- A total amount of USD150,000,000 major contracts signed in
2022
HAIKOU,
China, July 26, 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 menswear, cross-border merchandise and
tourism, announced today that its subsidiary, Jin Xuan
(Hainan) Holding Co.,
Ltd. ("JX Hainan"), entered into and executed a Cooperation
Agreement (the "Agreement") with Kaiwo
International Trading Co., Ltd. ("Kaiwo") on
July 26, 2022, which is the first day
of the China International Consumer Products Expo held in
Haikou. Kaiwo is an automobile
distributor and holds one of the limited number of duty-free car
importer licenses ("Duty Free Import License") in China.
Pursuant to the Agreement, Kaiwo will sell high-end foreign luxury
automobiles supplied by JX Hainan under the Duty-Free Import
License in the amount of up to USD50,000,000.
Ms. Sun "Ice" Lei, Chief Executive Officer of the Company,
commented: "The demand for high end foreign luxury automobiles
remains strong in China, the
world's largest automobile market. We have decided to expand into
the high-end automobile business through our cross-border
merchandise segment to capture the market potential. We are
pleased to sign our first major automobile contract and start
building the business relationship with Kaiwo. I believe our
cross-border merchandise business segment will transform into a
significant revenue contributor in 2022."
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 our
business customers with business segments covering menswear,
cross-border merchandise and tourism. 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 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 JX Luxventure Limited
