Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 253

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 253
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As at December 31, 2023

                                   Within      Over            Total  
                                   1 year      1 year                 
 ──────────────────────────────────────────────────────────────────────
  Trade and other payables      2,235,988                  2,235,988  
  Related parties payables      3,330,518                  3,330,518  
  Total                         5,566,506                  5,566,506  

  Fair value  

The fair value of financial assets
and financial liabilities is determined in accordance with generally accepted pricing models based on discounted cash flow analysis.

The following table presents the fair
value of the Group’s financial instruments measured at the end of the reporting period on a recurring basis, categorized into the
three-level fair value hierarchy as defined in IFRS 13, Fair Value Measurement. The level into which a fair value measurement is classified
is determined with reference to the observability and significance of the inputs used in the valuation technique as follows:

  Level 1 valuations: Fair value measured using only Level 1 inputs i.e. unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date.  

  Level 2 valuations: Fair value measured using Level 2 inputs i.e. observable inputs which fail to meet Level 1, and not using significant unobservable inputs. Unobservable inputs are inputs for...  

  Level 3 valuations: Fair value measured using significant unobservable inputs.  

During the years ended December 31,
2024 and 2023, there were no transfers between Level 1 and Level 2, or transfers into or out of Level 3. The Group’s policy is to
recognize transfers between levels of fair value hierarchy as at the end of the reporting period in which they occur.

Valuation techniques and inputs
used in Level 2 fair value measurements

The fair value of financial assets
in Level 2 is determined by the model as disclosed in note 27.

The directors of the Company consider
that the carrying amounts of financial assets and financial liabilities recorded at amortized cost approximate their fair values.

  33.      COMMITMENTS AND CONTINGENCIES  

From time to time, the Company is subject
to certain legal proceedings, claims and disputes that arise in the ordinary course of business. Although the outcomes of these legal
proceedings cannot be predicted, the Company does not believe these actions, in the aggregate, will have a material adverse impact on