd
CY2021 ocg Other Revenues
OtherRevenues
233157 usd
CY2023 us-gaap Revenues
Revenues
1580058 usd
CY2022 us-gaap Revenues
Revenues
17813139 usd
CY2021 us-gaap Revenues
Revenues
37596460 usd
CY2023 us-gaap Interest Income Other
InterestIncomeOther
290000 usd
CY2022 us-gaap Interest Income Other
InterestIncomeOther
269000 usd
CY2021 us-gaap Interest Income Other
InterestIncomeOther
193000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
43590 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
359968 usd
CY2023 ocg Value Added Tax Percentage Rate
ValueAddedTaxPercentageRate
0.06 pure
CY2023 ocg Tax Benefit Percentage
TaxBenefitPercentage
0.50 pure
CY2023 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Leases</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company adopted FASB ASU 2016-02, “Leases” (Topic 842) for the year ended December 31, 2021, and elected the practical expedients that does not require us to reassess: (1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. For lease terms of twelve months or less, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. The Company also adopted the practical expedient that allows lessees to treat the lease and non-lease components of a lease as a single lease component. Upon adoption, the Company recognized $34,608 of a right of use (“ROU”) assets and same amount of lease liabilities based on the present value of the future minimum rental payments of leases, using an incremental borrowing rate of 4.75% based on the duration of lease terms.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating lease ROU assets and lease liabilities are recognized at the adoption date or the commencement date, whichever is earlier, based on the present value of lease payments over the lease term. Since the implicit rate for the Company’s leases is not readily determinable, the Company used its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company reviews for impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows.</p>
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
34608 usd
CY2021 us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.0475 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Deductions Other
EffectiveIncomeTaxRateReconciliationDeductionsOther
0.10 pure
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
207 usd
CY2023 ocg Statutory Surplus Reserve Fund
statutorySurplusReserveFund
0.10 pure
CY2023 ocg Registered Capital Percentage
RegisteredCapitalPercentage
0.50 pure
CY2021 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
0 usd
CY2023 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
125077 usd
CY2022 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
124856 usd
CY2021 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
105565 usd
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 pure
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
9135 usd
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
16296 usd
CY2022Q4 ocg Employee Advances And Others
EmployeeAdvancesAndOthers
2799874 usd
CY2023Q4 ocg Prepaid Taxes And Services Fees
PrepaidTaxesAndServicesFees
14628 usd
CY2022Q4 ocg Prepaid Taxes And Services Fees
PrepaidTaxesAndServicesFees
915242 usd
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
88567 usd
CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
63682 usd
CY2021Q1 us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.10 pure
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
42357 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
43282 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
42357 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
43075 usd
CY2023Q4 ocg Prepaid Service Fee
PrepaidServiceFee
21375 usd
CY2022Q4 ocg Prepaid Service Fee
PrepaidServiceFee
646852 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
133705 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4441946 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1033670 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
758044 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9171106 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9423713 usd
CY2023 us-gaap Depreciation
Depreciation
288862 usd
CY2022 us-gaap Depreciation
Depreciation
340296 usd
CY2021 us-gaap Depreciation
Depreciation
186551 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1238821 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
914415 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
529645 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
816885 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
324405 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
314413 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
212672 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
201423 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
169639 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
144188 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9899 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3495 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1001 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
529645 usd
CY2023Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
155327 usd
CY2022Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
157961 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
93372 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
97052 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27715 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
35137 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
276414 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
290150 usd
CY2021 us-gaap Partners Capital Account Return Of Capital
PartnersCapitalAccountReturnOfCapital
314000 usd
CY2021 ocg Increase Decrease In Deferred Revenue And Customer Advance And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvanceAndDeposits
119000 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
39533 usd
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
40203 usd
CY2023 ocg Withholding Tax Rate
WithholdingTaxRate
0.10 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.10 pure
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
41291171 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
42087930 usd
CY2023 ocg Prc Enterprise Income Tax Rate
PRCEnterpriseIncomeTaxRate
0.25 pure
CY2023 ocg Board Members Voting Percentage
BoardMembersVotingPercentage
0.50 pure
CY2023 ocg Income Tax Maturity
IncomeTaxMaturity
P5Y
CY2022 ocg Tax Savings Amount
TaxSavingsAmount
1933000 usd
CY2021 ocg Tax Savings Amount
TaxSavingsAmount
4198000 usd
CY2022 ocg Decrease In Earnings Per Share Basic
DecreaseInEarningsPerShareBasic
0.5
CY2022 ocg Decrease In Earnings Per Share Diluted
DecreaseInEarningsPerShareDiluted
0.5
CY2021 ocg Decrease In Earnings Per Share Basic
DecreaseInEarningsPerShareBasic
0.2
CY2021 ocg Decrease In Earnings Per Share Diluted
DecreaseInEarningsPerShareDiluted
0.2
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
0.211 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.254 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.038 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.004 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.001 pure
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
1122569 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
961468 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
10589 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
10769 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1133158 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
972237 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
972237 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
847735 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
160921 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
124502 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1133158 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
972237 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
4514000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
4521000 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
8852 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
6858 usd
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
4906 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
6514 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3067 usd
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
16825 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
13372 usd
CY2023 ocg Schedule Of Accounts Receivable Related Parties
ScheduleOfAccountsReceivableRelatedParties
Accounts receivable – related parties, net consist of the following:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Relationship</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nature</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>December 31,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2023</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>December 31,</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2022</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td> </td><td> </td> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 34%; text-align: left; text-indent: -9pt; padding-left: 9pt">Nanjing Culture Exchange Art Property Exchange Co., Ltd. (“Nanjing Culture”)</td><td style="width: 1%"> </td> <td style="width: 20%; text-align: left">Mr. Huajun Gao, the general manager and director of Nanjing Culture, and Mr. Aimin Kong, the vice chairman of Nanjing Culture, each beneficially owns 10.7% shares of the Company</td><td style="width: 1%"> </td> <td style="vertical-align: top; width: 20%; text-align: left">Receivable from technological service fee revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">            -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">16,345</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Jinling Cultural Property Exchange Co., Ltd.(“Jinling Cultural”)*</td><td style="padding-bottom: 1.5pt"> </td> <td style="text-align: left; padding-bottom: 1.5pt">It is owned by Huajun Gao and Aimin Kong, each a 10.7% beneficial shareholder of the Company</td><td style="padding-bottom: 1.5pt"> </td> <td style="vertical-align: top; text-align: left; padding-bottom: 1.5pt">Receivable from technological service fee revenue</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,966</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">29,311</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2023 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10362 usd
CY2023Q4 us-gaap Other Receivables
OtherReceivables
200000 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
400 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
3262 usd
CY2023 ocg Schedule Of Cost Of Revenues
ScheduleOfCostOfRevenues
Cost of revenues – related party consists of the following:<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left; vertical-align: top"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Relationship</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Nature</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended<br/> December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended<br/> December 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Year Ended<br/> December 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; width: 29%; vertical-align: top"> </td><td style="width: 1%"> </td> <td style="width: 18%; text-align: center"> </td><td style="width: 1%"> </td> <td style="width: 15%"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Zhongcang Warehouse Co., Ltd.</td><td> </td> <td style="text-align: left">An 18% subsidiary of the VIE of the Company</td><td> </td> <td style="vertical-align: top; text-align: left">Storage fees</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">64,051</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">304,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">730,006</td><td style="text-align: left"> </td></tr> </table>
CY2023 ocg Actual Usage Percentage
ActualUsagePercentage
0.017 pure
us-gaap Contracts In Force Subject To Participation Through Reinsurance Percentage
ContractsInForceSubjectToParticipationThroughReinsurancePercentage
0.0225 pure
us-gaap Contracts In Force Subject To Participation Through Reinsurance Percentage
ContractsInForceSubjectToParticipationThroughReinsurancePercentage
0.015 pure
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
87000 usd
CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
87000 usd
CY2021 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
65000 usd
CY2023Q4 ocg Percentage Of Beneficial Shareholder
PercentageOfBeneficialShareholder
0.107 pure
CY2023 ocg Monthly Rental Expense
MonthlyRentalExpense
14000 usd
CY2023 ocg Renegotiated Rent
RenegotiatedRent
8600 usd
CY2023 us-gaap Payments For Rent
PaymentsForRent
3900 usd
CY2020 ocg Total Rental Expense
TotalRentalExpense
147000 usd
CY2022 ocg Total Rental Expense
TotalRentalExpense
151000 usd
CY2021 ocg Total Rental Expense
TotalRentalExpense
158000 usd
CY2023 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
the shareholders of the Company adopted the Second Amended and Restated Articles of Association to effect a 2 for 1 forward share split of the total authorized and issued and outstanding shares of the Company. As a result of the 2 for 1 forward share split, the Company’s total authorized shares are 1,000,000,000 shares comprising of (i) 900,000,000 ordinary shares with a par value of $0.00005 each and (ii) 100,000,000 preferred shares with a par value of $0.00005 each, and the Company’s issued and outstanding ordinary shares increased from 12,400,000 shares to 24,800,000 shares. In addition, all existing shareholders agreed to surrender to the Company as treasury shares, 12.5% of the then outstanding ordinary shares (3,100,000 ordinary shares) for no consideration.
CY2020Q2 ocg Surrender Additional Ordinary Shares
SurrenderAdditionalOrdinaryShares
6510000 shares
CY2020Q2 ocg Percentage Of Outstanding Ordinary Shares
PercentageOfOutstandingOrdinaryShares
0.30 pure
CY2023 ocg Description Of Authorized Share Capital
DescriptionOfAuthorizedShareCapital
the authorized share capital of the Company changed from (a) US$50,000 divided into 1,000,000,000 shares with a par value of US$0.00005 per share of which (x) 900,000,000 shares are designated as ordinary shares with a par value of US$0.00005 per share and (y) 100,000,000 shares are designated as preferred shares with a par value of US$0.00005 per share, to (b) US$50,000 divided into 280,000,000 shares of which (x) 180,000,000 shares are designated as ordinary shares with par value of US$0.00025 per share and (y)100,000,000 shares are designated as preferred shares with par value of US$0.00005 per share. The Company’s financial statements have been retroactively stated to reflect the consolidation from the beginning of periods.
CY2020Q4 ocg Initial Public Offering Ordinary Shares
InitialPublicOfferingOrdinaryShares
1013000 shares
CY2020Q4 ocg Initial Public Option Share
InitialPublicOptionShare
11880 shares
CY2020Q4 ocg Initial Public Offering Price Per Share
InitialPublicOfferingPricePerShare
20
CY2020Q4 ocg Initial Public Offering Price Per Value Share
InitialPublicOfferingPricePerValueShare
0.00025 shares
CY2020 ocg Proceeds Put Into Escrow Account
ProceedsPutIntoEscrowAccount
81991 usd
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
25
CY2020Q4 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
81991 usd
CY2020Q4 ocg Warrants Issuance Of Ordinary Shares
WarrantsIssuanceOfOrdinaryShares
26103 shares
CY2021Q4 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
120000 usd
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
25
CY2021Q4 ocg Aggregate Offering Price
AggregateOfferingPrice
120000 shares
CY2021Q4 ocg Exercise Price
ExercisePrice
30
CY2021Q4 us-gaap Shares Issued
SharesIssued
600000 shares
CY2021 ocg Net Proceed
NetProceed
2000000 usd
CY2021 us-gaap Preferred Stock Amount Of Preferred Dividends In Arrears
PreferredStockAmountOfPreferredDividendsInArrears
1000000 usd
CY2022Q2 ocg Agreegated Shares
AgreegatedShares
36456 shares
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
92960 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
464814 usd
CY2023 us-gaap Equity Fair Value Adjustment
EquityFairValueAdjustment
557777 usd
CY2022Q4 us-gaap Option Contract Indexed To Equity Settlement Share Fair Value Per Share
OptionContractIndexedToEquitySettlementShareFairValuePerShare
15.3
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
120000 shares
CY2021 ocg Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGrantedWeightedAverageExercisePrice
30
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
120000 shares
CY2021Q4 ocg Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
30
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
120000 shares
CY2022 ocg Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirationsWeightedAverageExercisePrice
30
CY2023 ocg After Tax Percentage
AfterTaxPercentage
0.10 pure
CY2023 ocg Reserve Funds Interest
ReserveFundsInterest
0.50 pure
CY2023Q4 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries
40007340 usd
CY2023 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4000000 usd
CY2023 ocg Lease Commitment Description
LeaseCommitmentDescription
These lease agreements have lease terms expiring between end of June 2022 and July 2024 with a monthly rental of approximately $1,900, $8,600 and $3,900, respectively.
CY2021Q1 ocg Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
11500 usd
CY2021Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
11500 usd
CY2021Q1 ocg Incremental Borrowing Rate
IncrementalBorrowingRate
0.0475 pure
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11522 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11522 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
45 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
11477 usd
CY2023 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
177189 usd
CY2022 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
179552 usd
CY2021 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
186834 usd
CY2023 dei Document Accounting Standard
DocumentAccountingStandard
U.S. GAAP
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
usd
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