Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 106

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 5
Chunk 106
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ITEM
5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

The
following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated
financial statements and related notes included elsewhere in this Annual Report. This discussion and analysis and other parts of this
Annual Report contain forward-looking statements based upon current beliefs, plans and expectations that involve risks, uncertainties
and assumptions. Our actual results and the timing of selected events could differ materially from those anticipated in these forward-looking
statements as a result of several factors, including those set forth under “ Risk Factors” and elsewhere in this Annual Report.
You should carefully read the “ Risk Factors” section of this Annual Report in Item 3. D to gain an understanding of the important
factors that could cause actual results to differ materially from our forward-looking statements.

OVERVIEW

J-Long Group Limited is a holding company incorporated
in July 2022 under the laws of the Cayman Islands. The Company has no substantial operations other than holding all of the outstanding
share capital of Alpine Eagle, which was incorporated under the laws of the BVI on August 24, 2022. Alpine Eagle is a holding company
holding all the equity interest of Sun Choice, which is a Hong Kong company incorporated on November 10, 2017. Sun Choice currently
does not conduct any business operations. J-Long Group Limited is also a holding company holding of all the equity interest of J-Long
Limited, a company incorporated on December 13, 1985 under the laws of Hong Kong, which is our operating subsidiary conducting business
operations in Hong Kong. J-Long Limited is also the parent company of J-Long Trims Vietnam Co., Ltd. (“ JLVN”), a company incorporated
on May 27, 2024 under the laws of Vietnam. J-Long Limited holds a 51% controlling stake in JLVN. JLVN is our operating subsidiary engaged
in business operations in Vietnam.

The Company, through JLHK,
is an established distributor in Hong Kong of reflective and non-reflective garment trims including, among others, heat transfers,
fabrics, woven labels and tapes, sewing badges, piping, zipper pullers and drawcords, with a manufacturing plant in Vietnam. With over
30 years of experience in the apparel industry and having served over 100 international brands globally, including outerwear and
sportswear brands, uniform and safety workwear brands and fashion brands.