Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 262

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 19
Chunk 262
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, the outstanding long-term bank borrowings and interest balance repayable within the next twelve
months amounted to RMB685,715was classified as “current portion of long- term bank borrowings” on the unaudited condensed
consolidated balance sheets. The remaining outstanding long- term bank borrowings and interest balance was RMB399,999.

In September 2023, the Company entered into a ten-year term facility
with Nanyang Commercial Bank (“ NCB”), which allows the Company to draw borrowings up to HK$4,550,000for general working capital
purposes. HK$4,550,000(equivalent to RMB4,123,210as of December 31, 2023) was drawn from this facility in October 2023 and would mature
in October 2033, at an interest rate of3.625% per annum, and the outstanding principal and interest accrued thereon of this facility
shall be repaid by 120 equal monthly instalments, commencing 1 months after the drawdown date. This facility was guaranteed by Mr. Samuel
Derk Shuen Lim, Mr. Lin Kai Hang, Mr. Sio Ieng Kit, Mr. Tang Wai Cheung and Ms. Norma Ka Yin Chu for each guaranteed amount of HK$4,550,000.
HK$63,048(equivalent to RMB57,613) was repaid in 2023. As of December 31, 2023, the outstanding long-term bank borrowings balance repayable
within the next twelve months amount of HK$386,413(equivalent to RMB350,168) was classified as “current portion of long-term bank
borrowings” on consolidated balance sheets, the remaining outstanding long- term bank borrowings balance was HK$4,100,539(equivalent
to RMB3,715,908).

In September 2014, Cook SF entered into a five-year
term facility with Beneficial State Bank (“ BSB”), which allows the Company to draw borrowings up to US$100,000for business
purposes. In March 2020, the facility was extended to December 3, 2025 and allows the Company to draw borrowings up to US$199,547for
business purposes, at an interest rate of4% per annum, and the outstanding principal and interest accrued thereon of this facility shall
be repaid by 60 equal monthly instalments since April