HAIKOU,
China, May 17, 2022 /PRNewswire/ -- JX Luxventure
Limited (Nasdaq: LLL) (the "Company"), a company delivering
comprehensive products solutions to global elite families serviced
by our business customers with business segments covering menswear,
cross-border merchandise and tourism, announced that its board
of directors (the "Board") has formed a special board committee
consisting of Li Hui Dan, Chairman
of the Board, Mu Ruifeng, Chairman of the Audit Committee and Mr.
Jin Yan, a member of the Audit
Committee, to explore a potential sale of the menswear segment of
the Company's business operation.
Ms. Sun "Ice" Lei, Chief Executive Officer of the Company
commented: "We have experienced a decrease in sales revenue and
increase in loss of menswear
segment of our business for several years, including in 2021.
The management of the Company evaluated this trend and determined
that there is no viable short-term strategy to make our menswear
business profitable and that a potential sale of the menswear
segment of our business would allow the Company to focus on the two
fast-growing segments of our business operations: the cross-border
merchandise and tourism. The operations of
these two segments achieved a record revenue of US$54,040,948 in 2021, an increase of 4046% from
revenue of US$1,335,374 in 2020 and
will be the engine to fuel our growth through 2022 and
beyond.
About JX Luxventure Limited
Headquartered in Haikou, China,
JX Luxventure Limited is a company delivering comprehensive
products solutions to global elite families serviced by our
business customers with business segments covering menswear,
cross-border merchandise and tourism. Its business segments
cover 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 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