Company: JL
Filing Date: 2025-05-20
Form Type: 20-F/A
Source: 0001213900-25-045507
Chunk: 207

Company: J-Long Group Ltd
Filing Date: 2025-05-20
Form: 20-F/A
Chunk 207
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’s lease agreements do not contain any material guarantees or restrictive covenants. The Company does not have any sublease activities. Short-term leases, defined as leases with initial term of 12 months or less, are not recorded on the Consolidated Balance Sheets. The most significant assets in the Company’s leasing portfolio relate to real estate. For purposes of calculating lease liabilities for such leases, the Company have combined lease and non-lease components. F - 23 J-LONG GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED MARCH 31, 2024, 2023 AND 2022 7. Leases(cont.)

The Company’s rights-of-use
assets and lease liabilities recognized in the Consolidated Balances Sheets consist of the following:

|                                           |     |     As of 
 March 31, |         |     |      |        |
|                                           |     |      2023 |         |     | 2024 |        |
|                                           |     |       USD |         |     |  USD |        |
| Rights-of-use assets – operating lease    |     |           | 447,475 |     |      | 85,221 |
| Operating lease liabilities – current     |     |           | 366,809 |     |      | 88,139 |
| Operating lease liabilities – non-current |     |           |  88,139 |     |      |      - |
|                                           |     |           | 454,948 |     |      | 88,139 |

The component of lease expenses
are as follows:

|                      |     |     As of 
 March 31, |         |     |      |         |
|                      |     |      2023 |         |     | 2024 |         |
|                      |     |       USD |         |     |  USD |         |
| Operating lease cost |     |           | 311,708 |     |      | 379,510 |

Other information about the
Company’s leases is as follows:

|                                       |     |     As of 
 March 31, |           |   |     |      |            |   |
|                                       |     |      2023 |           |   |     | 2024 |            |   |
|                                       |     |       USD |           |   |     |  USD |            |   |
| Weighted-average remaining lease term |     |           | 1.2