Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 128

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 128
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 the proceeds from bank loans of $1.7 million and proceeds from related parties of $3.5 million.

Net cash generated from financing activities in 2023
mainly represents the proceeds from bank loans of $1.1 million and proceeds from related parties of $0.7 million.

The Company’s Cash Flows and Summary
Of Applicable Regulations

The structure of cash flows within the entities
in our corporate organization, and the applicable regulations, are as follows:

Our corporate structure is a direct holding structure, that is, the
overseas entity listed in the U. S., JX Luxventure Group Inc., incorporated Marshall Islands, currently has no material operations on its
own. It directly owns wholly owns Flower Crown Holding, a Cayman Islands company, which wholly owns Flower Crown (China) Holding Group
Co., Limited, a limited company incorporated in Hong Kong (“ Flower Crown HK”) and, since August 23, 2023, the Billion Place
Limited (Hong Kong) Co., Limited (“ Billion HK”), also a limited company incorporation in Hong Kong. Flower Crown HK wholly
owns all of the share capital of JX Hainan or WFOE, our indirect PRC subsidiary, which, in turns, owns other PRC operating entities.,
including newly-formed Jin Xuan (Shenzhen) International Trade Co., Ltd. (“ JX Shenzhen”), as a wholly-owned subsidiary of
JX Hainan and Hefei Aitong Cultural Tourism Development Co., Ltd. (“ Hefei Aitong”), in which JX Hainan owns 51% ownership.
In 2024, JX Hainan acquired 100% equity interest of Tianjin Baoliting Intelligence Technology Co., Ltd (“ Baoliting”). Separately,
Billion HK wholly owns other PRC operating entities, including newly-formed Baofu (Zhuhai) Technology Co., Ltd. (“ Baofu Technology”),
Hainan Si Quan Run Hang International Travel Agency Co., Ltd. (“ Hainan Travel”), and Hefei Si Quan Run Hang International
Travel Agency Co., Ltd. (“ Hefei Travel”).

As of the date of this Annual Report, the
Company has not established or maintained any cash management policies that dictate the purpose, amount and procedure of fund transfers
among the Company, our subsidiaries, or investors. As of the date of this Annual Report, there have been no cash and asset transfers between
the holding company and its P