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JX Luxventure Limited (Nasdaq: LLL) announced the signing of major contracts totaling USD100,000,000 in 2022, enhancing their revenue prospects. On May 21, 2022, its subsidiary, Beijing Heyang International Travel Service, executed a Group Airline Ticket Framework Agreement with Tianjin China Travel for sales worth USD10,000,000. CEO Ms. Sun 'Ice' Lei expressed confidence that these agreements position the company for substantial revenue growth this year.
JX Luxventure Limited (Nasdaq: LLL) has formed a special board committee to explore the potential sale of its menswear segment due to ongoing revenue declines and increased losses. CEO Ms. Sun Lei highlighted that the menswear segment has been unprofitable for several years, including a decrease in sales in 2021. In contrast, the cross-border merchandise and tourism segments achieved record revenue of US$54,040,948 in 2021, marking a remarkable 4046% increase from the previous year. The company aims to focus its growth strategy on these two promising segments.
JX Luxventure Limited (Nasdaq: LLL) reported a substantial revenue increase of 446%, reaching US$59.01 million for the year ending December 31, 2021, compared to US$10.88 million in 2020. The non-menswear sectors, particularly cross-border merchandise and tourism, significantly contributed US$54,040,948, marking a dramatic growth of 4046%. However, the company incurred losses primarily due to its menswear segment. With contracts worth US$90,000,000 signed, the company aims for profitability in the near term.
JX Luxventure Limited (Nasdaq: LLL) has been awarded the "Annual Most Growth Enterprise" by the Shenzhen Cross-border E-Commerce Association on May 2, 2022. This accolade supports its turnaround strategy that began in 2021, focusing on revenue growth. CEO Ms. Sun Lei highlighted that cross-border merchandise remains pivotal for their financial success, reinforced by two significant contracts totaling $90,000,000 signed in March and April 2022.
On April 26, 2022, JX Luxventure Limited (Nasdaq: LLL), a service provider for elite families, announced it received the 'Best Virtual Human Software Technology Service Provider' award from iiMedia Research on April 22, 2022. CEO Sun 'Ice' Lei highlighted the company's innovation in the Metaverse, particularly its virtual influencer 'Little L', designed to shape future digital marketing. Lei's leadership aims to implement this technology within the Cross-Border Merchants Association of Hainan Province, which could enhance business strategies for its members.
JX Luxventure Limited (Nasdaq: LLL) announced the appointment of Ms. Ting Ting Jiang as its new Director of Marketing, effective April 13, 2022. With over 15 years of experience in brand promotion and marketing, Ms. Jiang has held senior roles, including at HC Group and Wetrade Group INC. CEO Ms. Sun Lei expressed excitement over Jiang's confidence in the company's growth and her role in enhancing brand visibility and online distribution. This strategic hire aims to strengthen Luxventure's market presence.
On April 4, 2022, JX Luxventure Limited (LLL) announced a strategic cooperation agreement with Ragdoll International Trading Co., Ltd. to supply up to USD 30 million worth of cross-border pet foods. This deal marks the second major pet food contract for Luxventure this month, contributing to a total of USD 90 million in contracts. The growth into the pet food sector is significant, as China's pet food market is valued at approximately USD 1.2 billion. This strategic move positions the company to capitalize on new revenue streams.
On March 21, 2022, JX Luxventure Limited (Nasdaq: LLL) announced a strategic cooperation agreement with Chongqing E-Pet Technology Co., Ltd., aimed at distributing up to USD 60 million in cross-border pet foods in China. This partnership opens new channels for JX Luxventure, highlighting the growing demand in the cross-border pet food market. CEO Ms. Sun "Ice" Lei emphasized the positive outlook for 2022 following a strong revenue year in 2021. The deal marks a significant milestone and aligns with the company's expansion strategy.
JX Luxventure Limited (NASDAQ: LLL) announced a Strategic Cooperation Framework Agreement with Aikayun Technology, granting exclusive distribution rights for cross-border products from Japan in Hainan, valued at up to RMB1,000,000,000. This agreement aims to meet the heightened demand for Japanese products during China's COVID-19 restrictions. Additionally, the company plans to enter the Metaverse with NFT-based projects led by its CTO, Liu Ze, emphasizing the integration of Blockchain, IoT, and AI technologies.
JX Luxventure Limited (NASDAQ: LLL) announced a strategic partnership with Xin Hua Fund Co., Ltd. on February 9, 2022. This agreement, executed by its subsidiary JX Hainan, focuses on introducing high-end Japanese medical, rehabilitation, and beauty services to the Chinese market. CEO Ms. Sun Lei emphasized that this venture is part of their expansion strategy, aiming for significant revenue growth and profitability in a high-margin sector, which complements their existing business segments.
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