Company: NTCL
Filing Date: 2025-02-18
Form Type: 20-F
Source: 0001410578-25-000153
Chunk: 131

Company: NetClass Technology Inc
Filing Date: 2025-02-18
Form: 20-F
Item: Item 6
Chunk 131
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Item 6. Directors, Senior Management and Employees – E. Share Ownership

” for a description of our major shareholders.

7. B. Related Party Transactions

Set forth below are the related party transactions of our company that occurred since the beginning of the last year up to the date of this annual report. The transactions are identified in accordance with the rules prescribed under Form 20-F and may not be considered as related party transactions under PRC law.

Table of Contents

Transactions with Certain Related Parties

We adopted an audit committee charter, which requires the committee to review all related party transactions on an ongoing basis and all such transactions be approved by the audit committee. In determining whether to approve a related party transaction, the audit committee shall consider, among other factors, the following factors to the extent relevant to the related party transaction:

  whether the terms of the related party transaction are fair to the Company and on the same basis as would apply if the transaction did not involve a related party;  

  whether there are business reasons for the Company to enter into the related party transaction;  

  whether the related party transaction would impair the independence of an outside director;  

  whether the related party transaction would present an improper conflict of interest for any director or executive officer of the Company, taking into account the size of the transaction, the o...  

  any pre-existing contractual obligations.  

Set forth below are the related party transactions of our company that occurred during the past three years up to the date of this annual report.

1) Nature of relationships with related parties

  Name of Related Party                                  Relationship to the Company                                                                     
  Jianbiao Dai                                           Chief Executive Officer (“ CEO”); Chairman of the Company                                       
  Shanghai Youfu Network Co., Ltd.                       Shareholder of the Company                                                                      
  Shanghai Longruan Electronics Group Co., Ltd           Jianbiao Dai serves as legal representative and holds 80% of the shares;                        
  Shanghai Yiyun Information Service Co., Ltd            Jianbiao Dai served as a supervisor and hold 60% of the shares                                  
  Shanghai Chuangbo Enterprise Development Co., Ltd      A director of the Company serving as a corporate supervisory role                               
  Shanghai Longruan Business Consulting Co., Ltd         Jianbiao Dai serves as legal representative and holds 80% of the shares directly or indirectly  
  Lang Wide Investment Inc.                              A shareholder of the Company                                                                    

2) Significant Related party transactions

Purchases from related parties

                                       For the years ended                                   
                                       September 30