Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 188

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 18
Chunk 188
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HK became the Company’s indirect wholly-owned subsidiaries through Alpine Eagle and Stratum Star.

On September 20, 2023, the
controlling shareholder, namely Mr. Danny Tze Ching Wong entered into individual share sales and purchase agreements with the pre-IPO
shareholders, Capital Summit Enterprises Limited, Cherish Gloss Group Limited, Jipsy Trade Limited, Summer Explorer Investments Limited,
Wise Total Solutions Group Limited, and Max Premier Enterprises Limited. According to these agreements, Mr. Danny Tze Ching Wong agreed
to sell and each of the pre-IPO shareholder agreed to purchase1,485,000shares (pre reverse shares split) of the Company. After completion
of this transaction, Mr. Danny Tze Ching Wong, and Mr. Edwin Chun Yin, they each own60.3% and10% of the shares of the Company, respectively.

On November 8, 2023, the
Company effected a share split whereby each3issued and outstanding ordinary share were divided into8ordinary share. All share and
per share information in these financial statements has been retroactively adjusted to reflect the Share Split.

The Company and its subsidiaries
resulting from Reorganization has always been under the common control of Mr. Danny Tze Ching Wong before and after the Reorganization
and thus the current capital structure has been retroactively presented in prior periods as if such structure existed at that time and
in accordance with ASC 805-50-45-5, the entities under common control are presented on a combined basis for all periods to which
such entities were under common control. Since all of the subsidiaries were under common control for the entirety of the years ended
March 31, 2025, 2024 and 2023, the results of these subsidiaries are included in the financial statements for all periods.

All references to Ordinary
Shares, share data, per share data, and related information have been retroactively adjusted, where applicable, in the financial statements
to reflect the issuances of Ordinary Shares of the Company as if these events had occurred at the beginning of the earliest period presented
in accordance with ASC 805-50-45-5.

Basis of presentation

The consolidated financial
statements include all accounts of the Company and its wholly owned subsidiaries (Collectively, the “ Company”) and have been
prepared in accordance with accounting principles generally accepted in the United States of America (“ US GAAP”).

Consolidation

The consolidated financial
statements include the financial statements of