Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 106

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 106
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,253,752 for the fiscal year ended March 31, 2023 in line with our decrease in revenues. Gross Profit Our gross profit decreased by 32% to $6,797,258 for the fiscal year ended March 31, 2024 compared to $10,038,645 for the fiscal year ended March 31, 2023. Our gross profit margin decreased to 24% for the fiscal year ended March 31, 2024 as compared to 26% for 2023, essentially remaining stable. Selling and Marketing Expenses Selling and marketing expenses are mainly comprised of marketing and promotion fees paid to consultants for overseas sales, commission expenses, wages and salaries for our sales and marketing personnel and outbound transportation expenses. Our selling and marketing expenses decreased by 5% to $2,068,502 as compared to $2,170,570 for the fiscal year ended March 31, 2023. We paid commissions to our overseas consultants who are mainly stationed in non-Asian countries with respect to non-Asia sales. As non-Asia sales decreased, we incurred lower commissions in fiscal year 2024 compared to fiscal year 2023. In addition, payroll expenses and transportation expenses decreased in line with the sales decrease. General and Administrative Expenses General and administrative expenses are mainly comprised of staff costs and directors’ remuneration, travel and transportation expenses, depreciation expenses, lease expenses, office expenses, bank charges, professional fees, audit fees and other miscellaneous expenses. Our general and administrative expenses increased by 166% to $4,348,458 from $1,635,222 for the fiscal year ended March 31, 2023 primarily due to increases in officers’ and directors’ remuneration, which together account for approximately 69% of general and administrative expenses, and professional fees which account for approximately 4% of general and administrative expenses. All three of these increases were due to our initial public offering, which closed in January 2024. Other Income/expenses and currency exchange gain/loss We recorded an other income and exchange gain of $676,154 for the fiscal year ended March 31, 2024, as compared to an other income and exchange gain of $1,656,640 for the fiscal year ended March 31, 2023. Other income and exchange gain for the fiscal year ended March 31, 2024 was mainly comprised of a foreign exchange gain of $503,101 and rental income of $110,128. Other income and exchange gain