Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 250

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 250
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 Less: present value discount                               ( 290  
  Total operating lease liabilities      $                  11,940  

F-40

  31.      BORROWINGS  

A reconciliation of liabilities arising from financing
activities excluding bank overdrafts is as follows::

                         January 1,      Cashflows                                                                     
  Lease liabilities                                                                                                    
  - current                                             ( 3,038        7,354      166            2,995          7,477  
  - non-current                                         -              7,570      -            ( 3,107          4,463  
  Bank borrowings                                       1,653,762      -          13,895      ( 23,664      1,643,993  

  32.      RISK MANAGEMENT AND FAIR VALUES  

  Capital risk  

The Group manages its capital to ensure
that entities in the Group will be able to continue as a going concern while maximizing the return to owners through the optimization
of the debt and equity balance. The Group’s overall strategy remains unchanged during the year.

The capital structure of the Group
consisted of borrowings net of bank balances and cash, and equity attributable to owners of the Company comprising issued share capital
and various reserves.

The directors of the Company review
the capital structure regularly. As part of this review, the Group considers the cost of capital and the risks associated with each class
of capital, and will balance its overall capital through the payment of dividends, new share issues as well as the issue of new debt or
the redemption of existing debt.

The Group monitors capital using the
Gearing Ratio, which is net debt divided by total equity. Net debt represents borrowings less cash and cash equivalents. The Company met
its objective by minoring borrowing activities.

The Company and its subsidiaries are
not subject to externally imposed capital requirements.

  Total borrowing                        1,643,993               -  
  Less: cash and cash equivalents      ( 1,184,456       ( 407,311  
  Net debt                                 459,537       ( 407,311  
  Total equity                          20,902,536      15,154,695  
  Total capital                         21,362,073      14,747,384  
  Gearing ratio                               2.20             ( 3  

  Financial risk  

Financial risk management objectives
and policies

The Group’s major financial instruments
include trade and other receivables, related parties