Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 235

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 235
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 travel service.

  COST OF SALES  

Cost of sales for our cross-board business
comprise the cost of products purchased and surcharges on purchase cost. Cost of revenue for our travel services comprise the cost of
air-tickets brought from airline or the cost of services provided from local travel firms or persons, the cost for outsourcing the travelling
work to certain travel agencies and additional air-ticket return cost paid to customers.

F-25

The following table shows a breakdown
of cost of sales of all business for the periods presented for each category:

                                                Year ended December 31,                                  
                                                                   2024                                  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Changes in inventories of finished goods                            -         433,870       ( 494,357  
  Purchases of finished goods                                19,229,038       6,395,036         201,734  
  Outsourced service cost                                    21,310,128      19,294,795      77,736,052  
  Amortization of software                                      938,979               -               -  
  Additional air-ticket return cost **                            7,387         253,522         965,169  
  Taxes and surcharges *                                          2,440           6,996           1,646  
                                                             41,487,972      26,384,219      78,410,244  

  Tax and surcharges are mainly Urban Maintenance and Construction Tax ( 7% of Valued Added Tax payment amount), Extra Charges of Education Fund ( 3% of Valued Added Tax payment amount) and Local...  
  Additional air-ticket return cost is the net loss of the return payments paid to customers offset by the return proceeds received from airline companies. The following table shows the gross amo...  

                                              Year ended December 31,                                                                          
                                                                 2024                       2023                       2022                    
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Return paid to customers                                                   2,002,413                  2,196,070                  23,003,679  
  Return received from airline companies                                   ( 1,995,026                ( 1,942,548                ( 22,038,510  
  Additional air-ticket return cost                                              7,387                    253,522                     965,169  

  10.      OTHER IN