Company: DDC
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043916
Chunk: 105

Company: DDC Enterprise Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 105
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 goodwill                                                                              —        (6,592,220       (67,932,627       (9,306,732  
  Share based compensation                                                                       (38,993,201       (83,863,299       (19,143,702       (2,622,676  
  Loss from operations                                                                           (80,004,296      (146,217,082      (137,444,084      (18,929,763  
  Interest expenses                                                                              (30,826,950       (12,178,668       (16,738,971       (2,293,230  
  Interest income                                                                                    465,162         2,562,605         3,248,285          445,013  
  Foreign currency exchange (loss)/gain, net                                                         671,007           (66,798            16,927            2,319  
  Impairment loss for equity investments accounted for using measurement alternative             (22,705,285        (8,288,296        (5,645,887         (773,483  
  Gain from deconsolidation of VIEs                                                               13,543,650           134,665                 —                —  
  Other income                                                                                     1,599,746           421,449         1,912,396          261,997  
  Other expenses, net                                                                                      —       (10,440,057                 —                —  
  Changes in fair value of financial instruments                                                  (1,875,889        17,101,260         4,803,913          658,133  
  Loss before income tax expenses                                                               (119,132,855      (156,970,922      (149,847,421      (20,529,014  
  Income tax expense                                                                              (3,115,753        (5,004,766        (7,143,653         (978,676  
  Net loss                                                                                      (122,248,608      (161,975,688      (156,991,074      (21,507,690  

Key Components of Our Results of Operations

Revenues

We are a China-based Business-to-Business
(“ B2B”) and Business-to-Consumer (“ B2C”) content streaming and product marketplace offering easy, convenient RTC,
RTH and RTE meals. We also offer plant-based meal products promoting healthier lifestyle choices to our predominately Millennial and GenZ
customer-base.

The