Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 8

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 3
Chunk 8
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 required to obtain approvals in the future or that the PRC government could disallow our holding company structure, which
would likely result in a material change in our operations, including our ability to continue our existing holding company structure,
carry on our current business, accept foreign investments and continue to offer securities to our investors.

If
we (i) do not receive or maintain required permissions or approvals; (ii) inadvertently conclude that such permissions or approvals are
not required; or (iii) applicable laws, regulations or interpretations change and we are required to obtain such permissions or approvals
in the future, we could be subject to fines, legal sanctions or an order to suspend our business operations, which may materially and
adversely affect our business, financial condition and results of operations. These adverse actions could cause the value of our Ordinary
Shares to significantly decline or become worthless.

Trial
Measures

On
February 17, 2023, the China Securities Regulatory Commission (the “ CSRC”) promulgated the Trial Administrative Measures
of Overseas Securities Offering and Listing by Domestic Companies (the “ Trial Measures”) and five supporting guidelines,
which came into effect on March 31, 2023. On February 17, 2023, the CSRC also issued the Notice on the Administrative Arrangements for
the Filing of the Overseas Securities Offering and Listing by Domestic Companies (the “ CSRC Notice”). Pursuant to the Trial
Measures and the CSRC Notice, among other things, (i) a domestic company that seeks to offer or list securities overseas, both directly
and indirectly, must complete certain filing procedures with the CSRC within three working days following its submission of an initial
public offering or listing application; and (ii) domestic companies which have already, directly or indirectly, offered and listed securities
in overseas markets prior to the effectiveness of the Trial Measures are required to fulfill their filing obligations and report relevant
information to the CSRC within three working days after conducting a follow-on offering of equity securities on the same overseas market.
If the issuer meets both of the following criteria, the overseas offering and listing conducted by such issuer shall be deemed an indirect
overseas offering and listing by a PRC domestic company: (i) 50% or more of any of the issuer’s operating revenue, total profit,
total assets or net assets as documented in its audited consolidated financial statements for the most recent fiscal year were derived
from PRC domestic companies; and (ii) the majority