JX Luxventure Limited (NASDAQ: LLL), based in Haikou, China, announced a new cooperation with Global Premium Buy (GPBL) on December 30, 2021. Through its subsidiary, Flower Crown, the Company will launch an online store on GPBL's e-commerce platform. This agreement enhances JX's visibility by utilizing GPBL's connections with popular content platforms like Tik Tok and Dou Yin, enabling broader access to its cross-border merchandise. CEO Ms. Sun Lei expressed optimism about the partnership's potential to expand customer reach and build on previous successes.
JX Luxventure Limited (NASDAQ: LLL) announced the removal of its variable interest entity (VIE) structure, becoming the sole shareholder of its Flower Crown China Entities effective December 13, 2021. This reorganization was approved by the Board of Directors and shareholders holding 60.4% of the company’s stock. CEO Sun 'Ice' Lei highlighted a 20% revenue increase in the first half of 2021 compared to the entire previous year, emphasizing enhanced corporate governance and direct ownership of operating companies. The company aims to maintain growth momentum through the end of 2021.
JX Luxventure Limited (NASDAQ: LLL) has successfully closed a private placement of 100,000 shares of its newly designated Series D Convertible Preferred Stock, raising $3,900,000. The shares were issued to an accredited investor and approved by the company's board and a majority of its shareholders. The Series D stock is convertible into common stock on a 1 to 13 basis but is limited to ensure that no holder exceeds 9.99% ownership of common stock. For 2021, the company reported a 20% revenue increase in the first half compared to the entire previous year.