NetClass Technology (Withdrawn)

General Information

(Note: NetClass Technology withdrew its  2022 IPO plans in a letter sent to the SEC on March 26, 2024. On that same date, NetClass Technology filed an F-1 for a new IPO.)

We offer professional education software and services in China. (Incorporated in the Cayman Islands) 

We conduct business primarily through our wholly owned subsidiaries, NetClass China, in the People’s Republic of China, or the PRC. Our primary office is located in Shanghai, where we serve a large customer base throughout PRC. We are a B2B (Business-to-Business) smart education specialist, providing IT solutions to schools, training institutions, corporations, government agencies (mainly the Shanghai Municipal Education Commission), and other institutions or corporate customers. We offer SaaS subscription services and application software development. Our solutions modules include teaching management, campus management, online teaching, online examination, epidemic prevention and control, EDC (Education Chain) blockchain system, and lecturer evaluation services, etc. Our mission is to provide high-quality and reliable products to our customers to maintain sustainable business growth over the long term.

We believe we are one of the leading online education brands in China’s online education software industry. We have advantages in customized design, easy-to-use interface, knowledge of the industry and market, and our experienced management. In addition, we believe we are the pioneer in applying blockchain technology to online education and related area. For more details, see “– Our Products and Services – EDC (Education Credit) blockchain system.” Our B2B business revenues were $9,257,607 and $11,557,513 during the fiscal years ended Sept. 30, 2022, and 2021, respectively.

**Note: Net income and revenue are for the fiscal year that ended Sept. 30, 2022.

(Net Class Technology Inc. filed its F-1 on March 31, 2023, and disclosed terms for its micro-cap IPO: 3.75 million shares at $4.00 to $5.00 to raise $16.88 million. The company submitted confidential IPO documents to the SEC on June 21, 2022.) 

Industry: China - Professional Education Software & Services
Employees: 35
Founded: 2003
Contact Information
Address 6F, Building A 1188 Wan Rong Road Shanghai, People’s Republic of China 200436
Phone Number +86-021-61806588
Web Address
View Prospectus: NetClass Technology (Withdrawn)
Financial Information
Market Cap
Revenues $9.26 mil (last 12 months)
Net Income $0.13 mil (last 12 months)
IPO Profile
Symbol NTCL
Exchange NASDAQ
Shares (millions): 375.0
Price range $4.00 - $5.00
Est. $ Volume $16.9 mil
Manager / Joint Managers Revere Securities
Expected To Trade:
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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