JX Luxventure and China Southern Airline Team Up to Export Pre-Owned New Energy Vehicles

Rhea-AI Summary

On March 7, 2023, JX Luxventure Limited (Nasdaq: JXJT) announced a Memorandum of Understanding (MOU) with China Southern Air Cross-Border E-Commerce (Hainan) Co., Ltd. to export pre-owned new energy vehicles. The partnership is expected to enhance JX Luxventure's product solutions for high-net-worth families by leveraging its expertise in the vehicle market and China Southern Airline's cross-border capabilities. CEO Ms. Sun Lei highlighted that this collaboration will create significant value for customers and shareholders. JX Luxventure operates in segments like tourism, duty-free merchandise, e-commerce, and B2B SaaS.

Positive

• Strategic partnership with China Southern Airline to export pre-owned new energy vehicles.
• Partnership aims to create significant value for customers and shareholders.
• Leverages expertise in pre-owned vehicle market alongside cross-border capabilities.

Negative

• None.

News Market Reaction – JXJT

-9.86%

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-9.86% News Effect

On the day this news was published, JXJT declined 9.86%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HAIKOU, China, March 9, 2023 /PRNewswire/ -- JX Luxventure Limited (Nasdaq: JXJT) (the "Company"), a company delivering comprehensive products solutions to global high-net-worth families serviced by our business customers with business segments covering tourism, duty-free cross-border merchandise, e-commerce, and B2B SAAS solutions, today announced that on March 7, 2023, it has entered into a Memorandum of Understanding ("MOU") with China Southern Air Cross-Border E-Commerce (Hainan) Co., Ltd. ("China Southern Airline") in connection with exporting pre-owned new energy vehicles.  

Ms. Sun "Ice" Lei, Chief Executive Officer of the Company said: ""We are thrilled to announce this strategic partnership with China Southern Airline, which represents a major step forward in our efforts to deliver comprehensive products solutions to global high-net-worth families. By leveraging our expertise in the pre-owned new energy vehicle market and China Southern Airline's cross-border capabilities, we believe we can create significant value for our customers and shareholders alike. We look forward to working closely with China Southern Airline to explore new business opportunities and drive growth in the years ahead."

About JX Luxventure Limited

Headquartered in Haikou, China, JX Luxventure Limited is a company delivering comprehensive products solutions to global high-net-worth families serviced by our business customers with business segments covering tourism, duty-free cross-border merchandise, eCommerce and B2B SAAS solutions. 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.

View original content:https://www.prnewswire.com/news-releases/jx-luxventure-and-china-southern-airline-team-up-to-export-pre-owned-new-energy-vehicles-301767727.html

SOURCE JX Luxventure Limited

FAQ

What is the partnership between JXJT and China Southern Airline about?

JXJT's partnership with China Southern Airline focuses on exporting pre-owned new energy vehicles.

When was the MOU between JXJT and China Southern Airline announced?

The MOU was announced on March 7, 2023.

What does JXJT specialize in?

JXJT specializes in providing comprehensive product solutions for high-net-worth families, including tourism, e-commerce, and B2B SaaS.

How does the partnership affect JXJT's business?

The partnership is expected to enhance JXJT's market offerings and create significant value for customers and shareholders.