Company: NCL
Filing Date: 2025-11-18
Form Type: 424B3
Source: 0001575872-25-000699
Chunk: 33

Company: Northann Corp.
Filing Date: 2025-11-18
Form: 424B3
Chunk 33
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 - |     |            |     - | % |     |        |     563 |     |            |   0.3 | % |     |             |      (563 | ) |     |            | -100.0 | % |
| Total selling expenses        |     | $                                | 6,362,313 |     |            | 100.0 | % |     | $      | 159,368 |     |            | 100.0 | % |     | $           | 6,202,945 |   |     |            | 3892.2 | % |

General and administrative expenses.
As shown below, our general 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 $86,649 to $662,331 for the three months ended September 30, 2025, from $575,678 for the same period in 2024. The
increase was mainly caused by an increase in share-based compensation to directors of $415,183, and other items with minor changes, partly
offset by a decrease in service fees of $320,496.

|                                           |     | Three Months Ended September 30, 
 2025                             
 Amount                           |         |     | Proportion |       |   |     | 2024   
 Amount |         |     | Proportion |       |   |     | Fluctuation 
 Amount      |          |   |     | Proportion |       |   |
|:------------------------------------------|:----|:---------------------------------|--------:|:----|:-----------|------:|:--|:----|:-------|--------:|:----|:-----------|------:|:--|:----|:------------|---------:|:--|:----|:-----------|------:|:--|
| Salary and Social Insurance               |     | $                                |  38,074 |     |            |   5.7 | % |     | $      |   8,202 |     |            |   1.4 | % |     | $           |   29,872 |   |     |            | 364.2 | % |
| Share-Based Compensation-D&O              |     |                                  | 415,183 |     |            |  62.7 | % |     |