Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 151

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 6
Chunk 151
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2 Employment Agreement with Sun Lei for a one (1) year term, which expired on July 11, 2023.

C. Board Practices

Our board of directors currently consists of five
members, namely Sun Lei, Huidan Li, Mu Ruifeng, Jin Yan, and Baojun Zhu.

The Board has established the Audit Committee,
which is comprised entirely of independent directors. From time to time, the Board may establish other committees.

Audit Committee

Our Audit Committee is currently composed of three
members: Baojun Zhu, Mu Ruifeng, and Jin Yan. Our Board of Directors determined that each member of the Audit Committee meets the independence
criteria prescribed by applicable regulation and the rules of the SEC for audit committee membership. Each Audit Committee member also
meets NASDAQ’s financial literacy requirements. Mu Ruifeng serves as Chair of the Audit Committee.

Our Board of Directors has determined that Mr.
Mu Ruifeng is the “audit committee financial expert” as such term is defined in Item 407(d) of Regulation S-K promulgated
by the SEC and also meets NASDAQ’s financial sophistication requirements.

The Audit Committee oversees our accounting and
financial reporting processes and the audits of the financial statements of our Company. The Audit Committee is responsible for, among
other things:

  the                                                                                         

  reviewing                                                                                                                             

  reviewing                                               

  discussing                                                                                 

  reviewing                                                                                                                          

  reviewing                                                                      

  reviewing                                                                                                                               
  and discussing with management and the independent auditor various topics and events that may have significant financial impact on the  
  Company or that are the subject of discussions between management and the independent auditors.                                         
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

D. Employees

As of December 31, 2024, we employed 55 full-time
employees. The following table sets forth the number of our full-time employees by function.

  Function                           Number of  
                                     Employees  
 ────────────────────────────────────────────────
  Management and Administration              6  
  Finance                                    2  
  Business Development                      14  
  IT R& D                                   33  
  TOTAL                                     55  

We believe that we have maintained a satisfactory
working relationship with our employees, and we have not experienced any significant labor disputes or any difficulty in recruiting staff
for company’s operations. None of company’s employees is represented by a labor union.

Our employees in China participate in a state