Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 260

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 260
---
 Total considerations                                                                     11,309,039  
  Less: Identifiable net assets acquired of the YJW Target Assets as of June 17, 2022                  
  Inventories                                                                                 420,016  
  Prepayments and other current assets                                                     12,064,620  
  Intangible asset – Customer relationship                                                  2,300,000  
  Deferred tax liabilities                                                                  ( 575,000  
  Total identifiable assets acquired and liabilities assumed                               14,209,636  
  Add: Fair value of equity held by non-controlling interest *                              6,031,487  
  Goodwill                                                                                  3,130,890  

  The fair value of the non-controlling interest in YJW was measured based on significant inputs that are not observable in the market and thus represents a Level 3 measurement. Key assumption in...  

  Consideration - Share options                                                              8,683,415  
  Less: Identifiable net assets acquired of the KeKe Target Assets as of June 17, 2022                  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────
  Inventories                                                                                  544,261  
  Prepayments and other current assets                                                      10,178,171  
  Intangible asset – Customer relationship                                                   1,000,000  
  Deferred tax liabilities                                                                   ( 250,000  
  Total identifiable assets acquired and liabilities assumed                                11,472,432  
  Add: Fair value of equity held by non-controlling interest *                               4,631,154  
  Goodwill                                                                                   1,842,137  

  The fair value of the non-controlling interest in KeKe was measured based on significant inputs that are not observable in the market and thus represents a Level 3 measurement. Key assumption i...  

F-67

16. BUSINESS
COMBINATION(cont.)

Cook SF

On May 26, 2023, the Company entered into a purchase
agreement with Ms. Nona Lim and other selling shareholders to acquire100% interest in Cook San Francisco, LLC. (“ Cook SF”).
Cook SF operates the brand “ Nona Lim”, an Asian food brand sells RTC product based in USA. This acquisition enables the Company
to expand its customer base into the US market.

The transaction was accounted for under the acquisition
method of accounting in accordance with ASC 805, Business Combinations. The acquisition was completed when the Company obtained control
over Cook SF on July 1, 202