Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 109

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 109
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 promotion fees paid to consultants for overseas sales, wages and salaries for our sales and marketing personnel and outbound transportation expenses. Our selling and marketing expenses increased by 24.7% to $2,170,570 for the fiscal year ended March 31, 2023, from $1,740,278 for the fiscal year ended March 31, 2022. We paid commissions to our overseas consultants who are mainly stationed in non-Asian countries with respect to non-Asia sales. We incurred higher commissions in fiscal year 2023 due to an increase in non-Asia sales. In line with inflation and the market trend, we also increased salaries to our sales and marketing department to keep our Company competitive and attractive to prospective employees. General and Administrative Expenses General and administrative expenses are mainly comprised of staff costs and directors’ remuneration, travel and transportation expenses, depreciation expenses, office expenses, bank charges and other miscellaneous expenses. Our general and administrative expenses increased by 3.2% to $1,635,222 for the fiscal year ended March 31, 2023, from $1,585,268 for the fiscal year ended March 31, 2022. The increase was mainly due to a higher number of sale and lease-back agreements entered into for warehouse, office and warehouse/office space, which caused an increase in lease expenses. Other Income/Expenses and Currency Exchange Gain/Loss We recorded other income and exchange gain of $1,656,640 for the fiscal year ended March 31, 2023, as compared to other expenses and currency exchange loss of $94,488 for the fiscal year ended March 31, 2022. Other income for the fiscal year ended March 31, 2023 was mainly due to a foreign exchange gain of $443,831 due to the fluctuation of the Renminbi, an increase of sundry income of $177,356 derived mainly from a subsidy from the Employment Support Scheme launched by the Hong Kong government and a gain from disposal of property of $987,532. Other losses for the year ended March 31, 2022 was mainly due to a foreign exchange loss of approximately $156,000 as the US dollar appreciated, while such loss was partly offset by sundry income. Interest Expense Our interest expenses increased by 78.6% to $135,616 for the fiscal year ended March 31, 2023, from $75,919 for the fiscal year ended March 31, 2022. The increase