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DDC Enterprise Files 2023 Annual Report Form 20-F

1. DDC filed its 2023 Form 20-F with the SEC, ensuring compliance. 2. No longer a late filer, enabling its business strategy to proceed smoothly. 3. Audit opinion raises concerns about DDC's ability to continue as a going concern. 4. Strengthened accounting staff led to improved financial reporting results. 5. DDC emphasizes its commitment to enhance shareholder communication.

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FAQ

Why Neutral?

While DDC is compliant with SEC, the going concern qualification raises investor concerns.

How important is it?

The filing compliance is significant but overshadowed by the audit's going concern qualification.

Why Short Term?

Short-term effect expected as investors react to the audit qualification.

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DDC
NEW YORK--(BUSINESS WIRE)--DDC Enterprise, Ltd. (NYSEAM: DDC), (“DayDayCook,” “DDC,” or the “Company”), a leading multi-brand Asian consumer food company, today announced that it completed and filed the Company's annual report on Form 20-F for the year ended December 31, 2023 (the "2023 Form 20-F") with the U.S. Securities and Exchange Commission (the "SEC"). The Company is now current with its SEC financial filing requirements and is no longer a late filer under the NYSE rules. “DDC is happy to achieve this critical reporting milestone,” said DDC’s chief executive officer Norma Chu. “This allows DDC to continue its business strategy unencumbered by the delays created by a late financial statement filing in our first year as a NYSE-AM listing. In 2024, we substantially bolstered our accounting and finance staff and we are now seeing important benefits from those efforts.” Receipt of Audit Opinion with Going Concern Qualification Pursuant to the disclosure requirements of the NYSE American Company Guidelines Sections 401(h) and 610(b), DDC is reporting that its audited financial statements for the fiscal year ended December 31, 2023, included in DDC's Annual Report on Form 20-F filed with the SEC on January 28, 2025, contains an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to DDC's ability to continue as a going concern. This announcement does not represent any change or amendment to the Company's financial statements or to its Annual Report on Form 20-F for the fiscal year ended December 31, 2023. Availability of Audited Financial Statements Further information may be obtained from the Company’s web site at ir.daydaycook.com. Shareholders may receive a hard copy of the Company’s complete audited financial statements free of charge upon request by submitting a request on the Company’s website. ABOUT DAYDAYCOOK DayDayCook is on a mission to share the joy of Asian cooking culture with the world, offering a suite of accessible and healthy ready-to-eat, ready-to-cook, and ready-to-heat products that cater to the global palate. DayDayCook has evolved from a culinary content authority to a multi-brand powerhouse, curating a broad range of products that champion authenticity, nutrition, and convenience. The company's growing portfolio includes DayDayCook, Nona Lim, Yai’s Thai, Omsom, MengWei, and Yujia Weng. Follow the Company on LinkedIn. Forward-Looking Statements Certain statements in this press release are forward-looking statements, including, for example, statements about NYSE and SEC compliance, estimated revenue, margins, cash and growth and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

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