Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 330

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 330
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  Cash, cash equivalents and restricted cash at the end of the year                                                    71,548,447                 92,712,336                   70,915,441         9,988,231  

F-116

31. SUBSEQUENT EVENTS

Management has considered subsequent events through
which was the date the consolidated financial statements were issued.

On December 26, 2023, the Company entered into
an agreement to purchase Yai’s Thai, Inc., a leading Thai American food brand and the acquisition was completed in January 2024.
The total consideration was composed of: (i) Closing Cash Consideration, i. e. US$1,674,460.56minus the Preferred Stock Cash Amount for
each series of Preferred Stock; (ii) Closing Shares, i. e. the number of Ordinary Shares having a Closing Value of US$6,694,842.24minus
the number of Ordinary Shares comprising the Preferred Stock Share Amount; (iii) Additional Consideration, i. e. cash and Ordinary Shares
to be released from the Indemnity Holdback and the Financial Performance Holdback and cash to be paid in respect of the Earnout.

On June 12, 2024, the Company acquired Omsom,
Inc, a proud and loud Asian food brand that has quickly garnered a devoted following for its Cooking Sauces, Saucy Noodles, and bold cultural
commentary. The Agreement provided that: (i) DDC Omsom acquired substantially all the assets of Omsom, Inc., including cash, receivables
and inventory, and assumed certain obligations including bank debt of approximately $800,000; (ii) the Company provide working capital
of up to $3million over the three-year period immediately following the closing of the Acquisition; (iii) key employees of Omsom, Inc.
become employees of DDC Omsom; and (iv) subject to achievement of net revenue and net profit goals, the Company will pay additional purchase
price consideration to Omsom, Inc. (consisting of50% shares of Company stock and50% cash), currently estimated, based on current projections
for DDC Omsom, to have an aggregate value of $11.7million.

On January 9, 2024, DDC entered into a share purchase
agreement (the “ SPA”) to acquire51% of the outstanding shares of GLI Industry S. p. A (“ GLI”),