JX Luxventure has completed the sale of its menswear business for US$10,000,000

Haikou, ChinaAnd the October 19, 2022 /PRNewswire/ – JX Luxventure Restricted (NASDAQ: JXJT) (the “Firm”), an organization that gives complete product options to world excessive internet value households served by our enterprise purchasers with enterprise segments protecting tourism, duty-free cross-border merchandise, e-commerce and B2B SAAS options, introduced right now that, October 19, 2022, the Firm has entered into and executed a share buy settlement (the “Settlement”) with Shenzhen Zhongjiyingfeng Funding Co., Ltd. (the “Purchaser”), and in accordance with the phrases of the Settlement, has accomplished the sale of its 100% possession in Hongri Worldwide Holding Restricted (“Hongri”), a completely owned subsidiary of the Firm by way of which the Firm has operated its menswear enterprise, to the Purchaser for an combination quantity of 10,000,000 USD (“Deal”). After the transaction is accomplished, the corporate will proceed to personal and function the tourism, duty-free cross-border merchandise enterprise, e-commerce, and B2B SAAS options.

Ms. Solar “Ice” Lee, CEO of the corporate stated: “This transaction is driving a great deal that can profit our shareholders, prospects and staff. Regardless of some challenges which were inherited by our present management workforce, our ongoing core enterprise stays robust. We’re assured that this sale is a The most effective path to offer the corporate with the assets to proceed financing and scaling the enterprise because it enters its subsequent part of development.Going ahead, we’ll give attention to investing within the development of our tourism, cross-border merchandise, e-commerce, and B2B SAAS options enterprise. We stay dedicated to delivering accelerated development and creating worth for our shareholders. .”

About JX Luxventure Restricted

based mostly in Haikou, ChinaJX Luxventure Restricted is a complete product options firm for world excessive internet value households served by our enterprise purchasers with enterprise segments protecting tourism, duty-free cross-border merchandise, e-commerce and B2B SAAS options. To be taught extra concerning the firm, please go to the corporate’s web site at en.jxluxventure.com.

Secure Harbor Assertion

This press launch could comprise sure “forward-looking statements” referring to the enterprise of JX Luxventure Restricted and its associates. All statements, aside from statements of historic info included right here, are “forward-looking statements” in nature inside the that means of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements are sometimes recognized by way of the usage of forward-looking phrases akin to “believes,” “expects” or Related expressions, involving each identified and unknown dangers and uncertainties. Though the Firm believes that the expectations mirrored in these forward-looking statements are affordable, they contain assumptions, dangers and uncertainties, and such expectations could also be incorrect. Buyers shouldn’t place undue reliance on these forward-looking statements, which converse solely as of the date of this press launch. The Firm’s precise outcomes could differ materially from these projected in these forward-looking statements as a consequence of a wide range of components, together with these mentioned within the Firm’s periodic stories to the Securities and Alternate Fee and out there on its web site (http://www.sec.gov). All forward-looking statements attributable to the Firm or individuals appearing on its behalf expressly qualify of their entirety beneath these components. Aside from as required by securities legal guidelines, the Firm has no obligation to replace these forward-looking statements.

SOURCE JX Luxventure Restricted

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