Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 295

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 295
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 ​ | $ |   48,876 |

Depreciation expense for the years ended September 30, 2024, 2023 and 2022 amounted to $, $ and $, respectively.

NOTE 7 — RELATED PARTIES BALANCES AND TRANSACTIONS

The Company records transactions with related parties. These related party balances as of September 30, 2024 and 2023 and transactions for the years ended September 30, 2024, 2023 and 2022 are identified as follows:

| (1) | Related parties with transactions and related party relationships |

| Name of Related Party                             |   | Relationship to the Company                                                                    |
| Jianbiao Dai                                      | ​ | Chief Executive Officer (“CEO”); Chairman of the Company                                       |
| Shanghai Youfu Network Co., Ltd.                  | ​ | Shareholder of the Company                                                                     |
| Shanghai Yiyun Information Service Co., Ltd       | ​ | Jianbiao Dai served as a supervisor and hold 60% of the shares                                 |
| Shanghai Chuangbo Enterprise Development Co., Ltd | ​ | A director of the Company serving as a corporate supervisory role                              |
| Shanghai Longruan Electronics Group Co., Ltd      | ​ | Jianbiao Dai serves as legal representative and holds 80% of the shares                        |
| Shanghai Longruan Business Consulting Co., Ltd    | ​ | Jianbiao Dai serves as legal representative and holds 80% of the shares directly or indirectly |
| Lang Wide Investment Inc.                         | ​ | A shareholder of the Company                                                                   |

| (2) | Significant Related Party Transactions |

Purchases from related parties for the years ended September 30, 2024, 2023 and 2022 were as follows:

| ​                               
 ​                               | ​ | ​    
 2024 | ​ | ​ | ​    
 2023 | ​ | ​ | ​    
 2022 |       ​ |
|:--------------------------------|:--|:-----|:--|:--|:-----|:--|:--|:-----|--------:|
| Shanghai Youfu Network Co., Ltd | ​ | $    | — | ​ | $    | — | ​ | $    | 137,645 |
| Total                           | ​ | $    | — | ​ | $    | — | ​ | $    | 137,645 |

Borrowing from related parties for the years ended September 30, 2024, 2023 and 202