Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 288

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 288
---
665         -                   50,403,394      -                    109,089,609  
  Foreign                                                                                   -              14,594,247         12,180,224         -                   56,454,594      -                    109,556,298  
  Balance                                                                                   387,525        181,300,496        151,311,737        2,370,939          701,320,497      4,507,316          1,368,520,061  
  Issuance                                                                                  -              -                  -                  563                     60,170      563                       60,170  
  Accretion                                                                                 -              13,007,081         10,855,591         -                   50,317,395      -                    110,112,796  
  Automatic                                                                                 ( 387,524      ( 199,066,600      ( 166,139,167      ( 2,371,484      ( 770,044,701      ( 4,507,844      ( 1,514,715,956  
  Foreign                                                                                   -              4,759,023          3,971,839          -                   18,346,639      -                     36,022,929  
  Others                                                                                    ( 1            -                  -                  ( 18                         -      ( 35                           -  
  Balance                                                                                   -              -                  -                  -                            -      -                              -  

F-82

18. CONVERTIBLE LOANS AND SHAREHOLDER LOANS

January 2019 Shareholder Loan

In January 2019, the Company entered into a shareholder
loan agreement with an investor for an aggregate principal amount of HK$23.5million (the “ January 2019 Shareholder Loan”).
The loan bears interest of12% per annum and is repayable within 12 months from the issue date. Concurrent with the loan, the Company
granted a warrant (“ B-2 Warrant”) to the investor for a consideration of HK$1.0to subscribe for Series B-2 Redeemable Convertible
Preferred Shares at an exercise price of US$63.20per share. The total subscription price for the warrant shall not exceed one-third of
the loan, plus any accrued but unpaid interest. The B-2 Warrant will expire on the earlier of: (i) the date of the closing of the first
firm