HAIKOU,
China, May 15, 2024 /PRNewswire/ -- JX Luxventure
Limited (Nasdaq: JXJT) (the "Company"), a technology company
engages in integrated tourism services, including tourism,
duty-free cross-border goods, and comprehensive e-commerce
technology solutions, today announced financial results
for the fiscal year ended December
31, 2023.
Financial Highlights for the full year ended December
31, 2023:
- Significant Profit Reversal: The Company recorded a net
profit of $3,043,779, representing a
significant improvement compared to 2022 when it reported a loss of
$55,383,281 for continuing
operations. This marks a substantial year-over-year increase of
$58,427,060 net profit.
- Increase in Net Profit Margin: The net profit margin for
2023 was 10%, a remarkable advancement from the zero net profit
margin in 2022.
- Earnings Per Share Soaring: Our basic earnings per share
for 2023 were $0.50, a substantial
rise from the loss of $43.70 per
share in 2022. This marks a notable year-over-year increase of
$44.20 per share.
Ms. Sun "Ice" Lei, Chief Executive Officer of the Company
commented: "2023 has been a year of efficiency for our
company. I take immense pride in our team's unwavering commitment
and dedication, which have been instrumental in propelling this
remarkable financial turnaround. Our primary objective was to
foster rapid revenue growth during the initial two years, paving
the way for profitability in 2023. Through meticulous execution and
fine-tuning of our business model, we have not only achieved but
exceeded our targets, realizing an impressive 10% net profit
margin.
As we adapt to the evolving global economic landscape in the
post-pandemic era, we will continue seizing growth opportunities
presented by the reopening of cross-border markets. While
consolidating and expanding our core tourism-related technical
services and auto import/export businesses, we will invest in
profitable new ventures to fortify the company's financial
resilience.
With these measures and the robust foundation we have
established, I am confident that our financial performance will
continue improving in the periods ahead. Our remarkable turnaround
lays a solid groundwork for sustained growth and industry
leadership in the years to come."
About JX Luxventure Limited
Headquartered in Haikou, China, JX Luxventure Limited is a technology
company engages in integrated tourism services, including tourism,
duty-free cross-border goods, and comprehensive e-commerce
technology solutions. 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 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.
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SOURCE JX Luxventure Limited
