Company: DDC
Filing Date: 2025-08-05
Form Type: F-3/A
Source: 0001213900-25-072148
Chunk: 162

Company: DDC Enterprise Ltd
Filing Date: 2025-08-05
Form: F-3/A
Chunk 162
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 insufficient to repay the whole of the
paid-up capital, those assets shall be distributed so that, as nearly as may be, the losses shall be borne by our shareholders in
proportion to the capital paid up, or which ought to have been paid up, at the commencement of the winding up on the shares held by them,
respectively.

Transfer of Class A Ordinary Shares. Subject to the restrictions set out below, any of our shareholders may transfer all or any of his or her Class A Ordinary
Shares by an instrument of transfer in the usual or common form or any other form approved by our board of directors. The Class B Ordinary
Shares are not transferable.

Our board of directors may,
in its absolute discretion, decline to register any transfer of any ordinary share which is not fully paid up or on which we have a lien.
Our board of directors may also decline to register any transfer of any ordinary share unless:

| ● | the instrument of transfer is lodged with us, accompanied by the certificate for the Ordinary Shares to which it relates and such other evidence as our board of directors may reasonably require to show the right of the transferor to make the transfer; |

| ● | the instrument of transfer is in respect of only one class of shares; |

| ● | the instrument of transfer is properly stamped, if required; |

| ● | the shares conceded are free of any lien in favor of the Company; |

| ● | in the case of a transfer to joint holders, the number of joint holders to whom the ordinary share is to be transferred does not exceed four; and |

| ● | a fee of such maximum sum as NYSE may determine to be payable or such lesser sum as our directors may from time to time require is paid to us in respect thereof. |

If our directors refuse to
register a transfer they must, within two months after the date on which the instrument of transfer was lodged, send to each of the transferor
and the transferee notice of such refusal.

The registration of transfers
may, after compliance with any notice required of the NYSE, be suspended and the register closed at such times and for such periods as
our board of directors may from time to time determine; provided, however, that the registration of transfers may not be suspended nor
the register closed for more than 30 days in any year.

Calls on Shares and Forfeiture of Shares.Our directors may from time to time make calls on our shareholders in respect of any moneys unpaid on their shares
including any