DDC Enterprise (DDC) Registration Filing summary

Company overview and business model

• Operates as a Cayman Islands holding company with principal operations in China and expanding internationally, focusing on content-driven consumer brands in convenient meal solutions (RTH, RTC, RTE, plant-based) and advertising services.

• Recently adopted a Bitcoin treasury strategy, accumulating Bitcoin as a primary reserve asset and integrating digital assets into capital management.

• Pursues omni-channel sales (online/offline), direct-to-consumer, retailer, and wholesaler distribution, with a growing international presence, including acquisitions in the U.S.

Financial performance and metrics

• Reported total revenue of RMB273.3 million (US$37.4 million) for the year ended December 31, 2024, a 33% increase from the prior year.

• Gross margin improved to 28.7% in 2024 from 25.0% in 2023.

• Incurred net losses in 2022, 2023, and 2024, with negative cash flows from operations and adjusted EBITDA losses.

• As of July 15, 2025, holds approximately 368 bitcoins acquired at an aggregate purchase price of $33.3 million.

Use of proceeds and capital allocation

• Proceeds from offerings are intended for business development, working capital, general corporate purposes, and strategic acquisitions.

• A significant portion of capital raised through recent financings is allocated exclusively to Bitcoin purchases, with funds held in secured collateral accounts.

• Management retains broad discretion over capital allocation, with a focus on enhancing shareholder value and long-term asset appreciation.