Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 53

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 53
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 internal control over financial reporting is not effective. Moreover, even if our management concludes in the future that our internal control over financial reporting is effective, our independent registered public accounting firm, after conducting its own independent testing, may issue an adverse report if it is not satisfied with our internal control or the level at which our control is documented, designed, operated or reviewed, or if it interprets relevant requirements differently from us. In addition, our internal control over financial reporting will not prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud will be detected. If we continue to fail to meet applicable listing requirements, Nasdaq may delist our Ordinary Shares from trading, in which case the liquidity and market price of our Ordinary Shares could decline. Our Ordinary Shares are listed on Nasdaq Global Market. We cannot assure you, however, that we will be able to meet the continued listing standards of Nasdaq in the future. On May 13, 2024, we received a deficiency notice (the “Nasdaq Notification”) from the Listing Qualifications Department (the “Staff) of the Nasdaq Stock Market LLC notifying us that for the last 30 consecutive business days, the closing bid price for our Ordinary Shares had been below the minimum of $1.00 per Ordinary Share required for continued listing on The Nasdaq Global Market (the “Minimum Bid Price Rule”). 28 If we fail to comply with the applicable listing standards and Nasdaq delists our Ordinary Shares, we and our shareholders could face significant material adverse consequences, including :

| ● | limited availability of market quotations for our Ordinary 
 Shares;                                                    |

| ● | reduced liquidity for our Ordinary Shares; |

| ● | a determination that our Ordinary Shares are “penny                                                                                   
 stock,” which would require brokers trading in our Ordinary Shares to adhere to more stringent rules and possibly result in a reduced 
 level of trading activity in the secondary trading market for our Ordinary Shares;                                                    |

| ● | a limited amount of news about us and analyst coverage of 
 us; and                                                   |

| ● | a decreased ability for us to issue additional equity securities 
 or obtain additional equity or debt financing in the future.     |

The U.S. National Securities Markets Improvement