Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 253

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 253
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, the remaining outstanding long-term bank borrowings balance
was US$10,984(equivalent to RMB77,798). As of December 31, 2024, the outstanding long-term bank borrowings balance repayable within the
next twelve months amount of US$9,881(equivalent to RMB71,029) was classified as “current portion of long-term bank borrowings”
on consolidated balance sheets. The remaining outstanding long-term bank borrowings balance was nil.

In December 2024, the Company entered into a number
of three-year loan agreements with WeBank for general working capital purposes, with total principal amount of RMB38,087and would
mature in December 2027, bearing an interest rate of22.27% -32% per annum. The loans were guaranteed by Ms. Wang Xiaoxiao.
The outstanding principal thereon of this loan shall be repaid by 36 equal monthly instalments. RMB417was repaid in 2024. As of December
31, 2024, the outstanding long-term bank borrowings and interest balance repayable within the next twelve months amounted to RMB14,223were
classified as “current portion of long-term bank borrowings” on the consolidated balance sheets. The remaining outstanding
long-term bank borrowings and interest balance was RMB23,447as of December 31, 2024.

F-59

13. BANK BORROWINGS(cont.)

The aggregate maturities of the above long-term
bank borrowings for each year subsequent to December 31, 2024 are as follows:

  For the Years Ending December 31,                 
                              Total      5,256,098  
 ────────────────────────────────────────────────────
                               2025        792,548  
                               2026        624,734  
                               2027        624,734  
                               2028        613,011  
                               2029        487,825  
                2030 and thereafter      2,113,246  

14. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

                                                    As of December 31,                   
                                                                  2023             2024  
 ─────────────────────────────────────────────────────────────────────────────────────────
                                                                   RMB              RMB  
  Salary and welfare payables                                5,534,691        9,989,510  
  Payable for acquisition of Lishang and Lin**