Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 317

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 317
---
. The cumulative tax losses for entities in Hong Kong will not expire under the current tax legislation.

F-103

24. INCOME TAX(cont.)

As of December 31, 2021, 2022 and 2023, the
Company had net operating loss carry forwards of approximately RMB
303.2
million, RMB
173.5
million and RMB
135.7
million, respectively,
attributable to the PRC subsidiaries and the VIEs. The loss carried forward of the PRC companies will expire during the following periods
from 2022 to 2027.

             As of December 31,                                                                         
             2021                                     2022                       2023                   
             RMB                                      RMB                        RMB                    
  Total                              303,218,778                173,464,614                135,725,701  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────
   2022                               15,587,778                          -                          -  
   2023                              125,499,715                 44,132,171                          -  
   2024                               82,523,087                 60,945,797                 60,945,797  
   2025                               45,804,548                 37,302,210                 37,302,210  
   2026                               33,803,650                 23,478,321                 23,478,321  
   2027                                        -                  7,606,115                  7,606,115  
   2028                                        -                          -                  6,393,258  

The Company offsets deferred tax assets and liabilities
pertaining to a particular tax-paying component of the Group within a particular jurisdiction.

                                                          As of December 31,                                          
                                                          2022                                   2023                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                          RMB                                    RMB                  
  Classification in the consolidated balance sheets:                                                                  
  Deferred tax assets, net                                                        -                        -          
  Deferred tax liabilities, net                                                   3,399,427                3,827,489  

A valuation allowance is provided against deferred
income tax assets when the Company determines that it is more likely than not that the deferred income tax assets will not be utilized
in the foreseeable future. In making such determination, the Company evaluates a variety of