Company: NCL
Filing Date: 2025-11-18
Form Type: 424B3
Source: 0001575872-25-000699
Chunk: 30

Company: Northann Corp.
Filing Date: 2025-11-18
Form: 424B3
Chunk 30
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 (loss) – Parent only                               |     |                                         |  (7,532,552 | ) |     |                                         | (1,710,791 | ) |
| Income (loss) – Subsidiaries with unrestricted net assets |     |                                         |  (5,984,117 | ) |     |                                         |  1,470,873 |   |
| (Loss) – Subsidiaries with restricted net assets          |     |                                         |    (174,930 | ) |     |                                         |   (200,978 | ) |
| Net (loss) income – Consolidated                          |     | $                                       | (13,691,600 | ) |     | $                                       |   (440,897 | ) |

Condensed Financial Information on Cash Flows

|                                                 |     | For the nine months ended September 30, 
 2025                                    
 (Unaudited)                             |            |   |     | For the nine months ended September 30, 
 2024                                    |     |
|:------------------------------------------------|:----|:----------------------------------------|-----------:|:--|:----|:----------------------------------------|----:|
| Cash (used in) provided by operating activities |     | $                                       | (7,532,552 | ) |     | $                                       | 217 |
| Cash (used in) provided by investing activities |     |                                         |          - |   |     |                                         |   - |
| Cash (used in) provided by financing activities |     |                                         |  7,533,052 |   |     |                                         |   - |
| Effect of exchange rates on cash                |     |                                         |          - |   |     |                                         |   - |
| Net cash flows                                  |     |                                         |        500 |   |     |                                         | 217 |
| Beginning cash balance                          |     |                                         |          - |   |     |                                         | 370 |
| Ending cash balance                             |     | $                                       |        500 |   |     | $                                       | 587 |

| (i) | Basis of presentation |

The condensed financial information
reflects the accounts of the Company. The condensed financial information should be read in connection with the consolidated financial
statements and notes thereto. The condensed financial information is presented as if the incorporation of the Company were in effect since
January 1, 2020.

| (ii) | Restricted Net Assets |

Schedule I of Rule 5-04