Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 114

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 114
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 if
the SEC determines that we have filed audit reports issued by a registered public accounting firm that has not been subject to
inspection for the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit its securities from being traded on a
national securities exchange or in the over-the-counter trading market in the United States.

On September 22, 2021, the PCAOB adopted
a final rule implementing the HFCAA, which provides a framework for the PCAOB to use when determining, as contemplated under the HFCAA,
whether the Board is unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction
because of a position taken by one or more authorities in that jurisdiction.

On December 16, 2021, the PCAOB issued the Determination
Report which found that the PCAOB is unable to inspect or investigate completely registered public accounting firms headquartered in:
(1) China of the China or Hong Kong, because of a position taken by one or more authorities in China; and (2) Hong Kong, a Special Administrative
Region and dependency of the PRC, because of a position taken by one or more authorities in Hong Kong. Our auditor, Onestop, is a Singapore-based
independent accounting firm that is registered with the PCAOB and can be inspected by the PCAOB, and is subject to laws pursuant to which
the PCAOB conducts regular inspections to assess its compliance with the applicable professional standards. The PCAOB currently has access
to inspect the working papers of our auditor. We have no intention of dismissing Onestop in the future or of engaging any auditor not
subject to regular inspection by the PCAOB.

On August 26, 2022, the
PCAOB announced and signed a Statement of Protocol (the “ Protocol”) with CSRC and the Ministry of Finance of the People’s
Republic of China. The Protocol provides the PCAOB with: (1) sole discretion to select the firms, audit engagements and potential violations
it inspects and investigates, without any involvement of Chinese authorities; (2) procedures for PCAOB inspectors and investigators to
view complete audit work papers with all information included and for the PCAOB to retain information as needed; (3) direct access to
interview and take testimony from all personnel associated with the audits the PCAOB inspects or investigates. On December 15, 2022, the
PCAOB issued a new Determination Report which: (1) vacated the December 16,