Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 273

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 273
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 | $    |           578 | ​ | $    |         1,621 |
| Cash paid for interest                                                       | ​ | $    |             — | ​ | $    |         5,781 | ​ | $    |         9,683 |
| Non cash investing activities:                                               | ​ |      |               | ​ |      |               | ​ |      |               |
| Right-of-use assets obtained in exchange for operating new lease liabilities | ​ | $    |             — | ​ | $    |        94,687 | ​ | $    |             — |
| Settlement of receivable from sales of shares in payment to a supplier       | ​ | $    |     1,900,000 | ​ | $    |             — | ​ | $    |             — |

The accompanying notes are an integral part of these consolidated financial statements.

F-7

NOTE 1 — ORGANIZATION AND BUSINESS DESCRIPTION

NETCLASS TECHNOLOGY INC (“NetClass” or “the Company”) is a holding company incorporated under the laws of Cayman Islands on January 4, 2022. NetClass, through its wholly-owned subsidiaries (collectively, “the Group”) is engaged in offering online professional education platform and related courseware, providing smart education IT solutions service in the People’s Republic of China (“China” or “PRC”). The Company has no substantive operations other than holding 100% ownership interest of DRAGONSOFT GROUP CO., LIMITED (“NetClass HK”) established under the laws of Hong Kong on December 12, 2006.

As of September 30, 2024, the Company’s subsidiaries and consolidated affiliated entities are as follows:

| Subsidiaries                                                             
 DRAGONSOFT GROUP CO., LIMITED (“NetClass HK”)                            
 Shanghai Zhima Information Technology Co., Ltd. (“WFOE”)                 | ​ 
 ​ | Date of           
 Incorporation     
 December 12, 2006 
 April 30, 2019    | ​ 
 ​ | Jurisdiction of 
 Formation       
 Hong Kong, PRC  
 PRC             | ​ 
 ​ | Percentage of   
 direct/indirect 
 Economic        
 Ownership       
 100%            
 100%            | ​ 
 ​ | Principal                                                            
 Activities                                                           
 Investment Holding/ Subscription and Application development service 
 Investment Holding                                                   |
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| Shanghai