Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 295

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 295
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 disallowed by taxing authorities. Accordingly, it may not be appropriate to reflect
a position taken on the tax return when the outcome of that tax position is uncertain. The unrecognized tax benefits balances, if recognized
upon audit settlement or statute expiration, would affect the effective tax rate. The Company is currently unable to provide an estimate
of a range of total amount of unrecognized tax benefits that is reasonably possible to change significantly within the next twelve months.

According to the PRC Tax Administration and Collection
Law, the statute of limitation is threeyears if the underpayment of taxes is due to computational errors made by the taxpayer or
the withholding agent. The statute of limitation is extended to fiveyears under special circumstances where the underpayment of
taxes is more than RMB0.1million. In the case of transfer pricing issues, the statute of limitation is10years. There is no statute
of limitation in the case of tax evasion. The income tax returns of the Company’s PRC subsidiary and the VIEs for the years
from 2017 to 2023 are open to examination by the PRC tax authorities.

F-94

24. NET LOSS PER SHARE

The following table sets forth the basic and diluted
net income per ordinary share computation and provides a reconciliation of the numerator and denominator for the years presented:

                                                            For the Years Ended                                                                               
                                                            December 31,                                                                                      
                                                            2022                                        2023                         2024                     
                                                            RMB                                         RMB                          RMB                      
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Numerator:                                                                                                                                                  
  Net loss attributable to DDC Enterprise Limited                                    ( 122,025,640                ( 166,341,733                ( 170,196,454  
  Accretion of Redeemable Convertible Preferred Shares                               ( 109,089,609                ( 110,112,796                            -  
  Net loss per ordinary share calculation                                            ( 231,115,249                ( 276,454,529                ( 170,196,454  
  Denominator:                                                                                                                                                
  Weighted average number of Class A ordinary shares                                     5,461,443                    7,219,584                   35,334,758  
  Weighted average number of Class B ordinary shares                                       875,000                      875,000                      875,000  
  Net loss per ordinary share                                                                                                                                 
  — Class A - Basic and