Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 251

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 251
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 and interest balance repayable within
the next twelve months amounted to RMB94,286was classified as “current portion of long-term bank borrowings” on the consolidated
balance sheets. The remaining outstanding long-term bank borrowings and interest balance was nil.

In July 2023, the Company entered into a two-year
loan agreement with WeBank for general working capital purposes, with total principal amount of RMB1,200,000and would mature in July
2025, bearing an interest rate of12.24% per annum. The outstanding principal thereon of this loan shall be repaid by 24 equal monthly
instalments. RMB114,286was repaid in 2023. As of December 31, 2023, the outstanding long-term bank borrowings and interest balance repayable
within the next twelve months amounted to RMB685,715was classified as “current portion of long- term bank borrowings” on
the consolidated balance sheets. The remaining outstanding long- term bank borrowings and interest balance was RMB399,999. As of December
31, 2024, the borrowing was fully repaid and the remaining outstanding long-term bank borrowings balance was nil.

In September 2023, the Company entered into a
ten-year term facility with Nanyang Commercial Bank (“ NCB”), which allows the Company to draw borrowings up to HK$4,550,000for general working capital purposes. HK$4,550,000(equivalent to RMB4,123,210as of December 31, 2023) was drawn from this facility in
October 2023 and would mature in October 2033, at an interest rate of3.625% per annum, and the outstanding principal and interest accrued
thereon of this facility shall be repaid by 120 equal monthly instalments, commencing 1 months after the drawdown date. This facility
was guaranteed by Mr. Samuel Derk Shuen Lim, Mr. Lin Kai Hang, Mr. Sio Ieng Kit, Mr. Tang Wai Cheung and Ms. Norma Ka Yin Chu for each
guaranteed amount of HK$4,550,000. HK$63,048(equivalent to RMB57,613) and HK$387,514(equivalent to RMB358,838) was repaid in 2023and
2024. As of December 31, 2023, the outstanding long-term bank