Company: DDC
Filing Date: 2025-07-22
Form Type: F-3
Source: 0001213900-25-066338
Chunk: 82

Company: DDC Enterprise Ltd
Filing Date: 2025-07-22
Form: F-3
Chunk 82
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 be severely and adversely compromised and those corporate entities may be bound to abide by the terms of any documents
so chopped, even if they were chopped by an individual who lacked the requisite power and authority to do so. In addition, if the chops
are misused by unauthorized persons, we could experience disruption to our normal business operations. We may have to take corporate or
legal action, which could involve significant time and resources to resolve while distracting management from our operations.

We face uncertainties with respect to the interpretation and implementation of the newly enacted Foreign Investment Law and how it may impact the viability of our current corporate structure, corporate governance and business operations.

On March 15, 2019, the
National People’s Congress approved the Foreign Investment Law (the “FIL”), which took effect on January 1, 2020
(with the Implementation Rules to the FIL come into effect from the same day) and replaced the Sino-Foreign Equity Joint Venture
Enterprise Law, the Sino-Foreign Cooperative Joint Venture Enterprise Law and the Foreign-invested Enterprise Law, together with their
implementation rules and ancillary regulations, to become the legal foundation for foreign investment in the PRC.

However, uncertainties still
exist in relation to interpretation and implementation of the FIL, especially in regard to, including, among other things, and specific
rules regulating the organization form of foreign-invested enterprises within the five-year transition period. Under the FIL, foreign
investors and foreign-invested enterprises will be subject to legal liabilities if they fail to report investment information in accordance
with the FIL. In addition, the FIL provides that foreign-invested enterprises established according to the existing laws regulating
foreign investment may maintain their structure and corporate governance within a five-year transition period, which means that we may
be required to adjust the structure and corporate governance of certain of our PRC subsidiaries in such transition period. Failure to
take timely and appropriate measures to cope with any of these or similar regulatory compliance challenges could materially and adversely
affect our current corporate structure, corporate governance and business operations.

Our operating results, revenues, and expenses may fluctuate significantly, which could have an adverse effect on the market price of our listed securities.

For many reasons, including those described below,
our operating results, revenues, and expenses have varied in the past and may vary significantly in the future. These fluctuations could
have an adverse effect on the market price of our listed securities.

Fluctuations in Quarterly Operating Results. Our
quarterly operating