Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 217

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 217
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 HK. It will be engaged in Airline Tickets and Tourism Services business segment.

Hefei Si Quan Run Hang International
travel agency Co., Ltd. (“ Hefei Travel”) was incorporated in the PRC on May 31, 2024, as a wholly-owned subsidiary of Baofu
Technology. It will be engaged in Airline Tickets and Tourism Services business segment.

Tianjin Baoliting Intelligence Technology
Co., Ltd (“ Baoliting”) was incorporated in the PRC on August 11, 2023 and acquired on April 15, 2024, as a wholly-owned subsidiary
of JX Digital. It will be engaged in software development and technology support services.

  GROUP ORGANIZATION AND BASIS OF PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS  

Effective December 13, 2021, the Company
reorganized its corporate subsidiary structure in the PRC under Flower Crown Holding. As a result of the Flower Crown Holding’s
China subsidiaries restructuring, the Company no longer operated those entities through a VIE structure and became the indirect sole shareholder
of JX Hainan Digital and Beijing Heyang.

F-8

The Group structure as at the reporting
date is as follows:

  Interpretations and amendments to published standards effective in 2024  

F-9

On January 1, 2024, the Group has adopted
the new or amended IFRS and interpretations issued by the IFRS interpretations Committee IFRS IC that are mandatory for application for
the fiscal year. Changes to the Group’s accounting policies have been made as required, in accordance with the transitional provisions
in the respective IFRS and IFRS IC.

The adoption of these new or amended
IFRS and IFRS IC did not result in substantial changes to the Group’s accounting policies and had no material effect on the amounts reported
for the current or prior financial years.

  MATERIAL ACCOUNTING POLICIES  

The principal accounting policies adopted
in the preparation of the financial statements are set out below. The policies have been consistently applied to all the years presented,
unless otherwise stated.

Basis of preparation

The consolidated financial statements
have been prepared on the historical cost basis and in accordance with IFRS as issued by the IASB. The principal accounting policies are
set out below.

The consolidated financial statements
incorporate the financial statements of the Company and entities controlled by the Company (its subsidiaries). Control is achieved where
the Company has