Company: NCL
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001575872-25-000691
Chunk: 126

Company: Northann Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 126
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 increase in freight of $17,349.

2

  Three Months Ended September 30,    2025   2024   Fluctuation   Amount  Proportion  Amount  Proportion  Amount  Proportion Salaries and social insurance $ 170,148   2.7% $ 80,290   50.4% $89,858   111.9%Share-based compensation  5,929,200   93.2%  -   -  5,929,200   -Freight  33,024   0.5%  15,675   9.8%  17,349   110.7%Rent  149,611   2.4%  12,416   7.8%  137,195   1105.0%Advertising fee  58,495   0.9%  31,179   19.6%  27,316   87.6%Travel fee  21,835   0.3%  19,245   12.1%  2,590   13.5%Others  -   -%  563   0.3%  (563)  -100.0%Total selling expenses $ 6,362,313   100.0% $ 159,368   100.0% $ 6,202,945   3892.2%

General and administrative expenses. As shown below, our general and administrative expenses consist primarily of compensation and benefits to our general management, finance and administrative staff, professional fees and other expenses incurred in connection with general operations. Our general and administrative expenses increased by $86,649 to $662,331 for the three months ended September 30, 2025, from $575,678 for the same period in 2024. The increase was mainly caused by an increase in share-based compensation to directors of $415,183, and other items with minor changes, partly offset by a decrease in service fees of $320,496.

  Three Months Ended September 30,    2025   2024   Fluctuation   Amount  Proportion  Amount  Proportion  Amount  Proportion Salary