Company: NCL
Filing Date: 2025-10-24
Form Type: S-1/A
Source: 0001575872-25-000638
Chunk: 23

Company: Northann Corp.
Filing Date: 2025-10-24
Form: S-1/A
Chunk 23
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 such indemnification could increase our operating costs. (See page 26 of this prospectus.) |

| · | We cannot predict the impact our multi-class structure may have on the stock price of our common stock. (See page 26 of this prospectus.) |

| · | We are an “emerging growth company,” as defined in the Securities Act, and a “smaller reporting company,” as defined in the Exchange Act, and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies and smaller reporting companies will make our common stock less attractive to investors. (See page 27 of this prospectus.) |

Permissions and Approvals As of the date of this prospectus, our PRC subsidiaries have received from PRC authorities all requisite licenses, permissions or approvals needed to engage in the businesses currently conducted in China, and no permission or approval has been denied. Our PRC subsidiaries are not operating in an industry that prohibits or limits foreign investment. In addition, as advised by our PRC counsel, Grandall Law Firm, other than those permissions or approvals required for a domestic company in China to engage in the businesses similar to ours, we are not required to obtain any permissions or approvals from Chinese authorities, including the China Securities Regulatory Commission (CSRC), Cyberspace Administration of China (CAC) or any other governmental agency that is required to operate the business of the PRC subsidiaries and to offer the securities of the Company to any non-U.S. investors. Such requisite licenses, permissions and approvals include a business license, registration receipt of stationary pollution source discharge, registration of foreign trade operator, and a customs declaration corporate registration certificate.

| 6 |

The following table provides details on the licenses and permissions held by our PRC subsidiaries.

| Company        
 Crazy Industry 
 Marco          |     | License/Permission/Approval                                    
 Business License                                               
 Business License                                               |     | Issuing Authority                                                     
 Changzhou Municipal Administration for Market Regulation              
 Changzhou Municipal Administration for Market Regulation              |     | Validity                 
 Long term                
 Until April 22, 2034     |
|:---------------|:----|:---------------------------------------------------------------|:----|:----------------------------------------------------------------------|:----|:-------------------------|
| Marco          |     | Registration of Foreign Trade Operator                         |     | Changzhou Bureau of Commerce                                          |     | Long term                |
| Marco          |     | Customs Declaration Corporate Registration Certificate         |     | Changzhou Customs                                                     |     | Long term                |
| Ringold        |     | Business License                                               |     |