Company: NCL
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001575872-25-000688
Chunk: 11

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 424B3
Chunk 11
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 to the recently published Wohlers Report 2024, additive manufacturing of metal components recorded growth of 24.4% in 2023. 2An estimated 3,793 metal systems were shipped in total, compared to 3,049 units in 2022. 3 Innovation has always been our core value. Our commitment to new approaches in designing and manufacturing drives us to create new ways to improve how our core customers live and work. Crazy Industry invests substantial resources in research and product development and is committed to rapidly building new products and customizable and functional solutions to delight our customers. Crazy Industry’s product development team is committed to product design and development, and they focus their efforts on enhancing function, use, performance and flexibility of our products. As of the date of this prospectus, our subsidiaries, NBS, NCP and Crazy Industry, own a portfolio of over 60 granted or pending patents. The products reflect the evolving needs of our core customer’s home and business needs. We strive to make the products customizable, functional and affordable. Presently, NCP manufactures four proprietary solutions in vinyl flooring using innovative 3D printing technology: Infinite Glass, DSE, TruBevel and MattMaster. Each solution offers distinct functionalities and aesthetic finishes. Our revenue mainly consists of wholesale and retail of the vinyl flooring products, which are primarily marketed and sold in the United States and Canada. During the six months ended June 30, 2025, and the fiscal years ended December 31, 2024, and 2023, 87.6%, 86.0 % and 86.2% of our revenue came from vinyl flooring products and other decorative panels. NBS has also licensed some of its patents to other manufacturers with the goal to promote the technologies covered by those patents in the flooring industry. We believe that a wider market acceptance of 3D printed flooring will help establish the “Benchwick” brand further and to penetrate the markets and encourages innovation and changes to an already developed and static industry. During the six months ended June 30, 2025, and the fiscal years ended December 31, 2024, and 2023, none of our revenue came from patent licensing. We serve customers in North America (mainly the United States and Canada), Europe and other regions. During the six months ended June 30, 2025, 99.6% of our revenue came from customers in the United States and nil% came from customers in Canada. During