Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 143

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 143
---
 business in Hong Kong, the Company adopted low margin strategy to achieve more sales and to gain more market shares during the year ended September 30, 2023. Gross profit for subscription services decreased by approximately $1.5 million or 66.5% from approximately $2.2 million for the year ended September 30, 2022 to approximately $0.7 million for the year ended September 30, 2023. Gross profit margin was approximately 26.5% and 37.4% for the years ended September 30, 2023 and 2022, respectively. The decrease of gross profit margin was due to we need to keep competitive price for customers despite cost increase. Operating Expenses

| ​                                   
 ​                                   
 ​                                   
 ​                                   
 OPERATING EXPENSES:                 | ​ 
 ​ 
 ​ 
 ​ | ​                   
 For the years Ended 
 September 30,       
 2023                
 ​                   |         ​ 
         ​ | ​ 
 ​ | ​    
 2022 
 ​    |         ​ 
         ​ | ​ 
 ​ 
 ​ | ​      
 ​      
 ​      
 Change 
 ​      |          ​ 
          ​ 
          ​ 
          ​ | ​ 
 ​ 
 ​ 
 ​ |        ​ 
        ​ 
        ​ 
 % Change 
        ​ | ​ 
 ​ |
|:------------------------------------|:--|:--------------------|----------:|:--|:-----|----------:|:--|:-------|-----------:|:--|---------:|:--|
| Selling expenses                    | ​ | $                   |   606,927 | ​ | $    | 1,298,462 | ​ | $      |   -691,535 |   |    -53.3 | % |
| General and administrative expenses | ​ |                     |   798,233 | ​ |      |   865,690 | ​ |        |    -67,457 |   |     -7.8 | % |
| Research and development expenses   | ​ |                     |   567,809 | ​ |      |   828,311 | ​ |        |   -260,502 |   |    -31.4 | % |
| Total operating expenses            | ​ | $                   | 1,972,969 | ​ | $    | 2,992,463 | ​ | $      | -1,019,494 |   |    -34.1 | % |

Our