Company: DDC
Filing Date: 2025-10-24
Form Type: F-1
Source: 0001213900-25-102214
Chunk: 344

Company: DDC Enterprise Ltd
Filing Date: 2025-10-24
Form: F-1
Chunk 344
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 not transfer any financial assets or liabilities in or out of Level 3 during the years ended December 31, 2023 and 2024, respectively.

F-76

DDC ENTERPRISE LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 22. OTHER EXPENSES, NET Other expenses, net for the year ended December 31, 2024 consisted of the following (for the years ended December 31, 2022 and 2023: nil and RMB10.4 million):

|                                                          |     | For the years ended December 31 |     |            |     |      |
|                                                          |     |                            2022 |     |       2023 |     | 2024 |
|                                                          |     |                             RMB |     |        RMB |     |  RMB |
| Extinguishment losses                                    |     |                               — |     | 10,440,057 |     |    — |
| Extinguishment gain                                      |     |                               — |     |          — |     |    — |
| Excess of fair value of instruments issued over proceeds |     |                               — |     |          — |     |    — |
| Total                                                    |     |                               — |     | 10,440,057 |     |    — |

23. INCOME TAX a) Income tax Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. Hong Kong S.A.R. Under the current Hong Kong S.A.R. Inland Revenue Ordinance, the Company’s Hong Kong S.A.R. subsidiary is subject to Hong Kong S.A.R. profits tax at the rate of 16.5% on its taxable income generated from the operations in Hong Kong S.A.R. The first HK$2.0 million of assessable profits earned by a company will be taxed at 8.25% whilst the remaining profits will continue to be taxed at 16.5%. There is an anti -fragmentationmeasure where each Company will have to nominate only one company in the Company to benefit from the progressive rates. Payments of dividends by the Hong Kong S.A.R. subsidiary to the Company is not subject to withholding tax in Hong Kong S.A.R. The PRC The Company’s PRC subsidiaries and the VIEs are subject to the PRC Enterprise Income Tax