Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 240

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 240
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 amounts recognized in the consolidated statements
of financial position to be reasonable approximation of their fair values.

Trade payables comprise amounts outstanding
for trade purchase. The aging analysis of trade payables is as follows:

                                       As at December 31,                                      
                                                     2024                   2023               
 ───────────────────────────────────────────────────────────────────────────────────────────────
  Past due for less than 4 months                              416,987                388,126  
                                                               416,987                388,126  

F-34

  26.      RELATED PARTIES PAYABLE  

  (1)      Nature of relationship with related parties  

  Name            Relationship with the Group                                                
  Yan, Keyan      EX-chairman of the Board of Directors and interim Chief Financial Officer  
  Sun, Lei        Chief Executive Officer and Co-chairman of the Board of Directors          
  Li Huidan       Co-Chairman of the Board of Directors                                      
  Mu Ruifeng      Director                                                                   
  Jin Yan         Director                                                                   

  (2)      Significant balances between the Group and the above related parties:  

                                          As at December 31,                                          
  Name            Nature                                2024                     2023                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Li, Huidan      Borrowing of funds                              2,423,433                2,449,165  
  Sun, Lei        Borrowing of funds                              1,359,982                  881,353  
                                                                  3,783,415                3,330,518  

Related parties payables were unsecured,
non-interest bearing and repayment on demand.

(3) Significant related parties transactions
between the Group and the above related parties:

During 2022, the Company issued1,000,000shares to Sun Lei for her compensation.

During 2022, the Company issued300,000shares to 3 Directors for their compensation as below:

  Name             Shares      Value               
                   issued                          
 ───────────────────────────────────────────────────
  Mu Ruifeng      100,000      $          228,000  
  Jin Yan         100,000                 228,000  
  Li Huidan       100,000                 228,000  
                  300,000      $          684,000  

During 2024, the Company disposed a
vehicle to Sun Lei with proceeds of $222,354.

During