公司创纪录营业收入、调整后 EBITDA 首次转正；比特币持仓跻身全球前三十
•核心消费食品业务持续改善，经营效率与利润率同步提升
•在正式推出比特币储备战略后，截至 2026 年 4 月 21 日，公司持有 2,383 枚比特币
领先的亚洲食品平台及数字资产储备企业DDC Enterprise Limited（NYSEAMERICAN: DDC；以下简称" DDC "或"公司"）今日发布截至 2025 年 12 月 31 日止十二个月的未经审计财务业绩。公司本期业绩既体现了核心消费食品业务的持续改善，也反映了比特币储备战略的初步成果。
2025 财年财务摘要
本次交易完成后，DDC 在全球上市公司比特币持仓排名中位列第 32 位，体现了公司将比特币作为核心储备资产的战略选择。DDC 认为，比特币具备长期价值储存属性，可与其消费食品业务的持续扩张形成互补，并支持整体资本配置战略。
管理层观点
DDC 创始人、董事长兼首席执行官朱嘉盈女士表示：" 2025 年是 DDC 稳步向前的关键一年。公司实现创纪录的营业收入，调整后 EBITDA 首次转正，充分体现了核心消费食品业务在经营效率与利润率结构方面的持续改善。这一进步，得益于我们线下分销渠道的拓展以及下沉市场的深度渗透。
"与此同时，我们主动决策投入资源构建比特币储备战略，目前已跻身全球上市公司比特币持有者前三十强，按当前市价计算持仓市值约为 1.75 亿美元。尽管相关投入对下半年报告盈利能力产生了影响，但这正反映了我们构建自律资本配置框架、以期在长期内创造价值的坚定决心。"
朱女士进一步表示："迈入 2026 年，我们将继续聚焦核心业务增长，保持严格的成本纪律，并以稳健、具战略性的方式稳步推进比特币战略。我们亦在持续投入支撑储备管理的 AI 基础设施，旨在提升决策的一致性、透明度以及长期资本配置水平。"
2025 财年财务总览
除另行说明外，以下数据均与 2024 财年同期数据进行比较。
•营业收入总额：3,920 万美元，同比增长 4.6%，反映了公司战略性退出亏损的美国业务。在核心市场中国，营业收入同比增长 9.8%，主要得益于线下分销渠道的拓展（包括下沉市场渗透率的提升以及区域经销商合作关系的巩固），并最终带动销量提升。
•毛利：1,230 万美元，同比增长 15.8%，主要得益于供应链优化、采购效率提升以及原材料成本的有利变动。
•经营开支：4,760 万美元，同比增长 61.5%，主要由非现金股权激励及与公司比特币储备战略相关的投入驱动，包括资本市场活动、顾问服务以及基础设施建设。
•调整后 EBITDA 首次转正：40 万美元，而上年同期为调整后经营亏损（LBITDA）350 万美元——这也是公司首次在全年报告期内实现调整后 EBITDA 转正。
•现金、现金等价物及短期投资：截至 2025 年 12 月 31 日，合计 2,170 万美元。
•股东权益：7,890 万美元，同比增长约 600%，主要得益于公司比特币储备战略的稳步推进。
2025 年下半年财务总览
除另行说明外，以下数据均与 2024 年下半年同期数据进行比较。
•营业收入总额：2,360 万美元，同比增长 16.6%，反映了公司战略性退出亏损的美国业务。
•毛利：710 万美元，同比增长 15.1%，得益于供应链持续优化、采购效率提升以及原材料成本的有利变动。
•经营开支：4,440 万美元，同比增长 107.6%，主要由股权激励及与公司比特币储备战略相关的投入驱动。
2025 财年比特币业务总览
•" BTC 收益率"关键结果指标：2025 年下半年 BTC 收益率达到 122%；自首次购入以来累计 BTC 收益率达 1,493% ¹（截至 2026 年 4 月 21 日）。
•数字资产持仓：截至 2025 年 12 月 31 日，公司持有约 1,181 枚比特币；截至 2026 年 4 月 21 日，持仓已增至 2,383 枚比特币。在截至 2025 年 12 月 31 日止十二个月内，公司录得数字资产公允价值变动的未实现损失 550 万美元。
2025 财年资本市场总览
•为比特币储备战略完成累计 5.28 亿美元的战略性融资，具体包括：
•来自顶级比特币及数字资产投资人的 2,600 万美元战略性 PIPE 投资（含将存续债务转换为股权以进一步强化资产负债表）；
•与 Anson Funds 完成首批 2,500 万美元可转换票据的发行（后续最高可追加提取 2.75 亿美元的承诺额度）；
•获得 Anson Funds 额外 200 万美元的定向增发投资，并获得其 2 亿美元股权信贷额度（ELOC）；
•向美国证券交易委员会（SEC）提交 5 亿美元的 F-3 表格通用架上注册声明；
•以每股 10.00 美元的价格完成 1.24 亿美元的 A 类普通股股权融资，其中创始人兼首席执行官朱嘉盈女士个人投资 300 万美元。
•截至 2026 年 4 月 21 日，DDC 在 5.28 亿美元战略性融资额度中累计动用 5,300 万美元用于比特币购入；与 Anson Funds 签署的 2.75 亿美元可转换票据及 2 亿美元股权信贷额度（ELOC）均未动用；5 亿美元通用架上注册额度亦尚未使用。
DDC Treasury Intelligence Platform
（DDC 储备智能平台）
DDC 正式推出 DDC Treasury Intelligence Platform（DDC 储备智能平台）——一套专为管理公司比特币储备而打造的 AI 操作系统，旨在以更高水平的纪律性、透明度与长期股东价值导向执行储备决策。
公司认为，其位列全球首批为企业比特币储备管理配置专用基础设施的上市公司之列。平台的核心是DDC Treasury Graph（DDC 储备图谱）——一套受治理框架管控的知识体系，将比特币持仓、市场数据、历史决策与执行结果整合为一套持续学习的系统。
平台的定位是辅助而非替代管理层的决策判断：通过将储备决策的评估过程结构化，在清晰界定的治理参数下，提升决策质量、风险管理水平与透明度。
DDC 预期，随着时间推移，该能力将提升公司资本配置效率，在各类市场周期中实现更优的风险调整后回报；同时也将为公司更广泛的 AI 决策系统乃至未来的对外商业化应用奠定基础。
业绩电话会议
DDC 已于美东时间 2026 年 4 月 21 日上午 8：30 召开 2025 财年业绩电话会议。详情请访问：https://edge.media-server.com/mmc/p/cwsa87jd/
关于 DDC Enterprise Limited
DDC Enterprise Limited（NYSEAMERICAN: DDC）正积极参与企业比特币储备的发展浪潮，同时坚守全球领先亚洲食品平台的核心定位。公司已将比特币战略性地确立为核心储备资产，并持续拓展旗下餐饮品牌矩阵。在将比特币纳入财务架构的上市公司中，DDC 始终身处前列。更多信息，请访问 www.ddc.xyz
DDC Enterprise Reports Record Revenue and Positive Adjusted EBITDA for Fiscal Year 2025
- Core consumer food business demonstrated continued operating improvement and margin expansion
- Launched Bitcoin treasury strategy and reached 2,383 BTC as of April 21, 2026
New York, April 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.
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 $175 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 global of improving consistency, transparency, and long-term capital allocation. "
Fiscal Year 2025 Financial Summary
All amounts compared to fiscal year 2024 unless otherwise noted
·Total revenue of US$39.2 million was up 4.6% year-over-year, reflecting the strategic exit from loss-making U.S. operations. In China, our core market, revenue grew 9.8% year-over-year, driven by expansion in offline distribution channels, including increased penetration into lower-tier cities and stronger regional distributor partnerships, resulting in higher sales volume.
·Gross profit of US$12.3 million was up 15.8% year-over-year, driven by supply chain optimization, improved procurement efficiency, and favorable raw material costs.
·Operating expenses of US$47.6 million was up 61.5% year-over-year primarily driven by non-cash share-based compensation and investments related to the Company ’ s Bitcoin treasury strategy, including capital markets activity, advisory, and infrastructure buildout.
·Positive Adjusted EBITDA of US$0.4 compared to an adjusted LBITDA of $3.5 million marks the first positive adjusted EBITDA reporting full year period for the Company.
·Cash and cash equivalents and short-term investments were US$21.7 million as of December 31, 2025.
·Shareholder's equity of US$78.9 million was up 600% due to the execution of the Company's bitcoin treasury build out.
H2 2025 Financial Summary
All amounts compared to H2 2024 unless otherwise noted
·Total revenue of US$23.6 million was up 16.6% year-over-year, reflecting the strategic exit from loss-making U.S. operations.
·Gross profit of US$7.1 million was up 15.1% year-over-year, supported by continued supply chain optimization, improved procurement efficiency, and favorable raw material costs.
·Operating expenses of US$44.4 million was up 107.6% year-over-year, primarily driven by share-based compensation and investments related to the Company ’ s Bitcoin treasury strategy.
Fiscal Year 2025 Bitcoin Summary
·" BTC Yield " KPI: Achieved BTC Yield of 122% in H2 and 1,493% since first purchase1 ( as of April 21, 2026 ) .
· Digital Assets: As of December 31, 2025, the Company held approximately 1,181 BTC. As of April 21, 2026, holdings increased to 2,383 BTC. During the twelve months ended December 31, 2025, the Company recorded an unrealized loss in the fair value of digital assets of $5.5 million.
Fiscal Year 2025 Capital Markets Summary
· Closed an aggregate of $528 million in strategic financing for Bitcoin treasury strategy:
o$26 million strategic PIPE investment from premier Bitcoin and digital asset investors, which included conversion of outstanding debt to further strengthen the balance sheet.
o$25 million by issuance of first tranche of convertible notes ( with committed additional capacity of up to $275 million available in subsequent drawdowns ) with Anson Funds.
o$2 million in a private placement from Anson Funds in addition to a $200 million equity line of credit.
· Filed a $500 million universal shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission ( SEC ) .
· Secured a $124 million equity financing round at $10.00 per Class A share, with $3 million personal investment from Founder and CEO Norma Chu.
· As of April 21, 2026, DDC has utilized a total $53 million of its $528 million strategic financing for its Bitcoin purchases. $275 million of convertible note and $200 million equity line of credit with Anson Funds remains undrawn. In addition, DDC has not utilized any of the $500 million universal shelf.
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 hosted its Fiscal Year 2025 earnings conference call at 8:30 am ET on April 21, 2026. View it here：https://edge.media-server.com/mmc/p/cwsa87jd/
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, visitwww.ddc.xyz.
睿迎网提示：文章来自网络，不代表本站观点。
