Oriental Culture Holding LTD (OCG) ends PRC case and unfreezes key accounts

Rhea-AI Filing Summary

Oriental Culture Holding LTD reports that Chinese authorities have withdrawn all criminal charges involving two former major shareholders and a related party platform operator. Prosecutors moved to drop the case in May 2025 due to lack of evidence, and the court approved the withdrawal of charges against Nanjing Jinwang Art Purchase E-commerce, Huajun Gao, and Aimin Kong. The company’s PRC counsel states the investigation and case are now officially closed. Bank accounts for Nanjing Jinwang and for three China-based affiliates connected to the company’s variable interest entity, which had been frozen since July 2022 and held customer security deposits for trading on the company’s platforms, were unfrozen by local public security authorities in May 2025.

Positive

• PRC prosecutors withdrew charges and closed the case involving Nanjing Jinwang and two former major shareholders due to lack of evidence, reducing legal uncertainty for Oriental Culture Holding LTD.
• Previously frozen bank accounts were unfrozen in May 2025 for Nanjing Jinwang and three China-based affiliates connected to the company’s variable interest entity, restoring access to customer security deposits and related operating funds.

Negative

• None.

Insights

Cross-border legal and governance analyst

Resolution of a long-running PRC case removes legal overhang and restores access to key accounts.

The company explains that a PRC criminal matter involving two former major shareholders and related-party platform operator Nanjing Jinwang has been fully withdrawn by prosecutors due to lack of evidence, with the court approving the withdrawal. This closes a process that began in July 2022 with detentions and formal arrests related to alleged illegal online business operations.

Operationally, the filing notes that Nanjing Jinwang escrowed customer security deposits used to trade on the company’s online platforms, and that its bank accounts, along with accounts of three China affiliates tied to the variable interest entity, were frozen by local public security authorities. These accounts were unfrozen in May 2025, which likely normalizes cash access and reduces friction around customer funds and affiliate operations.

From a risk perspective, the closure of the investigation and the unfreezing of accounts reduce uncertainty around regulatory and legal exposure in China that had persisted since 2022. Future disclosures in periodic reports can clarify how quickly trading activity, customer behavior, and cash flows through these entities stabilize following the formal end of the case.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of September 2025

Commission File Number: 001-39734

Oriental Culture Holding LTD.

Room 1310, Tower B, Harbour View Building

Eastern District, Hong Kong

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ☒     Form 40-F ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

As previously disclosed by Oriental Culture Holding LTD, a Cayman Islands Company (the “Company”), Mr. Huajun Gao and Mr. Aimin Kong, each of whom was a major shareholder of the Company at the time, were detained by Nan County Public Safety Bureau of Yiyang City, Hunan Province, China on July 1, 2022. On July 26, 2022, Nan County People’s Procuratorate (“NCPP”) approved the arrest of Mr. Gao and Mr. Kong, charging them with assisting in illegal online business operation of Nanjing Jinwang Art Purchase E-commerce Co., Ltd. (“Nanjing Jinwang”) and prosecuted them to Nan County People’s Court (the “Court”) in August 2023. On July 1, 2022, the bank accounts of Nanjing Jinwang were frozen by Nan County Public Safety Bureau, including a trust account into which the customers of the Company deposited their security deposits in order to trade on the Company’s online trading platforms which the Company has entrusted Nanjing Jinwang for escrow. Also, on July 1, 2022, Nan County Public Safety Bureau froze certain bank accounts of Kashi Longrui Business Management Services Co., Ltd. (“Kashi Longrui”), Kashi Dongfang Cangpin Culture Development Co., Ltd. (“Kashi Dongfang”) and Nanjing Yanyu Information Technology Co., Ltd. (“Nanjing Yanyu”), all subsidiaries of Jiangsu Yanggu Culture Development Co., Ltd., the variable interest entity of the Company in China because they, each had business relationship with Nanjing Jinwang.

The Court had the hearing in August 2023 and trial in January 2024 and both of Mr. Gao and Mr. Kong were released on bail waiting for the judgement of the Court in February 2024. On May 5, 2025, NCPP filed with the Court to withdraw the charges against Nanjing Jinwang, Mr. Gao and Mr. Kong due to lack of evidence to press the charges. On May 8, 2025, the Court ordered and granted the withdrawal of charges against Nanjing Jinwang, Mr. Gao and Mr. Kong by NCCP.

On May 15, 2025, Nan County Public Safety Bureau unfroze the bank account of Nanjing Jinwang, a related party of the Company.

On May 15, 2025, Nan County Public Safety Bureau unfroze the bank accounts of Kashi Longrui, Kashi Dongfang and Nanjing Yanyu.

On May 28, 2025, NCCP determined it would not seek to file any charges against Nanjing Jinwang, Mr. Aimin Kong and Mr. Huajun Gao. The investigation and case have been officially closed according to the PRC counsel of the Company, Tahota (Nanjing) Law Firm.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Oriental Culture Holding LTD
Date: September 8, 2025	By:	/s/ Yi Shao
	Name:	Yi Shao
	Title:	Chief Executive Officer

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FAQ

What legal development does Oriental Culture Holding LTD (OCG) report in this update?

The company reports that Chinese prosecutors moved in May 2025 to withdraw all charges against Nanjing Jinwang Art Purchase E-commerce and former major shareholders Huajun Gao and Aimin Kong due to lack of evidence, and the court approved the withdrawal, with the investigation now officially closed.

Who were the individuals and entities involved in the PRC case affecting Oriental Culture Holding LTD (OCG)?

The case involved former major shareholders Huajun Gao and Aimin Kong, and Nanjing Jinwang Art Purchase E-commerce Co., Ltd., which provided escrow services for customer security deposits on the company’s online trading platforms.

What happened to the bank accounts connected to Oriental Culture Holding LTD’s operations in China?

On July 1, 2022, bank accounts of Nanjing Jinwang and of three affiliates—Kashi Longrui, Kashi Dongfang, and Nanjing Yanyu—were frozen by local public security authorities. On May 15, 2025, those accounts were unfrozen.

How were Oriental Culture Holding LTD’s customer funds affected by the account freeze?

Customer security deposits for trading on the company’s online platforms were held in a trust account at Nanjing Jinwang, which was among the accounts frozen in July 2022 and later unfrozen in May 2025.

What is the current status of the investigation related to Nanjing Jinwang and Oriental Culture Holding LTD’s former major shareholders?

According to the company’s PRC counsel, Tahota (Nanjing) Law Firm, the investigation and case have been officially closed after prosecutors decided on May 28, 2025 not to seek any charges.

When were the former major shareholders of Oriental Culture Holding LTD detained and later released?

Former major shareholders Huajun Gao and Aimin Kong were detained on July 1, 2022, later had a hearing in August 2023 and a trial in January 2024, and were released on bail in February 2024 pending the court’s judgement before charges were ultimately withdrawn.