Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 4

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 3
Chunk 4
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 Determination Report”) which found that the PCAOB
is unable to inspect or investigate completely registered public accounting firms headquartered in mainland China because of a position
taken by one or more authorities in mainland China. On August 26, 2022, the China Securities Regulatory Commission (“ CSRC”),
the Ministry of Finance of China, and the PCAOB signed a protocol governing inspections and investigations of audit firms based in China
and Hong Kong. On December 15, 2022, the PCAOB issued a new Determination Report (the “2022 Determination Report”) which:
(1) vacated the 2021 Determination Report and (2) concluded that the PCAOB has been able to conduct inspections and investigations completely
in the PRC in 2022. Although the 2022 Determination Report reversed the conclusion of the 2021 Determination Report with respect to PCAOB’s
ability to conduct inspections and investigations completely of the registered public accounting firms headquartered in mainland China
and Hong Kong, the 2022 Determination Report cautions, however, that authorities in the PRC might take positions at any time that would
prevent the PCAOB from continuing to inspect or investigate completely. As required by the HFCAA, if in the future the PCAOB determines
it no longer can inspect or investigate completely because of a position taken by an authority in the PRC, the PCAOB will act expeditiously
to consider whether it should issue a new determination.

The audit report included in this Annual Report for the year ended
December 31, 2024 was issued by Onestop Assurance PAC (“ Onestop”), a Singapore-based independent public accounting firm that
is registered with the PCAOB. Onestop is notheadquartered in mainland China and was notsubject to the 2021
Determination Report. We have no intention of dismissing Onestop in the future or of engaging any auditor not subject to regular inspection
by the PCAOB.

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 in Marshall Islands, currently has no material ope...  

  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