Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 103

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 103
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 of our own, and we conduct our operations primarily in Hong Kong through J-Long Limited (“JLHK”), our sole Operating Subsidiary. As a result of our corporate structure, our ability to pay dividends may depend upon dividends paid by JLHK. If our existing Operating Subsidiary JLHK or any newly formed ones incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us. Our management monitors the cash position of the Company and our Operating Subsidiary regularly and prepares budgets on a monthly basis to ensure it has the necessary funds to fulfill its obligations for the foreseeable future and to ensure adequate liquidity. In the event that there is a need for cash or a potential liquidity issue, it will be reported to our Chief Financial Officer and subject to approval by our board of directors. The ability of the Company to transfer cash to its subsidiaries is subject to the following: The Company is permitted under the laws of the Cayman Islands and its memorandum and articles of association (as amended from time to time) to provide funding to our subsidiaries incorporated in the BVI and Hong Kong through loans or capital contributions. The Company’s subsidiaries formed under the laws of the BVI, Stratum Star and Alpine Eagle, are permitted under the laws of the BVI to provide funding to our Hong Kong Operating Subsidiary The Operating Subsidiary is subject to certain restrictions laid down in the BVI Business Companies Act 2004 (as amended) and memorandum and articles of association of the relevant Company’s subsidiaries incorporated under the laws of the BVI. The ability of Stratum Star and Alpine Eagle, the direct subsidiaries of the Company, to transfer cash to the Company is subject to the following: according to the BVI Business Companies Act 2004 (as amended), Stratum Star and Alpine Eagle may make dividends distribution to the extent that immediately after the distribution, the value of the company’s assets exceeds its liabilities and that such company is able to pay its debts as they fall due. The ability of JLHK to transfer cash to Alpine Eagle and Sun Choice to Stratum Star is subject to the following: according to the Companies Ordinance of Hong Kong, JLHK and Sun Choice may only make a distribution out of profits available for distribution. We did not adopt or maintain any cash management policies and procedures as of the date of this Annual Report. Currently, all of our operations are in Hong Kong. Hong Kong is a special administrative region of the PRC and the basic policies