Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 3

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 3
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 reported sale price of our Class A Ordinary Shares on the Nasdaq Capital Market was $1.60 per share, and on September 24, 2025, we had 18,487,030 Class A Ordinary Shares including 1,069,500 Issued Shares and 2,000,000 Class B Ordinary Shares issued and outstanding. Investors in our Class A Ordinary Shares should be aware that they will not and may never directly hold equity interests in any of the PRC , Hong Kong and Singapore operating entities, but rather purchasing equity solely in NetClass, our Cayman Islands holding company. Unless otherwise stated, as used in this prospectus, the terms “NetClass,” “we,” “us,” “our Company,” and the “Company” refer to NETCLASS TECHNOLOGY INC, an exempted company with limited liability incorporated under the laws of Cayman Islands.

NETCLASS TECHNOLOGY INC or NetClass, is a holding company incorporated in the Cayman Islands. As a holding company with no material operations, NetClass conducts a substantial majority of its operations through its subsidiaries established in the PRC, Hong Kong and Singapore. Investors in our Class A Ordinary Shares should be aware that they will not and may never directly hold equity interests in any of the PRC, Hong Kong or Singapore operating entities, but rather purchasing equity solely in NetClass, our Cayman Islands holding company. Furthermore, shareholders may face difficulties enforcing their legal rights under United States securities laws against our directors and officers who are located outside of the United States.

Because we have subsidiaries in the PRC which have operations located in the PRC, we are subject to certain legal and operational risks associated with our operations in the PRC, including changes in the legal, political and economic policies of the PRC government, the relations between the PRC and the United States, or Chinese or United States regulations may materially and adversely affect our business, financial condition and results of operations. PRC laws and regulations governing our current business operations are sometimes vague and uncertain, and therefore, these risks may result in a material change in our operations and the value of our Class A Ordinary Shares, or could significantly limit or completely hinder our ability to offer or continue to offer our securities to investors and cause the value of such securities to significantly decline or be worthless. Recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations in the PRC with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over the PRC-based companies listed