Company: NCL
Filing Date: 2025-01-14
Form Type: S-1/A
Source: 0001575872-25-000059
Chunk: 10

Company: Northann Corp.
Filing Date: 2025-01-14
Form: S-1/A
Chunk 10
---
 2,328,332.05 to the Company.

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 |
| Selling Stockholders                                 |   35 |
| Plan of Distribution                                 |   36 |
| Legal Matters                                        |   38 |
| Experts                                              |   38 |
| Where You Can Find Additional Information            |   38 |
| Information Incorporated By Reference                |   39 |

This prospectus is part of a registration