On October 2, 2023, the Company entered into an agreement with an independent third-party supplier in Hong Kong to develop a vertical large language model (LLM) for an English learning system. The supplier was contracted to perform pre-training and fine-tuning of an open-source AI large language framework model for a total fee of $2,000,000, with $1,900,000 paid in 2023. The supplier provided the computing power required for training. NetClass HK retains ownership of all resulting intellectual property. The trained model was deployed successfully in January 2024.
The Company offers application development services through its subsidiaries NetClass China and NetClass HK to various customers, including the Municipal Education Commission, Shanghai Open University, Shanghai Herocheer Technology Co., Ltd., Gallop Trading Ltd, and Nurbr International Limited. Beginning in 2025, the Company started providing AI computing power support services by procuring computing capacity from third-party providers to deliver computing services to its customers.
Netclass Technology Inc's Comment on Supply Chain
On October 2, 2023, the Company entered into an agreement with an independent third-party supplier in Hong Kong to develop a vertical large language model (LLM) for an English learning system. The supplier was contracted to perform pre-training and fine-tuning of an open-source AI large language framework model for a total fee of $2,000,000, with $1,900,000 paid in 2023. The supplier provided the computing power required for training. NetClass HK retains ownership of all resulting intellectual property. The trained model was deployed successfully in January 2024.
The Company offers application development services through its subsidiaries NetClass China and NetClass HK to various customers, including the Municipal Education Commission, Shanghai Open University, Shanghai Herocheer Technology Co., Ltd., Gallop Trading Ltd, and Nurbr International Limited. Beginning in 2025, the Company started providing AI computing power support services by procuring computing capacity from third-party providers to deliver computing services to its customers.
Sources:
Netclass Technology Inc's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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