Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 192

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 16F
Chunk 192
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 weakness in the Company’s internal
control over financial reporting that relates to the Company’s lack of sufficient financial reporting and accounting personnel with
appropriate understanding of accounting principles generally accepted in the United States of America (“ U. S. GAAP”) and financial
reporting requirements set forth by the SEC to formalize, design, implement and operate key controls over financial reporting process
to address complex U. S. GAAP accounting issues and related disclosures, in accordance with U. S. GAAP and SEC financial reporting requirements.

The Company provided KPMG
with a copy of the above disclosures prior to filing the August 6-K with the SEC. The Company has requested that KPMG furnish a letter
addressed to the SEC stating whether or not KPMG agrees to the statements above. That letter is filed as Exhibit 99.1 to the August 6-K
and is incorporated by reference herein.

As of the First Effective
Date, the Company appointed Marcum Asia (“ Marcum”) as the Company’s independent registered public accounting firm for
the fiscal year ended December 31, 2023 and the fiscal year ending December 31, 2024. The appointment of Marcum was approved by the Audit
Committee as of the First Effective Date.

During the fiscal years ended
December 31, 2023 and 2022 and the subsequent interim period through the First Effective Date, neither the Company nor anyone acting on
its behalf consulted with Marcum, regarding either: (i) the application of accounting principles to a specific transaction, completed
or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial statements, and neither
a written report nor oral advice was provided to the Company that Marcum concluded was an important factor considered by the Company in
reaching a decision as to any accounting, auditing or financial reporting issue or (ii) any matter that was either the subject of a “disagreement”
(as defined in Item 16F(a)(1)(iv) of Form 20-F) or a “reportable event” (as described in Item 16F(a)(1)(v) of Form 20-F).

Dismissal of Marcum Asia and appointment
of Enrome LLP

On August 30, 2024, Marcum
was retained as the Company’s independent registered public accounting firm for the fiscal year ended December 31, 2023 and the
fiscal year ending December 31, 2024; Marcum