Company: JL
Filing Date: 2025-07-28
Form Type: 20-F
Source: 0001213900-25-068049
Chunk: 115

Company: J-Long Group Ltd
Filing Date: 2025-07-28
Form: 20-F
Item: Item 5
Chunk 115
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uneration, travel and transportation expenses, depreciation expenses,
office expenses, bank charges and other miscellaneous expenses. Our general and administrative expenses increased by 3.2% to $1,635,222
for the fiscal year ended March 31, 2023, from $1,585,268 for the fiscal year ended March 31, 2022. The increase was mainly due to a
higher number of sale and lease-back agreements entered into for warehouse, office and warehouse/office space, which caused an increase
in lease expenses.

Other Income/Expenses and Currency Exchange Gain/Loss

We recorded other income
and exchange gain of $1,656,640 for the fiscal year ended March 31, 2023, as compared to other expenses and currency exchange loss of
$94,488 for the fiscal year ended March 31, 2022. Other income for the fiscal year ended March 31, 2023 was mainly due to a foreign exchange
gain of $443,831 due to the fluctuation of the Renminbi, an increase of sundry income of $177,356 derived mainly from a subsidy from
the Employment Support Scheme launched by the Hong Kong government and a gain from disposal of property of $987,532. Other losses for
the year ended March 31, 2022 was mainly due to a foreign exchange loss of approximately $156,000 as the US dollar appreciated, while
such loss was partly offset by sundry income.

Interest Expense

Our interest expenses increased
by 78.6% to $135,616 for the fiscal year ended March 31, 2023, from $75,919 for the fiscal year ended March 31, 2022. The increase was
primarily due to the rise in interest rates.

Income Tax Expense

Our income tax expense increased
by 25.3% to $1,097,726 for the fiscal year ended March 31, 2023, from $876,396 for the fiscal year ended March 31, 2022. The increase
was due to our increase in profit before income tax. Our effective tax rate decreased to 14.2% for the fiscal year ended March 31, 2023
from 16.4% for the fiscal year ended March 31, 2022. For information on taxes imposed by the Cayman Islands and Hong Kong, please see
Item 10. “ Additional Information - Material Income Tax Considerations.”

Net