Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 208

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 18
Chunk 208
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 2025 and 2024:

                                                      As of                   
                                                  March 31,                   
                                                       2024             2025  
 ──────────────────────────────────────────────────────────────────────────────
                                                        USD              USD  
  Buildings                                       3,586,301        3,607,134  
  Plant and machinery                               299,916          736,003  
  Furniture and fixtures                          1,006,797        1,065,880  
  Motor vehicles                                    212,154          244,701  
  Leasehold improvement                                   —          295,475  
  Construction in progress                                —          177,470  
  Total                                           5,105,168        6,126,663  
  Less: accumulated depreciation                ( 2,680,596      ( 2,901,990  
  Total property, plant and equipment, net        2,424,572        3,224,673  

Depreciation expenses were
USD169,283, USD147,767and USD221,394recognized for the year ended March 31, 2023, 2024 and 2025, respectively. During the year
ended March 31, 2023, the Company disposed the buildings with net book value of USD930,545and received the sales proceeds of USD1,923,076, resulting in USD987,532gain on disposal.

The following properties
are owned by JLHK and pledged for bank borrowings and leased to two lessees to earn rental income. One property is located at Deerhill
Avenue, Flat C, 3/F, Tower 10, Carpark No. 93 at Garage B, Below Towers 7 to 11 of, Deerhill bay with the net book value of USD952,230and USD910,175as of March 31, 2024 and 2025, respectively. The property was leased to a third party with rental income amounted to USD Nil, USD33,205and USD56,923for the fiscal years ended March 31, 2023, 2024 and 2025, respectively. The other property is located at
House 20 JC Castle,18 Shan Tong Road with the net book value of USD1,192,503and USD1,144,854as of March 31, 2024 and 2025, respectively.
The property was leased to Danny Wong (related party) with rental income amounted to USD Nil,