Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 127

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 127
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and deposit for investment of RMB121.8 million (US$17.2 million), prepayment of deposit for a potential acquisition of RMB4.0 million
(US$0.6 million), payment of consideration payable resulted from acquisition of Cook San Francisco, LLC. of RMB13.9 million (US$2.0 million),
payment of consideration payable resulted from acquisition of Lishang of RMB2.4 million (US$0.3 million), and RMB7.9 million (US$1.1 million)
of cash acquired from business combinations.

Net cash used in investing
activities was RMB10.9 million (US$1.5 million) for the year ended December 31, 2024, primarily due to payment of consideration payable
resulted from acquisition of Yai’s Thai of RMB12.0 million (US$1.6 million) and RMB1.5 million (US$0.2 million) of cash acquired
from business combinations.

Financing Activities

Net cash provided in financing
activities was RMB51.4 million for the year ended December 31, 2022, primarily due to the proceeds from issuance of convertible loans
of RMB17.4 million, net proceeds of shareholders’ loans of RMB13.9 million, net proceeds of related parties’ loans of RMB10.9
million, net proceeds of loans from employees and individuals of RMB7.7 million and net proceeds of bank borrowings RMB2.0 million.

Net cash provided in financing activities was RMB216.0 million (US$30.4 million) for the year ended December
31, 2023, primarily due to proceeds from IPO of RMB213.2 million (US$30.0), the net repayment of short-term bank borrowings of RMB39.7
million (US$5.6 million), net proceeds from long-term bank borrowings of RMB3.3 million (US$0.5 million), net repayment of related parties’
loans of RMB2.7 million (US$0.4 million), repayment of shareholders’ loan of RMB13.9 million (US$2.0 million), issuance of convertible
loans (net of repayment) of RMB26.2 million (US$3.7 million), net proceeds from loans from employees and individuals of RMB29.7 million
(US$4.2 million