LLL - LLL STOCK NEWS

On October 10, 2022, JX Luxventure Limited (Nasdaq: JXJT) announced a binding memorandum of understanding (MOU) with Shenzhen Zhongjiyingfeng Investment Co., Ltd. to sell its menswear business, Hongri International Holding Limited, for US$10 million. This strategic divestment aims to refocus resources on more profitable segments such as tourism, cross-border merchandise, and eCommerce. The menswear segment has struggled post-COVID-19, incurring significant losses, making this sale a pivotal move for enhancing overall profitability and shareholder value.

JX Luxventure Limited (NASDAQ: JXJT) announced a change in its trading symbol from LLL to JXJT, effective October 10, 2022. Trading commenced under the new symbol on the Nasdaq Capital Market, aiming to enhance the visibility of the company. JX Luxventure provides product solutions across several segments including tourism, duty-free merchandise, eCommerce, B2B SAAS, and menswear. The company services global high-net-worth families and is headquartered in Haikou, China.

JX Luxventure Limited (Nasdaq: LLL) announced a Strategic Cooperation Framework Agreement with HS Zhongli for the distribution of its pet food products in China. The agreement aims for annual sales of $20,000,000, with automatic renewal if targets are met. Since March 2022, the company has secured contracts worth over $160,000,000, indicating strong revenue growth amid a transformation strategy. The CEO expressed confidence in achieving profitability in their non-menswear sector in 2022, and a brighter outlook for 2023.

JX Luxventure Limited (LLL) reported a remarkable 312% revenue increase for the six months ended June 30, 2022, reaching $52.3 million compared to $12.7 million in the same period last year. The travel and duty-free sectors contributed $51.5 million to this growth. With reduced net cash used in operations by $0.2 million and ongoing investments, the Company anticipates profitability in 2023. A significant expansion in its product offerings, including high-end pet food, positions the Company favorably going forward.

On July 26, 2022, JX Luxventure Limited (Nasdaq: LLL) announced a significant Cooperation Agreement with Kaiwo International Trading Co., Ltd., marking their entry into the high-end automobile market. The agreement allows Kaiwo to sell luxury automobiles under JX Hainan, with a total value of up to USD50,000,000. CEO Sun 'Ice' Lei emphasized the strong demand for luxury vehicles in China and expressed optimism for the cross-border merchandise segment, projecting it to be a key revenue driver for 2022.

JX Luxventure Limited (Nasdaq: LLL) announced an Employment Agreement for CEO Sun Lei, effective July 12, 2022. The agreement stipulates a cash compensation of $1.00 and stock-based compensation tied to 2022 performance metrics. Key incentives include sharing options: 25,000 shares for revenue between $59M - $99.99M, 50,000 shares for $100M+, and additional shares tied to operational profit margins. The Board underscores Sun’s leadership in achieving the company’s turnaround strategy and ongoing revenue growth, aiming for sustained success.

On June 20, 2022, JX Luxventure Limited (LLL) announced a $5 million share repurchase program to be executed over the next year, aimed at boosting shareholder confidence. The funds will be provided by CEO Sun "Ice" Lei. This decision comes as the Board believes the current stock price undervalues the company. Additionally, JX Hainan, a subsidiary, signed a $30 million agreement with Hainan Douxing for cross-border merchandise sales through live streaming. The deal marks the fourth major contract this year, expected to significantly increase revenue.

JX Luxventure Limited (Nasdaq: LLL) announced its nomination for the "Best Software Solution Provider" at the 2022 Fifth Annual Global Cross-border E-Commerce Forum, held on June 2, 2022. As the only early-stage company nominated, JX Luxventure is recognized alongside major players like Oracle China and Shoplazza. CEO Ms. Sun "Ice" Lei highlighted the contribution of their technology team and the recent signing of a $1 million Technology Consulting Agreement on June 1, marking a significant start to this new business segment.

JX Luxventure Limited (Nasdaq: LLL) announced a Technology Consulting Agreement with Tianjin City Wei Ka Technology Co., Ltd. on June 1, 2022. Through this agreement, JX Hainan, a subsidiary of JX Luxventure, will provide consulting services to help Tianjin Wei Ka enter the Metaverse by developing an NFT-based virtual human host for live streaming platforms. CEO Ms. Sun Lei emphasized the company's recent award for 'Best Virtual Human Software Technology Service Provider' and expressed confidence in leveraging its expertise in AI and blockchain to grow this key business segment.