Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 228

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 228
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, for $1,900,000. On October 5, 2023, instead of direct capital injection to the Company, Dragonsoft Holding Limited made the payment of HK$15,000,000 ($1,900,000, equivalent to the cash consideration for sale of shares) to an AI development supplier (an independent third party) on behalf of the Company as a deposit for an AI Technical Development Service Agreement entered on October 2, 2023, approved by the Board of Directors. DESCRIPTION OF SHARE CAPITAL We were incorporated as an exempted company with limited liability under the laws of the Cayman Islands on January 4, 2022. Our affairs are governed by our amended and restated memorandum and articles, as amended and restated from time to time, the Cayman Islands Companies Act, and the common law of the Cayman Islands. A Cayman Islands exempted company:

| ● | is a company that conducts its business mainly outside the Cayman Islands; |

| ● | is prohibited from trading in the Cayman Islands with any person, firm or corporation except in furtherance of the business of the exempted company carried on outside the Cayman Islands (and for this purpose can effect and conclude contracts in the Cayman Islands and exercise in the Cayman Islands all of its powers necessary for the carrying on of its business outside the Cayman Islands); |

| ● | does not have to hold an annual general meeting; |

| ● | does not have to make its register of members open to inspection by shareholders of that company; |

| ● | may obtain an undertaking against the imposition of any future taxation; |

| ● | may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands; |

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| ● | may register as a limited duration company; and |

| ● | may register as a segregated portfolio company. |

**Class A Ordinary Share and Class B Ordinary Share Our authorized share capital is US$50,000 divided into 200,000,000 shares comprising of (i) 190,000,000 Class A Ordinary Shares of par value US$0.00025 each and (ii) 10,000,000 Class B Ordinary Shares of par value US$0.00025 each. As of the date of this prospectus, 18,487,030 Class A Ordinary Shares and 2,000,000 Class B Ordinary Shares are issued and outstanding. Each Class B Ordinary Share is convertible into one (1) Class A Ordinary