Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 202

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 202
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 Yunmao Electronic-Commerce Co., Ltd.          60% Indirect Holdings                          
  Quanzhou Weishi food Co., Limited                             60% Indirect Holdings                          
  Shanghai Yuli Development Limited                             51% Indirect Holdings                          
  Guangzhou Youlong DayDayCook Food and Beverage Co., Ltd.      100% Indirect Holdings                         
  Hangzhou Damao Technology Co., Ltd.                           60% Indirect Holdings                          

F-15

1. DESCRIPTION OF BUSINESS AND ORGANISATION(cont.)

DDC Enterprise Limited (“ DDC” or the
“ Parent”) was incorporated in the Cayman Islands on April 30, 2012 under the Cayman Islands Companies Law as an exempted
company with limited liability. The Parent with its subsidiaries (collectively referred to as the “ Company”) is a China-based
Business-to-Business (“ B2B”) and Business-to-Consumer (“ B2C”) content streaming and product marketplace offering
easy, convenient ready-to-cook (“ RTC”), ready-to-heat (“ RTH”) and ready-to-eat (“ RTE”) meals while
promoting healthier lifestyle choices to its predominately Millennial and Generation Z (“ GenZ”) customer base. The Company’s
principal operations and geographic markets are mainly in the People’s Republic of China (“ PRC”).

On November 21, 2023, the Company completed its
initial public offering (“ IPO”) and issued3,900,000Class A ordinary shares for total amount of US$33.1million (RMB234.8million). The Company received net amount of US$30.0million (RMB213.2million) in total after deducting underwriting discounts, commissions
and other offering expenses payable for the amount of US$3.1million (RMB21.6million).

The VIE arrangements with Weishi

Prior to April 1, 2022, the Company operated its
internet-based business in the PRC through Shanghai Weishi Information Technology Co., Ltd. (“ Weishi”), a limited liability
company established under the laws of the PRC in February 2015. Weishi holds the necessary PRC operating licenses for the online
businesses. The equity interests of Weishi are legally held by Ms. Wang Xiaoxiao, (Co-founder and executive assistant of the CEO) who
acts as a nominee equity holder of Weishi on behalf of Shanghai DayDayCook Information Technology Co., Ltd. (“ Shanghai DayDayCook