Hong Kong, November 22, 2024 – J-Long Group Limited (Nasdaq: JL), a Hong Kong-based distributor of garment trims (including heat transfers, fabrics, woven labels, tapes, badges, piping, zipper pulls, and drawcords), announced a 1-for-10 reverse stock split of its ordinary shares, effective December 3, 2024, at 11:59 pm. This action is to meet Nasdaq’s minimum $1.00 bid price requirement (Marketplace Rules 5550(a)(2) and 5450(a)(1)). Trading under the “JL” ticker symbol will resume on December 4, 2024, adjusted for the split.

Shareholders previously approved the reverse stock split at a November 18, 2024 special meeting, authorizing the board to set the ratio and implementation date. An amendment to the company’s Memorandum and Articles of Association will formalize the 1-for-10 consolidation.

The CUSIP number for the company’s ordinary shares will change.

Effective December 3, 2024, every 10 pre-split shares will become one post-split share. The authorized shares will decrease from 30,000,000 to 3,000,000, with a revised par value of $0.000375 per share. Fractional shares will not be issued; any fractional entitlement will be rounded down to the nearest whole share.

Outstanding stock options and warrants will be proportionally adjusted, as will their exercise prices and stock price targets.

VStock Transfer, LLC, will handle the exchange. Registered shareholders holding shares electronically need no action. Those with shares in brokerage accounts (“street name”) will see automatic adjustments, subject to broker processes.

Disclaimer: Forward-looking statements

This release includes forward-looking statements (Private Securities Litigation Reform Act of 1995). These statements, regarding the reverse stock split’s effectiveness in raising share price, marketability, liquidity, investor appeal, and maintaining Nasdaq listing, are not historical facts. Such statements, often using terms like “believes,” “estimates,” “expects,” “may,” “will,” “should,” “plans,” or similar, involve risks and uncertainties. Actual results could differ materially. These statements reflect current management expectations and assumptions, but no assurance of their occurrence can be given. J-Long Group Limited is not obligated to update forward-looking statements unless required by law.

Review filings with the Securities and Exchange Commission (SEC) for further details. SEC filings are available at [website address omitted].

Hong Kong:

J-Long Group Limited
Edwin Chun Yin Wong, CEO and Director
 +852 3693 2110