Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 323

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 323
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corresponding interest.

As of December 31, 2023, RMB1.4million was estimated
to be probable to be paid and was included in “ Accrued expenses and other current liabilities” in the consolidated balance
sheet. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s
consolidated financial position, results of operations, or liquidity.

28. RELATED PARTY TRANSACTIONS

Related party transactions

During the years ended December 31,
2021, 2022 and 2023, the related parties of the Company are as follows:

  Name of parties                  Relationship                                  
 ─────────────────────────────────────────────────────────────────────────────────
  Ms. Norma Ka Yin Chu             Founder, Chairman of the board                
  Ms. Katherine Shuk Kwan Lui      Chief Financial Officer                       
  Mr. Samuel Derk Shuen Lim        Spouse of the Founder, shareholder of Voodoo  

During the years ended December 31,
2022 and 2023, the Company entered into the following related party transactions with related parties.

                                                             For the Years Ended                                
                                                                    December 31,                                
                                                                            2021           2022           2023  
                                                                             RMB            RMB            RMB  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Financing activities:                                                                                         
  Loans borrowed from Ms. Katherine Shuk Kwan Lui                      1,250,000        679,460        206,512  
  Loans borrowed from Mr. Samuel Derk Shuen Lim                       17,671,752      8,951,618              -  
  Loans borrowed from Ms. Norma Ka Yin Chu                             2,147,717      3,369,211      3,760,738  
  Repayment of Loans to Mr. Samuel Derk Shuen Lim                     13,942,736      1,282,500        718,665  
  Repayment of Loans to Ms. Katherine Shuk Kwan Lui                    2,091,640        500,000        383,805  
  Repayment of Loans to Ms. Norma Ka Yin Chu                             393,934        314,294      6,894,116  
  Loan interests payable to Ms. Katherine Shuk Kwan Lui                   41,333          2,765          2,636