Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 200

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 200
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 |           | 126,208 |     |      | 638,342 |
| Non Current Portion    |     |           |       - |     |      |  11,252 |
| Current Portion        |     |           | 126,208 |     |      | 627,090 |
|                        |     |           | 126,208 |     |      | 638,342 |

| * | The balance mainly due to the prepaid for the consulting fees 
 and it will be utilized subsequently.                         |

7. Leases The Company leases office and warehouse spaces for varying periods in Hong Kong. As the majority of the leases do not provide an implicit rate, the Company used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company’s lease agreements do not contain any material guarantees or restrictive covenants. The Company does not have any sublease activities. Short-term leases, defined as leases with initial term of 12 months or less, are not recorded on the Consolidated Balance Sheets. The most significant assets in the Company’s leasing portfolio relate to real estate. For purposes of calculating lease liabilities for such leases, the Company have combined lease and non-lease components. F - 23 J-LONG GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED MARCH 31, 2024, 2023 AND 2022 7. Leases(cont.)

The Company’s rights-of-use
assets and lease liabilities recognized in the Consolidated Balances Sheets consist of the following:

|                                           |     |     As of 
 March 31, |         |     |      |        |
|                                           |     |      2023 |         |     | 2024 |        |
|                                           |     |       USD |         |     |  USD |        |
| Rights-of-use assets – operating lease    |     |           | 447,475 |     |      | 85,221 |
| Operating lease liabilities – current     |     |           | 366,809 |     |      | 88,139 |
| Operating lease liabilities – non-current |     |           |  88,139 |     |      |      - |
|                                           |     |           | 454,948 |     |      | 88,139 |

The component of lease expenses
are as follows:

|                      |     |     As of 
 March 31, |