Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 61

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 3
Chunk 61
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 Although the states are pre-empted from regulating the sale of our securities, this statute
does allow the states to investigate companies if there is a suspicion of fraud and, if there is a finding of fraudulent activity, then
the states can regulate or bar the sale of covered securities in a particular case. Further, if we were no longer listed on Nasdaq, our
securities would not be covered securities and we would be subject to regulations in each state in which we offer our securities. See
“ Risk Factors - We may not be able to maintain compliance with Nasdaq’s continued listing requirements,” below.

We
may not be able to maintain compliance with Nasdaq’s continued listing requirements.

On
May 13, 2024, we received the Nasdaq Notification stating that our Ordinary Shares had failed to maintain a minimum bid price of $1.00
over the last 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2) (the “ Minimum Bid Requirement Listing
Rule”). Receipt of the Nasdaq Notification does not result in the immediate delisting of our Ordinary Shares and has no immediate
effect on the listing or the trading of our Ordinary Shares on the Nasdaq Global Market.

Pursuant
to Nasdaq Listing Rule 5810(c)(3)(A), we had a compliance period of 180 calendar days from the date of the Nasdaq Notification, or until
November 11, 2024, to regain compliance with the Minimum Bid Requirement Listing Rule. In the event that we do not regain compliance
by November 11, 2024, we may be eligible for additional time to qualify.

On
January 6, 2025, we received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC stating that the Company
has regained compliance with Nasdaq’s Minimum Bid Requirement Listing Rule, and the Company is therefore in compliance with the
Nasdaq Capital Market’s listing requirements. Accordingly, the Company’s ordinary shares will continue to be listed on The
Nasdaq Capital Market and Nasdaq considers the matter closed.

The
market price of our Ordinary Shares could be negatively affected by sales of substantial amounts of our Ordinary Shares in the public
markets.

As of the date of this Annual
Report, Mr. Danny Wong, the Chairman of our Board of Directors, beneficially owns an aggregate of 1,809,000 Ordinary Shares, representing
approximately 48.09% of our total issued share capital.

Further,
all