Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 99

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 borrowings were secured by land use right. The weighted average interest rate for the bank borrowings for the six months ended June 30, 2025 and 2024 was approximately 4.93% and 4.70%, respectively. Current Bank Loan period  Interestrate    Balance atJune 30,2025      Balance atDecember 31,2024                Industrial and Commercial Bank of China June 4, 2024-June 12, 2025   4.35% $-  $1,369,994 Industrial and Commercial Bank of China June 4, 2024-June 10, 2025   4.35%  -   1,369,994 Jiangnan Rural Commercial Bank February 28, 2024-July 27, 2025   4.79%  1,256,352   1,232,994 Agricultural Bank of China, Changzhou Zhonglou Sub-branch July 26, 2024-August 23, 2025   3.25%  739,851   726,097 Total          $1,996,203  $4,699,080    F-13  

Non-current Bank Loan period  Interestrate    Balance atJune 30,2024      Balance atDecember 31,2024   Industrial and Commercial Bank of China June 13, 2025-June 13, 2028    3.45%  $ 1,326,149  $  - Industrial and Commercial Bank of China June 13, 2025-June 13, 2028    3.45   1,395,946    - EIDL Loan From June 26, 2020 to June 25, 2050   3.75%  135,582   136,947 Total          $2,857,677  $136,947 

9. BALANCES WITH RELATED PARTY 1)Related party transactions For the six months ended June 30, 2025 and 2024, the Company’s related party provided working capital to support the Company’s operations when needed. The borrowings were unsecured, due on demand, and