Company: JL
Filing Date: 2025-05-20
Form Type: 20-F/A
Source: 0001213900-25-045507
Chunk: 11

Company: J-Long Group Ltd
Filing Date: 2025-05-20
Form: 20-F/A
Chunk 11
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 or maintain any cash management policies and procedures as of the date of this Annual Report. . Currently, all of our operations are in Hong Kong. Hong Kong is a special administrative region of the PRC and the basic policies of the PRC regarding Hong Kong are reflected in the Basic Law. The arrangement provides Hong Kong with a high degree of autonomy and executive, legislative and independent judicial powers, including that of final adjudication under the principle of “one country, two systems” and a distinct set of laws and regulations. The laws and regulations of mainland China do not currently have any material impact on transfer of cash from the Company to JLHK and Sun Choice or from JLHK and Sun Choice to the Company and the investors in the U.S. As a result of the above, to the extent cash or assets in the business is in our Hong Kong Operating Subsidiary, the funds or assets may not be available to fund operations or for other use outside the PRC or Hong Kong due to oversight on or the imposition of restrictions and limitations by the PRC government on our ability or the ability of our Operating Subsidiary to transfer cash or assets. We currently intend to retain all available funds and future earnings, if any, for the operation and expansion of our business and do not anticipate declaring or paying any dividends in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions contained in any future financing instruments. See “ Risk Factors – Risks Related to Our Ordinary Shares – We do not intend to pay dividends for the foreseeable future”on page 35 of this Annual Report . If we determine to pay dividends on any of our Ordinary Shares in the future, as a holding company, we will be dependent on receipt of funds from our subsidiaries by way of dividend payments. The Company is permitted under the laws of the Cayman Islands and its memorandum and articles of association (as amended from time to time) to provide funding to its subsidiaries through loans or capital contributions. JLHK and Sun Choice are permitted under the laws of Hong Kong to provide funding to the Company through dividend distributions subject to certain statutory requirements of having sufficient profits. 6 Prior Dividends Paid On February 29, 2024, our Board of Directors declared a special cash dividend in the aggregate amount of US$6,000,000 to be