Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 166

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 166
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 actually or constructively own 5% or more of the total combined voting power of all classes of our voting stock; or  

  partnerships or other entities taxable as partnerships for U. S. federal income tax purposes, or persons holding Class A Ordinary Shares through such entities.  

Each U. S Holder is urged to
consult their own tax advisors regarding the application of U. S. federal taxation to their particular circumstances, and the state, local,
non-U. S. and other tax consequences of the ownership and disposition of our Class A ordinary shares.

For purposes of this discussion,
a “ U. S. Holder” is a beneficial owner of our Class A Ordinary Shares that is, for U. S. federal income tax purposes:

  an individual who is a citizen or resident of the United States;  

  a corporation (or other entity taxable as a corporation for U. S. federal income tax purposes) created or organized in the United States or under the laws of the United States, any state thereo...  

  an estate, the income of which is subject to U. S. federal income taxation regardless of its source; or  

  a trust that (1) is subject to the primary supervision of a court within the United States and the control of one or more U. S. persons for all substantial decisions, or (2) has a valid electio...  

If a partnership (or other
entity treated as a partnership for U. S. federal income tax purposes) is a beneficial owner of our Class A Ordinary Shares, the tax
treatment of a partner in the partnership will generally depend upon the status of the partner and the activities of the partnership.
Partnerships holding our Class A Ordinary Shares and their partners are urged to consult their tax advisors regarding an investment in
our Class A Ordinary Shares.

Taxation of Dividends and Other Distributions
on Our Class A Ordinary Shares

Subject to the discussion
below under “ Passive Foreign Investment Company Rules,” any cash distributions (including the amount of any PRC tax withheld)
paid on our Class A Ordinary Shares out of our current or accumulated earnings and profits, as determined under U. S. federal income
tax principles, will generally be includible in the gross income of a U. S. Holder as dividend income on the day actually or
constructively received by the U. S. Holder. Because we do not intend to determine our earnings and profits on the basis of U. S. federal
income tax principles, any distribution we pay will