Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 260

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 260
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 on the consolidated balance sheets,
the remaining outstanding long-term bank borrowings balance was HK$1,358,938(equivalent to RMB1,231,470).

In September 2022, the Company entered into a two-year loan agreement
with WeBank for general working capital purposes, with total principal amount of RMB300,000and would mature in September 2024, bearing
an interest rate of17.82% per annum. This loan was guaranteed by Mr. Ding Lichun. The outstanding principal thereon of this loan shall
be repaid by 24 equal monthly instalments. RMB37,500and RMB150,000were repaid in 2022 and 2023, respectively. As of December 31, 2022
and 2023, the outstanding long-term bank borrowings and interest balance repayable within the next twelve months amounted to RMB150,000and RMB112,500was classified as “current portion of long- term bank borrowings” on the consolidated balance sheets respectively.
The remaining outstanding long-term bank borrowings and interest balance was RMB112,500and RMB nilas of December 31, 2022 and 2023,
respectively.

In October 2022, RMB70,000was drawn from the July 2022 credit facility
agreement facility and would mature in October 2024, and the outstanding principal thereon of this facility shall be repaid by 24 equal
monthly instalments. RMB5,833and RMB35,000was repaid in 2022 and 2023, respectively. As of December 31, 2022 and 2023, balance of RMB35,000and RMB29,167repayable within the next twelve months was classified as “current portion of long-term bank borrowings” and
RMB29,167and RMB nilare repayable beyond one year was classified as long-term bank borrowings on the consolidated balance sheets, respectively.

F-62

13. BANK BORROWINGS(cont.)

From October to December 2022, the Company
entered into a number of two-year loan agreements with WeBank for general working capital purposes, with total principal amount of
RMB170,062and would mature from October to December 2024, bearing an interest rate of12.96% -17.82% per annum. The loans were
guaranteed by Ms. Wang Xiaoxiao.