Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 173

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 173
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 the Notice on Issues Concerning
the Foreign Exchange Administration for Domestic Individuals Participating in Stock Incentive Plan of Overseas Publicly Listed Company,
or the Stock Incentive Plan Notice, in February 2012, replacing the previous rules issued by SAFE in March 2007. Pursuant to the Stock
Incentive Plan Notice and other relevant rules and regulations, PRC residents participating in stock incentive plan in an overseas publicly-listed
company are required to register with SAFE or its local branches and follow certain other procedures. Participants of a stock incentive
plan who are PRC residents must conduct the SAFE registration and other procedures with respect to the stock incentive plan through a
qualified PRC agent, which could be a PRC subsidiary of the overseas publicly listed company or another qualified institution appointed
by the PRC subsidiary. In addition, the PRC agent is required to update the relevant SAFE registration should there be any material change
to the stock incentive plan, the PRC agent or other material changes. The PRC agent must, on behalf of the PRC residents who have the
right to exercise the employee stock options, apply to SAFE or its local branches for an annual quota for the payment of foreign currencies
in connection with the PRC residents’ exercise of the employee stock options. The foreign exchange proceeds received by the PRC
residents from the sale of shares under the stock incentive plans granted and dividends distributed by the overseas listed companies must
be remitted into the bank accounts in the PRC opened by the PRC agents prior to distribution to such PRC residents.

We initially adopted an equity incentive plan in 2018 under which we
have the discretion to award incentives and rewards to eligible participants. On January 11, 2022, we terminated the 2018 equity incentive
plan and adopted the new equity incentive plan (the “2022 Plan”). On October 26, 2022, we terminated the 2022 Plan and adopted
the New 2022 EIP with 1,000,000 maximum authorized shares of Common Stock for issuance. On May 7, 2025, the Company amended the New 2022
EIP, pursuant to which, among other things, the number of maximum authorized shares of Common Stock available for issuance increased to
25,000,000 shares of Common Stock. We have advised the recipients of awards under our equity incentive plan to handle relevant foreign
exchange matters in accordance with the Stock Incentive Plan Notice. However, we cannot