Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 256

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 256
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2023, bearing an interest rate of4.35% per annum. This facility was guaranteed by Ms. Wang Xiaoxiao. As of December 31,
2022, the outstanding amount was RMB8,000,000. The borrowing was fully repaid in July 2023.

In September 2022, the Company entered into a
two-year loan agreement with WeBank for general working capital purposes, with total principal amount of RMB300,000bearing an interest
rate of5.4% per annum. This facility was guaranteed by Mr. Lian Xi. The outstanding principal thereon of this loan shall be repaid by
24 equal monthly instalments. RMB37,500was repaid in 2022. In March 2023, the Company has modified the payment schedule with WeBank to
fully repay the loan in advance by March 2023. As of December 31, 2022, the outstanding amount was RMB262,500.

In September 2022, the Company entered into a
two-year loan agreement with Ning Bo Bank for general working capital purposes, with total principal amount of RMB700,000and bearing
an interest rate of5.4% per annum. This facility was guaranteed by Mr. Yu Yongkang. The outstanding principal thereon of this loan shall
be repaid by 24 equal monthly instalments. RMB87,500was repaid in 2022. In March 2023, The Company has modified the payment schedule
with Ning Bo Bank and fully repaid the loan in advance until March 2023. As of December 31, 2022, the outstanding amount was RMB612,500.

In December 2022, the Company entered into a one-year loan agreement
with Industrial Bank Co., Ltd. (“ CIB”) for general working capital purposes, with total principal amount of RMB5,000,000and
would mature in December 2023, bearing an interest rate of4.1% per annum. This facility was guaranteed by Ms. Wang Xiaoxiao. As of December
31, 2022, the outstanding amount was RMB5,000,000. The borrowing was fully repaid in December 2023.

F-60

13. BANK BORROWINGS(cont.)

In March 2023, the Company entered into a one-year loan agreement with
Bank of Beijing for general working capital purposes, with total principal amount of RMB6,000