Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 118

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 118
---
 facilities to fund our listing expenses, and to manage our working capital requirements. Short-term banking facilities
are mainly drawn from financial institutions such as Bank of Beijing (“ BOB”) and Bank of Shanghai (“ BOS”), while
we utilize long-term banking facilities from Bank of China (“ BOC”) and Nanyang Commercial Bank (“ NCB”). As at
December 31, 2024, short-term bank loans amount to RMB50.5 million (US$6.9 million), current portion of long-term bank loans amount to
RMB0.8 million (US$0.1 million), and long-term bank loans amount to RMB4.5 million (US$0.6 million). As at December 31, 2023, short-term
bank loans amount to RMB19.5 million, current portion of long-term bank loans amount to RMB2.0 million, and long-term bank loans amount
to RMB5.5 million.

Significant
short-term bank borrowings

In March 2023, the Company entered into a one-year
loan agreement with Bank of Beijing for general working capital purposes, with total principal amount of RMB6,000,000 and would mature
in March 2024, bearing an interest rate of 3.65% per annum. This facility was guaranteed by Ms. Norma Ka Yin Chu and a subsidiary of the
Company. As of December 31, 2023, the outstanding amount was RMB6,000,000. The borrowing was fully repaid in March 2024.

In July 2023, the Company entered into a one-year
loan agreement with CNCB for general working capital purposes, with total principal amount of RMB7,000,000 and would mature in July 2024,
bearing an interest rate of 4.35% per annum. This facility was guaranteed by Ms. Wang Xiaoxiao. As of December 31, 2023, the outstanding
amount was RMB7,000,000. The borrowing was fully repaid in July 2024.

In September 2023, Yuli entered into a one-year
loan agreements with Zhejiang Tailong Commercial Bank (“ Tailong Bank”), with total principal amount of RMB3,000,000 and would
mature in September 2024, bearing an interest rate of 4.0% per annum. This facility was guaranteed by Ms. Chen di, Mr. Zhang Yi, Mr.