NTCL NetClass Technology Inc

BEARISH Impact: 4/10 F-1
Horizon months Filed Apr 20, 2026 Processed 1mo ago SEC 0001104659-26-045532
Foreign IPO registration
Latest settled — T+20d
NTCL ▼ -3.65% at T+20d
SHORT call ✓ call won +3.65% · α vs SPY +8.56% · entry $0.3840 → $0.3700
Next anchor: T+60d in 4w
Last close $0.2650 (close Jun 12) · +30.99% from $0.3840 entry (call sign-flipped)
Entry anchored
Apr 20, 03:43 PM ET
via Databento tick
T+1d
+1.56%
call -1.56% · α -0.54%
$0.3900
settled 8w ago
T+5d
+1.82%
call -1.82% · α -0.74%
$0.3910
settled 7w ago
T+20d
-3.65%
call +3.65% · α +8.56%
$0.3700
settled 28d ago
T+60d
—
call — · α —
—
in 4w

Executive Summary

NetClass Technology Inc, a Cayman Islands holding company with operations in China, Hong Kong, and Singapore, is registering 27 million Class A shares for resale by selling shareholders. The company operates in the B2B smart education sector, with declining revenue and significant regulatory risks related to its China operations and auditor status.

Actionable Insight

Monitor upcoming financial reports for signs of revenue stabilization and watch for developments regarding Chinese regulatory approval for overseas listings, as these factors will significantly impact the stock's viability.

Key Facts

  • Company is a Cayman Islands holding company with operations in China, Hong Kong, and Singapore
  • Revenue declined from $11.1M in 2023 to $9.8M in 2025
  • Company faces significant regulatory risks from Chinese authorities and the HFCAA
  • Selling shareholders are registering 27 million shares for resale, representing 46.6% of outstanding shares
  • Company has a dual-class share structure with CEO holding 66.7% voting power

Financial Impact

Revenue decreased by $1.3M from 2023 to 2025, representing a 11.7% decline

revenueprofitabilitydilution

Risk Factors

  • Chinese regulatory risks could prevent continued listing on U.S. exchanges
  • HFCAA compliance issues could lead to delisting if PCAOB cannot inspect auditors
  • Significant shareholder dilution from resale of 27 million shares

Market Snapshot

Exchange
Nasdaq
Sector
Services-Prepackaged Software

Documents Analyzed

This report is based on 8 SEC documents filed with EDGAR.

DocumentAccession Number
F-1 Filing (Primary)0001104659-26-045532
Document: tm2611887d1_ex5-1.htm0001104659-26-045532
Document: tm2611887d1_exfilingfees.htm0001104659-26-045532
Document: tm2611887d1_ex23-2.htm0001104659-26-045532
Document: tm2611887d1_ex23-1.htm0001104659-26-045532
Document: 0001104659-26-045532-index-headers.html0001104659-26-045532
Document: 0001104659-26-045532-index.html0001104659-26-045532
Document: 0001104659-26-045532.txt0001104659-26-045532
2 reports for NTCL
Performance horizon
Filters
Rows
Reports for NTCL — sortable, filterable
Type Now
Jun 11, 2026
3d ago
6-K
NEUTRAL ★ 3/10
$0.4255 awaiting T+20awaiting T+20—$0.2650 (−37.72%)
Apr 20, 2026
7w ago
F-1
BEARISH ★ 4/10
$0.3840 $0.3700▲ +3.65%▲ +8.56%$0.2650 (+30.99%)
Showing 2 of 2

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