Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 238

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 238
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 par value of US$0.016each, which was effectuated immediately on November
16, 2023, and all of the a) issued and outstanding share options granted by the Company, b) warrants granted by the Company and c) any
other form of convertible securities granted by the Company and the holders of share options, warrants and convertible securities were
entitled to as originally set out in their relevant agreements with the Company, as adjusted to reflect the share consolidation.

All share and per share data in the consolidated
financial statements and notes thereto have been retroactively revised to reflect the share consolidation. Ordinary shares underlying
outstanding share options, warrants and convertible securities and the respective exercise prices, if applicable, were proportionately
adjusted.

(ak) Recent Accounting Pronouncements

Recently Adopted Accounting Standards

In February 2016, the FASB issued Accounting
Standards Codification Topic 842, Leases (ASC 842). ASC 842 specifies the accounting for leases. For operating leases, ASC 842 requires
a lessee to recognize a Right-of-use assets and a lease liability, initially measured at the present value of the lease payments, in its
balance sheets. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated
over the lease term, on a generally straight-line basis. ASC 842 was further amended in June 2020 by ASU 2020-05. Revenue from
Contracts with Customers (ASC 606) and Leases (ASC 842), ASU 2020-05 deferred the effective date of new leases standard.
As a result, ASC 842, Leases, is effective for public companies for annual reporting periods, and interim periods within those years
beginning after December 15, 2018. For all other entities, it is effective for fiscal years beginning after December 15,
2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted. As the Company
is an “emerging growth company” and elects to apply for the new and revised accounting standards at the effective date for
a private company, the Company adopted ASC 842 for the fiscal year ended December 31, 2022.

In December 2023, the FASB issued ASU
2023-08,“ Intangibles， Goodwill and Other-Crypto Assets (Subtopic 350-60). Accounting for and Disclosure