Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 28

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 28
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 the holding company were required to obtain approval or filing requirements in the future and were denied permission from Chinese authorities to list on U.S. exchanges, we will not be able to continue listing on U.S. exchange, which would materially affect the interest of the investors” on page 14 of the 2024 Annual Report.

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Hong Kong Regulatory Licenses, Permissions and Approvals

Business registration

Under the Business Registration Ordinance (Chapter 310
of the Laws of Hong Kong), to conduct business activities in Hong Kong, every person carrying on any business in Hong Kong must make an
application to the Commissioner of Inland Revenue for the registration of that business with the Business Registration Office of the Inland
Revenue Department in Hong Kong and pay the prescribed business registration fee and levy within one month of commencement of such
business. Any person who fails to comply with the business registration requirement commits an offence and is liable to a maximum fine
of HK$5,000 and one year of imprisonment. In addition, a person carrying on business in Hong Kong in respect of which: (i) that
person is not in possession of a valid business registration certificate and for which the prescribed business registration fee and the
levy have not been paid; or (ii) a valid business registration certificate is due to expire and the Commissioner of Inland Revenue
has not received any notification of cessation of business in prescribed form, that person shall make payment of the prescribed business
registration fee and levy specified in the notice issued by the Commissioner of Inland Revenue to that person (or, where no such notice
is received on the expiry of the business registration certificate, that person shall notify the Commissioner of Inland Revenue of the
same within one month of the expiry of the business registration certificate). Any person who fails to make payment of the business
registration fee and levy as specified in the notice issued by the Commissioner of Inland Revenue as foresaid commits an offence and is
liable to a penalty in the sum of HK$300 (or HK$213 where that person has made an election for the expiry date to be endorsed the business
registration certificate in respect of the business to be the date of the expiration of 3 years from the date of commencement endorsed
the certificate) and, additionally, a maximum fine of HK$5,000 and one year of imprisonment. As of the date of this prospectus, each
of the Hong Kong Subsidiaries has obtained a valid, unexpired business registration certificate and has paid all