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Oriental Culture Holdings Ltd (OCG)

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Last Post: 3/30/2022 5:01:26 AM - Followers: 6 - Board type: Free - Posts Today: 0

November 2021- Semi-Annual Earnings Report:

HONG KONG, Nov. 2, 2021 /PRNewswire/ -- Oriental Culture Holding LTD. ("OCG" or the "Company") (NASDAQ: OCG), a leading online provider of collectibles and artwork e-commerce services, today announced its unaudited financial results for the six months ended June 30, 2021.

First Half Year of 2021 Financial Highlights

  • Total revenues were approximately $24.5 million for the six months ended June 30, 2021, representing an increase of 891.1 % compared with the total revenues of approximately $2.5 million for the six months ended June 30, 2020.

    Gross profit was approximately $23.1 million for the six months ended June 30, 2021, representing an increase of 1,011.2% compared with approximately gross profit of $2.1 million for the six months ended June 30, 2020.

    Gross margin was 94.3% for the six months ended June 30, 2021, representing an increase of 10.2 % points compared with a gross margin of 84.1% for the six months ended June 30, 2020.

    Income from operations was approximately $9.7 million for the six months ended June 30, 2021, representing an increase of 3,750.6 % compared with income from operations of approximately $0.3 million for the six months ended June 30, 2020.

    Net income was approximately $10.1 million for the six months ended June 30, 2021, representing an increase of 2,601.8 % compared with net income of approximately $0.4 million for the six months ended June 30, 2020.

Mr. Yi Shao, Chief Executive Officer of the Company, commented "We are very excited to report that our revenues in the first half of 2021 increased by 891.1% year over year to $24.5 million and our net income in the first half of 2021 increased by 2,601.8% year over year to $10.1 million. We have seen a strong first half of this year comparing to the same period of last year as the art and collectible market has bounced back and our business operation has returned to normal as COVID-19 pandemic has mostly been under control in China. During the first half of 2020, our business and operation suffered material negative impact by the outbreak of COVID-19 with the closure of our offices, especially the closure of our warehouse which prevented us from taking in new collectibles and artwork products as well as the traffic control and logistics restrictions in China during the outbreak which delayed delivery of collectibles and artwork from clients for appraisal and listing on our platform."

Mr. Shao continued: "In addition, economic activities are returning to normal and new measures are introduced to stimulate domestic consumption in China which have strengthened art and collectible traders' confidence. Internationally, the positive global financial market, encouraging signs of economic recovery, and continuing government stimulus measures, fueled investment market, including the investment in arts and collectibles. The rapid increase in new customers and our marketing activities helped driving up the number of new listings, volume of transactions as well as our revenue and profit." 

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OCG News: Oriental Culture Announces Strategic Partnership with Hangzhou Metaverse Internet Technology Co., Ltd. 05/26/2022 04:30:00 AM
OCG News: Statement of Beneficial Ownership (sc 13d) 05/10/2022 12:33:49 PM
OCG News: Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k) 05/02/2022 04:42:07 AM
OCG News: Annual and Transition Report (foreign Private Issuer) (20-f) 05/02/2022 04:41:45 AM
OCG News: Oriental Culture Holding LTD Announces 2021 Fiscal Year Financial Results 05/02/2022 04:30:00 AM
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#61   OCG- checking in here. Will consider re-entering the Nealio 03/30/22 05:01:26 AM
#60   Wow! another move from 4 to 5+...the chart Nealio 02/28/22 04:01:19 PM
#59   OCG-chart positive again; since FEb 7th-8... I ended Nealio 02/18/22 12:04:31 AM
#58   Chart has turned negative short-term, and overall market Nealio 01/25/22 02:17:45 PM
#57   Stock held like a ROCK today; while 90% Nealio 01/21/22 05:15:52 PM
#56   Looks like an even bigger move coming; up Nealio 01/18/22 05:38:11 PM
#55   PSAR flip on the 8x34 DMA chart...more UPs Nealio 01/10/22 04:11:13 AM
#54   Continuation, check those earnings from last report. Nealio 12/29/21 03:26:59 PM
#53   OCG continues positive price movement; looks ready to Nealio 12/21/21 04:29:13 PM
#52   Crushed earnings; and take-off on stock price. Mgmt Nealio 11/02/21 11:40:10 AM
#51   Sustained move; could go much higher. Nealio 08/31/21 02:38:53 PM
#50   OCG finally making a real run; looks to Nealio 08/26/21 05:16:55 PM
#49   Latest 8 DMA x 34 DMA chart, showing Nealio 07/12/21 04:06:24 PM
#48   Chart is still improving- PSAR flipped on Friday, Nealio 07/12/21 03:55:30 PM
#47   $OCG - chart turning around most likely...end of Nealio 07/08/21 06:11:46 PM
#46   OCG nice! swampboots 06/14/21 10:32:46 AM
#45   OCG~~During the year 2020, OCG also had approximately ALERTS100%to10000%GAIN 06/10/21 10:35:31 PM
#44   Breakout today! GL investors! Nealio 06/09/21 04:26:43 PM
#43   OCG chart alert, bullish uptrend signal! Nealio 06/07/21 04:50:46 PM
#41   $1.05 bounce off the bottom in AH. Wildbilly 03/23/21 06:26:12 PM
#40   * * $OCG Video Chart 03-23-2021 * * ClayTrader 03/23/21 04:52:21 PM
#39   * * $OCG Video Chart 03-22-2021 * * ClayTrader 03/22/21 06:06:29 PM
#38   * * $OCG Video Chart 03-19-2021 * * ClayTrader 03/19/21 04:30:49 PM
#37   It’s Just Us For Now Clay. iluvkush 03/19/21 10:32:39 AM
#36   * * $OCG Video Chart 03-18-2021 * * ClayTrader 03/18/21 04:23:30 PM
#35   It’s Very Quiet. iluvkush 03/18/21 10:47:45 AM
#34   * * $OCG Video Chart 03-17-2021 * * ClayTrader 03/17/21 03:58:12 PM
#33   I was down big but today made me E-7-2 03/15/21 06:04:38 PM
#32   * * $OCG Video Chart 03-15-2021 * * ClayTrader 03/15/21 05:28:07 PM
#31   strong buy today aristotelisonassis 03/15/21 03:45:33 PM
#30   This one gonna move TeddyCaswell 03/13/21 09:33:08 AM
#29   Buying $4.68 stock1ace1 02/10/21 10:56:38 AM
#28   Nice trade benchman 01/05/21 10:55:24 AM
#27   Yup. I got out at 5.20 Stock Predictor 01/05/21 10:46:16 AM
#26   I hope you got some. Big spike benchman 01/05/21 10:25:46 AM
#25   Nice benchman 01/04/21 03:02:15 PM
#24   Going to buy soon Stock Predictor 01/04/21 02:43:44 PM
#23   It came, did you buy? $OCG benchman 01/04/21 01:43:43 PM
#22   4.50 coming! Stock Predictor 12/21/20 12:21:36 PM
#21   5! Hope to see 4.50 Stock Predictor 12/19/20 10:57:53 AM
#20   You meant $6 ;-) Crazy Money 12/18/20 11:39:59 AM
#19   Yup, onthway down to 5 Stock Predictor 12/18/20 10:59:52 AM
#18   Heading for 5 Stock Predictor 12/18/20 09:53:25 AM
#17   Still waiting at 5. Let’s see! Stock Predictor 12/17/20 04:57:41 PM
#16   The IPO was over $6.00 went off with cjstocksup 12/17/20 03:25:29 PM
#15   Perhaps 4.50-5. Stock Predictor 12/17/20 03:17:53 PM
#14   The OCG IPO went perfect and they ran cjstocksup 12/17/20 03:09:43 PM
#13   Looks like 4.80-5 coming Stock Predictor 12/17/20 02:37:46 PM
#12   If so, not now. Probably in ph. Until Stock Predictor 12/17/20 02:30:21 PM
#11   Seems like red closing pos Roadtojourney 12/17/20 02:21:08 PM
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