Company: DDC
Filing Date: 2025-01-28
Form Type: 20-F
Source: 0001213900-25-007160
Chunk: 177

Company: DDC Enterprise Ltd
Filing Date: 2025-01-28
Form: 20-F
Item: Item 10
Chunk 177
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 Shares.

Non-U. S. Holders

Cash dividends paid or deemed
paid to a Non-U. S. Holder with respect to the Class A Ordinary Shares generally will not be subject to U. S. federal income tax
unless such dividends are effectively connected with the Non-U. S. Holder’s conduct of a trade or business within the United States
(and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base that such holder maintains
or maintained in the United States).

In addition, a Non-U. S. Holder
generally will not be subject to U. S. federal income tax on any gain attributable to a sale or other taxable disposition of the Class
A Ordinary Shares unless such gain is effectively connected with its conduct of a trade or business in the United States (and, if
required by an applicable income tax treaty, is attributable to a permanent establishment or fixed base that such holder maintains or
maintained in the United States) or the Non-U. S. Holder is an individual who is present in the United States for 183 days
or more in the taxable year of such sale or other disposition and certain other conditions are met (in which case, such gain from U. S. sources
generally is subject to U. S. federal income tax at a 30% rate or a lower applicable tax treaty rate).

Cash dividends and gains that
are effectively connected with the Non-U. S. Holder’s conduct of a trade or business in the United States (and, if required
by an applicable income tax treaty, are attributable to a permanent establishment or fixed base that such holder maintains or maintained
in the United States) generally will be subject to regular U. S. federal income tax at the same regular U. S. federal income
tax rates as applicable to a comparable U. S. Holder and, in the case of a Non-U. S. Holder that is a corporation for U. S. federal
income tax purposes, may also be subject to an additional branch profits tax at a 30% rate or a lower applicable tax treaty rate.

Information Reporting and Backup Withholding

Certain U. S. Holders
are required to report information to the Internal Revenue Service relating to an interest in “specified foreign financial assets,”
including shares issued by a non-United States corporation, for any year in which the aggregate value of all specified foreign financial
assets exceeds $50,000 (or a higher dollar amount prescribed by the Internal Revenue Service