Company: NCL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001575872-25-000691
Chunk: 4

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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NORTHANN CORP.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In U.S. dollars)

			September 30,

			December 31,

			2025

			2024

			(Unaudited)

			ASSETS

			Current Assets

			Cash and cash equivalents

			$

			40,883

			$

			245,164

			Accounts receivable, net

			2,456,698

			3,106,561

			Inventory

			3,478,390

			1,995,611

			Prepaid expense

			526,201

			490,948

			Other receivables and other current assets

			49,925

			74,984

			Tax recoverable

			22,631

			-

			Total Current Assets

			6,574,728

			5,913,268

			Property, plant and equipment, net

			3,596,214

			3,894,434

			Construction in progress

			2,230,705

			1,258,701

			Intangible assets, net

			983,920

			977,986

			Operating lease right-of-use assets, net

			1,559,121

			1,822,266

			Security deposits

			9,030

			9,030

			TOTAL ASSETS

			$

			14,953,718

			$

			13,875,685

			LIABILITIES AND STOCKHOLDERS' EQUITY

			Current Liabilities

			Accounts and other payables and accruals

			$

			5,062,684

			$

			2,600,469

			Unearned revenue

			1,594,981

			-

			Operating lease liabilities, current

			375,573

			355,754

			Loan payable, current

			1,279,857

			4,699,081

			Tax payable

			-

			601,317

			Due to related party

			689,172

			1,416,432

			Total Current Liabilities

			9,002,267