Company: NTCL
Filing Date: 2025-12-29
Form Type: F-3
Source: 0001104659-25-124826
Chunk: 55

Company: NetClass Technology Inc
Filing Date: 2025-12-29
Form: F-3
Chunk 55
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 are incorporated under Cayman Islands law.                        |

| · | Certain judgments obtained against us by our shareholders may not be enforceable. |

| · | Nasdaq may apply additional and more stringent criteria for our continued listing and insiders currently 
 hold a large portion of our listed securities.                                                           |

| · | If we cannot continue to satisfy the continued listing requirements and other rules of Nasdaq Capital                                       
 Market, although we exempt from certain corporate governance standards applicable to US issuers as a Foreign Private Issuer, our securities 
 may be delisted, which could negatively impact the price of our securities and your ability to sell them.                                   |

| · | The market price of our Class A Ordinary Shares may be volatile or may decline regardless of our 
 operating performance.                                                                           |

| · | Certain recent initial public offerings of companies with public floats comparable to the anticipated                                        
 public float of the Company have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective 
 company. We may experience similar volatility, which may make it difficult for prospective investors to assess the value of our Class A      
 Ordinary Shares.                                                                                                                             |

| · | We do not intend to pay dividends for the foreseeable future. |

| · | We incur additional costs as a result of becoming a public company, which could negatively impact our 
 net income and liquidity.                                                                             |

| 21 |

<div align='center'>RISK FACTORS</div>

Investing in our Class A Ordinary Shares is highly speculative and involves a significant degree of risk. You should carefully consider the following risks, other information contained in this prospectus, the risks described under “Item 3. Key Information - D. Risk Factors” in the Annual Report on Form 20-F for the year ended September 30, 2024, which is herein incorporated by reference. In addition, you should consider the risk factors in any prospectus supplement. Such risks are not exhaustive, before making an investment in our Company. The risks discussed below could materially and adversely affect our business, prospects, financial condition, results of operations, cash flows, ability to pay dividends and the trading price of our shares. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially and adversely affect our business, prospects, financial condition, results of operations, cash flows and ability to pay dividends, and you may lose all or part of your investment.

This prospectus also contains forward-looking statements having direct and/or indirect implications on our future performance. Our actual results may differ materially