Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 125

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 5
Chunk 125
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 2022 and 2023 were approximately 5.3%, 5.3% and 4.3%, respectively.

Significant long-term bank borrowings

In September 2020, the Company
entered into a three-year term facility with BOC, which allows the Company to draw borrowings up to HK$4.0 million for general working
capital purposes. HK$4.0 million (equivalent to RMB3,362,716 as of December 31, 2020) was drawn from this facility in 2020, at an interest
rate of 2.75% per annum, and the outstanding principal and interest accrued thereon of this facility shall be repaid by 24 equal monthly
instalments, commencing 13 months after the drawdown date. This facility was guaranteed by Mr. Samuel Derk Shuen Lim. HK$488,138 (equivalent
to RMB400,341), HK$1,818,021 (equivalent to RMB1,568,589) and HK$1,693,841 (equivalent to RMB1,523,779) were repaid in 2021, 2022 and
2023, respectively. As of December 31, 2022, the remaining outstanding long-term bank borrowings and interest balance repayable amounted
to HK$1,693,841 (equivalent to RMB1,513,057) was all classified as “current portion of long-term bank borrowings” on the consolidated
balance sheets. The borrowing was fully repaid by December 31, 2023.

In June 2021, the Company
entered into an eight-year term facility with BOC, which allows the Company to draw borrowings up to HK$2.0 million for general working
capital purposes. HK$2.0 million was drawn from this facility in June 2021, at an interest rate of 2.75% per annum, and the outstanding
principal and interest accrued thereon of this facility shall be repaid by 84 equal monthly instalments, commencing 13 months after the
drawdown date. This facility was guaranteed by Mr. Samuel Derk Shuen Lim. HK$107,945 (equivalent to RMB93,135) was repaid in 2022. As
of December 31, 2022, the outstanding long-term bank borrowings balance repayable within the next twelve months amount of HK$265