Company: NCL
Filing Date: 2025-11-18
Form Type: 424B3
Source: 0001575872-25-000699
Chunk: 5

Company: Northann Corp.
Filing Date: 2025-11-18
Form: 424B3
Chunk 5
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these consolidated financial statements.</div>

| F-2 |

<div align='center'>NORTHANN CORP.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

(In U.S. dollars)</div>

|                                 |     | Preferred 
 Stock     
 Number of 
 Shares    |           |     | Par   
 Value |       |     | Common    
 Stock     
 Number of 
 Shares    |            |     | Par   
 Value |        |     | Subscription 
 Receivable   |         |   |     | Additional 
 Paid-in    
 Capital    |           |     | Accumulated 
 Deficit     |            |   |     | Accumulated   
 Other         
 Comprehensive 
 Income        
 (Loss)        |          |   |     | Total         
 Stockholders' 
 Deficit       |           |   |
|:--------------------------------|:----|:----------|----------:|:----|:------|------:|:----|:----------|-----------:|:----|:------|-------:|:----|:-------------|:--------|:--|:----|:-----------|----------:|:----|:------------|-----------:|:--|:----|:--------------|---------:|:--|:----|:--------------|----------:|:--|
| Balance - December 31, 2023     |     |           | 5,000,000 |     | $     | 5,000 |     |           | 21,380,000 |     | $     | 21,380 |     | $            | (25,000 | ) |     |            | 6,671,016 |     | $           | (5,313,943 | ) |     | $             | (775,841 | ) |     | $             |   582,612 |   |
| Issuance of common stock        |     |           |           |     |       |       |     |           |  2,860,000 |     |       |  2,860 |     |              |         |   |     |            | 1,158,736 |     |             |            |   |     |               |          |   |     |               | 1,161,596 |   |
| Net income                      |     |           |         - |     |       |     - |     |           |          - |     |       |      - |     |              | -