Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 75

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 4
Chunk 75
---
 of which Alpine Eagle allotted and issued an aggregate of 999 shares, credited as fully-paid, in its share capital,
to us. Upon the acquisition, we became the ultimate holding company of Alpine Eagle and Sun Choice.

On
September 20, 2023, Mr. Danny Wong entered into individual sale and purchase agreements with Capital Summit Enterprises Limited,
Cherish Gloss Group Limited, Jipsy Trade Limited, Summer Explorer Investments Limited, Wise Total Solutions Group Limited and Max Premier
Enterprises Limited (collectively, the “ Pre-IPO Shareholders”). According to these agreements, Mr. Danny Wong agreed to sell
and each of the Pre-IPO Shareholders agreed to purchase 1,485,000 of our Ordinary Shares (retroactively adjusted to reflect a share
split of our Ordinary Shares at a ratio of 8-for-3, which occurred on November 8, 2023) at a consideration of US$4,000,000. The
Ordinary Shares were transferred on the same day upon execution of the instruments of transfer, with the consideration to be settled
by way of promissory notes on or before June 30, 2024. All of the Ordinary Shares held by the Pre-IPO shareholders were registered
for resale in conjunction with the Company’s initial public offering.

On May 27, 2024, J-Long Trims
Vietnam Co., Ltd (“ JLVN”) was incorporated as a company with limited liability under the laws of Vietnam. JLHK is the parent
company of JLVN with 51% controlling stake and J-Long Trims Pte. Ltd is the non-controlling shareholder of JLVN with 49% controlling stake.
JLVN is our operating subsidiary engaged in business operations in Vietnam.

See
Item 7. “ Major Shareholders and Related Party Transactions - Major Shareholders,” on page 89 of this Annual Report for information
on the current shareholdings of our major shareholders.

Initial Public Offering. On January 26, 2024, we closed on our IPO of 1,400,000 Ordinary Shares at a public offering price of $5.00 per share at a pre-reverse
stock split for total gross proceeds of $7,000,000 before deducting underwriting discounts and other offering expenses. Our Ordinary Shares
commenced trading on the Nasdaq Global Market on January 24, 2024 under the ticker symbol “ JL.”

Nasdaq
Deficiency.

Pursuant