Ddc Enterprise Limited's Business Segments

DDC Enterprise Limited is a Cayman Islands holding company operating primarily in China through its subsidiaries. Founded in Hong Kong in 2012 by Norma Ka Yin Chu, the company initially operated as an online platform distributing food recipes and culinary content. It has since developed consumer brands targeting Millennials and Generation Z, offering ready-to-heat, ready-to-cook, ready-to-eat, and plant-based meal products. The company also provides advertising services for brands on its platform and video content. In 2015, DDC Shanghai was established to engage in technology development, food circulation, and advertising production in Mainland China. By 2017, the company expanded from content creation to content commerce, and in 2019, it began producing and selling own-branded convenient meal solutions. Beginning May 15, 2025, DDC Enterprise Limited initiated Bitcoin treasury activities, adopting Bitcoin as its primary treasury reserve asset and holding approximately 2,383 bitcoins. The company uses proceeds from equity and debt financings and future cash flows to accumulate Bitcoin and promote its role as digital capital.

The Company operates as a single reportable segment, as determined by the Chief Executive Officer, who serves as the chief operating decision maker (CODM). The CODM evaluates the Company's performance and allocates resources based on the combined results of operations without distinguishing between markets or segments. Segment profitability is measured using combined net income from the combined statements of operations. The CODM monitors budget versus actual results and does not receive additional expense category information beyond the primary financial statements. The Company's long-lived assets are primarily located in the People's Republic of China, and therefore, no geographical segments are reported.