Company: DDC
Filing Date: 2025-10-24
Form Type: F-1
Source: 0001213900-25-102214
Chunk: 135

Company: DDC Enterprise Ltd
Filing Date: 2025-10-24
Form: F-1
Chunk 135
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 sale and distribution of our products. We continue to engage and grow our customer -basethrough curated and relevant video -content, product placement, and a customer -feedbackinformed product development and distribution strategy. For the year ended December 31, 2024, we recorded RMB273.3 million (US$37.4 million) in total revenue compared to RMB205.5 million for the year ended December 31, 2023, representing a 33.0% increase. The increase in total revenue was mainly due to the increase in offline consumer product sales of RMB258.3 million (US$35.4 million) compared to RMB173.8 million for the year ended December 31, 2023, representing a 48.6% increase. For the six months ended June 30, 2025, we recorded RMB111.9 million (US$15.6 million) in total revenue compared to RMB122.9 million for the six months ended June 30, 2024, representing a 8.9% decrease. The revenue decline is primarily attributable to the Company’s response to persistent losses in the U.S. market and uncertainties in the Asian food sector, based on which we have prudently scaled back our overseas operations. For the year ended December 31, 2024, we incurred net loss of RMB157.0 million (US$21.5 million) and net loss of RMB162.0 million for the year ended December 31, 2023. We also had negative cash flows from operating activities of RMB112.9 million (US$15.5 million) and RMB89.4 million for the years ended December 31, 2024 and 2023 respectively. For the six months ended June 30, 2025, we incurred net profit of RMB37.1 million (US$5.2 million) and net loss of RMB 36.7 million for the six months ended June 30, 2024, which was mainly attributable to improved margin, disciplined cost control and the fair value gain on the Bitcoins at the end of the reporting period. For the six months ended June 30, 2025, our fulfillment expenses were RMB 2.9 million (US$0.4 million), which is RMB 5.1 million for the six months ended June 30, 2024. For the six months ended June 30