Company: NCL
Filing Date: 2025-11-18
Form Type: 424B3
Source: 0001575872-25-000699
Chunk: 36

Company: Northann Corp.
Filing Date: 2025-11-18
Form: 424B3
Chunk 36
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 |             |    79,033 |   |     |            |   51.4 | % |
| Travel fee                    |     |                                 |    72,390 |     |            |   0.9 | % |     |        |  73,180 |     |            |  13.0 | % |     |             |      (790 | ) |     |            |   -1.1 | % |
| Others                        |     |                                 |         - |     |            |     - | % |     |        |     563 |     |            |     - | % |     |             |      (563 | ) |     |            | -100.0 | % |
| Total selling expenses        |     | $                               | 7,901,900 |     |            | 100.0 | % |     | $      | 564,805 |     |            | 100.0 | % |     | $           | 7,337,095 |   |     |            | 1299.0 | % |

| 4 |

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 $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                            
 Amount                          |           |     | Proportion |        |   |     | 2024   
 Amount |           |     | Proportion |        |   |     | Fluctuation 
 Amount      |            |   |     | Proportion |       |   |
|:------------------------------------------|:----|:--------------------------------|----------:|:----|:-----------|-------:|:--|:----|:-------|----------:|:----|:-----------|-------:|:--|:----