Company: NCL
Filing Date: 2025-01-29
Form Type: S-1/A
Source: 0001575872-25-000097
Chunk: 10

Company: Northann Corp.
Filing Date: 2025-01-29
Form: S-1/A
Chunk 10
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 2,328,332.05 to the Company.

Cash flows of the Company can be found individually
on page F-25 under Note 19 - Unrestricted Net Assets. The transfers of funds between the Company and the subsidiaries and among subsidiaries
are subject to the Provisions of the Supreme People’s Court on Several Issues Concerning the Application of Law in the Trial of
Private Lending Cases (2020 Revision, the “Provisions on Private Lending Cases”), which was implemented on August 20, 2020
to regulate the financing activities between natural persons, legal persons and unincorporated organizations. As advised by our PRC counsel,
Grandall Law Firm, the Provisions on Private Lending Cases does not prohibit using cash generated
from the Company or one subsidiary to fund another subsidiary’s operations. We have not been notified of any other restriction which
could limit our PRC subsidiaries’ ability to transfer cash between subsidiaries and between the Company and the subsidiaries. In
addition, management monitors the cash position of each entity within our organization regularly and prepare budgets on a monthly basis
to ensure each entity has the necessary funds to fulfil its obligation for the foreseeable future and to ensure adequate liquidity. In
the event that there is a need for cash or a potential liquidity issue, it will be reported to the Chief Executive Officer and, subject
to approval by the board of directors, we will enter into an intercompany loan for the subsidiary.

Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.

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

TABLE OF CONTENTS</div>

|                                                      | Page |
| Prospectus Summary                                   |    3 |
| Risk Factors                                         |   14 |
| Cautionary Note Regarding Forward-Looking Statements |   28 |
| Enforceability of Civil Liabilities                  |   29 |
| Acquisitions and Private Placements                  |   30 |
| Use of Proceeds                                      |   31 |
| Corporate History and Structure                      |   32 |
| Description of Capital Stock                         |   33 |
| Executive Compensation                               |   35 |
| Selling Stockholders                                 |   40 |
| Plan of Distribution                                 |   41 |
| Legal Matters                                        |   43 |
| Experts                                              |   43 |
|