Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 247

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 247
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ment loss for equity investments accounted
for using measurement alternative” in the consolidated statements of operations and comprehensive loss for the years ended 2021,
2022 and 2023, respectively.

On May 26, 2022, the Company purchased431series
seed preferred shares from Good Food Technologies (Cayman) Limited (“ Good Food”) for a cash consideration of US$0.1million(equivalent to RMB0.7million), for1.43% equity interests. The Company does not have significant influence over Good Food and elected
to measure the equity investment without a readily determinable fair value at cost adjusted for changes resulting from impairments, if
any, and observable price changes in orderly transactions for the identical or similar securities of the same issuer. As of December 31,
2022 and 2023, the Company made a qualitative assessment and considered there were impairment indicators that investment in Good Food
were impaired as of December 31, 2023, as it suffered significant loss and the net liabilities amounting to approximately RMB13.6million.
As a result, the investment in Good Food was written down to nilas of December 31, 2023.

F-53

9. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, as of December 31,
2022 and 2023 consisted of the following:

                                      As of December 31,                                                
                                      2022                                      2023                    
 ────────────────────────────────────────────────────────────────────────────────────────────────────────
                                      RMB                                       RMB                     
  Electronic equipment                                           3,909,342                   3,403,193  
  Office equipment and other                                     4,573,886                   4,241,801  
  Operating equipment                                                    -                     335,758  
  Leasehold improvement                                          2,519,936                   2,695,298  
  Property, plant and equipment                                 11,003,164                  10,676,050  
  Less: Accumulated depreciation                              ( 10,493,995                ( 10,073,015  
  Total                                                            509,169                     603,035  

Depreciation
expenses on property, plant and equipment were allocated to the following expense items:

                                           For                                                                           
                                           the Years Ended                                                               
                                           December 31,                                                                  
                                           2021                                2022                   2023               
                                           RMB                                 RMB                    RMB                
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