NEW YORK--(BUSINESS WIRE)--Apr 21, 2026--
DDC Enterprise Limited (NYSEAMERICAN: DDC) (“DDC” or the “ Company ”), a global Asian food platform and digital asset treasury company, released its unaudited financial results for the twelve months ended December 31, 2025. The Company’s results reflect continued progress in its core consumer food business, alongside the initial build-out of its Bitcoin treasury strategy.
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Fiscal Year 2025 Financial Highlights
Management Commentary
“2025 was an important step forward for DDC,” said Norma Chu, Founder, Chairwoman and CEO of DDC.
“We delivered record revenue and achieved positive Adjusted EBITDA, reflecting continued improvement in the operating efficiency and margin profile of our core consumer food business. This advancement is supported by expansion in our offline distribution channels and deeper penetration into lower-tier cities.
“At the same time, we made a deliberate decision to invest in building our Bitcoin treasury strategy, and today, we rank among the top 30 publicly traded corporate holders of Bitcoin globally, representing approximately $182 million value based on current market prices.
“While these investments impacted reported profitability in the second half, they reflect our focus on building a disciplined capital allocation framework designed to create value over time.”
Ms. Chu continued, “As we move into 2026, we remain focused on growing our core business while maintaining discipline around our cost structure and continuing to execute our Bitcoin strategy in a measured and strategic manner. We are also investing in the AI infrastructure that supports how we manage our treasury, with the goal of improving consistency, transparency, and long-term capital allocation.”
Fiscal Year 2025 Financial Summary
All amounts compared to fiscal year 2024 unless otherwise noted
H2 2025 Financial Summary
All amounts compared to H2 2024 unless otherwise noted
Fiscal Year 2025 Bitcoin Summary
Fiscal Year 2025 Capital Markets Summary
DDC Treasury Intelligence Platform
DDC has launched the DDC Treasury Intelligence Platform, a purpose-built AI operating system for managing the Company’s Bitcoin treasury with greater discipline, transparency, and long-term focus on shareholder value.
The Company believes it is among the first listed companies to invest dedicated infrastructure of this kind for corporate Bitcoin treasury management. At its core is the DDC Treasury Graph – a governed knowledge framework that unifies Bitcoin positions, market data, historical decisions, and outcomes into a continuously learning system.
The platform supports, rather than replaces, management judgement by structuring how treasury decisions are evaluated – improving decision quality, risk management, and transparency with clearly defined governance parameters.
Over time, DDC expects this capability to strength capital allocation efficiency and deliver superior risk-adjusted outcomes across market cycles, while laying the groundwork for broader AI decision systems across the Company and potential commercial applications for other organizations.
Earnings Conference Call
DDC will host its Fiscal Year 2025 earnings conference call at 8:30 am Eastern Time today, April 21, 2026. A live webcast of the conference call will be available online at https://ir.ddc.xyz/news-events/ir-calendar and an archived replay will be accessible at the same location for up to one year.
Annual Report on Form 20-F
Today, the Company filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (SEC). The Annual Report on Form 20-F, which contains the Company's audited consolidated financial statements, can be accessed on the Company's investor relations website at https://ir.ddc.xyz, as well as on the SEC's website at www.sec.gov.
Shareholders may, upon request, receive a hard copy of the Company's complete audited financial statements free of charge. Requests should be directed to DDC Enterprise Limited, 368 9th Avenue, New York, NY 10001, or by email to capital@ddc.xyz.
About DDC Enterprise Limited
DDC Enterprise Limited (NYSEAMERICAN: DDC) is participating proactively in the corporate Bitcoin treasury evolution while maintaining its foundation as a leading global Asian food platform. The Company has strategically positioned Bitcoin as a core reserve asset while continuing to expand its portfolio of culinary brands. DDC is at the forefront of public companies integrating Bitcoin into their financial architecture. For more information, visit www.ddc.xyz.
Caution Regarding Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. Examples of forward-looking statements include those related to the Company’s financial results, accumulation of Bitcoin, financing transactions, Treasury Intelligence Platform, and its goals, strategy and future activity. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 20-F, 6-K and other reports filed with the Securities and Exchange Commission (“SEC”) and available at www.sec.gov. It is also inherent in forward-looking statements for there to be risks, uncertainties and other factors beyond the Company’s ability to predict or control. 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 filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. 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 that arise after the date hereof, except as may be required by law.
1 All year-over-year comparisons in the 20-F are based on the underlying RMB amounts. As a result, the growth percentages shown in the earnings release may differ from those in the 20-F.
Use of Non-GAAP Financial Measures
For second half and full-year 2025, the Company defines “Adjusted EBITDA”, a non-GAAP financial measure, as net income/(loss) excluding interest, tax expense, foreign currency exchange gain/(loss), impairment loss for long-term assets, depreciation and amortization, non-cash market-to-market fair value adjustments associated with financial instruments including Bitcoin holdings and share-based compensation.
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