DDC Enterprise Limited公布2026年上半年业绩：收入增长29%，经调整EBITDA转正，资产负债表进一步改善

• 收入同比增长29%至2,020万美元，毛利同比增长17.5%至610万美元

• 核心食品业务录得正的非美国通用会计准则经调整EBITDA为120万美元

• 营运资金由截至2025年12月31日的负1,220万美元改善至截至2026年6月30日的正3,940万美元

• 归属于DDC Enterprise Limited的股东权益总额由截至2025年12月31日的约7,120万美元增至截至2026年6月30日的1.808亿美元

• 截至本新闻稿发布日，DDC持有2,899枚比特币；截至2025年12月31日，持有量为1,181枚

2026年9月2日（GLOBE NEWSWIRE）— 全球亚洲食品平台及数字资产储备公司DDC Enterprise Limited（NYSEAMERICAN：DDC，以下简称“DDC”或“公司”）今日公布截至2026年6月30日止六个月的未经审计财务业绩。业绩显示，DDC核心亚洲食品业务保持强劲增长，经营杠杆持续改善；公司同时稳步推进比特币储备战略，并进一步拓展资本配置框架。

2026年上半年财务亮点人民币及美元金额均按实际数列示；下表数据直接摘自公司Form 6-K中的未经审计财务报表及非美国通用会计准则调节表。

管理层评论

DDC Enterprise Limited创始人、董事会主席兼首席执行官Norma Ch朱嘉盈表示：“2026年上半年业绩显示，我们在双轨战略上取得了切实进展。核心亚洲食品业务实现强劲收入增长，经调整EBITDA转正，主营业务运营改善已经落到实处。期内，公司资产负债表也得到显著改善。营运资金从2025年末的负1,220万美元改善至截至2026年6月30日的正3,940万美元，归属于DDC的股东权益显著增加。与此同时，我们继续执行既定战略，将比特币作为核心企业储备资产，与食品主业形成互补。

“按美国通用会计准则编制的业绩会受到比特币非现金按市值计价会计调整的影响，因此可能出现波动。我们继续推进比特币储备目标，截至本新闻稿发布日持有2,899枚比特币。结合本期实现的资产负债表改善，公司目前拥有多种资本配置工具，可用于创造长期股东价值。我们将继续在扩大食品业务投入与审慎的储备资产决策之间保持平衡，同时确保公司流动性稳健。”

2026年上半年财务概览除另有说明外，所有比较均以2025年上半年为基准。

• 收入：收入增长29%至2,020万美元，主要得益于DDC旗下餐饮品牌进一步扩大零售覆盖和分销渠道。

• 毛利：毛利增长17.5%至610万美元。

• 毛利率：毛利率为30.4%，上年同期为33.4%。这一变化主要由于公司进入销量更高的销售渠道，以扩大收入规模。

• 经调整EBITDA：核心食品业务录得正的非美国通用会计准则经调整EBITDA，为120万美元。

• 美国通用会计准则净亏损：净亏损为3,840万美元，主要由于数字资产产生3,430万美元的非现金未实现公允价值亏损。该会计调整不代表核心食品业务发生经营性现金流出。

• 流动性：截至本新闻稿发布日，现金及现金等价物为250万美元；连同短期投资合计为2,160万美元。

• 营运资金：营运资金由截至2025年12月31日的负1,220万美元显著改善至截至2026年6月30日的正3,940万美元，进一步增强了公司支持持续增长的财务能力。

• 净债务：截至2026年6月30日，净债务为1,020万美元；截至2025年12月31日为6,060万美元。

• 比特币持有量：截至本新闻稿发布日，DDC持有2,899枚比特币；截至2025年12月31日为1,181枚，较2026年初增长145%。

• 储备管理原则：未来增持比特币时，公司将综合评估市场状况、资产负债表流动性、风险参数及预期每股价值增厚。

2026年7月1日，DDC董事会批准一项股份回购计划。公司可在最长18个月内回购价值不超过1,000万美元或不超过已发行A类普通股20%的股份，以较低者为准。

该计划为管理层保留了灵活性，可在股份回购能够为股东带来具有吸引力的风险调整后回报时实施回购。本次授权并不构成公司必须回购任何股份的义务，董事会可随时修改、暂停或终止该计划。

关于DDC Enterprise Limited

DDC Enterprise Limited（NYSEAMERICAN：DDC）在经营全球亚洲食品平台业务的同时，积极推进企业比特币储备战略。公司已将比特币确立为核心储备资产，并持续拓展旗下餐饮品牌组合。DDC是较早将比特币纳入财务架构的上市公司之一。详情请访问www.ddc.xyz。

非美国通用会计准则财务指标的使用

经调整EBITDA是一项非美国通用会计准则财务指标。公司在评估经营业绩以及作出财务和运营决策时使用经调整EBITDA。公司以净利润/（亏损）为基础，在剔除利息费用、利息收入、所得税费用、减值损失、折旧及摊销、与金融工具（包括比特币持有量）相关的非现金按市值计价公允价值调整，以及股份薪酬的影响后计算经调整EBITDA。经调整EBITDA不应单独使用，也不能替代根据美国通用会计准则计算的净利润/（亏损）或任何其他财务业绩指标。

有关非美国通用会计准则财务指标的更多信息，请参阅本公告所载“未经审计的美国通用会计准则与非美国通用会计准则业绩调节表”。

关于前瞻性陈述的特别提示

本公告中的若干陈述属于前瞻性陈述。投资者可通过“可能”“将”“预计”“预期”“目标”“估计”“拟”“计划”“相信”“很可能”“潜在”“继续”等词语或类似表述识别此类前瞻性陈述。

前瞻性陈述包括与公司财务表现及业绩、业务前景、比特币积累战略、股份回购计划、资本配置计划，以及公司目标、战略和未来活动有关的陈述。此类陈述受到不确定性及风险因素影响，包括公司向美国证券交易委员会（“SEC”）提交的Form 20-F、Form 6-K及其他报告中“风险因素”和“管理层对财务状况和经营业绩的讨论与分析”章节所述的风险；相关文件可在www.sec.gov查阅。

前瞻性陈述本身涉及公司无法预测或控制的风险、不确定性及其他因素。尽管公司认为前瞻性陈述所表达的预期合理，但无法保证有关预期最终会实现，实际结果可能与预期存在重大差异。除法律另有规定外，公司不承担因后续事件、情况变化或预期调整而公开更新或修订任何前瞻性陈述的义务。

媒体及投资者联系方式

投资者及媒体关系：pr@ddc.xyz

• Revenue increased 29% year over year to US$20.2 million, with gross

• profit increasing 17.5% to US$6.1 million

• Core food business delivered positive non-GAAP Adjusted EBITDA of US$1.2 million

• Working capital improved to positive US$39.4 million as of June 30, 2026, from negative US$12.2 million as of December 31, 2025

• Total shareholders' equity attributable to DDC Enterprise Limited grew to US$180.8 million as of June 30, 2026, from approximately US$71.2 million as of December 31, 2025

• DDC held 2,899 Bitcoin as of the date of this press release, compared with 1,181 Bitcoin as of December 31, 2025

NEW YORK, Sept. 02, 2026 (GLOBE NEWSWIRE) -- DDC Enterprise Limited (NYSEAMERICAN: DDC) ("DDC" or the "Company"), a global Asian food platform and digital asset treasury company, today released its unaudited financial results for the six months ended June 30, 2026. The results reflect strong growth and improving operating leverage in DDC's core Asian food business, continued execution of its Bitcoin treasury strategy and an expanded capital allocation framework.

First Half 2026 Financial Highlights

RMB and US$ in actual amounts; figures below are reproduced from the unaudited financial statements and non-GAAP reconciliation in the Company's Form 6-K.

Management Commentary

"The first-half 2026 results mark meaningful progress on our dual mandate strategy," said Norma Chu, Founder, Chairwoman and Chief Executive Officer of DDC Enterprise Limited. "Our core Asian food business delivered strong revenue growth and achieved positive Adjusted EBITDA, demonstrating tangible operational improvement in our primary operating franchise. At the same time, we substantially strengthened our balance sheet during the period. Working capital moved from negative $12.2 million at year-end 2025 to positive $39.4 million as of June 30, 2026, and total shareholders' equity attributable to DDC grew significantly. Meanwhile, we maintained our strategic framework under which Bitcoin serves as a core corporate reserve asset, complementing our food business.

"GAAP results are subject to volatility from non-cash Bitcoin mark-to-market accounting adjustments. We advanced our Bitcoin treasury objective, holding 2,899 Bitcoin as of the date of this press release. Together with the balance sheet improvements achieved this period, we now have multiple capital allocation levers to build long-term shareholder value. We will continue balancing investment in food business scaling with prudent treasury decisions while safeguarding corporate liquidity."

First Half 2026 Financial Summary

All comparisons are with the first half of 2025 unless otherwise noted.

• Revenue:

  Revenue increased 29% to US$20.2 million, driven by broader retail penetration and expanded distribution reach for DDC's culinary brand portfolio.

• Gross profit:

  Gross profit increased 17.5% to US$6.1 million.

• Gross margin:

  Gross margin was 30.4%, compared with 33.4% in the prior year period. The change reflected expansion into higher volume sales channels to support top line scale.

• Adjusted EBITDA:

  The core food business delivered positive non-GAAP Adjusted EBITDA of US$1.2 million.

• GAAP net loss:

  Net loss was US$38.4 million, largely driven by a US$34.3 million non-cash unrealized fair value loss on digital assets. The accounting adjustment did not represent an operating cash outflow from the core food business.

• Liquidity:

  As of the date of this press release, cash and cash equivalents were US$2.5 million and, together with short term investments, totaled US$21.6 million.

• Working capital

  Working capital improved materially from negative US$12.2 million as of December 31, 2025 to positive US$39.4 million as of June 30, 2026, significantly strengthening the Company’s financial resources for continued growth.

• Net debt:

  Net debt was US$10.2 million as of June 30, 2026, compared to US$60.6 million as of December 31, 2025.

First Half 2026 Bitcoin Summary

• Bitcoin holdings:

  DDC held 2,899 Bitcoin as of the date of this press release, compared with 1,181 Bitcoin as of December 31, 2025, representing a 145% increase since the start of 2026.

• Treasury discipline:

  Future Bitcoin acquisitions will be evaluated against market conditions, balance sheet liquidity, risk parameters and expected per share value accretion.

Capital Allocation Update

On July 1, 2026, DDC's Board of Directors authorized a share repurchase program of up to US$10 million or 20% of the Company's outstanding Class A ordinary shares, whichever is lower, over a period of up to 18 months.

The program gives management flexibility to repurchase shares when such action offers attractive risk-adjusted returns for shareholders. The authorization does not obligate the Company to repurchase any shares and may be modified, suspended or terminated by the Board at any time.

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.

Use of Non-GAAP Financial Measures

Adjusted EBITDA is a Non-GAAP financial measure. The Company uses Adjusted EBITDA, Non-GAAP financial measures, in evaluating its operating results and for financial and operational decision making purposes. The Company defines Adjusted EBITDA as net income/(loss) excluding interest expense, interest income, income tax expense, impairment losses, depreciation and amortization, non-cash mark-to-market fair value adjustments associated with financial instruments, including Bitcoin holdings, and share based compensation. Adjusted EBITDA should not be considered in isolation or as a substitute for net income/(loss) or any other measure of financial performance calculated in accordance with U.S. GAAP.

For more information on the Non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth in this announcement.

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 a forward-looking statements include those related to the Company's financial performance and results, business prospects, Bitcoin accumulation strategy, share-repurchase program, capital-allocation plans and its goals, strategy and future activity. These statements are subject to uncertainties and risks, including the risk factors discussed in the Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations sections of the Company's Forms 20-F, 6-K and other reports filed with the U.S. Securities and Exchange Commission ("SEC") and available at www.sec.gov.

It is inherent in forward-looking statements that there are 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 investors that such expectations will prove correct. Actual results may differ materially from anticipated results. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent events, circumstances or changes in expectations, except as required by law.

Media and Investor Contacts
Investor and Media Relations: pr@ddc.xyz

DDC ENTERPRISE LIMITED
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)

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CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - (Continued)

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CONSOLIDATED BALANCE SHEETS - (Continued)

DDC ENTERPRISE LIMITED
UNAUDITED RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS