Company: NCL
Filing Date: 2025-10-24
Form Type: S-1/A
Source: 0001575872-25-000638
Chunk: 42

Company: Northann Corp.
Filing Date: 2025-10-24
Form: S-1/A
Chunk 42
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 could significantly limit or completely hinder our ability to offer or continue
to offer securities to investors and could cause the value of such securities to significantly decline or be worthless.

| 17 |

If the Chinese government chooses to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers, such action could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless.

We face risks arising from China including risks and
uncertainties regarding the enforcement of laws and that rules and regulations in China can change quickly with little advance notice.
The Chinese government may intervene or influence the operations of our subsidiaries in PRC and Hong Kong at any time, or may exert more
control over offerings conducted overseas and/or foreign investment in China-based issuers, which could result in a material change in
the operations of our subsidiaries in PRC and Hong Kong and/or the value of our common stock.

The Chinese government has exercised and continues
to exercise substantial control over virtually every sector of the Chinese economy through regulation and state ownership. Our ability
to operate in China through our subsidiaries in PRC and Hong Kong may be harmed by changes in laws and regulations in China, including
those relating to securities regulation, data protection, cybersecurity and mergers and acquisitions and other matters. The PRC central
or local governments may impose new, stricter regulations or interpretations of existing regulations that would require additional expenditures
and efforts on our part to ensure our and our subsidiaries’ compliance with such regulations or interpretations.

Government actions in the future could significantly
affect economic conditions in China or particular regions thereof, and could require our subsidiaries in PRC and Hong Kong to materially
change their operating activities or divest ourselves of any interests we hold in Chinese assets. Our subsidiaries in PRC and Hong Kong
may be subject to various government and regulatory interference. We may incur increased costs necessary to comply with existing and newly
adopted laws and regulations or penalties for any failure to comply. Such subsidiaries’ operations could be adversely affected,
directly or indirectly, by changes to existing laws or implementation of future laws and regulations relating to their business or industry.

As of the date of this prospectus, we and our subsidiaries
in the Mainland China and Hong Kong (1) are not required to obtain permissions from any PRC authorities to operate or issue our common
stock to foreign investors, (2) are not subject to permission requirements from the CSRC, CAC