Company: NCL
Filing Date: 2025-01-14
Form Type: S-1/A
Source: 0001575872-25-000059
Chunk: 53

Company: Northann Corp.
Filing Date: 2025-01-14
Form: S-1/A
Chunk 53
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 Hong Kong. On December 15, 2022, the
PCAOB announced that it was able to secure complete access to inspect and investigate PCAOB-registered public accounting firms headquartered
in mainland China and Hong Kong completely in 2022. The PCAOB vacated its previous 2021 determinations that the PCAOB was unable to inspect
or investigate completely registered public accounting firms headquartered in mainland China and Hong Kong.

Our auditor, WWC, P.C.,
the independent registered public accounting firm that issued the audit report included elsewhere in this prospectus, as an auditor of
companies that are traded publicly in the United States and a U.S.-based accounting firm registered with the PCAOB, is headquartered in
Mateo, CA and is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess its compliance
with the applicable professional standards. WWC, P.C., is not headquartered in China or Hong Kong. Notwithstanding the foregoing, if
the PCAOB determines that it cannot inspect or fully investigate our auditor at such future time, trading in our common stock will be
prohibited under the HFCA Act and NYSE American may determine to delist our common stock.

Moreover, the recent
developments would add uncertainties to the listing of our common stock, and we cannot assure you whether SEC, NYSE American or regulatory
authorities would apply additional and more stringent criteria to us after considering the effectiveness of our auditor’s audit
procedures and quality control procedures, adequacy of personnel and training, or the sufficiency of resources, geographic reach or experience
as it relates to the audit of our financial statements.

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The purchase price for our common stock may not be indicative of prices that will prevail in the trading market and such market prices may be volatile.

The purchase price for our common stock does not
bear any relationship to our earnings, book value or any other indicia of value. We cannot assure you that the market price of our common
stock will not decline significantly below the purchase price. The financial markets in the United States and other countries have experienced
significant price and volume fluctuations in the last few years. Volatility in the price of our common stock may be caused by factors
outside of our control and may be unrelated or disproportionate to changes in our results of operations.

You may experience extreme stock price volatility, including any stock-run up, unrelated to our actual or expected operating performance, financial condition or prospects, making it difficult for prospective investors to assess the