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J-Long Group Limited Reports 30.6% Revenue Growth in Form 6-K for 2024

$JL
Form 6-K
Filed on: 2025-02-21
Source
J-Long Group Limited Reports 30.6% Revenue Growth in Form 6-K for 2024

Here are the key insights and information extracted from the financial report of J-Long Group Limited:

General Information:

  • Report Type: Form 6-K
  • Date of Report: February 21, 2025
  • Commission File Number: 001-41901
  • Address: Flat F, 8/F, Houston Industrial Building, 32-40 Wang Lung Street, Tsuen Wan, New Territories, Hong Kong.

Financial Performance Overview:

  • Reporting Period: Six months ended September 30, 2024.
  • Revenue: Approximately $19.0 million, reflecting a 30.6% increase from $14.6 million in the same period of 2023.
  • Net Income: Approximately $2.3 million, up 62.6% from $1.4 million in the prior year.
  • Basic and Diluted Earnings Per Share (EPS): Increased to approximately $0.74 from $0.47 in the previous year.

Financial Highlights:

  • Growth Factors: Increase in revenue attributed to a rise in orders from key customers who cleared excess inventory from the previous year.
  • Expense Growth: Selling, general and administrative expenses rose by approximately 18.3% to $2.9 million, primarily due to increased payroll and director fees.
  • Other Income: Net other income increased to approximately $0.4 million, mainly driven by higher interest income.

Assets and Liabilities:

  • Total Assets: $20,024,796 as of September 30, 2024.
  • Total Liabilities: $7,543,271.
  • Total Current Assets: $16,887,672.
  • Total Current Liabilities: $6,490,609.
  • Net Current Assets: $10,397,063.
  • Working Capital Ratio: 2.6.
  • Shareholders' Equity: $12,481,525.
  • Gearing Ratio: 13.8% (indicating the proportion of bank loans to stockholders' equity).

Additional Notes:

  • No Off-Balance Sheet Arrangements: The company disclosed that it has no off-balance sheet arrangements that would affect liquidity or capital resources.

Summary of Financial Statements:

  • The report provides unaudited consolidated balance sheets and statements of operations for the respective periods.
  • Detailed financial performance metrics illustrate the company's growth trajectory and improved profitability metrics.

This report signifies strong operational performance and improved financial health for J-Long Group Limited, indicating positive market demand and effective cost management strategies.