Company: NCL
Filing Date: 2025-11-18
Form Type: 424B3
Source: 0001575872-25-000699
Chunk: 3

Company: Northann Corp.
Filing Date: 2025-11-18
Form: 424B3
Chunk 3
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 |    7 |
| Item 6.                        | Exhibits                                                                                           |    8 |
| SIGNATURES                     |                                                                                                    |    9 |

| i |

<div align='center'>PART I – FINANCIAL INFORMATION</div>

Item 1. Financial Statements

<div align='center'>NORTHANN CORP.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In U.S. dollars)</div>

| ASSETS                                                                                                                                                                                                 
 Current Assets                                                                                                                                                                                         |     | September 30, 
 2025          
 (Unaudited)   |             |   |     | December 31, 
 2024         |            |   |
|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--------------|------------:|:--|:----|:-------------|-----------:|:--|
| Cash and cash equivalents                                                                                                                                                                              |     | $             |      40,883 |   |     | $            |    245,164 |   |
| Accounts receivable, net                                                                                                                                                                               |     |               |   2,456,698 |   |     |              |  3,106,561 |   |
| Inventory                                                                                                                                                                                              |     |               |   3,478,390 |   |     |              |  1,995,611 |   |
| Prepaid expense                                                                                                                                                                                        |     |               |     526,201 |   |     |              |    490,948 |   |
| Other receivables and other current assets                                                                                                                                                             |     |               |      49,925 |   |     |              |     74,984 |   |
| Tax recoverable                                                                                                                                                                                        |     |               |      22,631 |   |     |              |          - |   |
| Total Current Assets                                                                                                                                                                                   |     |               |   6,574,728 |   |     |              |  5,913,268 |   |
| Property, plant and equipment, net                                                                                                                                                                     |     |               |   3,596,214 |   |     |              |  3,894,434 |   |
| Construction in progress                                                                                                                                                                               |     |               |   2,230,705 |   |     |              |  1,258,701 |   |
| Intangible assets, net                                                                                                                                                                                 |     |               |     983,920 |   |     |              |    977,986 |   |
|