IPO - J-Long Group Ltd

Form Type: 20-F/A

Filing Date: 2025-04-03

Corporate Action: Ipo

Type: Update

Accession Number: 000121390025028675

Filing Summary: This document is an amendment to Form 20-F filed by J-Long Group Limited for the fiscal year ended March 31, 2024. The amendment includes key points such as the conclusion of the company's initial public offering on January 26, 2024, where it issued 1,400,000 ordinary shares at $5.00 per share, resulting in total gross proceeds of $7,000,000. The report outlines the company's structure as a holding company incorporated in the Cayman Islands, with operations primarily conducted through its subsidiary, J-Long Limited, in Hong Kong. The document also discusses the implications of the Holding Foreign Companies Accountable Act (HFCAA) and its amendments, which could restrict or prohibit trading of its securities in the U.S. if the company's auditors cannot be inspected by the PCAOB. Other risks related to operations in Hong Kong and compliance with both local and PRC regulations are extensively detailed, emphasizing potential adverse effects on business operations and financial performance. Additionally, it is noted that the company intends to retain profits for operational expansion rather than dividends in the short term.

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