Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 21

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 21
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 epidemic prevention and control, EDC (Education Chain) blockchain system,
and lecturer evaluation services, etc. Our mission is to provide high-quality and reliable products to our customers to maintain
sustainable business growth over the long term.

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We believe we are one of the leading online education
brands in the PRC’s online education software industry. We have advantages in customized design, easy-to-use interface, knowledge
of the industry and market, and our experienced management. In addition, we believe we are the pioneer in applying blockchain technology
to online education and related area. For more details, see “Business – Our Products and Services – EDC (Education Credit)
blockchain system.” Our B2B business revenues was 3,6854,410 and $3,766,192 for the six months ended March 31, 2025 and 2024
and $11,089,528 and $9,257,607 during the fiscal years ended September 30, 2023 and 2022, respectively.

Corporate Structure

NetClass is a Cayman Islands exempted company incorporated on January 4, 2022. We conduct our business in the PRC, Hong Kong SAR and Singapore
through our subsidiaries. The consolidation of our Company and our subsidiaries has been accounted for at historical cost and prepared
on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying
consolidated financial statements.

Netclass Japan was incorporated under the laws of Japan, and acquired by NetClass on February 28, 2025. NetClass holds 51%
equity interest in Netclass Japan.

NetClass HK was incorporated on December 12,
2006, under the laws of Hong Kong SAR and acquired by NetClass on May 5, 2022. NetClass HK is a wholly-owned subsidiary
of NetClass and is our main operating entity in Hong Kong as well as the holding company of our PRC subsidiaries.

NetClass International was incorporated by
NetClass on July 28, 2023, under the laws of Hong Kong SAR. NetClass International is a wholly-owned subsidiary of NetClass and
currently does not conduct any business operations. “Hong Kong Subsidiaries” refer to NetClass HK and NetClass International
collectively.

NetClass Singapore was incorporated on May 13,
2024, under the laws of the Republic of Singapore and acquired by NetClass on July 1, 2024, of