On May 16, DDC Enterprise Ltd., a consumer brand and e-commerce company headquartered in China and the United States, announced plans to use Bit as a strategic reserve asset, with the goal of accumulating 5,000 Bits within the next 36 months. DDC's Founder, Chairman, and CEO Norma Chu revealed this information in today's shareholder letter, making DDC one of the first companies in the industry to include Bit as part of its core financial strategy.
The initial strategy aims to immediately purchase 100 Bits, with a short-term goal of acquiring 500 Bits within six months, and an ultimate goal of reaching 5,000 Bits within 36 months. DDC will implement this plan under the guidance of a newly expanded cryptocurrency expert advisory committee and fund management team to ensure optimal execution.
It is reported that DDC's fiscal year 2024 performance reached a historic high. The company reported revenues of $37.4 million for fiscal year 2024, a 33% year-on-year increase. Benefiting from strategic acquisitions in the United States and efficient operations in China, the gross margin improved from 25.0% in 2023 to 28.4%. Shareholders' equity grew by 33%, reaching $11.3 million, with cash, cash equivalents, and short-term investments estimated at $23.6 million as of March 31, 2025. (bitcoinmagazine)
