Company: DDC
Filing Date: 2025-07-22
Form Type: F-3
Source: 0001213900-25-066338
Chunk: 173

Company: DDC Enterprise Ltd
Filing Date: 2025-07-22
Form: F-3
Chunk 173
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 otherwise, the selling
shareholders may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the Class A Ordinary
Shares in the course of hedging in positions they assume. The selling shareholders may also sell Class A Ordinary Shares short and deliver
Class A Ordinary Shares covered by this prospectus to close out short positions and to return borrowed shares in connection with such
short sales. The selling shareholders may also loan or pledge Class A Ordinary Shares to broker-dealers that in turn may sell such shares.

<div align='center'>92</div>

The selling shareholders may
pledge or grant a security interest in some or all of the Shares, the Commitment Shares, the ELOC Shares, the Notes or the Warrants or
ordinary owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer
and sell the Class A Ordinary Shares from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3)
or other applicable provision of the Securities Act amending, if necessary, the list of selling shareholders to include the pledgee, transferee
or other successors in interest as selling shareholders under this prospectus. The selling shareholders also may transfer and donate the
Class A Ordinary Shares in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be
the selling beneficial owners for purposes of this prospectus.

To the extent required by
the Securities Act and the rules and regulations thereunder, the selling shareholders and any broker-dealer participating in the distribution
of the Class A Ordinary Shares may be deemed to be “underwriters” within the meaning of the Securities Act, and any commission
paid, or any discounts or concessions allowed to, any such broker-dealer may be deemed to be underwriting commissions or discounts under
the Securities Act. At the time a particular offering of the Class A Ordinary Shares is made, a prospectus supplement, if required, will
be distributed, which will set forth the aggregate amount of Class A Ordinary Shares being offered and the terms of the offering, including
the name or names of any broker-dealers or agents, any discounts, commissions and other terms constituting compensation from the selling
shareholders and any discounts, commissions or concessions allowed or re-allowed or paid to broker-dealers.

Under the securities laws
of some states, the Class A Ordinary Shares may be sold in such states only through registered