Company: DDC
Filing Date: 2025-07-22
Form Type: F-3
Source: 0001213900-25-066338
Chunk: 113

Company: DDC Enterprise Ltd
Filing Date: 2025-07-22
Form: F-3
Chunk 113
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 advance notice, along with the risk
that the Chinese government may intervene or influence our operations at any time, could result in a material change in our operations,
financial performance and/or the value of our Class A Ordinary Shares or impair our ability to raise money through sales of our equity
securities.

The Chinese government exerts substantial influence over the manner in which we must conduct our business activities, and may intervene or influence our operations at any time, or may exert more oversight and control over offerings conducted overseas. Any actions by the Chinese government to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers could significantly limit or completely hinder our ability to offer or continue to offer our Class A Ordinary Shares to investors and could cause the value of our Class A Ordinary Shares to significantly decline or become worthless.

The Chinese government has
exercised and continues to exercise substantial control over virtually every sector of the Chinese economy through regulation and state
ownership. Our ability to operate in China may be harmed by changes in its laws and regulations, including those relating to taxation,
environmental regulations, land use rights, property and other matters. We believe that our operations in China are in material compliance
with all applicable legal and regulatory requirements. However, the central or local governments of these jurisdictions may impose new,
stricter regulations or interpretations of existing regulations that would require additional expenditures and efforts on our part to
ensure our compliance with such regulations or interpretations. Accordingly, government actions in the future, including any decision
not to continue to support recent economic reforms and to return to a more centrally planned economy or regional or local variations in
the implementation of economic policies, could have a significant effect on economic conditions in China or particular regions thereof,
and could require us to divest ourselves of any interest we then hold in Chinese properties.

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For example, the Chinese cybersecurity
regulator announced on July 2, 2021 that it had begun an investigation of Didi Global Inc. (NYSE: DIDI) and two days later
ordered that Didi Global Inc.’s app be removed from smartphone app stores.

As such, our PRC subsidiaries
may be subjected to various government and regulatory interference in the provinces in which they operate. Our PRC subsidiaries could
be subject to regulations by various political and regulatory entities, including various local and municipal agencies and government
sub-divisions. We may incur increased costs necessary to comply with existing and newly adopted laws and regulations or penalties for