DDC DDC Enterprise Limited

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2024

 

Commission File Number: 001-41872

 

DDC Enterprise Limited

 

Room 1601-1602, 16/F, Hollywood Centre
233 Hollywood Road

Sheung Wan, Hong Kong
+ 852-2803-0688

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒    Form 40-F ☐

 

 

 

Information Contained in this Form 6-K Report

 

When used in this Form 6-K, unless otherwise indicated, the term “Company,” refers to DDC Enterprise Limited.

 

On June 17, 2024, Malik Sadiq was appointed as the Company’s Chief Operating Officer pursuant to an employment agreement which provides an annual base salary of $240,000, payable in a combination of cash and restricted stock of the Company which may vest during the period which Mr. Sadiq remains employed by the Company. Mr. Sadiq may also be awarded an annual bonus based on achievement of goals to be determined by the Compensation Committee of the Board of Directors of the Company. The employment agreement reflects that Mr. Sadiq’s employment with the Company is initially part-time. The employment agreement is in substantially the form of employment agreement with other executive officers of the Company, which was attached as Exhibit 10.1 to the Company’s Form F-1 filed with the Securities Exchange Commission on November 16, 2023, and which is incorporated into this Form 6-K by reference, except that Mr. Sadiq’s severance benefit is reduced to one month of base salary and he is not subject to a post-termination non-compete.

 

Mr. Sadiq, aged 57, has been our advisory board member since September, 2021. He has more than 25 years of experience in the food and strategy consulting industry in China, India, and the US. He is currently the consulting business owner of Great Doorway Consulting, which advises companies in the food industry. From June 2021 to March 2023, he was the Co-CEO and COO of LiveKindly Collective, a high-growth food company. Prior to this he was SVP of the International and Export divisions of Tyson Foods, a global food company, growing revenue to $2B over his tenure. Mr. Sadiq received his Doctorate and Master’s Degree in industrial engineering and a Bachelor’s Degree in electrical engineering from the University of Arkansas, Fayetteville.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	DDC Enterprise Limited.
Date: June 20, 2024	By:	/s/ Norma Ka Yin Chu
	Name:	Norma Ka Yin Chu
	Title:	Chief Executive Officer

 

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press Release Dated June 18, 2024

 

 

3

 

Exhibit 99.1

 

DayDayCook Names Food and Beverage Industry Stalwart Malik Sadiq as Chief Operating Officer

 

Addition of proven executive in building global food brands positions DDC for rapid growth and expansion

 

NEW YORK--(BUSINESS WIRE)-- DDC Enterprise, Ltd., (NYSEAM: DDC) (“DayDayCook,” “DDC,” or the “Company”), a leading content-driven food consumer brand, today announced that Malik Sadiq has been appointed Chief Operating Officer, effective immediately. Mr. Sadiq will spearhead the integration and growth of DayDayCook’s brands globally, including the recent additions of Noma Lin, Yai’s Thai and Omsom.

 

“Malik joins the DayDayCook leadership team at an important and exciting time as we recently completed our third Asian foods acquisition in the U.S.,” said Norma Chu, DayDayCook’s Founder and CEO. “Malik brings unique experience of driving growth and operational efficiency -- both organically and through M&A – and will help the Company efficiently execute on our business plan. We look forward to the impactful contributions he will undoubtedly make to our team as DayDayCook continues its journey to become an Asian food powerhouse.”

 

Mr. Sadiq has more than 25 years of global food and beverage experience with more than 15 years at Tyson Foods. Most recently he was the Co-CEO and COO of LiveKindly Collective, a high-growth food company operating in 40 countries. Prior to this he was SVP of the International and Export divisions of Tyson Foods, growing revenue to $2B over his tenure. Mr. Sadiq received his Doctorate and Master’s in industrial engineering and a Bachelor’s in electrical engineering from the University of Arkansas, Fayetteville.

 

“I am very excited to join DDC and contribute to its strategy of acquiring authentic Asian brands and scaling for growth,” said Malik Sadiq. “DDC is uniquely positioned to drive this strategy because of its Asian origin and heritage. I am excited to bring my years of operating and M&A experience to drive DDCs strategy.”

 

About DayDayCook – A Leader in Food Innovation

 

Founded in 2012, DayDayCook is a leading content-driven consumer brand offering easy and convenient ready-to-heat, ready-to-cook and ready-to-eat Asian food products. The company focuses on innovative and healthy meal solutions with a fast-growing omnichannel sales network in China and the U.S., and through a strong online presence globally. The Company builds brand recognition through culinary and lifestyle content across major social media and e-commerce platforms.

 

Forward-Looking Statements

 

Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. 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, except as may be required by law. 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 registration statement and other filings with the SEC.

 

Investors:
Head of Investor Relations
Kyle Gusé
kyle.guse@daydaycook.com

 

CORE IR
Matt Blazei
mattb@coreir.com

 

Media:
DDC Enterprise Ltd.
Chris Cheung
chris.cheung@daydaycook.com

 

 

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