HAIKOU,
China, Oct. 3, 2022 /PRNewswire/ -- JX Luxventure
Limited (Nasdaq: LLL) (the "Company"), a company delivering
comprehensive products solutions to global high-net-worth families
serviced by our business customers with business segments covering
tourism, duty-free cross-border merchandise, eCommerce and B2B SAAS
solutions, and menswear, announced today that on October 3, 2022, Flower Crown (China) Holding Group Co., Ltd. ("JXFC"), a
wholly owned subsidiary of the Company, entered into and executed a
Strategic Cooperation Framework Agreement (the "Agreement")
with Hainan Hang Seng Zhongli Commercial Holding Co.,
Ltd. ("HS Zhongli"), a leading distributor of pet products in
China, for the sale, marketing and
distribution of JXFC's pet food products by HS Zhongli. The
Agreement provides that the target annual sales amount of JXFC's
pet food products is $20,000,000 and
if HS Zhongli achieves this targeted annual sales amount, the
Agreement will be automatically renewed for an additional year.
Ms. Sun "Ice" Lei, Chief Executive Officer of the Company
commented: "The signing of this Agreement is significant for us as
we enter into the 4th quarter of 2022 in a rapidly
evolving macro environment. Following the execution of this
Agreement, we have signed over US$160,000,000 contracts since March of 2022,
which enables us to achieve strong revenue growth as a result of
our business transformation. Pet food products continue to be in
recession-resistant demand and this validates the management's
decision to expand into the cross-border pet-food sector, as it
provides robust growth and a healthy profit margin. This is the
second year of the three-year turn-around strategy, and we are very
pleased with the execution thus far. Our non-menswear business is
on course to achieve profitability on an adjusted basis in 2022.
Looking forward, we are confident we will deliver a brighter and
more profitable 2023 result for our shareholders."
About JX Luxventure Limited
Headquartered in Haikou, China, JX Luxventure Limited is a company
delivering comprehensive products solutions to global
high-net-worth families serviced by its business customers with
business segments covering tourism, duty-free cross-border
merchandise, eCommerce and B2B SAAS solutions, and menswear.
To learn more about the Company, please visit its corporate
website at en.jxluxventure.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of JX Luxventure 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 due to a variety of factors,
including those discussed in the Company's periodic reports 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 JX Luxventure Limited