SHISHI, China, April 12, 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, announced today that the Board of Directors
have formed an Environmental, Social and Governance Committee ("ESG
Committee"). Mr. Li Hui Dan,
Co-Chairman of the Board will chair the ESG Committee.
The ESG Committee will focus on KBSF's performance as a steward
of nature, its relationship with employees, suppliers, customers,
and the communities where it operates as well as its
governance.
Mr. Li Hui Dan, Co-Chairman of
the Board commented: "ESG is the foundation for a company's
longevity. I am honored to be the Chair of the ESG Committee
and my initial focus will focus on minimize the impact of our
technology and business operation on environment, especially carbon
footprint, and community outreach. The ESG committee will
meet the high standard set by our board."
On March 24, 2021, through Hua Zhi
Guan (Hainan) Cross-Border
E-Commerce Co., Ltd, Luxventure closed a Digital RMB Acceptance
Agreement ("Agreement") with Lakala Payment Co., Ltd.
("LKL"), a leading third-party on-line payment operator. The
Agreement was entered into on March 24,
2020 and the transaction closed on the same date. Pursuant
to the Agreement, Luxventure will cooperate with LKL in connection
with acceptance of Digital Renminbi.
Ms. Sun Lei, Chief Executive
Officer of the Company commented: "Digital Renminbi will be the
future of digital payment in China. We are honored for this
cooperation with LKL for Digital Renminbi as acceptance of payment.
This is another testament to our focus on
Blockchain. We look forward to further implement our
Blockchain strategy under the leadership of our Chief Technology
Officer, Liu Zie."
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