1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
J-Long Group Limited (the “Company”) was incorporated in the Cayman Islands on July 25, 2022 under the Companies Act as an exempted company with limited liability. The Company conducts its primary operations of apparel trims solution services in Hong Kong through its indirectly held wholly owned subsidiary that is incorporated and domiciled in Hong Kong, namely J-Long Limited (“JLHK”), and in Vietnam through its indirectly held 51% owned subsidiary that is incorporated and domiciled in Vietnam, namely J-Long Trims Vietnam Co., LTD (“JLVN”).
Details of the Company and its subsidiaries are set out in the table as follows:
| Name | Date of incorporation | Percentage of effective ownership | Place of incorporation | Principal activities | |||||||||
| 2025 | 2026 | ||||||||||||
| J-Long Group Limited (the “Company”) | July 25, 2022 | Parent | Parent | Cayman Islands | Investment holdings | ||||||||
| Stratum Star Limited (“Stratum Star”) | August 24, 2022 | 100% | 100% | The British Virgin Islands | Investment holdings | ||||||||
| Alpine Eagle Limited (“Alpine Eagle”) | August 24, 2022 | 100% | 100% | The British Virgin Islands | Investment holdings | ||||||||
| J-Long Limited (“JLHK”) | December 13, 1985 | 100% | 100% | Hong Kong | Provision of apparel solution services | ||||||||
| Sun Choice Enterprises Limited (“Sun Choice”) | November 10, 2017 | 100% | 100% | Hong Kong | Inactive | ||||||||
| J-Long Trims Vietnam Co., LTD(“JLVN”) | May 27, 2024 | % | 51% | Vietnam | Provision of apparel solution services | ||||||||
Basis of presentation
The consolidated financial statements include all accounts of the Company and its wholly owned subsidiaries (Collectively, the “Company”) and have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).
Consolidation
The consolidated financial statements include the financial statements of the Company and its subsidiaries. All inter-company transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.
Reclassifications
Certain prior period balances were reclassified to conform to the current period’s presentation. None of these reclassifications had an impact on reported net income or cash flows for any of the periods presented.