Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 184

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 15
Chunk 184
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Item 15. Controls and Procedures

Disclosure Controls and Procedures

Our management, with the participation
of our Chief Executive Officer and Chief Financial Officer, has performed an evaluation of the effectiveness of our disclosure controls
and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this annual report, as required
by Rule 13a-15(b) under the Exchange Act. Based upon that evaluation, our management has concluded that, as of December 31, 2022 and December
31, 2023, our disclosure controls and procedures were effective in ensuring that the information required to be disclosed by us in the
reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified
in the SEC’s rules and forms, and that the information required to be disclosed by us in the reports that we file or submit under
the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer,
as appropriate, to allow timely decisions regarding required disclosure.

Internal Control over Financial Reporting

In the course of auditing
our consolidated financial statements for the year ended December 31, 2023, we and our independent registered public accounting firm identified
material weaknesses in our internal control over financial reporting as of December 31, 2023, in accordance with the standards established
by the Public Company Accounting Oversight Board of the United States, or the PCAOB. As defined in the standards established by the PCAOB,
a “material weakness” is a deficiency, or combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented
or detected on a timely basis.

The material weaknesses identified
include: ·

  lack of sufficient financial reporting and accounting personnel with appropriate knowledge of U. S. GAAP and SEC reporting requirements to properly address complex U. S. GAAP accounting issues ...  

We have taken measures and
plan to continue to take measures to remediate these deficiencies, including: (i) hiring more qualified resources, equipped with relevant
U. S. GAAP and SEC reporting experiences and qualifications to strengthen the financial reporting function, (ii) establishing an ongoing
program to provide sufficient and additional appropriate training to our accounting staff, especially trainings related to U. S. GAAP and
SEC financial reporting requirements, (iii) developing a set