Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 104

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 liabilities $1,648,594  $1,822,266  Cash flow information related to operating leases consists of the following:   For the six monthsended June 30, 2025     For the six monthsEnded June30, 2024  Cash paid for amounts included in the measurement of operating lease liabilities $217,428  $17,534 Right-of-use assets obtained in exchange for new lease obligations:  -   -   F-16

 The operating lease expenses for the six months ended June 30, 2025 and 2024 were as follows: Lease Cost Classification  For the sixmonthsendedJune 30,2025        For the sixmonthsendedJune 30,2024    Operating lease expense General and administrative expenses  $217,428  $17,534    Maturities of operating lease liabilities as of June 30, 2025 were as follows: Maturity of Lease Liabilities OperatingLeases  Within one year   221,426 Within a period of more than one year but not more than two years  $439,278 Within a period of more than two year but not more than three years   428,376 Within a period of more than three year but not more than four years  441,227 Within a period of more than four years but not more than five years  299,976 More than five years  - Total lease commitment $1,830,283 Less: interest  (181,689)Present value of lease payments $1,648,594  Lease liabilities include lease and non-lease component such as management fee. 

Lease Term and Discount Rate June 30,2025    December 31,2024  Weighted-average remaining lease term (years)          Operating leases  4.50     4.57            Weighted-average discount rate (%)          Operating leases  5%  5%  

14. CONCENTRATIONS AND CREDIT RISK (a)         Concentrations During the six months ended June 30, 2025, two customers accounted for nearly 86% of the Company’s revenues. During the six months ended June 30, 2024, two customers accounted for nearly 73