Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 248

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 248
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,000shares at $32.8per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split) to employees for their compensation.

On December 6, 2022, the Company issued249,999shares at $32.0per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split) to employees for their compensation.

On December 19, 2022, the Company issued250,000shares at $28.4per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split) to employees for their compensation.

On September 20, 2022, the Company cancelled163shares at $35.2per share (adjusted to reflect1:10reverse stock split and1:4reverse stock split).

During 2022, all common shares were
issued to employees, Directors and executives for their compensations and there is no vesting period. The fair value was determined based
on the market price on the date of grant. All compensations are recorded as general and administrative expenses with a corresponding increase
in equity.

No shares were issued during year 2023.

On August 1, 2024, the Company issued25,000shares at $5.88per share (adjusted to reflect1:4reverse stock split) to a service provider for in lieu of its compensation.

In September and October 2024, the Company
issued706,250shares at $1.2per share (adjusted to reflect1:4reverse stock split) to certain preferred E shares holders to satisfy
their conversion requests.

  29.      OTHER RESERVE  

Statutory surplus reserve

As stipulated by the relevant laws and
regulations applicable to China’s foreign investment enterprises, the Company’s PRC subsidiaries are required to maintain
a statutory surplus reserve which is non-distributable. Appropriations to such reserve are made out of net profit after tax of the statutory
financial statements of the PRC subsidiaries at the amounts determined by their respective boards of directors annually up to50% of authorized
capital, but must not be less than10% of the net profit after tax.

The statutory surplus reserve can be
used for making up losses of the group entities in Mainland China, if any. The statutory surplus reserve may also be used to increase
capital or to meet unexpected or future losses. The statutory surplus reserve is non-distributable other than upon liquidation.

The statutory surplus reserve of the