DDC Enterprise Ltd. Files 2023 Annual Report

TL;DR

DDC Enterprise Ltd. filed its 2023 20-F, showing operations in food products based in NY.

AI Summary

DDC Enterprise Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company, incorporated in the Cayman Islands, operates within the Food & Kindred Products sector. Its principal executive offices are located at 368 9th Ave, New York, NY.

Why It Matters

This filing provides investors with a comprehensive overview of DDC Enterprise Ltd.'s financial performance and business operations for the fiscal year 2023, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual report filing, not indicating any immediate or specific risks.

Key Numbers

• 2023 — Fiscal Year End (The report covers the financial performance up to December 31, 2023.)
• 001-41872 — SEC File Number (Identifies the company's filing with the SEC.)

Key Players & Entities

• DDC Enterprise Ltd (company) — Filer of the 20-F report
• 0001213900-25-007160 (dollar_amount) — Accession Number for the filing
• 20231231 (dollar_amount) — Conformed period of report (fiscal year end)
• 20250128 (dollar_amount) — Filing date
• 001-41872 (dollar_amount) — SEC file number
• 368 9th Ave, New York, NY (dollar_amount) — Business and mailing address

FAQ

Key Financial Figures

• $0.016 — red Class A Ordinary Shares, par value $0.016 per share DDC NYSE American Securitie

Filing Documents

• ea0208402-20f_ddcenter.htm (20-F) — 4516KB
• ea020840201ex2-2_ddcenter.htm (EX-2.2) — 41KB
• ea020840201ex10-1_ddcenter.htm (EX-10.1) — 131KB
• ea020840201ex12-1_ddcenter.htm (EX-12.1) — 16KB
• ea020840201ex12-2_ddcenter.htm (EX-12.2) — 16KB
• ea020840201ex13-1_ddcenter.htm (EX-13.1) — 5KB
• ea020840201ex13-2_ddcenter.htm (EX-13.2) — 6KB
• ea020840201ex97_ddcenter.htm (EX-97) — 22KB
• image_001.jpg (GRAPHIC) — 192KB
• 0001213900-25-007160.txt ( ) — 25552KB
• ddc-20231231.xsd (EX-101.SCH) — 215KB
• ddc-20231231_cal.xml (EX-101.CAL) — 158KB
• ddc-20231231_def.xml (EX-101.DEF) — 1019KB
• ddc-20231231_lab.xml (EX-101.LAB) — 1685KB
• ddc-20231231_pre.xml (EX-101.PRE) — 1062KB
• ea0208402-20f_ddcenter_htm.xml (XML) — 4091KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No TABLE OF CONTENTS PART I. 1

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1

KEY INFORMATION

ITEM 3. KEY INFORMATION 1

INFORMATION ON THE COMPANY

ITEM 4. INFORMATION ON THE COMPANY 52

UNRESOLVED STAFF COMMENTS

ITEM 4A. UNRESOLVED STAFF COMMENTS 55

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 56

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 76

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 84

FINANCIAL INFORMATION

ITEM 8. FINANCIAL INFORMATION 87

THE OFFER AND LISTING

ITEM 9. THE OFFER AND LISTING 89

ADDITIONAL INFORMATION

ITEM 10. ADDITIONAL INFORMATION 89

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 101

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 101 PART II. 102

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 102

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 102

CONTROLS AND PROCEDURES

ITEM 15. CONTROLS AND PROCEDURES 102

[RESERVED]

ITEM 16. [RESERVED] 103

AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 103

CODE OF ETHICS

ITEM 16B. CODE OF ETHICS 103

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 104

EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 104

PURCHASER OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E. PURCHASER OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 105

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 105

CORPORATE GOVERNANCE

ITEM 16G. CORPORATE GOVERNANCE 107

MINE SAFETY DISCLOSURE

ITEM 16H. MINE SAFETY DISCLOSURE 107

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 107

INSIDER TRADING POLICIES

ITEM 16J. INSIDER TRADING POLICIES 107

CYBERSECURITY

ITEM 16K. CYBERSECURITY 107 PART III. 108

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS 108

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 108

EXHIBITS

ITEM 19. EXHIBITS 108 i PART I

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information

Selected Financial Data

Selected Financial Data The following selected historical consolidated statements of operations and comprehensive loss data (other than US$ data) for the years ended December 31, 2023, 2022 and 2021, the selected consolidated balance sheets data (other than US$ data) as of December 31, 2023 and 2022 and the selected consolidated consolidated financial statements included elsewhere in this report. Our financial statements have been prepared in accordance with generally accepted accounting principles in the United States, or U.S. GAAP. Our historical results are not necessarily indicative of results to be expected for any future period. The information is only a summary and should be read in conjunction with our consolidated financial statements and related notes, and " Management's Discussion and Analysis of Financial Condition and Results of Operations " contained elsewhere herein. For the Years Ended December 31, 2021 2022 2023 2023 RMB RMB RMB US$ Consolidated statements of operations and comprehensive loss Data: Total revenues 205,179,442 179,586,066 205,481,904 28,941,521 Total cost of revenues (168,721,834 ) (135,659,197 ) (154,026,591 ) (21,694,192 ) Gross profit 36,457,608 43,926,869 51,455,313 7,247,329 Fulfilment expenses (23,967,825 ) (10,630,884 ) (7,315,978 ) (1,030,434 ) Sales and marketing expenses (59,239,750 ) (20,763,218 ) (17,440,192 ) (2,456,400 ) Research and development expenses (233,663 ) — — — General and administrative expenses (66,636,360 ) (53,543,862 ) (82,460,706 ) (11,614,348 ) Impairment loss on goodwill — — (6,592,220 ) (928,495 ) Share based compensation — (38,993,201 ) (83,863,299 ) (11,811,899 ) Loss from operations (113,619,990 ) (80,004,296 ) (146,217,082 ) (20,594,247 ) Interest expenses (22,842,091 ) (30,826,950

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View this 20-F filing on SEC EDGAR