Company: NCL
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001575872-25-000540
Chunk: 7

Company: Northann Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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			EFFECT OF EXCHANGE RATE CHANGE ON CASH & CASH EQUIVALENTS

			981,112

			159,585

			Net change in cash and cash equivalents

			816,875

			(881,128

			)

			Cash and cash equivalents, beginning of period

			245,164

			1,105,214

			Cash and cash equivalents, end of period

			$

			1,062,038

			$

			224,086

			SUPPLEMENTAL CASH FLOW INFORMATION:

			Cash paid for income taxes

			$

			-

			$

			2,799

			Cash paid for interest

			$

			128,244

			$

			101,047

The accompanying notes are an integral part of these consolidated financial statements.

F-4

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

AS OF AND FOR THE SIX MONTHS ENDED JUNE 30, 2025 

(In U.S. dollars)

1. ORGANIZATION AND BUSINESS The Company commenced operations in August 2013 with the establishment of Northann Building Solutions LLC. (“NBS”) in Delaware. In December 2013, Northann (Changzhou) Construction Products Ltd (“NCP”) was established in China. All of its products were manufactured through NCP. In March 2014, Benchwich Construction Products Ltd (“Benchwick”) was established in Hong Kong. All wholesales to distributors are conducted through Benchwick. In April 2014, Changzhou Macro Merit International Trading Co., Ltd. (“MARCO”) was established in China. All the import/export of our products are conducted through MARCO. In February 2016, Northann Distribution Center Inc. (“NDC”) was established in California. NDC is a distribution center in the United States and maintains a small inventory for retail sales. In September 2017, Changzhou Ringold International Trading Co., Ltd. (“Ringold”) was established in China. All of the raw material are procured from third parties through Ringold. In September 2018, Crazy Industry (Changzhou) Industry Technology Co., Ltd. (“Crazy Industry”) was established in China. Crazy Industry is the research and development hub. In June 2020, Dotfloor Inc. (“Dotfloor”) was established in