Company: NCL
Filing Date: 2025-11-18
Form Type: 424B3
Source: 0001575872-25-000699
Chunk: 2

Company: Northann Corp.
Filing Date: 2025-11-18
Form: 424B3
Chunk 2
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 filer   | x | Smaller reporting company | x |
|                         |   | Emerging growth company   | x |

If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No
x

On November 12, 2025, the registrant had 22,724,784 shares of common
stock and 1,250,000 shares of Series A Preferred Stock outstanding, post October 7, 2025, 1-for-8 reverse stock split.

<div align='center'>Northann Corp.

Quarterly Report on Form 10-Q

TABLE OF CONTENTS</div>

|                                |                                                                                                    | Page |
| PART I – FINANCIAL INFORMATION |                                                                                                    |  F-1 |
| Item 1.                        | Financial Statements                                                                               |  F-1 |
|                                | Consolidated Balance Sheets                                                                        |  F-1 |
|                                | Consolidated Statements of Operations and Comprehensive Income (Loss)                              |  F-2 |
|                                | Consolidated Statements of Shareholders’ Deficit                                                   |  F-3 |
|                                | Consolidated Statements of Cash Flows                                                              |  F-4 |
|                                | Notes to Unaudited Condensed Financial Statements                                                  |  F-5 |
| Item 2.                        | Management’s Discussion and Analysis of Financial Condition and Results of Operations              |    2 |
| Item 3.                        | Quantitative and Qualitative Disclosures about Market Risk                                         |    6 |
| Item 4.                        | Control and Procedures                                                                             |    6 |
| PART II – OTHER INFORMATION    |                                                                                                    |    7 |
| Item 1.                        | Legal Proceedings                                                                                  |    7 |
| Item 1A.                       | Risk Factors                                                                                       |    7 |
| Item 2.                        | Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities |    7 |
| Item 7.                        | Defaults Upon Senior Securities                                                                    |    7 |
| Item 4.                        | Mine Safety Disclosures                                                                            |    7 |
| Item 5.                        | Other Information