Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 15

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 15
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 and our PRC subsidiaries’ dividends and other distributions
may be subject to tightened scrutiny in the future. The PRC government also imposes controls on the conversion of RMB into foreign currencies
and the remittance of currencies out of the PRC. Therefore, we may experience difficulties in completing the administrative procedures
necessary to obtain and remit foreign currency for the payment of dividends from our profits, if any. Furthermore, if our subsidiaries
in the PRC incur debt on their own in the future, the instruments governing the debt may restrict their ability to pay dividends or make
other payments.

We are an “emerging growth company”
under the federal securities laws and will be subject to reduced public company reporting requirements.

Investing in our Class A Ordinary Shares
involves high degree of risks. You should read carefully the discussion of material risks of investing in our Ordinary Shares. See “Risk
Factors” on page 22.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

You should not assume that the information contained
in the registration statement to which this prospectus is a part is accurate as of any date other than the date hereof, regardless of
the time of delivery of this prospectus or of any sale of the Class A Ordinary Shares being registered in the registration statement
of which this prospectus forms a part.

No dealer, salesperson or any other person is
authorized to give any information or make any representations in connection with this offering other than those contained in this prospectus
and, if given or made, the information or representations must not be relied upon as having been authorized by us. This prospectus does
not constitute an offer to sell or a solicitation of an offer to buy any security other than the securities offered by this prospectus,
or an offer to sell or a solicitation of an offer to buy any securities by anyone in any jurisdiction in which the offer or solicitation
is not authorized or is unlawful.

<div align='center'>The date of this prospectus is , 2025.

TABLE OF CONTENTS</div>

|                                                                  | Page |
| ABOUT THIS PROSPECTUS                                            |   ii |
| SPECIAL NOTICE REGARDING FORWARD-LOOKING STATEMENTS              |  iii |
| PROSPECTUS SUMMARY                                               |    1 |
| RISK FACTORS                                                     |   22 |
| CAPITALIZATION AND INDEBTNESS