Company: NTCL
Filing Date: 2025-02-18
Form Type: 20-F
Source: 0001410578-25-000153
Chunk: 130

Company: NetClass Technology Inc
Filing Date: 2025-02-18
Form: 20-F
Item: Item 5
Chunk 130
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’ resolution or the directors’ decision to pay the dividend or by the terms on which the shares of the company are issued, any dividend must be paid by reference to each member’s holding of shares as at the date of the resolution or decision to declare or to pay the dividend; and (iv) the directors may set aside as reserves any sums out of the profits of the company or carry forward any profits as they think fit.

Save as aforesaid, the articles of association of neither NetClass HK nor NetClass International contain any additional requirement or restriction on the distribution of dividends to their common shareholder, namely NetClass.

4C. Organizational Structure

For descriptions of our organizational structure, contractual arrangements, variable interest entity and subsidiaries as of the date of this annual report, please see “Item 3. Key Information - Our Holding Company Structure.”

4D. Property, Plants and Equipment

Under PRC law, land is owned by the state. “ Land use rights” are granted to an individual or entity after payment of a land use right fee is made to the applicable state or rural collective economic organization. Land use rights allow the holder of the right to use the land for a specified long-term period.

As of September 30, 2024, our principal business sites were in the PRC and Hong Kong. The following table sets forth certain information relating to our principal facilities as of September 30, 2024.

  Location                                                                                 Size      Primary Use      Owned or  
                                                                                        (Square                       Leased    
                                                                                        Meters)                                 
  1198 Wanrong Road, Rooms 601B, 601C, 601D, 601E, 601F and 602                             421      Office           Leased    
  Unit B On 19th Floor, Vulcan House, 21-23 Leighton Road, Causeway Bay, HONG KONG           50      Office           Leased    
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ITEM 4A. UNRESOLVED STAFF COMMENTS

Not Applicable.