Company: DDC
Filing Date: 2025-08-05
Form Type: F-3/A
Source: 0001213900-25-072148
Chunk: 83

Company: DDC Enterprise Ltd
Filing Date: 2025-08-05
Form: F-3/A
Chunk 83
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 risks which may impact us if we are unable
to satisfy our debt service and cash dividend obligations.

<div align='center'>46</div>

Our bitcoin strategy exposes us to various risks, including risks associated with bitcoin.

Our bitcoin strategy exposes us to various risks,
including the following:

Bitcoin is a highly volatile
asset. Bitcoin is a highly volatile asset that has traded below $50,000 per bitcoin and above $105,000 per bitcoin on the Coinbase exchange
in the 12 months preceding the date of the Annual Report. The trading price of bitcoin significantly decreased during prior periods, and
such declines may occur again in the future.

Bitcoin does not pay interest or dividends. Bitcoin
does not pay interest or other returns and we can only generate cash from our bitcoin holdings if we sell our bitcoin or implement strategies
to create income streams or otherwise generate cash by using our bitcoin holdings. Even if we pursue any such strategies, we may be unable
to create income streams or otherwise generate cash from our bitcoin holdings, and any such strategies may subject us to additional risks.

Our bitcoin holdings will
significantly impact our financial results and the market price of our listed securities. Our bitcoin holdings are expected to significantly
affect our financial results and if we continue to increase our overall holdings of bitcoin in the future, they will have an even greater
impact on our financial results and the market price of our listed securities. See “Risks Related to Our Bitcoin Strategy and Holdings
– Our historical financial statements do not reflect the potential variability in earnings that we may experience in the future
relating to our bitcoin holdings.”

Our assets are concentrated in bitcoin. The vast
majority of our assets are concentrated in our bitcoin holdings. The concentration of our assets in bitcoin limits our ability to mitigate
risk that could otherwise be achieved by holding a more diversified portfolio of treasury assets.

We purchase bitcoin using primarily proceeds from
equity and debt financings. Our ability to achieve the objectives of our bitcoin strategy depends in significant part on our ability to
obtain equity and debt financing. If we are unable to obtain equity or debt financing on favorable terms or at all, we may not be able
to successfully execute on our bitcoin strategy.

Our bitcoin strategy has not been tested over an
extended period of time or under different market conditions. We are continually examining the risks and rewards of our strategy to acquire
and hold bitcoin. This strategy has not been tested over an extended period of time or under different market conditions. For example,
although we believe bitcoin,