Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 206

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 18
Chunk 206
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 ───────────────────────────────────────────────────────────────────────────────
                              USD                         USD                  
  Other Receivables, net                      23,374                  307,663  
  Deposit                                     57,901                  187,787  
  Prepayment*                                557,067                1,710,712  
                                             638,342                2,206,162  
  Non-Current Portion                         11,252                  178,786  
  Current Portion                            627,090                2,027,376  
                                             638,342                2,206,162  

  The balance mainly due to the prepaid for the consulting fees and deferred cost for share-based compensation which will be utilized subsequently.  

7.
Leases

The Company leases office,
dormitory and warehouse spaces for varying periods in Hong Kong and Vietnam. 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

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,                                       
                                                 2024                       2025                 
 ─────────────────────────────────────────────────────────────────────────────────────────────────
                                                 USD                        USD                  
  Rights-of-use assets – operating lease                        85,221                  983,097  
  Operating lease liabilities – current                         88,139                  405,146  
  Operating lease liabilities – non-current                          —                  615,366  
                                                                88,139                1,020,512  

The component of lease expenses
are as follows:

  As of                                                                               
  March 31,                                                                           
  2023                                      2024                   2025               
  USD                                       USD                    USD                
 ──────────────────────────────────────────────────────────────────────────────────────