NETCLASS TECHNOLOGY INC
Description
NetClass Technology Inc, through its subsidiaries, offers IT solutions to schools, corporations, other institutions, and corporate customers in the People's Republic of China. The company's solutions include teaching management, campus management, data storage, computing system, online teaching, blockchain system, AI assisted learning system, application software development, and SaaS subscription services. It also offers IT consulting and data analysis solutions. In addition, the company operates mobile learning platform, EDC blockchain system, lecturer evaluation system, English writing checking system, and artificial language intelligence assisted learning systems. NetClass Technology Inc was incorporated in 2022 and is based in Shanghai, the People's Republic of China. NetClass Technology Inc operates as a subsidiary of Dragonsoft Holding Limited.
About
CEO
Dr. Jianbiao Dai
Employees
31
Instrument type
Common Stock
Sector
Technology
Industry
Software - Application
MIC code
XNCM
Address
Building A, Dragonsoft IT Park, Shanghai, 200436, China
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Summary
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Earnings estimate
| Number of analysts | — | — | — | — |
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| Average estimate | — | — | — | — |
| Low estimate | — | — | — | — |
| High estimate | — | — | — | — |
| Last year EPS | — | — | — | — |
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Growth estimates
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Next 5 years (per annum)
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Past 5 years (per annum)
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Income statement
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Fiscal date | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Total reported revenue | 11.09M | 9.26M | 11.56M |
| Cost of revenue | 8.73M | 6.22M | 7.58M |
| Gross profit | 2.36M | 3.04M | 3.98M |
| Operating expense | |||
| Research & development | 567,809 | 828,311 | 406,754 |
| Selling general and admin | 1.41M | 2.16M | 2.36M |
| Other operating expenses | — | — | — |
| Operating income | 386,703 | 48,370 | 1.21M |
| Non operating interest income | |||
| Income | — | — | — |
| Expense | 4,558 | 8,572 | 11,911 |
| Other income expense | 37,415 | 24,353 | 34,286 |
| Pretax income | 419,560 | 64,151 | 1.23M |
| Tax provision | 257,331 | -68,536 | 163,481 |
| Net income | 162,229 | 132,687 | 1.07M |
| Basic EPS | — | 0.01 | 0.06 |
| Diluted EPS | — | 0.01 | 0.06 |
| Basic average shares | — | 18.75M | 18.75M |
| Diluted average shares | — | 18.75M | 18.75M |
| EBITDA | 558,904 | 191,287 | 1.37M |
| Net income from continuing op. | 162,229 | 132,687 | 1.07M |
| Minority interests | — | — | 41 |
| Preferred stock dividends | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Fiscal date | 2023-09-30 | 2022-09-30 | 2021-09-30 |
| Total assets | 6.54M | 4.35M | 4.22M |
| Current assets | |||
| Cash | 524,601 | 208,206 | 1.04M |
| Cash equivalents | — | — | — |
| Cash and cash equivalents | 524,601 | 208,206 | 1.04M |
| Other short term investments | — | — | — |
| Accounts receivable | 2.29M | 3.37M | 2.51M |
| Other receivables | 1.90M | — | — |
| Inventory | — | — | 162,177 |
| Prepaid assets | 1.06M | 94,573 | 86,974 |
| Restricted cash | — | 93,499 | — |
| Assets held for sale | — | — | — |
| Hedging assets | — | — | — |
| Other current assets | 440,527 | 37,936 | 34,034 |
| Non current assets | |||
| Properties | 630,247 | 590,759 | 652,104 |
| Land and improvements | — | — | — |
| Machinery furniture equipment | 40,591 | 41,639 | 45,963 |
| Construction in progress | — | — | — |
| Leases | — | — | — |
| Accumulated depreciation | -567,606 | -486,928 | -416,906 |
| Goodwill | — | — | — |
| Investment properties | — | — | — |
| Financial assets | — | — | — |
| Intangible assets | — | — | — |
| Investments and advances | — | — | — |
| Other non current assets | 123,371 | 184,785 | 100,103 |
| Total liabilities | 2.10M | 1.94M | 1.69M |
| Current liabilities | |||
| Accounts payable | 1.15M | 1.01M | 1.01M |
| Accrued expenses | 236,462 | 292,794 | 102,686 |
| Short term debt | 41,650 | 130,938 | 98,552 |
| Deferred revenue | 184,222 | 302,433 | 413,012 |
| Tax payable | 288,450 | 92,721 | 70,389 |
| Pensions | — | — | — |
| Other current liabilities | — | — | — |
| Non current liabilities | |||
| Long term debt | 12,706 | — | — |
| Provision for risks and charges | — | — | — |
| Deferred liabilities | — | — | — |
| Derivative product liabilities | — | — | — |
| Other non current liabilities | — | — | — |
| Shareholders equity | |||
| Common stock | 3,940 | 3,750 | 3,750 |
| Retained earnings | -164,809 | -327,038 | -445,024 |
| Other shareholders equity | -217,304 | -187,865 | 45,535 |
| Total shareholders equity | 4.44M | 2.41M | 2.53M |
| Additional paid in capital | 4.82M | 2.92M | 2.92M |
| Treasury stock | — | — | — |
| Minority interest | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Operating Activities | |||
| Net Income | 162,229 | 132,687 | 1.07M |
| Depreciation | 134,786 | 118,564 | 130,831 |
| Deferred Taxes | 58,716 | -102,129 | 99,758 |
| Stock-Based Compensation | — | — | — |
| Other Non-Cash Items | 222,361 | — | — |
| Accounts Receivable | 1.08M | -1.21M | -714,033 |
| Accounts Payable | 174,802 | 107,335 | -528,422 |
| Other Assets & Liabilities | -153,060 | 81,612 | 6,740 |
| Operating Cash Flow | 1.68M | -875,819 | 61,379 |
| Investing Activities | |||
| Capital Expenditures | — | — | -3,482 |
| Net Intangibles | — | — | 23,055 |
| Net Acquisitions | — | — | — |
| Purchase of Investments | — | — | — |
| Sale of Investments | — | — | — |
| Investing Cash Flow | — | — | -3,482 |
| Financing Activities | |||
| Long-Term Debt Issuance | — | — | — |
| Long-Term Debt Payments | -132,035 | -132,429 | -97,600 |
| Other Financing Charges | -20,878 | -170,791 | 67,372 |
| Financing Cash Flow | -284,948 | -258,007 | -127,828 |
| Other Cash Details | |||
| End Cash Position | 524,601 | 301,705 | 1.04M |
| Income Tax Paid | 578 | 1,621 | — |
| Interest Paid | 5,781 | 9,683 | 13,993 |
| Free Cash Flow | 391,876 | -571,449 | 742,321 |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
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Article
NETCLASS TECHNOLOGY INC Announces Full Exercise of Over-Allotment Option
SHANGHAI and HONG KONG, Jan. 03, 2025 (GLOBE NEWSWIRE) -- NETCLASS TECHNOLOGY INC (the “Company” or “NETCLASS”), a leading B2B smart education IT solutions provider with offices in Shanghai, Hong Kong, and Singapore, today announced that the underwriters of its previously announced initial public offering (the “Offering”) have exercised their over-allotment option (the “Over-Allotment Option”) in full to purchase an additional 270,000 Class A ordinary shares at the public offering price of $5.00 per share, resulting in additional gross proceeds of $1.35 million. After giving effect to the full exercise of the Over-Allotment Option, the total number of ordinary shares sold by the Company in the Offering increased to 2,070,000 Class A ordinary shares and the gross proceeds increased to $10.35 million, before deducting underwriting discounts and other related expenses. The Over-Allotment Option closing date was January 03, 2025. Shares of the Company's stock began trading on the Nasdaq Capital Market under the symbol “NTCL” on December 13, 2024.
Jan 3, 2025
Article
NETCLASS TECHNOLOGY INC. Announces Closing of $9 Million Initial Public Offering
SHANGHAI and HONG KONG, Dec. 16, 2024 (GLOBE NEWSWIRE) -- NETCLASS TECHNOLOGY INC. (the “Company” or “NETCLASS”), a leading B2B smart education IT solutions provider with offices in Shanghai, Hong Kong, and Singapore, today announced the closing of its initial public offering (the “Offering”) of 1,800,000 Class A ordinary shares at a public offering price of $5.00 per ordinary share, for total gross proceeds of $9,000,000, before deducting underwriting discounts, commissions, and other related expenses.
Dec 16, 2024
Article
NETCLASS TECHNOLOGY INC. Announces Pricing of Initial Public Offering
SHANGHAI and HONG KONG, Dec. 13, 2024 (GLOBE NEWSWIRE) -- NETCLASS TECHNOLOGY INC. (the “Company” or “NETCLASS”), a leading B2B smart education IT solutions provider with offices in Shanghai, Hong Kong, and Singapore, today announced the pricing of its initial public offering (the “Offering”) of 1,800,000 Class A ordinary shares at a public offering price of $5.00 per ordinary share, for total gross proceeds of $9,000,000, before deducting underwriting discounts, commissions, and other related expenses. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on December 13, 2024, under the ticker symbol “NTCL.”
Dec 13, 2024
