Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 258

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 258
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. Chen di, Mr. Zhang Yi, Mr. Lin Jianfeng, Ms. Shen
Zhouzhou and Mr. Guo Yujie. As of December 31, 2023, the outstanding amount was RMB3,000,000.

In November 2023, Yuli entered into a one-year credit facility agreement
with BOC, which allows the Company to draw borrowings up to RMB2.0million for general working capital purposes. RMB2.0million was drawn
down from this facility in December 2023 and would mature in December 2024, which bore an interest rate of3.05% per annum. The facility
was guaranteed by Ms. Chen di, Mr. Zhang Yi. and pledged by the real estate of Mr. Zhang Yi. As of December 31, 2023, the outstanding
amount was RMB2,000,000.

In December 2023, Yuli entered into three one-year loan agreements
with ICBC, with total principal amount of RMB1,500,000and would mature in December 2024, bearing an interest rate of4.05% per annum.
As of December 31, 2023, the outstanding amount was RMB1,500,000.

As of December 31, 2022 and 2023, the Company
held Platinum business credit cards with HSBC, with total facility amount of HK$282,000guaranteed by Ms. Norma Ka Yin Chu for up to HK$50,000,
the outstanding credit card balance was HK$277,263(equivalent to RMB247,671) and nil, respectively.

The weighted average interest rate for short-term
borrowings as of December 31, 2022 and 2023 were approximately5.3% and4.3%, respectively.

F-61

13. BANK BORROWINGS(cont.)

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$4.0million for general working capital purposes. HK$4.0million (equivalent
to RMB3,362,716as of December 31, 2020) was drawn from this facility in 2020 and would mature in September 2023, at an interest rate
of2.75% per annum, and the outstanding principal and interest accrued thereon of