Company: NTCL
Filing Date: 2025-02-18
Form Type: 20-F
Source: 0001410578-25-000153
Chunk: 27

Company: NetClass Technology Inc
Filing Date: 2025-02-18
Form: 20-F
Item: Item 5
Chunk 27
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 which you should read in its entirety.

Risks Related to Doing Business in the PRC

  The Chinese government exerts substantial influence over the manner in which we must conduct our business activities. We are currently not required to obtain approval from Chinese authorities t...  

  The PRC government may impose restrictions on our ability to transfer cash out of the PRC and to U. S. investors.  
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  PRC laws and regulations governing our current business operations are sometimes vague and uncertain and any changes in such laws and regulations may impair our ability to operate profitably.  
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  There are uncertainties under the PRC laws relating to the procedures for U. S. regulators to investigate and collect evidence from companies located in the PRC.  

  Fluctuations in exchange rates could have a material adverse effect on our results of operations and the price of our Class A ordinary shares.  
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  If we are classified as a PRC resident enterprise for PRC income tax purposes, such classification could result in unfavorable tax consequences to us and our non-PRC shareholders.  

  We may not be able to obtain certain benefits under relevant tax treaties on dividends paid by our PRC subsidiaries to us through our Hong Kong Subsidiary.  
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Table of Contents

  The recent joint statement by the SEC and PCAOB, proposed rule changes submitted by Nasdaq, and the Holding Foreign Companies Accountable Act all call for additional and more stringent criteria...  

  We may be adversely affected by the complexity, uncertainties and changes in PRC regulation of internet-related businesses and companies, and any lack of requisite approvals, licenses or permit...  
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Risks Related to Doing Business in Hong Kong

  A downturn in the Hong Kong economy or a change in the economic conditions in Mainland China or globally could materially and adversely affect our business and financial condition.  

  Changes in international trade policies, trade disputes, barriers to trade, or the emergence of a trade war