Northann Corp. Files 10-Q with Stock Split Update
Ticker: NCL · Form: 10-Q · Filed: Aug 19, 2025 · CIK: 1923780
Sentiment: neutral
Topics: 10-Q, stock-split, financials
TL;DR
Northann Corp 10-Q filed. Stock split adjustment made. Financials updated.
AI Summary
Northann Corp. filed its 10-Q for the period ending June 30, 2025. The filing indicates a retrospective restatement for a 2-for-1 reverse stock split. Key financial data points and asset details are presented for various periods within 2024 and 2025.
Why It Matters
This filing provides investors with updated financial information and disclosures, including a significant stock split adjustment, which can impact share valuation and trading.
Risk Assessment
Risk Level: low — This filing is a routine quarterly report and does not contain immediate, significant negative news.
Key Numbers
- 0.5 — SIC Code (Standard Industrial Classification for Plastics Products, NEC)
- 4699081 — Accession Number (Unique identifier for the filing)
Key Players & Entities
- Northann Corp. (company) — Filer of the 10-Q
- 20250630 (date) — End of the reporting period
- 20250819 (date) — Filing date
- 2-for-1 (dollar_amount) — Reverse stock split ratio
FAQ
What was the specific reason for the retrospective restatement mentioned in the filing?
The filing states the retrospective restatement was for the effect of a 2-for-1 reverse stock split, as detailed in Note 16.
What is Northann Corp.'s Standard Industrial Classification (SIC) code?
Northann Corp.'s SIC code is 3089, which corresponds to 'PLASTICS PRODUCTS, NEC'.
What is the fiscal year end for Northann Corp.?
Northann Corp.'s fiscal year ends on December 31st.
What is the business address of Northann Corp.?
The business address is 2251 CATAWBA RIVER RD, FORT LAWN, SC 29714.
What is the SEC file number for Northann Corp.?
The SEC file number for Northann Corp. is 001-41816.
Filing Stats: 4,499 words · 18 min read · ~15 pages · Grade level 13.5 · Accepted 2025-08-19 16:06:14
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value NCL NYSE American LLC I
Filing Documents
- ncl-20250630.htm (10-Q) — 4902KB
- ncl093_ex31-1.htm (EX-31.1) — 49KB
- ncl093_ex31-2.htm (EX-31.2) — 53KB
- ncl093_ex32-1.htm (EX-32.1) — 26KB
- ncl093_ex32-2.htm (EX-32.2) — 27KB
- 0001575872-25-000540.txt ( ) — 13809KB
- ncl-20250630.xsd (EX-101.SCH) — 1071KB
- ncl-20250630_htm.xml (XML) — 2801KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION F-1 Item 1.
Financial Statements
Financial Statements F-1 Consolidated Balance Sheets F-1 Consolidated Statements of Operations and Comprehensive Income (Loss) F-2 Consolidated Statements of Shareholders' Deficit F-3 Consolidated Statements of Cash Flows F-4 Notes to Unaudited Condensed Financial Statements F-5 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 2 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 7 Item 4. Control and Procedures 7
– OTHER INFORMATION
PART II – OTHER INFORMATION 8 Item 1.
Legal Proceedings
Legal Proceedings 8 Item 1A.
Risk Factors
Risk Factors 8 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 8 Item 3. Defaults Upon Senior Securities 8 Item 4. Mine Safety Disclosures 8 Item 5. Other Information 8 Item 6. Exhibits 9
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements NORTHANN CORP. CONSOLIDATED BALANCE SHEETS (Unaudited) (In U.S. dollars) June 30, December 31, 2025 2024 (Unaudited) ASSETS Current Assets Cash and cash equivalents $ 1,062,038 $ 245,164 Accounts receivable, net 2,755,263 3,106,561 Inventory 3,519,140 1,995,611 Prepaid expense 738,442 490,948 Other receivables and other current assets 67,020 74,984 Total Current Assets 8,141,903 5,913,268 Property, plant and equipment, net 3,659,631 3,894,434 Construction in progress 2,059,807 1,258,701 Intangible assets, net 983,961 977,986 Operating lease right-of-use assets, net 1,648,594 1,822,266 Security deposits 9,030 9,030 TOTAL ASSETS $ 16,502,926 $ 13,875,685 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Bank borrowings, current $ 1,996,203 $ 4,699,081 Operating lease liabilities, current 370,800 355,754 Accounts and other payables and accruals 4,006,142 2,600,469 Unearned revenue 764,523 - Tax payable ( 13,034 ) 601,317 Due to related party 863,083 1,416,432 Total Current Liabilities 7,987,717 9,673,053 Bank borrowings, non-current 2,857,677 136,947 Operating lease liabilities, non-current 1,277,794 1,466,512 TOTAL LIABILITIES 12,123,188 11,276,512 Commitments and contingencies - - Stockholders' Equity Preferred stock – Series A, $ 0.001 par value, 100,000,000 shares authorized 10,000,000 shares issued and outstanding as of June 30, 2025 and December 31, 2024 5,000 5,000 Common stock: $ 0.001 par value, 400,000,000 shares authorized, 95,464,000 shares issued and outstanding as of June 30, 2025 and 55,464,000 shares issued and outstanding as of December 31, 2024 95,464 55,464 Subscription receivable ( 4,967,850 ) ( 1,375,000 ) Additional paid-in Capital 23,580,165 15,487,165 Accrued compensation expense ( 2,110,500 ) ( 2,927,250 ) Accumulated deficit ( 14,586,105 ) (