Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 204

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 204
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 from the nominee shareholder and assets from Weishi, once or at multiple times at any time in part or in
whole, at the Company’s sole discretion.

The purchase price of equity interests shall be
the higher of the loan amount under the relevant loan agreement and the minimum price permitted by the local applicable laws. The purchase
price of assets shall be the higher of the carrying amount of the relevant assets and the minimum price permitted by the local applicable
laws. Pursuant to the contractual arrangement, Weishi and its nominee shareholder shall not terminate the exclusive purchase agreement
unilaterally in any event unless otherwise required by applicable laws.

3) Proxy Agreement

The WFOE has sole and exclusive power of attorney
to act on behalf of the nominee shareholder of Weishi with respect to all rights and matters concerning all equity interests held by such
nominee shareholder including exercising all of the nominee shareholder’s rights and voting rights; deciding the sale, transfer,
pledge or disposition of the shares of Weishi; representing the nominee shareholder to execute any resolutions and minutes as a nominee
shareholder (and director) of Weishi; approving the amendments to the articles of association without written consent of such nominee
shareholder; approving any change of the share capital of Weishi; appointing directors to Weishi at the discretion of the WFOE.

The nominee shareholder of Weishi waives all rights
with respect to the equity interests in Weishi held by her and shall not exercise such rights by herself.

4) Equity Pledge Agreement

Weishi’s nominee shareholder agrees to pledge
all the equity interests to the Company as security for performance of the contract obligations under these contractual arrangements.
Weishi and its nominee shareholder shall apply all necessary registration and/or filings relating to the equity pledges required by the
applicable laws within 15 working days after the execution of these contractual arrangements.

During the term of this equity pledge agreement,
Weishi and its nominee shareholder shall deliver the share certificate or the like to the WFOE’s escrow within 3 working days
after the execution of these contractual arrangements. In the event of the occurrence of any change of the share capital or the entrusted
shareholding of Weishi, Weishi and its nominee shareholder shall update the registration and/or filings relating to the equity pledges
required by the applicable laws and deliver the updated share certificate or the like to the Company’s escrow.

In August 2016 and subsequently updated in
March 2017, the equity pledge agreement was registered with relevant government authorities.