Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 277

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 277
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 shares to an investor at US$30.72per share for a total cash consideration of US$7.0million (equivalent
to RMB47.6million).

In November 2017, the Company in aggregate issued228,813Series B-1 redeemable convertible preferred shares to investors at US$35.36per share for a total cash consideration of US$8.1million (equivalent to RMB53.5million). In connection with the issuance of Series B-1 redeemable convertible preferred shares, the Company
agreed to grant one investor an option (“the 2017 Option”) to acquire56,688number of equity securities in the next qualified
financing for the consideration of US$2.0million (equivalent to RMB13.3million).

In September 2018, the Company issued205,594Series B-2 redeemable convertible preferred shares to an investor at US$48.64per share for a total cash consideration of US$10.0million
(equivalent to RMB68.5million). In addition, the Company also issued130,533Series B-2 redeemable convertible preferred shares to convertible
loan holders who elected to convert their 2018 Convertible loans upon the closing of the Series B-2 redeemable convertible preferred shares
financing. In September 2018, the Company received an amendment letter from the 2017 Option holder and agreed proposing to amend
the 2017 Option so that the option can be exercised at the Company’s next qualified financing after the issuance of B-2 redeemable
convertible preferred shares.

In July 2019, the Company issued51,398Series B-2 redeemable convertible preferred shares to investors at US$48.64per share for a total cash consideration of US$2.5million
(equivalent to RMB17.2million).

In July 2019, the Company issued110,578Series
C redeemable convertible preferred shares to investors at US$57.12per share for a total cash consideration of US$6.3million (equivalent
to RMB43.4million). In addition, the 2017 Option holder exercised the option to acquire56,688Series C redeemable convertible preferred
shares for a total cash consideration of US$2.0million (equivalent to RMB13.7million). The56,688Series C redeemable convertible preferred
shares were recorded at their fair value of US$57.12