Company: NTCL
Filing Date: 2025-10-20
Form Type: F-1
Source: 0001104659-25-100526
Chunk: 168

Company: NetClass Technology Inc
Filing Date: 2025-10-20
Form: F-1
Chunk 168
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 for the six months ended March 31, 2025, and 2024. The increase was due to the company obtained more capital after IPO to promote the company’s brand and services.In 2024 we reduced market expense, our marketing expense was $296,850, $513,474 and $1,202,430 for the years ended September 30, 2024, 2023 and 2022, respectively. Our marketing expenses were 77.0%, 84.6% and 92.6% of the total selling and marketing expenses for the years ended September 30, 2024, 2023 and 2022, respectively. The decrease in marketing expenses has to some extent led to a decrease in subscription service revenue, from $5,877,323 in 2022 to $2,776,175 in 2023, and further decrease to $2,288,806, while our application development services have maintained growth. Since we operate in a highly competitive market, brand maintenance and enhancement directly affect our ability to improve our market position.We plan to further increase brand awareness and market share by (i) promoting our products and services in different industries, (ii) engaging marketing partners to expand market reach, and (iii) explore new marketing channels, especially internet and social media marketing.​​

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<div align='center'>Research and Development</div>

Our research and development activities are an important part of how we operate and are key to our competitive advantage and growth strategy. As of March 31, 2025, our R&D team consists of 26 employees. During the six months ended March 31, 2025 and 2024, we invested $1,039,528 and $2,213,377 in research and development. As of September 30, 2024, our R&D team consists of 24 employees. During the fiscal years ended September 30, 2024 and 2023, we invested 2,515,015 and $567,809 in research and development.

[As of the date of this prospectus, we have registered four patents, three of them in the PRC and one in the United States. We have also applied for two additional patents in the PRC. In addition, we have registered 67 software copyrights in the PRC, all developed in-house.]

We continue to explore ways to better serve to our customers and increase customer loyalty by anticipating customers’ needs and improving the enterprise internal