← DDC Enterprise Ltd
| Annual Trend | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| Net loss | ($458.7m) | ($122.2m) | ($162.0m) | ($157.0m) | ($338.0m) | — | |
| Depreciation and amortization | $5.1m | $3.5m | $6.1m | $4.7m | $1.8m | $1.8m | |
| Deferred tax benefit | $815k | ($602k) | ($1.3m) | ($5.2m) | ($2.5m) | — | |
| Share-based compensation | — | $39.0m | $83.9m | $19.1m | $218.3m | $218.3m | |
| Impairment for intangible assets | — | — | — | $18.7m | $7.7m | — | |
| Impairment loss for goodwill | — | — | $6.6m | $67.9m | $21.7m | — | |
| Impairment loss for other equity investments accounted for using Measurement Alternative | — | $22.7m | $8.3m | $5.6m | $8.5m | — | |
| Allowance of accounts receivable | $4.3m | $5.3m | $3.5m | $3.1m | $1.5m | — | |
| Accounts receivable, net | ($2.7m) | ($21.0m) | ($4.5m) | ($4.5m) | ($9.9m) | ($9.9m) | |
| Provision of inventories to net realizable value | $1.3m | $149k | $803k | $4.9m | $179k | — | |
| Inventories | ($5.9m) | $3.1m | ($955k) | $4.1m | ($3.7m) | ($3.7m) | |
| Accounts payable | $3.6m | $668k | $525k | ($9.4m) | $1.2m | $1.2m | |
| Accrued expenses and other current liabilities | $25.7m | $37.0m | $22.4m | $21.3m | ($14.6m) | — | |
| Interest expenses accrued | — | — | ($205k) | ($7.2m) | ($18.1m) | — | |
| Allowance of other current assets | — | $4.3m | — | $4.0m | — | — | |
| Prepayments and other current assets | ($4.4m) | $11.3m | ($53.9m) | ($70.2m) | ($224.6m) | — | |
| Net cash used in operating activities | ($91.4m) |
($37.1m)
+59.44%
|
($89.4m)
-140.95%
|
($112.9m)
-26.36%
|
($277.6m)
-145.86%
|
($277.6m)
0.00%
|
|
| Purchase of property and equipment | ($179k) | ($192k) | ($202k) | ($381k) | ($32k) | ($459.8m) | |
| Net proceeds from disposal of property and equipment | $23k | $14k | $63k | $76k | — | — | |
| Acquisition of short-term investments | ($64.7m) | — | ($104.1m) | — | — | — | |
| Payment of a deposit for investments | ($4.3m) | — | ($4.0m) | — | — | — | |
| Net cash used in investing activities | ($8.4m) | ($445k) | ($135.2m) | ($10.9m) | ($437.2m) | ($437.2m) | |
| Proceeds from short-term bank borrowings | $47.7m | $15.7m | $19.5m | $55.5m | $42.8m | — | |
| Repayment of short-term bank borrowings | ($49.2m) | ($14.0m) | ($59.3m) | ($24.5m) | ($55.9m) | — | |
| Proceeds from long-term bank borrowings | $4.5m | $870k | $5.6m | $38k | — | — | |
| Repayment of long-term bank borrowings | ($400k) | ($652k) | ($2.4m) | ($2.4m) | ($719k) | — | |
| Net cash provided by financing activities | $115.8m |
$51.4m
-55.64%
|
$216.0m
+320.63%
|
$104.3m
-51.73%
|
$676.7m
+548.94%
|
$676.7m
0.00%
|
|
| Cash and cash equivalents, beginning of the year | $13.5m | $26.8m | $78.8m | $61.0m | $21.1m | — | |
| Restricted cash, beginning of the year | $63.8m | $70.1m | $497k | $497k | $17k | — | |
| Cash, cash equivalents and restricted cash at the beginning of the year | $77.3m | $96.9m | $79.3m | $61.0m | $21.1m | — | |
| Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash | $2.7m | $5.8m | ($9.1m) | $1.2m | ($1.7m) | — | |
| Net decrease in cash, cash equivalents and restricted cash | $18.6m | $19.7m | ($17.6m) | ($18.3m) | ($39.8m) | — | |
| Additional Supplementary Disclosures | |||||||
| Additional Supplementary Disclosures | |||||||
| Extinguishment losses, net | $229.6m | — | $10.4m | — | — | — | |
| Termination of franchise agreement | — | — | $11.0m | — | — | — | |
| Unrealized foreign currency exchange (gain)/loss, net | $147k | ($671k) | $67k | ($17k) | — | — | |
| Changes in fair value of financial instruments | $60.8m | $1.9m | ($17.1m) | ($4.8m) | $20.2m | — | |
| Unrealized loss on digital assets | — | — | — | — | $38.7m | — | |
| Gain from deconsolidation of VIEs | — | ($13.5m) | ($135k) | — | — | — | |
| Other non-current assets | $145k | ($32.7m) | ($5.5m) | ($12.9m) | ($8.5m) | — | |
| Contract liabilities | ($356k) | $4.9m | $4.8m | ($1.4m) | $1.6m | — | |
| Operating lease liabilities | — | $1.0m | ($2.4m) | ($1.1m) | $2.8m | — | |
| Cash paid for acquiring a short-term investment | — | ($348k) | ($17.7m) | — | — | — | |
| Payment of consideration payable resulted from acquisition | ($13.2m) | ($2.0m) | ($17.1m) | ($12.0m) | — | — | |
| Cash acquired in business combinations (note 17) | $349k | $2.2m | $7.9m | $1.5m | — | — | |
| Cash disposed upon deconsolidation of VIEs | — | ($128k) | ($53k) | — | — | — | |
| Proceeds from sale of digital assets | — | — | — | — | $22.6m | — | |
| Purchase of digital assets | — | — | — | — | ($459.7m) | — | |
| Proceeds from IPO | — | — | $213.2m | — | — | — | |
| Proceeds from investors | $81.7m | — | — | $15.0m | $138.8m | — | |
| Proceeds from related parties’ loans | $21.1m | $13.0m | $5.3m | $19.2m | $23.2m | — | |
| Repayment of related parties’ loans | ($16.4m) | ($2.1m) | ($8.0m) | ($1.7m) | ($4.1m) | — | |
| Repayment for shareholders’ loans | ($6.2m) | — | ($13.9m) | — | — | — | |
| Proceeds from loans pledged by digital assets | — | — | — | — | $356.5m | — | |
| Issuance of convertible loans, net of issuance costs | $14.5m | $17.4m | $29.7m | $19.2m | $189.4m | — | |
| Repayment of convertible loans | — | — | ($3.5m) | ($541k) | ($3.6m) | — | |
| Proceeds from loans from employees and individuals | $10.2m | $11.4m | $136.3m | $49.5m | $4.5m | — | |
| Repayment of loans from employees and individuals | ($11.6m) | ($3.7m) | ($106.6m) | ($25.1m) | ($14.4m) | — | |
| Interest expenses paid | ($3.7m) | ($4.9m) | ($14.1m) | ($9.6m) | ($2.4m) | — | |
| Income tax paid | ($22k) | ($236k) | ($208k) | — | — | $0 | |
| Business acquisition by ordinary shares | — | — | ($12.0m) | ($48.1m) | — | — | |
| Right-of-use assets obtained in exchange for operating lease obligations | — | ($3.2m) | ($2.4m) | ($1.6m) | ($8.4m) | — |