Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 120

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 120
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 of products online sold in connection with the revenue from cross-border merchandize, (b)
the cost to purchase tourism supply up front and cancelling cost if any, and (c) the cost for outsourcing the travelling work to certain
travel agencies

Gross profit and gross margin. For the periods covered
by this section, our gross profit is equal to the difference between our net sales and cost of sales. Our gross margin is equal to the
gross profit divided by net sales.

Administrative expenses. For the periods covered by this
section, general and administrative expenses consisted primarily of compensation and benefits to our general management, finance and administrative
staff, rental costs, office supplies, utilities, and other expenses incurred in connection with general operations.

Comparison of Fiscal Years Ended December 31, 2024, 2023, and
2022

The following table sets forth key components of our results of operations,
for the years ended December 31, 2024, 2023, and 2022, both in U. S. dollars and as a percentage of or revenue.

                                                       Year ended                                                               
                                                December 31, 2024                                                               
                                                           Amount                                                               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Revenue                                              49,840,288                31,840,588                79,874,727           
  Cost of sales                                       (41,487,972      -83      (26,384,219      -83      (78,410,244      -98  
  Gross profit                                          8,352,316       17        5,456,369       17        1,464,483        2  
  Operating expenses                                                                                                            
  Distribution and selling expenses                    (2,651,904       -5          (58,981        0         (721,388       -1  
  Administrative expenses                              (1,830,214       -4       (2,076,876       -7      (56,043,741      -70  
  Total operating expenses                             (4,482,118       -9       (2,135,857       -7      (56,765,129      -71  
  Other income                                             69,113        0           71,408        0           16,636        0  
  Other gains and losses                                 (107,384        0         (342,954       -1          (98