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Northann Corp. Announces Compliance with NYSE Guidelines on Audit Opinion Disclosure

1. NCL received a going concern qualification in its 2024 audit opinion. 2. This qualification signals potential financial distress, involving increased scrutiny. 3. NCL is a leader in 3D printing technologies for construction materials. 4. The announcement complies with NYSE regulations but indicates investor uncertainty. 5. NCL has over 60 patents, showcasing innovation in the building materials sector.

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FAQ

Why Very Bearish?

A going concern qualification typically indicates financial instability, which raises red flags for investors, reminiscent of past cases where such warnings led to significant stock price declines.

How important is it?

The going concern qualification can prompt immediate investor concern, greatly affecting NCL's stock performance and trading behavior.

Why Short Term?

Immediate investor reactions to financial health disclosures can influence stock price quickly, similar to short-term reactions in companies like Sprint when they faced audit qualifications.

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NCLSBUXTSLA
Fort Lawn, SC, July 02, 2025 (GLOBE NEWSWIRE) -- Northann Corp. (NYSE: NCL) (“Northann” or the “Company”) announced that, as disclosed in its annual report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the Securities and Exchange Commission on July 1, 2025 and amended on July 2, 2025, the audit opinion for such fiscal year contained a going concern qualification from the Company's independent registered public accounting firm. This announcement is being made solely to comply with the NYSE American Company Guide Sections 401(h) and 610(b), which require separate disclosure of receipt of an audit opinion that contains a going concern qualification. This announcement does not represent any change or amendment to the Company's 2024 audited financial statements or to its 2024 annual report on Form 10-K. About Northann Corp. Founded in 2022 and headquartered in Fort Lawn, South Carolina, Northann Corp. is a leader in additive manufacturing and 3D printing technologies for the building materials industry. Through its flagship brand, Benchwick, the Company provides innovative flooring, decking, and other construction products. Northann boasts a robust portfolio of over 60 granted or pending patents, underscoring its dedication to innovation and sustainability. Forward Looking Statements This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially due to several factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, Northann’s results may differ materially from its expectations and projections. While Northann may elect to update these forward-looking statements at some point in the future Northann specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Northann’s assessments of any date after the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements. For further information, please contact: Investor RelationsNorthann Corp.ir@northann.com 916-573-3803

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