Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 117

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 117
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 Company, or the Stock Incentive Plan Notice, in February 2012, replacing the previous rules issued by the State
Administration of Foreign Exchange in March 2007. Pursuant to the Stock Incentive Plan Notice and other relevant rules and regulations,
PRC residents participating in stock incentive plan in an overseas publicly-listed company are required to register with the State Administration
of Foreign Exchange or its local branches and follow certain other procedures. Participants of a stock incentive plan who are PRC residents
must conduct the registration and other procedures with respect to the stock incentive plan through a qualified PRC agent, which could
be a PRC subsidiary of the overseas publicly listed company or another qualified institution appointed by the PRC subsidiary. In addition,
the PRC agent is required to update the relevant registration should there be any material change to the stock incentive plan, the PRC
agent or other material changes. The PRC agent must, on behalf of the PRC residents who have the right to exercise the employee stock
options, apply to the State Administration of Foreign Exchange or its local branches for an annual quota for the payment of foreign currencies
in connection with the PRC residents’ exercise of the employee stock options. The foreign exchange proceeds received by the PRC
residents from the sale of shares under the stock incentive plans granted and dividends distributed by the overseas listed companies must
be remitted into the bank accounts in the PRC opened by the PRC agents prior to distribution to such PRC residents.

We have initially adopted an equity incentive plan in 2018, under which
we have the discretion to award incentives and rewards to eligible participants. On January 11, 2022, our Board terminated the initial
equity incentive plan and adopted a new equity incentive plan (the “2022 Plan”). On October 26, 2022, our Board terminated
the 2022 Plan, and adopted the New 2022 EIP. On May 7, 2025, the Board and shareholders of 65% of the outstanding capital stock of the
Company, approved and adopted the Plan Amendment. We have advised the recipients of awards under our equity incentive plan to handle relevant
foreign exchange matters in accordance with the Stock Incentive Plan Notice. However, we cannot guarantee that all employee-awarded equity-based
incentives can successfully register with SAFE in full compliance with the Stock Incentive Plan Notice. See “ RiskFactors - Risks
Related to Doing Business in China -

C.