Company: NTCL
Filing Date: 2025-02-18
Form Type: 20-F
Source: 0001410578-25-000153
Chunk: 134

Company: NetClass Technology Inc
Filing Date: 2025-02-18
Form: 20-F
Item: Item 7
Chunk 134
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ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
7.A. Major Shareholders
See “Item 6. Directors, Senior Management and Employees – E. Share Ownership” for a description of our major shareholders.
7.B. Related Party Transactions
Set forth below are the related party transactions of our company that occurred since the beginning of the last year up to the date of this annual report. The transactions are identified in accordance with the rules prescribed under Form 20-F and may not be considered as related party transactions under PRC law.

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Transactions with Certain Related Parties
We adopted an audit committee charter, which requires the committee to review all related party transactions on an ongoing basis and all such transactions be approved by the audit committee. In determining whether to approve a related party transaction, the audit committee shall consider, among other factors, the following factors to the extent relevant to the related party transaction:

●   whether the terms of the related party transaction are fair to the Company and on the same basis as would apply if the transaction did not involve a related party;
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●   whether there are business reasons for the Company to enter into the related party transaction;
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●   whether the related party transaction would impair the independence of an outside director;
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●   whether the related party transaction would present an improper conflict of interest for any director or executive officer of the Company, taking into account the size of the transaction, the overall financial position of the director, executive officer or the related party, the direct or indirect nature of the director’s, executive officer’s or the related party’s interest in the transaction and the ongoing nature of any proposed relationship, and any other factors the audit committee deems relevant; and
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●   any pre-existing contractual obligations.
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Set forth below are the related party transactions of our company that occurred during the past three years up to the date of this annual report.
1) Nature of relationships with related parties
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Name of Related Party                                   Relationship to the Company                                                                   
Jianbiao Dai                                            Chief Executive Officer (“CEO”); Chairman of the Company                                      
Shanghai Youfu Network Co., Ltd.                        Shareholder of the Company                                                                    
Shanghai Longruan Electronics Group Co., Ltd            Jianbiao Dai serves as legal representative and holds 80% of the shares;                      
Shanghai Yiyun Information Service Co., Ltd             Jian