Company: DDC
Filing Date: 2025-10-24
Form Type: F-1
Source: 0001213900-25-102214
Chunk: 342

Company: DDC Enterprise Ltd
Filing Date: 2025-10-24
Form: F-1
Chunk 342
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 |     |   4,716,634 |   |
| Extinguishment upon conversion                                          |     |            — |   |     |           — |   |     |   9,432,067 |   |     |             — |   |     | —         |     |                — |   |     |           — |   |     |   9,432,067 |   |
| Extinguishment upon reclassification                                    |     |            — |   |     |           — |   |     |   8,807,795 |   |     |             — |   |     | —         |     |                — |   |     |           — |   |     |   8,807,795 |   |
| Extinguishment upon settlement                                          |     |            — |   |     |           — |   |     |     541,306 |   |     |             — |   |     | —         |     |                — |   |     |           — |   |     |     541,306 |   |
| Extinguishment upon maturity                                            |     |       87,279 |   |     |           — |   |     |           — |   |     |             — |   |     | —         |     |                — |   |     |           — |   |     |      87,279 |   |
| Balance as of December 31, 2024                                         |     |            — |   |     |           — |   |     | (10,076,081 | ) |     |             — |   |     | —         |     |                — |   |     |           — |   |     | (10,076,081 | ) |

____________ *The Option liability was expired in February 2023, the Class A OS Warrant was expired in September 2023.

F-75

DDC ENTERPRISE LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 21. FAIR VALUE MEASUREMENT (cont.) Recurring The Company measured the fair value of its warrant liabilities on a recurring basis using significant unobservable (Level 3) inputs as of December 31, 2023. The Company did not have warrant liabilities in 2024. The Company estimated the fair values of warrant liabilities using the binomial option -pricingmodel with the assistance of an independent third -partyvaluation firm using the