Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 70

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 3
Chunk 70
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 market capitalization after our IPO), we do not presently expect to be a PFIC for the current
taxable year or the foreseeable future. However, no assurance can be given in this regard because the determination of whether we are
or will become a PFIC is a fact-intensive inquiry made on an annual basis that depends, in part, upon the composition of our income and
assets. In addition, there can be no assurance that the Internal Revenue Service (“ IRS”) will agree with our conclusion or
that the IRS would not successfully challenge our position. Fluctuations in the market price of our Ordinary Shares may cause us to become
a PFIC for the current or subsequent taxable years because the value of our assets for the purpose of the asset test may be determined
by reference to the market price of our Ordinary Shares. The composition of our income and assets may also be affected by how, and how
quickly, we use our liquid assets and the cash raised in our IPO. If we were to be or become a PFIC for any taxable year during which
a U. S. holder holds our Ordinary Shares, certain adverse U. S. federal income tax consequences could apply to such U. S. holder.
See Item 10. “ Additional Information - Material Income Tax Considerations - Material U. S. Federal Income
Tax Considerations for U. S. Holders - Passive Foreign Investment Company (“ PFIC”) Consequences

We
are an emerging growth company within the meaning of the Securities Act and may take advantage of certain reduced reporting requirements.

We
are an emerging growth company, as defined in the JOBS Act, and we may take advantage of certain exemptions from requirements applicable
to other public companies that are not emerging growth companies, including, most significantly, not being required to comply with the
auditor attestation requirements of Section 404 of Sarbanes-Oxley for so long as we remain an emerging growth company. As a result,
if we elect not to comply with such auditor attestation requirements, our investors may not have access to certain information they may
deem important.

The
JOBS Act also provides that an emerging growth company does not need to comply with any new or revised financial accounting standards
until such date that a private company is otherwise required to comply with such new or revised accounting standards. We do not plan
to opt out of such exemptions afforded to an emerging growth company. As a result, our financial statements may not be comparable to
companies that comply with public company