Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 191

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 16F
Chunk 191
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Item 16F. Change in Registrant’s Certifying Accountant

Dismissal of KPMG Huazhen LLP and appointment
of Marcum Asia

As previously announced in
the Form 6-K filed by the Company with the SEC on August 30, 2024 (the “ August 6-K”), on August 30, 2024 (the “ First
Effective Date”), the Company dismissed KPMG Huazhen LLP (“ KPMG”) as the Company’s independent registered public
accounting firm. The dismissal of the Company’s independent registered public accounting firm was approved by the Audit Committee
(the “ Audit Committee”) of the Board of Directors of the Company as of the First Effective Date.

KPMG’s audit report
on the Company’s consolidated financial statements for the years ended December 31, 2022 and 2021 did not contain any adverse opinion
or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, except that KPMG’s
report on the consolidated financial statements of the Company as of and for the years ended December 31, 2022 and 2021, contained separate
paragraphs stating that:

  (i)      “the accompanying consolidated financial statements have                                                                                       

  (ii)      “as discussed in note 2(p) to the consolidated financial                                                                                   
            statements, the Company has changed its method of accounting for leases as of January 1, 2022 due to the adoption of Accounting Standards  
            Codification Topic 842, Leases.”                                                                                                           
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During the Company’s
fiscal years ended December 31, 2022 and 2021 and the subsequent annual and interim period through (and including) the First Effective
Date, there were (i) no “disagreements” (as described in Item 16F(a)(1)(iv) of Form 20-F) with KPMG on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or procedure, which if not resolved to KPMG’s satisfaction,
would have caused KPMG to make reference to the disagreements in connection with KPMG’s report, and (ii) no “reportable events”
as defined in Item 16F(a)(1)(v) of Form 20-F, except that KPMG advised the Company of a material