Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 249

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 249
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Group amounts to niland nilat December 31, 2024 and 2023, respectively.

Retained profits/ (accumulated deficits)

The retained profits/(accumulated deficits)
comprise the cumulative net gains and losses recognized in the Company’s income statement.

Foreign currency translation reserve
(other comprehensive income)

Foreign currency translation reserve
represents the foreign currency translation difference arising from the translation of the financial statements of companies within the
Group from their functional currency to the Group’s presentation currency.

F-39

  30.      LEASE  

The Company primarily has operating leases for administrative office
or employees’ dormitories, through third-parties. A summary of supplemental balance sheet information related to operating leases
as of December 31, 2024 and 2023 was as follows:

                                             As of                                 As of              
                                             December 31, 2024                     December 31, 2023  
  Lease right-of-use assets, net             $                         11,868      $                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Lease liabilities, current                                            7,477                         
  Lease liabilities, non-current                                        4,463                         
  Total lease liabilities                    $                         11,940      $                  
  Weighted average remaining lease term                             19 months                         
  Weighted average discount rate*                                         2.9                         

  The discount rate is based on its incremental internal bank loan borrowing rate.  

A summary of lease expenses recognized in the
consolidated statement of income and comprehensive income(loss) for the year ended December 31, 2024 and 2023 and supplemental cash flow
information related to operating leases were as follows:

                                                   For the                       For the       
  Operating lease expenses – short-term lease      $                 13,899      $             
  Interest for lease liability                                          166                    
  Right-of-use assets amortization                                    3,109                    

Minimum future lease payments under non-cancellable
operating leases described above as of December 31, 2024 were as follows:

  By December 31, 2027                                           -  
  By December 31, 2028                   $                       -  
 ────────────────────────────────────────────────────────────────────
                                         As of                      
  By December 31, 2025                   $                   7,724  
  By December 31, 2026                                       4,506  
  Total future lease payments                               12,230