Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 185

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 185
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oted    
 Prices in 
 Active    
 Markets   
 (Level 1) 
 USD       |       |     | Significant 
 Other       
 Observable  
 Inputs      
 (Level 2)   
 USD         |   |     | Significant  
 Unobservable 
 Inputs       
 (Level 3)    
 USD          |   |
|:-----------------------------------------------|:----|:-----------|------:|:----|:----------|------:|:----|:------------|:--|:----|:-------------|:--|
| Investment in marketable debt securities       |     |            | 2,275 |     |           | 2,275 |     |             | — |     |              | — |
| Total investment in marketable debt securities |     |            | 2,275 |     |           | 2,275 |     |             | — |     |              | — |

There were no transfers of
marketable debt securities between Level 1, Level 2, and Level 3 during the years ended March 31, 2023 and 2024.

Related Parties

The Company adopted ASC 850,
Related Party Disclosures, for the identification of related parties and disclosure of related party transactions.

F - 12 J-LONG GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED MARCH 31, 2024, 2023 AND 2022 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(cont.) Cash and Cash Equivalents Cash and cash equivalents consist of petty cash on hand and cash held in banks, which are highly liquid and have original maturities of three months or less and are unrestricted as to withdrawal or use. The Company maintains all bank accounts in Hong Kong. Cash balances in bank accounts in Hong Kong are protected under Deposit Protection Scheme in accordance with the Deposit Protection Scheme Ordinance. The maximum protection is up to HK$ 500,000per depositor per Scheme member, including both principal and interest. Restricted cash The restricted cash balance as of March 31, 2024 was USD$ 1million and relates to amounts held in escrow accounts to secure post-closing indemnification obligations of the Company pursuant to the agreement between underwriter and legal adviser respectively. The escrow account was held in The Hong Kong and Shanghai Banking Corporation Limited for 12 month period following the closing date January 26, 2024 of the listing. Accounts Receivable Net Accounts receivable represent trade receivable and are recognized