Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 302

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 302
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 fund, prior to payment of dividends. Furthermore, the Company’s subsidiaries, the VIEs cannot distribute dividends out of
their respective registered capital without the prior governmental approvals. Except for the registered capital and statutory reserve
requirements stated above, there is no other restriction on the net assets of the Company’s subsidiaries and the VIEs to satisfy
any obligations of the Company.

The Company performed a test on the restricted
net assets of consolidated subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08
(e) (3), “ General Notes to Financial Statements”. The Company disclosed the parent-company-only condensed financial information
in Note 29.

29. CONDENSED FINANCIAL STATEMENTS OF THE COMPANY

  (a)      Condensed       

                                                                         As of December 31,                                                                             
                                                                         2023                                     2024                                                  
                                                                         RMB                                      RMB                        US$                        
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                                                             Note 2(e)                  
  ASSETS                                                                                                                                                                
  Current assets                                                                                                                                                        
  Cash and cash equivalents                                                                       70,915,441                 57,595,302                      7,890,524  
  Short-term investment                                                                           83,824,022                 88,685,783                     12,149,902  
  Amounts due from related parties                                                               143,650,752                270,920,123                     37,115,905  
  Prepayments and other current assets                                                             1,770,675                          -                              -  
  Total current assets                                                                           300,160,890                417,201,208                     57,156,331  
  Non-current assets                                                                                                                                                    
  Long-term investment (note 8)                                                                   14,136,050                  8,490,163                      1,163,148  
  Total non-current assets                                                                        14,136,050                  8,490,163                      1,163,148  
  Total assets                                                                                   314,296,940                425,691,371                     58,319,479  
  LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY                                                                                                                
  Current liabilities                                                                                                                                                   
  Shareholders’ loan, at amortized cost                                                           21,192,353                 79,310,982                     10,865,560