Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 230

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 230
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F-20

  the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pa...  

When the Group has transferred its rights
to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained
the risk and rewards of ownership of the asset. When it has neither transferred nor retained substantially all the risks and rewards of
the asset nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of the Group’s
continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability
are measured on a basis that reflects the rights and obligations that the Group has retained.

Continuing involvement that takes the
form of a guarantee over the transferred asset is measured at the lower of the original amount of the asset and the maximum amount of
consideration that the Group could be required to repay.

Financial instruments - financial
liabilities

Initial recognition and measurement

All financial liabilities are recognized
initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs. The Group’s financial
liabilities include trade payables, other payables, financial liabilities included in accruals and interest-bearing bank borrowings.

Subsequent measurement

After initial recognition, interest-bearing
loans and borrowings are subsequently measured at amortized cost, using the effective interest rate method unless the effect of discounting
would be immaterial, in which case they are stated at cost. Gains and losses are recognized in the income statement when the liabilities
are derecognized as well as through the effective interest rate amortization process.

Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective
interest rate amortization is included in finance costs in the income statement.

Financial instruments - derecognition
of financial liabilities

A financial liability is derecognized
when the obligation under the liability is discharged or cancelled, or expires.

When an existing financial liability
is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as a derecognition of the original liability and a recognition of a new liability,
and the difference between