Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 206

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 206
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UE AND SEGMENT INFORMATION The Company follows FASB ASC Topic 280, Segment Reporting, which requires that companies disclose segment data based on how management makes decision about allocating resources to segments and evaluating their performance. Reportable operating segments include components of an entity about which separate financial information is available and which operating results are regularly reviewed by the chief operating decision maker (“CODM”), Mr. Danny Tze Ching Wong, to make decisions about resources to be allocated to the segment and assess each operating segment’s performance. The Company has primarily engaged in onesegment which is the provision of sales of goods. Much of the information provided in these consolidated financial statements is similar to, or the same as, that reviewed on a regular basis by the Company’s CODM. As a result, the Company operates and manages its business as a single operating segment. For the years ended March 31, 2024, 2023 and 2022, assets within Hong Kong contributed over 90% of the Company’s total assets. Revenue within Asia contributed over 80% of the Company’s total revenue. 17. CONTINGENCY AND COMMITMENTS Contingencies In the ordinary course of business, the Company may be subject to legal proceedings regarding contractual and employment relationships and a variety of other matters. The Company records contingent liabilities resulting from such claims, when a loss is assessed to be probable, and the amount of the loss is reasonably estimable. In the opinion of management, there were no pending or threatened claims and litigation as of March 31, 2024 and through the issuance date of these consolidated financial statements. F - 30 J-LONG GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED MARCH 31, 2024, 2023 AND 2022

18. RELATED PARTY TRANSACTIONS

The Company’s relationships
with related parties who had transactions with the Company are summarized as follows:

| Related Party                                       |     | Relationship to the Company                                                                                           |
| Mr. Danny Tze Ching Wong                            |     | Director, Chairman of the Board of Director and Controlling Shareholder                                               |
| Mr. Edwin Chun Yin Wong                             |     | Director and Chief Executive Office, the son of Mr. Danny Tze Ching Wong                                              |
| Ms. Lui Wai Fun                                     |     | The spouse of Mr. Danny Tze Ching Wong                                                                                |
| Guangdong Rongmian Accessories Technology Co., Ltd. |     | A company owned as