Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 252

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 252
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 31,                                            
                                                                           2022                                    2023                  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                           RMB                                     RMB                   
  Account receivables of collaborative arrangement- non-current                                    -                            622,347  
  Prepayments and other receivables due from YJW and KeKe-non-current                              28,024,937                36,004,491  
  Receivables of supplier rebates-non-current                                                      4,721,177                    401,210  
  Prepaid consideration for potential acquisitions                                                 -                          4,031,676  
  Long-term deposits                                                                               1,697,064                  2,090,405  
  Total                                                                                            34,443,178                43,150,129  

13. BANK BORROWINGS

                                  As of December 31,                                            
                                  2022                                    2023                  
 ────────────────────────────────────────────────────────────────────────────────────────────────
                                  RMB                                     RMB                   
  Short-term bank borrowings                              54,830,623                19,500,000  

                                                          As of December 31,                                              
                                                          2022                                     2023                   
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                          RMB                                      RMB                    
  Long-term bank borrowings                                                         3,691,564                  7,512,629  
  Less: Current portion of long-term bank borrowings                              ( 2,020,480                ( 1,993,168  
  Long-term borrowings, excluding current portion                                   1,671,084                  5,519,461  

F-58

13. BANK BORROWINGS(cont.)

Short-term bank borrowings

In September 2021, the Company entered into a
banking facility with Hang Seng Bank (“ HSB”). The facility includes one revolving loan facility with the facility amount of
US$5.0million or its equivalent in HK$ (equivalent to RMB32,280,200) to finance/refinance the Company’s listing expenses (RLN1),
and another revolving loan facility with the facility amount of US$5.0million or its equivalent in HK$, subject to achievement of certain
conditions, to finance/refinance the Company’s general working capital purposes (RLN2). The facility is only available upon HSB’s
receipt of guarantees in HSB’s