Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 157

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 10
Chunk 157
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purpose and not with the effect of constituting a fraud on the minority shareholders.

Dissolution;
Winding Up

Under
the Delaware General Corporation Act, unless the board of directors approves the proposal to dissolve, dissolution must be approved by
shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors
may it be approved by a simple majority of the corporation’s outstanding shares. Delaware law allows a Delaware corporation to
include in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board.
Under Cayman Islands law, a company may be wound up by either an order of the courts of the Cayman Islands or by a special resolution
of its members or, if the company is unable to pay its debts as they fall due, by an ordinary resolution of its members. The court has
authority to order winding up in a number of specified circumstances including where it is, in the opinion of the court, just and equitable
to do so.

Under
the Companies Act of the Cayman Islands and our Articles of Association, our company may be dissolved, liquidated or wound up by the
vote of holders of two-thirds of our shares voting at a meeting.

Variation
of Rights of Shares

Under
the Delaware General Corporation Act, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding
shares of such class, unless the certificate of incorporation provides otherwise. Under Cayman Islands law and our Articles of Association,
if our share capital is divided into more than one class of shares, we may vary the rights attached to any class only with the sanction
of a special resolution passed at a general meeting of the holders of the shares of that class.

Amendment
of Governing Documents

Under
the Delaware General Corporation Act, a corporation’s governing documents may be amended with the approval of a majority of the
outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. As permitted by Cayman Islands law,
our Amended and Restated Memorandum and Articles of Association may only be amended by special resolution.

Material
Contracts

Our
material contracts, other than those entered into in the ordinary course of business, are described in Item 4, Item 6 and Item 7 or elsewhere
in this Annual Report.

Exchange
Controls

There
are no foreign exchange controls or foreign exchange regulations under current applicable laws of the various places of incorporation
of