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 and plant-based products targeting Millennials and Gen Z.

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

• Business model includes omni-channel sales, direct-to-consumer and retail distribution, and a growing portfolio of food brands, with recent expansion into the U.S. and Southeast Asia through acquisitions and partnerships.

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.

• Continued net losses and negative cash flows from operations, with adjusted EBITDA losses of RMB25.4 million (US $3.5 million) in 2024.

• 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 purchasing Bitcoin for treasury reserves.

• Management retains broad discretion over capital allocation, with a focus on enhancing shareholder value and supporting international expansion.