Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 194

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 194
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 (the “JOBS Act”). Under the JOBS Act, EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. Other accounting standards that have been issued by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent standards that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures. 3. INVESTMENT IN MARKETABLE DEBT SECURITIES Investment in marketable debt securities consist of investments in listed corporate bonds and are accounted for as available-for-sale investments. Management determines the appropriate classification of its investment in marketable debt securities at the time of purchase and reevaluates the classifications at each balance sheet date. Investment in marketable debt securities are carried at fair value, with unrealized gains and losses, net of taxes, reported in other comprehensive income, with the exception of unrealized losses believed to be other-than-temporary which are recorded in the consolidated statements of operations. As of March 31, 2023 and 2024, investment in marketable debt securities were carried at fair value. Fair values of investment in marketable debt securities were estimated using quoted market prices and were classified as level 1 in the fair value hierarchy. In August 2017, the Company bought the bond — SOFTBANK 6.00% Perpetual Corp at the consideration of USD 200,400with no maturity date and the credit rating of bond is B+. In October 2022, the Company sold the bond and collected USD 188,490. Loss of USD 10,626was recognized from the sale of bonds with the amount of USD 9,091reclassified from other comprehensive income into earnings. F - 19 J-LONG GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED MARCH 31, 2024, 2023 AND 2022 3. INVESTMENT IN MARKETABLE DEBT SECURITIES(cont.)

In January 2017, the Company
bought the bond — STANDARD CHARTERED PLC % Perpetual Corp at the consideration of USD with no maturity date
and the credit rating of the bond is BB-. In April 2023, the Company sold the bond and collected USD. Loss of USD was recognized