Company: JL
Filing Date: 2025-05-20
Form Type: 20-F/A
Source: 0001213900-25-045507
Chunk: 186

Company: J-Long Group Ltd
Filing Date: 2025-05-20
Form: 20-F/A
Chunk 186
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, and legal environments in Hong Kong, as well as by the general state of the economy in Hong Kong. The Company’s results may be adversely affected by changes in the political, regulatory and social conditions in Hong Kong. Although the Company has not experienced losses from these situations and believes that it is in compliance with existing laws and regulations including its organization and structure disclosed in Note 1, such experience may not be indicative of future results. The Company’s business, financial condition and results of operations may also be negatively impacted by risks related to natural disasters, extreme weather conditions, health epidemics and other catastrophic incidents, which could significantly disrupt the Company’s operations. Foreign currency translation and transaction and Convenience translation The Company’s reporting currency is the USD. The Company’s operations are principally conducted in Hong Kong where Hong Kong dollar is the functional currency. Transactions denominated in other than the functional currencies are re-measured into the functional currency of the entity at the exchange rates prevailing on the transaction dates. Monetary assets and liabilities denominated in currencies other than the applicable functional currencies are translated into the functional currency at the prevailing rates of exchange at the balance date. The resulting exchange differences are reported in the statements of operations and comprehensive income. The exchanges rates used for translation from Hong Kong dollar to USD was 7.8000, a pegged rate determined by the linked exchange rate system in Hong Kong. This pegged rate was used to translate Company’s balance sheets, income statement items and cash flow items for 2024, 2023 and 2022. F - 9 J-LONG GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED MARCH 31, 2024, 2023 AND 2022 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(cont.)

Concentrations and risks

Concentration

Significant customers and suppliers
are those that account for greater than 10% if the Company’s revenue and purchase, respectively.

During the years ended
March 31, 2024, 2023 and 2022, there were no customer generated revenue which accounted for over 10% of the total revenue generated
for that year, respectively.

As of March 31, 2024 and 2023,
there were one and two customers which accounted for over 10% of the total consolidated accounts receivable, respectively. The details
are as follows:

|            |     |     As of 
 March 31, |    |   |