JX Luxventure Group Soars with 57% Revenue Surge and Sustained Profitability in FY 2024 Results

Rhea-AI Summary

JX Luxventure Group (Nasdaq: JXG) reported strong financial results for FY 2024, showcasing significant growth in key metrics. The company achieved revenue of $49.8 million, marking a substantial 57% increase from $31.8 million in 2023. Gross profit rose 53% to $8.4 million, up from $5.5 million in the previous year. Net profit reached $3.07 million, showing a modest 1% growth from $3.04 million in 2023. The company, which specializes in duty-free and cross-border consumer goods wholesale trade, attributes this performance to its three-year turnaround strategy initiated in 2020. CEO Sun "Ice" Lei expressed confidence in the company's strategic direction and commitment to maintaining profitability while expanding global presence.

Positive

• Revenue increased significantly by 57% to $49.8 million
• Gross profit grew by 53% to $8.4 million
• Maintained profitability with net profit of $3.07 million
• Successful execution of three-year turnaround strategy

Negative

• Net profit growth was minimal at 1% year-over-year
• Profit margins showed slight compression due to revenue growing faster than net profit

News Market Reaction

-2.36%

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-2.36% News Effect

On the day this news was published, JXG declined 2.36%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HAIKOU, China, May 15, 2025 /PRNewswire/ -- JX Luxventure Group Inc. (Nasdaq: JXG) (the "Company"), a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as  providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products, today announced financial results for the fiscal year ended December 31, 2024. 

Financial Highlights for the full year ended December 31, 2024:

• Revenue: The Company reported revenue of $49,840,288, an increase of $17,999,700 from $31,840,588 in 2023, representing a significant year-over-year growth of 57%.
  
  
• Profit: Gross profit reached $8,352,316, up $2,895,947 from $5,456,369 in 2023, reflecting a robust year-over-year increase of 53%. Net profit was $3,073,807, a modest increase of $30,028 from $3,043,779 in 2023, marking a year-over-year growth of 1%.

Ms. Sun "Ice" Lei, Chief Executive Officer of the Company commented: "Our 2024 financial results demonstrate the strength and foresight of our three-year turnaround strategy, launched in 2020. This year's strong performance, driven by significant revenue and gross profit growth, highlights our team's dedication to operational excellence and strategic market expansion. Achieving a net profit of $3.07 million reflects our ability to sustain profitability while navigating the dynamic wholesale trade and tourism sectors with financial discipline.

Looking ahead, we are poised to capitalize on this momentum, continuing to innovate and expand our global presence. Our team is committed to delivering transformative growth while maintaining profitability, and we are confident in our strategy to drive long-term value for our stakeholders in the years to come."

About JX Luxventure Group Inc.

Headquartered in Haikou, China, JX Luxventure Group Inc. is a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products.  To learn more about the Company, please visit its corporate website at https://www.jxluxventure.com/en/. 

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of JX Luxventure Group Inc., 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 JX Luxventure Group INC.

FAQ

What was JX Luxventure's (JXG) revenue growth in 2024?

JX Luxventure reported a 57% revenue growth in 2024, reaching $49.8 million compared to $31.8 million in 2023.

How much net profit did JXG generate in fiscal year 2024?

JX Luxventure generated a net profit of $3.07 million in FY 2024, a 1% increase from $3.04 million in 2023.

What was JX Luxventure's gross profit for 2024?

JX Luxventure's gross profit for 2024 was $8.35 million, up 53% from $5.46 million in 2023.

What is JX Luxventure's (JXG) main business?

JX Luxventure specializes in duty-free and cross-border consumer goods wholesale trade, providing integrated solutions including logistics, supply chain management, and technology solutions for tourism-related products.