DDC 6-K/A Adds Cash Flow Detail: Cash Falls to US$0.7M as Bitcoin Loss Drives US$38.4M Net Loss
DDC sits 15% above its 52-week low of $0.118.
Summary
DDC's amended 6-K adds the cash flow statement and notes missing from its October 23 filing, showing cash down to US$0.7 million, a US$38.4 million net loss driven by a non-cash bitcoin write-down, and 601 bitcoins already pledged away to settle US$50.7 million of secured borrowings.
Key Events · Earnings and Guidance · DDC
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Cash Flow Statement Finally Disclosed
Net cash used in operating activities was RMB3.8 million (US$0.6 million) for the six months to June 30, 2026 versus RMB50.5 million a year earlier; financing activities used RMB5.5 million (US$0.8 million) versus RMB114.2 million provided in the prior-year period.
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Cash Falls to US$0.7 Million
Cash and cash equivalents were RMB4.9 million (US$0.7 million) at June 30, 2026, down from RMB21.1 million at December 31, 2025, a net decrease of RMB16.2 million (US$2.3 million) over the half.
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Bitcoin Mark-Down Drives US$38.4 Million Loss
Net loss of RMB260.6 million (US$38.4 million) versus RMB37.1 million of net income a year earlier, driven by a non-cash unrealized loss on digital assets of RMB232.5 million (US$34.3 million); adjusted EBITDA for the food business was still positive at RMB8.1 million (US$1.2 million).
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601 Bitcoins Used to Settle Borrowings
The decrease in digital assets includes 601 bitcoins applied in settlement of RMB345.4 million (US$50.7 million) secured borrowings; holdings stood at 2,899 bitcoins at June 30, 2026 versus 1,181 at December 31, 2025.
Analysis · DDC · Manufacturing
The headline numbers were already out on September 2, but this amendment supplies the cash flow statement and notes that were missing from the October 23 filing — and they show the balance sheet thinning fast. Cash and equivalents dropped to RMB4.9 million (US$0.7 million) from RMB21.1 million at year-end, while the company repaid RMB5.5 million of bank and related-party debt and raised nothing in financing during the half. The RMB260.6 million (US$38.4 million) net loss is almost entirely a non-cash bitcoin mark-down of RMB232.5 million (US$34.3 million); the food business generated RMB8.1 million (US$1.2 million) of adjusted EBITDA on RMB136.7 million (US$20.2 million) of revenue, up 29%. The real risk is structural: the vast majority of assets sit in 2,899 bitcoins, 601 of which were already handed over to settle RMB345.4 million of secured borrowings, and the company funded its accumulation with equity — 45.6 million Class A shares outstanding versus 23.3 million at year-end.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, DDC was trading at $0.14 on NYSE in the Manufacturing sector, with a market capitalization of approximately $8.5M. The 52-week trading range was $0.12 to $8.00. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.