Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 55

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 3
Chunk 55
---
 areas, which may result in significant market volatility. Any prolonged slowdown in the global and/or
Hong Kong economy may have a negative impact on our business, results of operations and financial condition, and continued turbulence
in the international markets may adversely affect our ability to access the capital markets to meet liquidity needs. Although we mainly
operate our business in Hong Kong, our customers principally comprise owners of international apparel brands, their apparel manufacturers
and local buying offices whose customers are located around the world. As such, the demand for our customers’ products may be dependent
on the global economy. If there is any significant decline in the global economy, our profitability and business prospects will be materially
affected. Also, major market disruptions and adverse changes in market conditions and uncertainty in the regulatory climate worldwide
may adversely affect our business and industry or impair our ability to borrow or make any future financial arrangements.

The
credit and financial markets have experienced extreme volatility and disruptions due to the current conflict between Ukraine and Russia,
and the uncertain resolution of this conflict could result in protracted and/or severe damage to the global economy. The conflict is
expected to have further global economic consequences, including but not limited to the possibility of severely diminished liquidity
and credit availability, declines in consumer confidence, declines in economic growth, increases in inflation rates and uncertainty about
economic and political stability. The extent and duration of the military action, sanctions, and resulting market disruptions are impossible
to predict, but they could be substantial, even though we do not have any direct exposure to Russia or the adjoining geographic regions.
Prolonged unrest, intensified military activities, or more extensive sanctions impacting the region could have a material adverse effect
on the global economy, and such effect could in turn have a material adverse effect on the business outlook of our business.

Risks
Related to Our Ordinary Shares

An
active trading market for our Ordinary Shares may not continue and the trading price for our Ordinary Shares may fluctuate significantly.

We
cannot assure you that a liquid public market for our Ordinary Shares will continue. If an active public market for our Ordinary Shares
does not continue, the market price and liquidity of our shares may be materially and adversely affected. As a result, investors in our
shares may experience a significant decrease in the value of their shares.

The
trading price of our Ordinary Shares could be subject to rapid and substantial volatility, which could make it difficult for prospective
investors to assess the rapidly changing value of our Ordinary Shares and result in substantial losses to investors.

As