Company: DDC
Filing Date: 2025-07-22
Form Type: F-3
Source: 0001213900-25-066338
Chunk: 85

Company: DDC Enterprise Ltd
Filing Date: 2025-07-22
Form: F-3
Chunk 85
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 significantly decreased during prior periods, and
such declines may occur again in the future.

Bitcoin does not pay interest or dividends. Bitcoin
does not pay interest or other returns and we can only generate cash from our bitcoin holdings if we sell our bitcoin or implement strategies
to create income streams or otherwise generate cash by using our bitcoin holdings. Even if we pursue any such strategies, we may be unable
to create income streams or otherwise generate cash from our bitcoin holdings, and any such strategies may subject us to additional risks.

Our bitcoin holdings will
significantly impact our financial results and the market price of our listed securities. Our bitcoin holdings are expected to significantly
affect our financial results and if we continue to increase our overall holdings of bitcoin in the future, they will have an even greater
impact on our financial results and the market price of our listed securities. See “Risks Related to Our Bitcoin Strategy and Holdings
– Our historical financial statements do not reflect the potential variability in earnings that we may experience in the future
relating to our bitcoin holdings.”

Our assets are concentrated in bitcoin. The vast
majority of our assets are concentrated in our bitcoin holdings. The concentration of our assets in bitcoin limits our ability to mitigate
risk that could otherwise be achieved by holding a more diversified portfolio of treasury assets.

We purchase bitcoin using primarily proceeds from
equity and debt financings. Our ability to achieve the objectives of our bitcoin strategy depends in significant part on our ability to
obtain equity and debt financing. If we are unable to obtain equity or debt financing on favorable terms or at all, we may not be able
to successfully execute on our bitcoin strategy.

Our bitcoin strategy has not been tested over an
extended period of time or under different market conditions. We are continually examining the risks and rewards of our strategy to acquire
and hold bitcoin. This strategy has not been tested over an extended period of time or under different market conditions. For example,
although we believe bitcoin, due to its limited supply, has the potential to serve as a hedge against inflation in the long term, the
short-term price of bitcoin declined in recent periods during which the inflation rate increased. If bitcoin prices were to decrease or
our bitcoin strategy otherwise proves unsuccessful, our financial condition, results of operations, and the market price of our listed
securities would be materially adversely impacted.

We are subject to counterparty risks, including
in particular risks relating to our custodians. Although we have implemented various measures that are designed to mitigate our counterparty