Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 214

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 214
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, Hongri International Holdings Ltd (“ Hongri”), a company organized under the laws of the British Virgin
Islands, and Cheung So Wa and Chan Sun Keung, the principal shareholders of KBS.

On August 1, 2014, the share exchange was completed. The acquisition
was accounted for as a reverse merger and recapitalization where the Company, the legal acquirer is the accounting acquiree, and KBS,
the legal acquiree, was the accounting acquirer. KBS changed its name to JX Luxventure Limited. On December 27, 2024, the name was changed
to JX Luxventure Group Inc.

Description of Subsidiaries:

Hongri International Holdings Limited
(the “ Hongri”), formerly known as Wah Ying International Investment Inc., was incorporated in the British Virgin Islands (the
“ BVI”) on July 8, 2008 as a limited liability company with authorized share capital of $50,000, divided into50,000common
shares with $1par value. Up through December 31, 2010,10,000common shares had been issued at par. On January 27, 2011, the Company
issued an additional10,000common shares for cash consideration at $77per share. The principal activity of the Company is investment
holding. Hongri a directly wholly owned subsidiary of the Company.

France Cock (China) Limited (“ France
Cock”) was incorporated in Hong Kong on September 21, 2005 as a limited liability company with authorized capital of HK$10,000,
divided into10,000common shares with par value of HK$1. The capital has been fully paid up. The principal activity of France Cock is
the holding of intellectual property rights such as trademarks. France Cock owns the Company’s trademarks, including “ KBS”
and “ Kabiniao”. France Cock is a directly wholly owned subsidiary of Hongri.

Roller Rome Limited (“ Roller Rome”)
was incorporated in the BVI on March 28, 2006 as a limited liability company with authorized share capital of $50,000, divided into50,000common shares with par value of $1. The principal activity of Roller Rome is the provision of design and development services for sports
apparel. Roller Rome is a directly wholly owned subsidiary of Hongri.

Vast Billion Investment Limited (“ Vast
Billion”) was incorporated in Hong Kong on November 25, 2010 as a limited liability company with