SHISHI, China, May 17, 2021
/PRNewswire/ -- KBS Fashion Group Limited ("KBS" or the "Company")
(NASDAQ: KBSF), a leading fully-integrated casual menswear company
in China and the operator of
Luxventure, a social media platform, today announced that it filed
its annual report on Form 20-F for the fiscal year ended
December 31, 2020 with the U.S.
Securities and Exchange Commission ("SEC") on May 17, 2021. The annual report can be accessed
on the SEC's website at http://www.sec.gov.
Ms. Sun Lei, Chief Executive
Officer of the Company commented: "We are excited about the growth
of Luxventure, our social media based cross-border E-commerce
platform. Since the platform launch during the third quarter of
2020, it generated a revenue of USD1,355,374, which is a growth of 1,355,374%. We
look forward to Luxventure becoming a significant contributor to
revenue in 2021, as our menswear business works to recover from the
impact of COVID-19."
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About KBS Fashion Group Limited
Headquartered in Shishi, China, KBS Fashion Group Limited,
through its subsidiaries, is engaged in the business of i)
designing, manufacturing, selling and distributing its own casual
menswear brand, KBS, through a network of 30 KBS branded
stores (as of Dec 31, 2019) and over a number of
multi-brand stores. KBS Fashion Group is the operator of
Luxventure, a social media platform. To learn more about the
Company, please visit its corporate website
at www.kbsfashion.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of KBS Fashion Group Limited,
and its subsidiary companies. All statements, other than statements
of historical fact included herein, are "forward-looking
statements" in nature within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements,
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov).
All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their
entirety by these factors. Other than as required under the
securities laws, the Company does not assume a duty to update these
forward-looking statements.
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SOURCE KBS Fashion Group Limited