Company: JL
Filing Date: 2025-05-20
Form Type: 20-F/A
Source: 0001213900-25-045507
Chunk: 117

Company: J-Long Group Ltd
Filing Date: 2025-05-20
Form: 20-F/A
Chunk 117
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 of products that had a higher profit margin to certain key customers, resulting in a lower level of cost of sales as compared to a relatively steady revenue level in fiscal year 2023. Gross Profit Our gross profit increased by 13.4% to $10,038,645 for the fiscal year ended March 31, 2023, from $8,855,991 for the fiscal year ended March 31, 2022. The increase in gross profit was mainly due to increased sales to certain key customers, and an increase in the proportion of sales of products with lower processing and packaging costs, which produced a better profit margin. As a result of the above and given the increase in our selling prices, our gross profit margin was slightly improved to 26.2% for the fiscal year ended March 31, 2023, as compared to 23.1% for the fiscal year ended March 31, 2022. 72 Selling and Marketing Expenses Selling and marketing expenses are primarily comprised of marketing and promotion fees paid to consultants for overseas sales, wages and salaries for our sales and marketing personnel and outbound transportation expenses. Our selling and marketing expenses increased by 24.7% to $2,170,570 for the fiscal year ended March 31, 2023, from $1,740,278 for the fiscal year ended March 31, 2022. We paid commissions to our overseas consultants who are mainly stationed in non-Asian countries with respect to non-Asia sales. We incurred higher commissions in fiscal year 2023 due to an increase in non-Asia sales. In line with inflation and the market trend, we also increased salaries to our sales and marketing department to keep our Company competitive and attractive to prospective employees. General and Administrative Expenses General and administrative expenses are mainly comprised of staff costs and directors’ remuneration, travel and transportation expenses, depreciation expenses, office expenses, bank charges and other miscellaneous expenses. Our general and administrative expenses increased by 3.2% to $1,635,222 for the fiscal year ended March 31, 2023, from $1,585,268 for the fiscal year ended March 31, 2022. The increase was mainly due to a higher number of sale and lease-back agreements entered into for warehouse, office and warehouse/office space, which caused an increase in lease expenses. Other Income/Expenses and Currency Exchange Gain/Loss We recorded other income and exchange gain of $1,656,640 for the fiscal year ended