Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 53

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 53
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 demand for our products and hurt our business results.          |

| · | We may encounter problems related to our operational and financial systems and controls during any growth, 
 including quality control and delivery and production capacities.                                          |

| · | We may encounter a working capital shortage, as we may need additional funds to finance the purchase of 
 materials and supplies, develop new products, and hire additional employees.                            |

| · | We cannot assure you that our internal growth strategy will be successful, which may negatively impact 
 our growth, financial condition, results of operations, and cash flow.                                 |

| · | Our business is substantially dependent upon our key research and development personnel who possess valuable 
 skills in our industry, and we may have to compete for their services actively.                              |

| · | If we fail to protect our intellectual property rights, it could harm our business and competitive position. |

| · | Our financial and operating performance may be adversely affected by epidemics, natural disasters, and 
 other catastrophes.                                                                                    |

| 19 |

| · | If we cannot continue to innovate or fail to adapt to changes in our industry, our business, financial 
 condition, and results of operations would be materially and adversely affected.                       |

| · | We utilize artificial intelligence, which could expose us to liability or adversely affect our business. |

| · | We need to continue to expend time, money, and resources into our and our institutions’ information                                   
 technology, which may place a strain on our capacity that could adversely affect our systems, controls, and operating efficiency, and 
 those of our institutions.                                                                                                            |

| · | If we fail to promote and maintain our brand effectively and cost-efficient, our business and results 
 of operations may be harmed.                                                                          |

| · | New lines of business or new products may subject us to additional risks. |

| · | Government policy changes on blockchain may pose risks. |

| · | We may evaluate and potentially consummate strategic investments or acquisitions from time to time, which         
 could require significant management attention, disrupt our business, and adversely affect our financial results. |

| · | We may be exposed to liabilities under the Foreign Corrupt Practices Act. Any determination that we violated 
 the Foreign Corrupt Practices Act could have a material adverse effect on our business.                      |

| · | We have identified material weaknesses in our internal control over financial reporting. If we fail to                                     
 develop and maintain an effective system of internal control over financial reporting, we may be unable to accurately report our