On May 2, OCG. US released its annual financial report for 2021.
According to the data, the total revenue of the company during the reporting period was US $37.596 million, a year-on-year increase of 115.6%; The gross profit was USD 35.171 million, a year-on-year increase of 137.7%; The net profit was US $11.444 million, a year-on-year increase of 458.8%.
Statistics show that oriental culture Holding Co., Ltd. is an online collection and art e-commerce service provider. It allows collectors, artists, art dealers and owners to enter the art and collection trading market and has a wider range of collection and art investors. Through its subsidiary in Hong Kong, the company provides personal and institutional customers with transaction convenience of various collections, works of art and some commodities on its online platform, as well as Wuxi Online Offline Communication Information Technology Co.Ltd(300959) integrated marketing, storage and technical maintenance services.
According to the 2021 annual art market report launched by AMMA and Artprice, art transactions are booming. In 2021, the turnover of pure art auction in China rose 43% to US $5.9 billion, surpassing the United States and becoming the first in the world.
Under the background of market recovery and transaction volume expansion, Oriental culture actively promoted the trading service business of cultural and art collections. The trading fee income and marketing service income in its main business increased by 245.7% and 319.7% respectively year-on-year.
In addition to making great achievements in the traditional culture and art collection market, the company also expanded its business to multiple fields. According to public information, in 2022, the company announced the launch of NFT service for cultural and art collections to build an NFT platform for physical collections. Subsequently, the company officially announced its entry into the meta universe.
The management of Oriental Culture said that at present, the culture and art collection industry is developing rapidly, the market scale is gradually expanding, and the market demand for trading platform services shows a diversified development trend. In 2021, the company seized the opportunity of industry recovery and maintained the stable growth of its original business. In the future, the company will continue to explore the field of digital asset trading services, form a dual drive system of old and new businesses, and expand market share.
