Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 35

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 3
Chunk 35
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 environment in Hong Kong in the future. Since our operations
are based in Hong Kong, any change of such political arrangements may pose immediate threat to the stability of the economy in Hong Kong,
thereby directly and adversely affecting our results of operations and financial positions.

The
Hong Kong protests that began in 2019 are ongoing and were triggered by the introduction of the Fugitive Offenders amendment bill by
the Hong Kong government. If enacted, the bill would have allowed the extradition of criminal fugitives who are wanted in territories
with which Hong Kong does not currently have extradition agreements, including mainland China. This led to concerns that the bill would
subject Hong Kong residents and visitors to the jurisdiction and legal system of mainland China, thereby undermining the region’s
autonomy and people’s civil liberties. Various sectors of the Hong Kong economy have been adversely affected as the protests turned
increasingly violent. Most notably, the airline, retail and real estate sectors have seen their sales decline.

Under
the Basic Law, Hong Kong is exclusively in charge of its internal affairs and external relations, while the government of the PRC
is responsible for its foreign affairs and defense. Hong Kong maintains and develops relations with foreign states and regions.
Based on certain recent development, including the Hong Kong National Security Law issued by the Standing Committee of the PRC National
People’s Congress in June 2020, the U. S. State Department has indicated that the United States no longer considers
Hong Kong to have significant autonomy from China and, at the time, President Donald Trump signed an executive order and HKAA to
remove Hong Kong’s preferential trade status and to authorize the U. S. administration to impose blocking sanctions against
individuals and entities who are determined to have materially contributed to the erosion of Hong Kong’s autonomy. The United States
may impose the same tariffs and other trade restrictions on exports from Hong Kong that it places on goods from mainland China.
These and other recent actions may represent an escalation in political and trade tensions involving the United States, China, and
Hong Kong, which could potentially harm our business.

Given
the relatively small geographical size of Hong Kong, any of such incidents may have a widespread effect on our business operations,
which could in turn adversely and materially affect our business, results of operations, and financial condition. It is difficult to
predict the full impact of the HKAA on Hong Kong and companies with operations in Hong Kong like us. Furthermore, legislative
or administrative actions in respect to China-U. S.