Company: NTCL
Filing Date: 2025-02-18
Form Type: 20-F
Source: 0001410578-25-000153
Chunk: 18

Company: NetClass Technology Inc
Filing Date: 2025-02-18
Form: 20-F
Item: Item 4
Chunk 18
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 Dividends and Paying Agents

Not Applicable.

10. G. Statement by Experts

Not Applicable.

10. H. Documents on Display

The Company is subject to the informational requirements of the Securities Exchange Act of 1934, as amended, and will file reports, registration statements and other information with the SEC. The Company’s reports, registration statements and other information can be found on the SEC’s website at www. sec. gov. You may also visit us on website at www. netclass. cn. However, information contained on our website does not constitute a part of this annual report.

10. I. Subsidiary Information

Not Applicable.

10. J. Annual Report to Security Holders

Not Applicable.

Table of Contents

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Foreign Exchange Risk

Our functional currency of PRC subsidiaries is RMB, and our financial statements are presented in U. S. dollars. The average exchange rate for U. S. dollars against RMB changed from US$1.00 for RMB6.5532 in the year ended September 30, 2022, to US$1.00 for RMB7.0533 in the year ended September 30, 2023, and US$1.00 for RMB7.2043 in the year ended September 30, 2024. The change in the value of RMB relative to the U. S. dollar may affect our financial results reported in the U. S. dollar terms without giving effect to any underlying change in our business or results of operation.

Currently, our assets, liabilities, revenues, and costs are denominated in RMB, our exposure to foreign exchange risk will primarily relate to those financial assets denominated in U. S. dollars. Any significant revaluation of RMB against U. S. dollar may materially affect our earnings and financial position, and the value of, and any dividends payable on, NetClass’ Class A ordinary shares in U. S. dollars in the future.

Credit Risk

As of September 30, 2024, 2023 and 2022, we had cash and cash equivalents and restricted cash of $410,716, $524,601, and $301,705, respectively. Our cash was deposited at financial institutions in the PRC where there currently is no rule or regulation requiring such financial institutions to maintain insurance to cover bank deposits in the