Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 46

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 3
Chunk 46
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 inspect and investigate registered public accounting firms headquartered
in mainland China and Hong Kong and vacated its previous determinations to the contrary. However, should PRC authorities obstruct or otherwise
fail to facilitate the PCAOB’s access in the future, the PCAOB may consider the need to issue a new determination.

On June 22, 2021, the
U. S. Senate passed the Accelerating Holding Foreign Companies Accountable Act (the “ AHFCAA”), and on December 29, 2022, the
Consolidated Appropriations Act 2023 was signed into law, which contained, among other things, an identical provision to the AHFCAA, which
reduces the number of consecutive non- inspection years required for triggering the prohibitions under the HFCAA from three years to two.

Our auditor, Onestop, is a Singapore-based independent
public accounting firm that is registered with the PCAOB and can be inspected by the PCAOB and is subject to laws pursuant to which the
PCAOB conducts regular inspections to assess its compliance with the applicable professional standards. The PCAOB currently has access
to inspect the working papers of our auditor. We have no intention of dismissing Onestop in the future or of engaging any auditor not
subject to regular inspection by the PCAOB. However, the recent developments would add uncertainties to our offering and we cannot assure
you whether Nasdaq or regulatory authorities would apply additional and more stringent criteria to us since we are an emerging growth
company and substantial all of our operations are conducting in China. Furthermore, the HFCAA and related laws, which now require the
SEC to prohibit an issuer’s securities from trading on any U. S. stock exchanges if its auditor is not subject to PCAOB inspections
for two consecutive years, may result in the delisting of our Company or the prohibition of trading in our securities in the future if
the PCAOB is unable to inspect our accounting firm at such future time. Delisting may cause a significant decrease in or a total loss
of the value of our securities. Although a shareholder’s ownership of our Company may not decrease directly from delisting, the
ownership may become worth much less, or, in some cases, lose its entire value.

PRC regulations relating to the establishment
of offshore special purpose companies by PRC residents may subject our PRC resident beneficial owners or our PRC subsidiary to liability
or penalties, limit our ability to inject capital into our PRC subsidiary, limit our PRC subsidiary’ ability