Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 131

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 5
Chunk 131
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$1.1 million)
of cash acquired from business combinations.

Financing Activities

Net cash provided in financing
activities was RMB115.8 million for the year ended December 31, 2021, primarily due to the proceeds issuance of Series C-1 redeemable
convertible preferred shares of RMB81.7 million, issuance of convertible loans of RMB14.5 million, net proceeds of shareholders’
loans of RMB13.3 million, net proceeds of related parties’ loans of RMB4.6 million, and net proceeds of bank borrowings RMB2.6 million.

Net cash provided in financing
activities was RMB51.4 million for the year ended December 31, 2022, primarily due to the proceeds from issuance of convertible loans
of RMB17.4 million, net proceeds of shareholders’ loans of RMB13.9 million, net proceeds of related parties’ loans of RMB10.9
million, net proceeds of loans from employees and individuals of RMB7.7 million and net proceeds of bank borrowings RMB2.0 million.

Net cash provided in financing
activities was RMB216.0 million (US$30.4 million) for the year ended December 31, 2023, primarily due to proceeds from IPO of RMB213.2
million (US$30.0), the net repayment of short-term bank borrowings of RMB39.7 million (US$5.6 million), net proceeds from long-term bank
borrowings of RMB3.3 million (US$0.5 million), net repayment of related parties’ loans of RMB2.7 million (US$0.4 million), repayment
of shareholders’ loan of RMB13.9 million (US$2.0 million), issuance of convertible loans (net of repayment) of RMB26.2 million (US$3.7
million), net proceeds from loans from employees and individuals of RMB29.7 million (US$4.2 million).

Capital Expenditures

For the years ended
December 31, 2021, 2022 and 2023, cash used in the purchase of property and equipment amounted to RMB0.2 million, RMB0.2 million
and RMB0.2 million (US$0.03 million), respectively.

Off-Balance Sheet Commitments and Arrangements

We have not entered into any
financial guarantees