Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 22

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 22
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 investors, or cause such securities to significantly decline in value or become worthless. As of the date of this prospectus, we and our PRC subsidiaries have received from PRC authorities all requisite licenses, permissions or approvals needed to engage in the businesses currently conducted in the PRC, and no permission or approval has been denied. The following table provides details on the permissions and approvals received by our PRC subsidiaries.

| ​                                                  
 Company                                            
 Shanghai Zhima information Technology Co., Ltd.    | ​ 
 ​ | ​                   
 Permission/Approval 
 Business License    | ​ 
 ​ | ​                                                       
 Issuing Authority                                       
 Shanghai Municipal Administration for Market Regulation | ​ 
 ​ | ​                      
 Validity               
 Until April 29, 2029   |
|:---------------------------------------------------|:--|:--------------------|:--|:--------------------------------------------------------|:--|:-----------------------|
| Shanghai Netwide Enterprise Management Co., Ltd.   | ​ | Business License    | ​ | Shanghai Municipal Administration for Market Regulation | ​ | Long-Term              |
| Shanghai NetClass Information Technology Co., Ltd. | ​ | Business License    | ​ | Shanghai Municipal Administration for Market Regulation | ​ | Long-Term              |
| Shanghai Chuangyuan Education Technology Co., Ltd. | ​ | Business License    | ​ | Shanghai Municipal Administration for Market Regulation | ​ | Long-Term              |
| Shanghai NetClass Human Resource Co., Ltd.         | ​ | Business License    | ​ | Shanghai Municipal Administration for Market Regulation | ​ | Until November 8, 2036 |
| Shanghai NetClass Enterprise Management Co., Ltd.  | ​ | Business License    | ​ | Shanghai Municipal Administration for Market Regulation | ​ | Until August 28, 2046  |
| NetClass Training (Shanghai) Co., Ltd.             | ​ | Business License    | ​ | Shanghai Municipal Administration for Market Regulation | ​ | Until August 18, 2036  |

Recently, however, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council jointly issued the “Opinions on Severely Cracking Down on Illegal Securities Activities According to Law,” or the “Opinions,” which were made available to the public on July 6, 2021. The Opinions emphasized the need to strengthen the administration over illegal securities activities and the need to strengthen the supervision over overseas listings by Chinese companies. These opinions proposed to take effective measures, such as promoting the construction of relevant regulatory systems, to deal with