6-K 1 ea0231658-6k_jlonggroup.htm REPORT OF FOREIGN PRIVATE ISSUER

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16

OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

February 21, 2025

Commission File Number 001-41901

J-Long Group Limited

(Registrant’s Name)

Flat F, 8/F, Houston Industrial Building
32-40 Wang Lung Street, Tsuen Wan
New Territories, Hong Kong

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

Press Release

On February 21, 2025, J-Long Group Limited announced its interim financial results as of and for the six-month period ended September 30, 2024 (“Interim Results”).

The information disclosed under on this Form 6-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as expressly set forth in such filing.

A copy of the press release announcing the Interim Results is included as Exhibit 99.1 to this Form 6-K.

Interim Financial Report

REPORT ON FORM 6-K FOR THE SIX-MONTH PERIOD ENDED SEPTEMBER 30, 2024

		Page
Unaudited Consolidated Balance Sheet as of September 30, 2024 and Audited Consolidated Balance Sheet as of March 31, 2024		2
Unaudited Consolidated Statements of Income and Comprehensive Income for the Six-Month Periods Ended September 30, 2024 and 2023		3

J-LONG GROUP LIMITED
UNAUDITED CONSOLIDATED BALANCE SHEETS

	As of
	March 31,		September 30,
	2024		2024
	USD		USD
	(Audited)		(Unaudited)
Assets
Current assets:
Cash and cash equivalents		4,161,818		6,706,894
Restricted cash		1,000,000		1,000,000
Accounts receivable, net		2,349,374		2,182,222
Accounts receivable, net – related parties		33,924		-
Investment in marketable debt securities		2,275		1,853
Inventories		4,449,132		4,034,612
Notes receivable		143,112		917
Prepaid expenses and other current assets, net		627,090		1,733,208
Tax recoverable		938,979		768,949
Due from related parties		575,341		459,017
Total current assets		14,281,045		16,887,672
Property, plant and equipment, net		2,424,572		2,514,681
Right-of-use assets – Operating lease		85,221		11,151
Other non-current assets		11,252		518,003
Deferred tax assets		91,971		93,289
Total non-current assets		2,613,016		3,137,124
TOTAL ASSETS		16,894,061		20,024,796

Liabilities
Current liabilities:
Bank loans – current		655,492		667,511
Operating lease liabilities – current – related parties		88,139		11,646
Accounts payable, accruals and other current liabilities		1,359,470		1,805,032
Accounts payable – related parties		1,149,429		2,270,622
Accruals and other current liabilities		760,992		909,311
Dividend payables		400,455		27,713
Contract liabilities		360,475		320,941
Due to related parties		564,711		477,833
Total current liabilities		5,339,163		6,490,609

Non-current liabilities
Bank loans – non-current		1,381,750		1,052,662
Operating lease liabilities – non-current – related parties		-		-
Total non-current liabilities		1,381,750		1,052,662
TOTAL LIABILITIES		6,720,913		7,543,271

Shareholders’ equity
Ordinary shares US$0.000375 par value each; 136,000,000 shares authorized; 3,140,000 shares issued and outstanding respectively ⁽¹⁾		1,178		1,178
Additional Paid-in Capital		4,297,632		4,297,632
Retained earnings		5,874,338		8,182,715
Total shareholders’ equity		10,173,148		12,481,525
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		16,894,061		20,024,796

(1) Retroactively adjusted for the effects of the Reverse Stock Split:

On December 9, 2024, J-Long Group Limited implemented a 1-for-10 reverse stock split (share consolidation) of its ordinary shares. As a result, the par value of each share has increased, and the number of outstanding shares has decreased accordingly.

J-LONG GROUP LIMITED

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME

	For the six months ended September 30,
	2023			2024
	USD			USD
	(Unaudited)			(Unaudited)
Revenues		14,571,703			19,024,229
Cost of sales		10,589,566			13,735,774
Gross profit		3,983,137			5,288,455

Operating expenses:
Selling and marketing expenses		1,037,531			916,174
General and administrative expenses		1,411,237			1,981,326
Total operating expenses		2,448,768			2,897,500

Income from operations		1,533,369			2,390,955

Other income, net:
Other income		25,816			172,783
Currency exchange gain		222,203			273,999
Interest expenses, net		(81,420	)		(57,540	)
Total other income, net		166,599			389,242

Income before tax expense		1,699,968			2,780,197
Income tax expense		280,495			471,820
Net income		1,419,473			2,308,377

Other comprehensive income
Unrealized gain/losses on investment in marketable debt securities, net of tax		-			-
Total comprehensive income		1,419,473			2,308,377

Net income per share attributable to ordinary shareholders
Basic and diluted		0.47			0.74
Weighted average number of ordinary shares used in computing net income per share
Basic and diluted		3,000,000			3,140,000

Management’s Discussion and Analysis of Results of Operations and Liquidity and Capital Resources

Overview:

●

Revenue was approximately US$19.0 million for the six months ended September 30, 2024, representing an increase of approximately 30.6% from the same period in 2023.

●

Net income was approximately US$2.3 million for the six months ended September 30, 2024 (2023: approximately US$1.4 million), representing an increase of approximately 62.6% from the same period in 2023.

Six-Month Financial Results Ended September 30, 2024

Revenue. Revenue increased by approximately 30.6% from approximately US$14.6 million for the six months ended September 30, 2023, to approximately US$19.0 million for the six months ended September 30, 2024. The growth in revenue during the six-month period ended September 30, 2024, was primarily driven by a rise in orders from key customers, who had previously cleared excess inventory from the prior year.

Selling, general and administrative expenses. Selling, general and administrative expenses increased by approximately 18.3% from approximately US$2.4 million for the six months ended September 30, 2023, to approximately US$2.9 million for the six months ended September 30, 2024, which was mainly due to an increase in payroll to our staff and fees to our directors.

Other income, net. Other net income increased by approximately US$0.2 million from approximately US$0.2 million for the six months ended September 30, 2023, to approximately US$0.4 million for the six months ended September 30, 2024, which was mainly due to an increase in interest income.

Income tax expense. Income tax expense increased to US$0.5 million for the six months ended September 30, 2024 (for the six months ended September 30, 2023: approximately US$0.3 million) which was mainly due to the increase in net income.

Net income. Net income increased by approximately US$0.9 million to approximately US$2.3 million for the six months ended September 30, 2024 (for the six months ended September 30, 2023: approximately US$1.4 million), which was mainly due to the increase in revenue.

Basic and diluted EPS. Basic and diluted EPS were approximately US$0.74 per ordinary share for the six months ended September 30, 2024, as compared to US$0.47 per ordinary share for the six months ended September 30, 2023, respectively.

Liquidity and Capital Resources

As of September 30, 2024, the Company had cash of US$7,706,894, total current assets of US$16,887,672, and total current liabilities of US$6,490,609. Net current assets were US$10,397,063 and the working capital ratio was 2.6. As of September 30, 2024, the Company’s total assets and total liabilities amounted to US$20,024,796 and US$7,543,271, respectively. As of September 30, 2024, the Company’s total stockholder’s equity amounted to US$12,481,525 and its gearing ratio (bank loan divided by stockholder’s equity) was 13.8%.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements, including arrangements that would affect its liquidity, capital resources, market risk support, credit risk support, or other benefits.

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release, dated February 21, 2025

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	J-Long Group Limited

	By:	/s/ Edwin Wong
	Name:	Edwin Wong
	Title:	Chief Executive Officer and Director

Date: February 21, 2025

SEC Form 6-K filed by J-Long Group Limited