J-Long Group Ltd 6-K, filed Mar 27, 2024

J-Long Group Ltd (JL)

6-K 2024-03-27 For: 2024-03-27

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Added on April 11, 2026

About this 6-K

J-Long Group Ltd filed this 6-K on March 27, 2024.

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	As of
	March 31,			September 30,
	2023			2023
	USD			USD
	(Audited)			(Unaudited)
Assets
Current assets:
Cash and cash equivalents		5,959,927			768,159
Accounts receivable, net		2,085,776			1,905,455
Accounts receivable, net – related parties		17,562			66,298
Investment in marketable debt securities		243,284			44,070
Inventories		5,785,616			6,676,754
Notes receivable		393,442			-
Prepaid expenses and other current assets, net		126,208			248,219
Due from related parties		2,109,768			7,309,404
Total current assets		16,721,583			17,018,359
Property, plant and equipment, net		2,367,136			2,313,122
Right-of-use assets – Operating lease		447,475			262,831
Deferred cost		989,793			1,079,762
Deferred tax assets		79,626			79,626
Total non-current assets		3,884,030			3,735,341
TOTAL ASSETS		20,605,613			20,753,700

Liabilities
Current liabilities:
Bank loans – current		626,657			626,657
Operating lease liabilities – current		7,151			-
Operating lease liabilities – current – related parties		359,658			258,322
Accounts payable, accruals and other current liabilities		3,167,676			3,169,449
Accounts payable – related parties		2,382,072			1,625,969
Contract liabilities		231,475			-
Due to related parties		240,375			158,182
Income taxes payable		140,236			420,731
Total current liabilities		7,155,300			6,259,310

Non-current liabilities
Bank loans – non-current		2,014,375			1,715,472
Operating lease liabilities – non-current – related parties		88,139			11,646
Total non-current liabilities		2,102,514			1,727,118
TOTAL LIABILITIES		9,257,814			7,986,428

Commitments and contingencies		—			—

Shareholders’ equity
Ordinary shares US$0.0000375 par value each; 1,360,000,000 shares authorized; 30,000,000 shares issued and outstanding		1,125			1,125
Additional Paid-in Capital		256,410			256,410
Accumulated other comprehensive income/(loss)		(414	)		(414	)
Retained earnings		11,090,678			12,510,151
Total shareholders’ equity		11,347,799			12,767,272
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		20,605,613			20,753,700

	For the six months ended September 30,
	2022			2023
	USD			USD
	(Unaudited)			(Unaudited)
Revenues		22,384,724			14,571,703
Cost of sales		16,579,568			10,589,566
Gross profit		5,805,156			3,982,137

Operating expenses:
Selling and marketing expenses		1,040,775			1,037,531
General and administrative expenses		966,350			1,411,237
Total operating expenses		2,007,125			2,448,768

Income from operations		3,798,031			1,533,369

Other income (expenses):
Other income (expenses)		183,497			25,816
Currency exchange gain		124,306			222,203
Interest (expenses) income, net		(45,255	)		(81,420	)
Total other income (expense)		262,548			166,599

Income before tax expense		4,060,579			1,699,968
Income tax expense		670,013			280,495
Net income		3,390,566			1,419,473

Other comprehensive income/(loss)
Unrealized gain (losses) on investment in marketable debt securities, net of tax		-			-
Total comprehensive income		3,390,566			1,419,473

Net income per share attributable to ordinary shareholders
Basic and diluted		0.11			0.05
Weighted average number of ordinary shares used in computing net income per share
Basic and diluted		30,000,000			30,000,000

Exhibit No.		Description
99.1		Press Release, dated March 25, 2024

	J-Long Group Limited

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

J-LONG GROUP LIMITED UNAUDITED CONSOLIDATED BALANCE SHEETS

	As of
	March 31,			September 30,
	2023			2023
	USD			USD
	(Audited)			(Unaudited)
Assets
Current assets:
Cash and cash equivalents		5,959,927			768,159
Accounts receivable, net		2,085,776			1,905,455
Accounts receivable, net – related parties		17,562			66,298
Investment in marketable debt securities		243,284			44,070
Inventories		5,785,616			6,676,754
Notes receivable		393,442			-
Prepaid expenses and other current assets, net		126,208			248,219
Due from related parties		2,109,768			7,309,404
Total current assets		16,721,583			17,018,359
Property, plant and equipment, net		2,367,136			2,313,122
Right-of-use assets – Operating lease		447,475			262,831
Deferred cost		989,793			1,079,762
Deferred tax assets		79,626			79,626
Total non-current assets		3,884,030			3,735,341
TOTAL ASSETS		20,605,613			20,753,700

Liabilities
Current liabilities:
Bank loans – current		626,657			626,657
Operating lease liabilities – current		7,151			-
Operating lease liabilities – current – related parties		359,658			258,322
Accounts payable, accruals and other current liabilities		3,167,676			3,169,449
Accounts payable – related parties		2,382,072			1,625,969
Contract liabilities		231,475			-
Due to related parties		240,375			158,182
Income taxes payable		140,236			420,731
Total current liabilities		7,155,300			6,259,310

Non-current liabilities
Bank loans – non-current		2,014,375			1,715,472
Operating lease liabilities – non-current – related parties		88,139			11,646
Total non-current liabilities		2,102,514			1,727,118
TOTAL LIABILITIES		9,257,814			7,986,428

Commitments and contingencies		—			—

Shareholders’ equity
Ordinary shares US$0.0000375 par value each; 1,360,000,000 shares authorized; 30,000,000 shares issued and outstanding		1,125			1,125
Additional Paid-in Capital		256,410			256,410
Accumulated other comprehensive income/(loss)		(414	)		(414	)
Retained earnings		11,090,678			12,510,151
Total shareholders’ equity		11,347,799			12,767,272
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		20,605,613			20,753,700

		Page
Unaudited Consolidated Balance Sheet as of September 30, 2023 and Audited Consolidated Balance Sheet as of March 31, 2023		2
Unaudited Consolidated Statements of Income and Comprehensive Income for the Six-Month Periods Ended September 30, 2023 and 2022		3