Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 73

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 73
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 shares of Flower Crown in exchange for the issuance to the FC Shareholders an aggregate of 6,478
shares of our Common Stock (the “ Share Exchange”). The Share Exchange transaction was closed on December 21, 2020 and as a
result, Flower Crown is now our wholly-owned subsidiary.

Flower Crown is a holding company incorporated on August 7, 2020 in
Cayman Islands, directly owns 100% share capital in Flower Crown (China) Holding Group Co., Limited, a limited company incorporated in
Hong Kong on May 24, 2018 (“ Flower Crown HK”).

Flower Crown HK, in turn, owns 100% of the share
capital of Jin Xuan Luxury Tourism (Hainan) Digital Technology Co., Ltd, a limited company incorporated on August 4, 2016 in PRC (“ Jin
Xuan Luxury Tourism”). Jin Xuan Luxury Tourism owns 100% of the share capital of Flower Crown (Hainan) Cross-Border E-Commerce Co.,
Ltd., a limited company incorporated on July 17, 2020 in PRC (“ Flower Crown China”), and prior to October 8, 2023, it also
owned 100% share capital of Flower Crown HK Beijing Heyang International Travel Service Co., Ltd., a limited company incorporated on March
29, 2018 in China (“ Heyang Travel”). On October 8, 2023, the Company sold 100% ownership in Heyang Travel, a non-related third
party.

Concurrently with the closing of the Share Exchange
Agreement on December 9, 2020, we entered into a Stock Purchase Agreement (the “ Stock Purchase Agreement”) with Ms. Sun Lei,
our Chief Executive Officer and a director of the Company, which provided for the issuance of an aggregate of 5,830 shares of the Company
(the “ Purchased Shares”) in exchange for making payments on behalf of the Company for all “ Public Company Expenses”
as set forth in the Stock Purchase Agreement for the next two years, in the amount of no less than $600,000 and no more than $700,000
(“ Stock Purchase”). The Stock Purchase transaction was closed on December 21, 2020. Pursuant to the term of the Stock Purchase
Agreement, the Purchased Shares were held in escrow by an escrow agent to secure Ms. Sun’s obligations under the Stock Purchase
Agreement and released in every 6 months, pursuant