Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 220

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 220
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 adjusted
for the effects of a significant financing component, using the practical expedient in IFRS 15. Currently, the Company’s contract
with its customers do not include financial benefit for more than one year.

Nature and timing of satisfaction of
performance obligations for each of the revenue streams are as follows:

Revenue from the sale of goods

Performance obligation is satisfied
at the point in time when control of the asset is transferred to the customer, generally on delivery and acceptance of the goods. The
Company presents revenues from such transactions on a gross basis in the consolidated statements of operations and comprehensive income/(loss),
as the Company acts as a principal to take inventory risks of these goods.

F-12

Revenue from the sale of packaged
group tour service

Performance obligation is satisfied
when the tour service is completed, generally when the tour group successfully returned from the tour destination to the place of origination.
The Company presents revenues from such transactions on a gross basis in the consolidated statements of comprehensive income/(loss), as
the Company acts as a principal to provide a package of tourism services and take a full obligation to provide such services even if the
suppliers are not able to deliver service.

Revenue from reselling of air-ticket

The Company is a reseller of air-ticket,
it provides value add services to its customers including guaranteed flight replacement and other financial benefits. The Company procured
the tickets from different airline companies and resell them to the online air-ticket agency companies or other tourism companies. The
air-ticket agency company will put an online bid inviting from its suppliers once it receives the demands from its online customers. The
Company is one of the air-ticket suppliers. The Company procures the tickets in responding the air-ticket agency companies’ online
bid inviting to ensure the seats are available to sell to the agency companies, or the Company procure the tickets based on its judgment
of potential trend of certain airlines within certain period. Once the Company’s deposit, at the full or significant amount of the
air-ticket, was deducted by the airline company and the Company agreed to secure the seats from the airline company, the purchase of air-tickets
was recorded. The Company decided how much and how soon to resell the air-tickets. The inventory period is from 1 minute to few months.
The air tickets are sold shortly after their purchase to lower the inventory risk. Sometimes, the Company hold the tickets longer to expect
a higher margin, but if the tickets cannot be sold before flight time, the Company have to