Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 163

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 163
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 provide training and an eighteen-month warranty. Upon expiration of the warranty, NetClass China shall continue to provide maintenance services and may charge service fees. After full payment of the fees by Customer B, Customer B shall own the software and any intellectual properties thereof. The breaching party shall compensate the non-breaching party for the losses suffered due to the breach of contract, including but not limited to the non-breaching party’s direct and indirect economic losses, investigation and evidence collection fees, litigation fees/arbitration fees, travel expenses, etc. If either party delays the delivery of the products or the payments of the purchase price, the non-defaulting party is entitled to liquidated damages in the amount of 0.05% of the purchase price under the agreement, and if such delay exceeds 15 days, the non-defaulting party has the right to terminate the agreement. The agreements are governed by the laws of the PRC. The application development service contracts including technical service agreements, software development agreements and equipment sales agreement with major customers contain terms regarding scope of services, effective period, fees and settlement, inspection and quality assurance, termination, and liabilities for breach of contract, etc. Technical service agreements usually have a term of one to three years. Generally, the agreements will also state that the services shall be delivered within a certain period of time. The agreements can also be terminated if performance is impossible due to a violation of laws or force majeure. The agreements usually also prohibit us from assigning the rights and obligations under the agreement without prior written consent of the customer. Software service and development sales agreements usually state that the services shall be delivered within a certain period of time. Because delivery under these agreements usually happens shortly after signing, the agreements do not necessarily include a termination clause. Major Suppliers Our suppliers include software suppliers, equipment suppliers and advertisers, who mainly provide us with application software, project equipment, advertising services, consulting services and other products or services. Even though we have suppliers that each accounts for more than 10% of the total cost, we are not dependent on any suppliers. We maintain good relationships and close liaison with various high quality suppliers to ensure adequate and timely supply of products and services. Major suppliers that make up 10% or more of purchase for the six months ended March 31, 2025 and 2024 are as follows:

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