Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 218

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 218
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 the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Where necessary, adjustments are made
to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group.

All intra-group transactions, balances,
income and expenses are eliminated on consolidation.

F-10

Foreign currencies

Functional and presentation currency

Items included in the financial statements
are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”).

The Group conducts its business predominately
in the PRC and hence its functional currency is the Renminbi (RMB).

Translation from RMB to USD were used
at the following rates:

                         Period end rates          Average rates        
  December 31, 2022      USD 1.00= RMB 6.8987      USD 1.00=RMB 6.7347  
  December 31, 2023      USD 1.00= RMB 7.0999      USD 1.00=RMB 7.0809  
  December 31, 2024      USD 1.00= RMB 7.2993      USD 1.00=RMB 7.1957  

Translation from HKD to USD were used
at the following rates:

                         Period end rates          Average rates        
  December 31, 2022      USD 1.00= HKD 7.7970      USD 1.00=HKD 7.8305  
  December 31, 2023      USD 1.00= HKD 7.8109      USD 1.00=HKD 7.8292  
  December 31, 2024      USD 1.00= HKD 7.7677      USD 1.00=HKD 7.8030  

The results and financial positions
in functional currency are translated into the presentation currency, USD, of the Company as follows:

  (1)      Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet;  

  (2)      Income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on...  

  (3)      Share equity, share premium and dividends are translated at historical exchange rates; and  

  (4)