Company: NCL
Filing Date: 2025-11-18
Form Type: 424B3
Source: 0001575872-25-000699
Chunk: 4

Company: Northann Corp.
Filing Date: 2025-11-18
Form: 424B3
Chunk 4
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<div align='center'>The accompanying notes are an integral part of
these consolidated financial statements.</div>

| F-1 |

<div align='center'>NORTHANN CORP.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(In U.S. dollars)</div>

|                                                                 |     | Three Months Ended 
 2025               | September 30, |   |     | 2024 |            |   |     | Nine Months Ended 
 2025              | September 30, |   |     | 2024 |            |   |
|:----------------------------------------------------------------|:----|:-------------------|--------------:|:--|:----|:-----|-----------:|:--|:----|:------------------|--------------:|:--|:----|:-----|-----------:|:--|
| Revenue                                                         |     | $                  |     3,545,412 |   |     | $    |  2,557,585 |   |     | $                 |     8,689,360 |   |     | $    | 11,042,009 |   |
| Cost of revenue                                                 |     |                    |     4,986,401 |   |     |      |    929,002 |   |     |                   |    10,653,499 |   |     |      |  6,968,809 |   |
| Gross Profit                                                    |     |                    |    (1,440,989 | ) |     |      |  1,628,583 |   |     |                   |    (1,964,139 | ) |     |      |  4,073,200 |   |
| Operating Expenses                                              |     |                    |               |   |     |      |            |   |     |                   |               |   |     |      |            |   |
| Selling                                                         |     |                    |     6,362,313 |   |     |      |    159,368 |   |     |                   |     7,901,900 |   |     |      |    564,805 |   |
| General and administrative                                      |     |                    |       662,331 |   |     |      |    575,678 |   |     |                   |     2,649,905 |   |     |      |  2,521,