Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 129

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 129
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 and requires the Company to recover the incremental portion of incentive-based compensation received by any officer that was in excess of the amount they would have received had their incentive compensation been determined based on the restated financial statements. Events requiring a restatement of financial statements would include the material noncompliance of the Company with any financial reporting requirements under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period. 82 For additional information regarding our Compensation Recovery Policy, please refer to Exhibit 97.1 included in the Company’s Annual Report on Form 20-F for the year ended March 31, 2024. Equity Compensation Plan Information On June 17, 2024, our Board of Directors authorized and adopted a 2024 equity incentive plan (the “2024 Equity Incentive Plan”), providing a means by which the Company may attract and retain key personnel, and directors, officers, managers, employees, consultants and advisors of the Company could acquire and maintain an equity interest in the Company or be paid incentive compensation, strengthening their commitment to the welfare of the Company and aligning their interests with those of the Company’s shareholders. The 2024 Equity Incentive Plan provides for the reservation of 6,280,000 Ordinary Shares for allotment and issuance as fully paid and non-assessable pursuant to any incentive stock option, non-qualified stock option, stock appreciation right, restricted stock unit, stock bonus award or performance compensation award that may be granted under the 2024 Equity Incentive Plan. Outstanding Equity Awards at Fiscal Year-End As of March 31, 2024 and through the date of this Annual Report, we have not authorized the grant of any of our Ordinary Shares pursuant to the 2024 Equity Incentive Plan. Employees As of March 31, 2024, JLHK employed a total number of 62 full-time employees. JLHK had a total of 57 full-time employees as of March 31, 2023. All of our employees were stationed in Hong Kong. The following table sets out a breakdown of our employees by function:

|                                    |     |     |     As of 
 March 31, 
      2024 |     |     |     As of 
 March 31, 
      2023 |
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