Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 130

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 130
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 to our sales activities. Selling expenses increased by approximately $0.3 million or 126.3% from approximately $0.2 million for the six months ended March 31, 2024 to approximately $0.5 million for the six months ended March 31, 2025. The increase in selling expenses is mainly due to increase of marketing expenses to enhance promotion of the Company’s brands after the Company’s initial public offering (“IPO”). G&A expenses primarily consisted of salary and compensation expenses for our accounting, human resources and executive office personnel, and included rental, depreciation and amortization, impairment charges, office overhead, professional service fees and travel and transportation costs. G&A expenses increased by approximately $3.6 million or 899.1% from approximately $0.4 million for the six months ended March 31, 2024 to approximately $4.0 million for the six months ended March 31, 2025, due to the reason the Company incurred certain costs in strategy consulting and business consulting after the Company’s IPO. R&D expenses primarily consisted of compensation and benefit expenses for our R&D personnel as well as office overhead and other expenses for our R&D activities. R&D expenses decreased by approximately $1.2 million or 53.0% from approximately $2.2 million for the six months ended March 31, 2024 to approximately $1.0 million for the six months ended March 31, 2025. The decrease was mainly due to the reason that the Company incurred a one-off R&D expense of $2.0 million for AI training during the six months ended March 31, 2024, while incurred less R&D expense during the six months ended March 31, 2025.

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Other Income (Expense)

Other income (expense) primarily consists of interest income (expense), net, and other income, net. Our net other income was $123,970 for the six months ended March 31, 2025, and increased by $133,433 from net other expense of $9,463 for the six months ended March 31, 2024. The increase was mainly due to $139,724 gain on acquisition of a subsidiary resulted from acquisition consideration is less than the fair value of the acquired subsidiary deducted by the fair value of the non-controlling interest.

Income tax benefit

Income tax benefit was $98,657 and $179,413 for the six months ended March 31, 2025 and 2024