Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 43

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1F
Chunk 43
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NORTHANN CORP.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In U.S. dollars)

        June 30,  December 31,         2025  2024   (Unaudited)    ASSETS        Current Assets        Cash and cash equivalents $1,062,038  $245,164 Accounts receivable, net  2,755,263   3,106,561 Inventory  3,519,140   1,995,611 Prepaid expense  738,442   490,948 Other receivables and other current assets  67,020   74,984 Total Current Assets  8,141,903   5,913,268 Property, plant and equipment, net   3,659,631   3,894,434 Construction in progress  2,059,807   1,258,701 Intangible assets, net   983,961   977,986 Operating lease right-of-use assets, net  1,648,594   1,822,266 Security deposits  9,030   9,030                   TOTAL ASSETS $16,502,926  $13,875,685                   LIABILITIES AND STOCKHOLDERS' EQUITY        Current Liabilities        Bank borrowings, current $1,996,203  $4,699,081 Operating lease liabilities, current  370,800   355,754 Accounts and other payables and accruals  4,006,142   2,600,469 Unearned revenue  764,523   - Tax payable  (13,034)  601,317 Due to related party  863,083   1,416,432 Total Current Liabilities  7,987,717   9,673,053          Bank borrowings, non-current  2,857,677   136,947 Operating lease liabilities, non-current  1,277,794   1,466,512          TOTAL LIABILITIES  12,123,188   11,276,512          Commitments and contingencies  -   -                   Stockholders' Equity        Preferred