Company: NCL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001575872-25-000691
Chunk: 82

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1F
Chunk 82
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 and administrative expenses consist primarily of compensation and benefits to our general management, finance and administrative staff, professional fees and other expenses incurred in connection with general operations. Our general and administrative expenses increased by $127,965 to $2,649,905 for the nine months ended September 30, 2025, from $2,521,940 for the same period in 2024. The increase was mainly caused by an increase in service fees of $573,715, an increase in share-based compensation to directors of $415,183, an increase in office expenses of $147,664, and other items with minor changes, partly offset by a decrease in salary and social insurance of $1,091,680.

  Nine Months Ended September 30,   2025  2024  Fluctuation   Amount  Proportion  Amount  Proportion  Amount  Proportion Salary and social insurance $ 157,529   5.9% $ 1,249,209   49.5% $ (1,091,680)  -87.4%Share-Based Compensation-D&O  415,183   15.7%  -   -  415,183   -Service fees  1,355,168   51.1%  781,453   31.0%  573,715   73.4%Royalty fee  19,748   0.8%  18,138   0.7%  1,610   8.9%Entertainment expenses  39,733   1.5%  44,231   1.8%  (4,498)  -10.2%Taxation  42,916   1.6%  41,387   1.6%  1,529   3.7%Depreciation and amortization  65,063   2.5%  72,189   2.9%  (7,126)  -9.9%Rent  30,375   1.1%  27,033   1.1%  3,342   12.4%Travel fee  30,997   1.2%  35,900   1.