JX Luxventure Forms Second Major Partnership with China Southern Airline in Less Than a Week for Pet Food Distribution in China

Rhea-AI Summary

On March 13, 2023, JX Luxventure Limited (Nasdaq: JXJT) announced a Memorandum of Understanding (MOU) with China Southern Air Cross-Border E-Commerce (Hainan) Co., Ltd. to utilize their distribution channels for selling imported pet foods in China. This partnership marks the second agreement within a week, indicating the company's proactive approach to expanding its market presence. CEO Ms. Sun "Ice" Lei expressed optimism about reaching more pet owners and providing high-quality products. JX Luxventure focuses on sectors such as tourism, duty-free merchandise, e-commerce, and B2B SAAS solutions, targeting high-net-worth families globally.

Positive

• Formation of a partnership with China Southern Airline for pet food distribution.
• Second major cooperation with China Southern Airline in less than a week.
• Potential expansion of customer base in China's pet food market.

Negative

• None.

News Market Reaction – JXJT

-4.35%

1 alert

-4.35% News Effect

On the day this news was published, JXJT declined 4.35%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HAIKOU, China, March 13, 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 12, 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 JXJT using the distribution channels of China Southern Airline for selling imported pet foods.

Ms. Sun "Ice" Lei, Chief Executive Officer of the Company said: "We are pleased to enter into this MOU with China Southern Airline to leverage their distribution channels for selling imported pet foods. This partnership will enable us to expand our customer base and provide more high-quality products to pet owners in China. It's worth noting that this is the second major cooperation between JX Luxventure Limited and China Southern Airline in less than a week, which demonstrates our commitment to exploring new business opportunities and strengthening our strategic partnerships in China's growing market."

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-forms-second-major-partnership-with-china-southern-airline-in-less-than-a-week-for-pet-food-distribution-in-china-301769991.html

SOURCE JX Luxventure Limited

FAQ

What is the recent partnership announcement by JX Luxventure Limited?

JX Luxventure Limited announced a partnership with China Southern Air Cross-Border E-Commerce to sell imported pet foods in China.

When was the Memorandum of Understanding signed by JX Luxventure Limited?

The Memorandum of Understanding was signed on March 12, 2023.

What are JX Luxventure Limited's business segments?

The business segments include tourism, duty-free merchandise, e-commerce, and B2B SAAS solutions.

How does the new partnership with China Southern Airline impact JX Luxventure Limited?

The partnership is expected to help expand JX Luxventure's customer base and market presence in China.

What is the stock symbol for JX Luxventure Limited?

The stock symbol for JX Luxventure Limited is JXJT.