Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 280

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 280
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575,909Class A ordinary shares in connection with acquire100% interest in Yai’s Thai, LLC. (note 16)

In May 2024, August 2022 Convertible Loan was
converted into111,704Class A ordinary shares by its holder. (note 17)

In June 2024, the Company issued3,482,143Class
A ordinary shares for US$1.7million to new investors. Certain creditors of the Company converted RMB 34.2 5,970,683

In August 2024, the Company issued1,500,000Class
A ordinary shares for US$450,000to a new investor. In August and October 2024, The Company issued Convertible Loans of USD1.5 million
to certain individuals in total and the Convertible Loans were all converted to 7,035,501(note
17)

In December 2024, certain creditors (including
related parties) of the Company converted USD6.6 million owed by the Company into 39,050,114

As of December 31, 2024, the number of Company’s
authorized Class A ordinary shares were200,000,000with par value of US$0.016per share; and the number of Class A ordinary shares issued
and outstanding was78,754,222.

In May 2019, the Company issued875,000Class
B ordinary shares to the Founder for a total cash consideration of US$1.0. The shareholder of Class B ordinary shares shall be entitled
to ten votes for each share and only held by the Founder, not be entitled to dividends and distributions of the Company, and not be transferable,
convertible or redeemable by the Company. Each Class B ordinary share shall automatically be cancelled by the Company immediately upon
the consummation of a qualified IPO or the occurrence of any liquidation event. In November 2023, the Company has waived the provision
of Memorandum and Articles of Association to allow the redesignation of all of the issued and outstanding Class B ordinary shares with
such the rights, preferences and privileges and the authorized Class B Ordinary shares would be875,000as of December 31, 2023 and December
31, 2024.

F-81

19. SERIES SEED CONVERTIBLE PREFERRED SHARES

In November 2015, the Company entered into
a share subscription agreement with a number of investors that the investors agreed to subscribe3,858(subsequently