Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 190

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 18
Chunk 190
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 could significantly disrupt the Company’s operations.

Foreign currency translation
and transaction and Convenience translation

The Company’s reporting
currency is the USD. The Company’s operations are principally conducted in Hong Kong and Vietnam where Hong Kong
dollar and Vietnamese dong are the functional currency.

Transactions denominated
in other than the functional currencies are re-measured into the functional currency of the entity at the exchange rates prevailing on
the transaction dates. Monetary assets and liabilities denominated in currencies other than the applicable functional currencies are
translated into the functional currency at the prevailing rates of exchange at the balance date. The resulting exchange differences are
reported in the statements of operations and comprehensive income.

The exchanges rates used
for translation from Hong Kong dollar to USD was7.8000, a pegged rate determined by the linked exchange rate system in Hong Kong.
This pegged rate was used to translate Company’s balance sheets, income statement items and cash flow items for 2025, 2024 and
2023.

For translation of Vietnamese
Dong (“ VND”) into USD, the exchange rate used as of March 31, 2025, was25,575VND per USD. was applied to translate the balance
sheet of J-Long Trims Vietnam Co., Ltd. as of that date. The exchange rate of25,266VND per USD, representing the average rate for
the period, was applied to translate the income statement and cash-flow items of J-Long Trims Vietnam Co., Ltd. for the year ended March
31, 2025.

F-9

J-LONG GROUP LIMITED

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(cont.)

Concentrations and risks

Concentration

Significant customers and
suppliers are those that account for greater than 10% if the Company’s revenue and purchase, respectively.

During the years ended
March 31, 2025, 2024 and 2023, there wasone, nilandnilcustomer generated revenue which accounted for over 10% of the total revenue
generated for that year, respectively.

                      As of                                                  
                  March 31,                                                  
                       2023               2024               2025            
 ─────────────────────────────────────────────────────────────────────────────
  Customer D                     9.7                4.5                10.4  

As of March 31, 2025 and
2024, there were one and one customer which accounted for over 10%