SEC Form 6-K filed by JX Luxventure Limited

$JXJT
Apparel
Consumer Staples
Get the next $JXJT alert in real time by email
6-K 1 ea0223877-6k_jxluxvent.htm REPORT OF FOREIGN PRIVATE ISSUER

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of December 2024

 

Commission File Number 001-35715

 

JX Luxventure Limited

(Translation of registrant’s name into English)

 

Bin Hai Da Dao No. 270

Lang Qin Wan Guo Ji Du Jia Cun Zong He Lou

Xiu Ying District

Haikou City, Hainan Province 570100

People’s Republic of China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 

 

On December 6, 2024, JX Luxventure Limited (the “Company”) announced our unaudited financial results for 6 months ended on June 30, 2024. The Company’s unaudited interim condensed financial statements for the six months ended June 30, 2024 and 2023 are set forth below. On December 6, 2024, the Company issued a press release of the 6 months report furnished herewith as Exhibit 99.1.

 

   As of 
  

June 30,
2024

USD

  

December 31,
2023

USD

 
Non-current assets        
Property, plant and equipment-net   2,455,557    2,425,537 
Intangible assets   18,600,374    - 
    21,055,931    2,425,537 
Current assets          
Trade receivables   1,013,374    402,820 
Other receivables and prepayments   2,990,670    18,682,733 
Cash and cash equivalents   877,051    407,311 
    4,881,095    19,492,864 
Total assets   25,937,026    21,918,401 
           
Current liabilities          
Short term bank loan   619,221    - 
Trade and other payables   2,614,195    2,235,988 
Due to related parties   4,632,754    3,330,518 
Advance from customer   343,119    1,197,200 
    8,209,289    6,763,706 
Total liabilities   8,209,289    6,763,706 
           
Equity          
Share capital   606    606 
Series A equity interest with preferential rights   1,240,000    1,240,000 
Series C equity interest with preferential rights   1,500,000    1,500,000 
Series D equity interest with preferential rights   3,120,000    3,120,000 
Share premium   77,965,011    77,965,011 
Other reserve   6,269,108    6,269,108 
Statutory surplus reserve   -    - 
Accumulated deficit   (71,511,120)   (74,407,738)
Foreign currency translation reserve   (855,868)   (532,292)
    17,727,737    15,154,695 
Total liabilities and equity   25,937,026    21,918,401 

 

1

 

 

   For the six months ended 
  

June 30,
2024
USD

  

June 30,
2023
USD

 
         
Revenue   28,183,431    21,533,147 
Cost of sales   (23,831,263)   (18,294,344)
Gross profit   4,352,168    3,238,803 
           
Other income   87,626    489 
Other gain/(losses)   (504)   53,813 
Distribution and selling expenses   (1,084)   (60,271)
Administrative expenses   (1,539,455)   (843,434)
Profit from operations   2,898,751    2,389,400 
           
Finance costs   (2,133)   - 
           
Profit before tax   2,896,618    2,389,400 
           
Income tax expense   -    - 
           
Profit for the period   2,896,618    2,389,400 
           
Other comprehensive loss          
- currency translation differences   (538,553)   (493,962)
Total comprehensive income for the period   2,358,065    1,895,438 
           
Profit per share of common stock attributable to the Company          
- Basic   0.48    0.39 
- Diluted   0.45    0.38 
Weighted average shares outstanding:          
- Basic   6,063,192    6,063,283 
- Diluted   6,366,192    6,366,283 

 

2

 

 

   For the six months ended 
  

June 30,
2024

USD

  

June 30,
2023

USD

 
OPERATING ACTIVITIES        
Profit for the period   2,896,618    2,389,400 
Adjustments for:          
Finance cost   2,133    - 
Interest income   (348)   (31)
Depreciation of property, plant and equipment & investment property   735    146,725 
Amortization of intangible assets   511,495    - 
Bad debt provision/ (reversal) of trade receivables   -    (15,153)
Operating cash flows before movements in working capital   3,410,633    2,520,941 
           
Increase in trade and other receivables   9,018,078    (839,770)
Increase in inventories   -    (5,324,478)
Increase in deferred tax assets   -    (47,538)
Decrease in trade and other payables   (1,959,507)   72,266 
Decrease in income tax payable   (3,038)   - 
CASH FROM/(USED IN) OPERATING ACTIVITIES   10,466,166    (3,618,580)
NET CASH FROM/(USED IN) OPERATING ACTIVITIES   10,466,166    (3,618,580)
           
INVESTING ACTIVITIES          
Interest received   348    31 
Proceeds on disposal of subsidiaries   -    3,000,000 
Purchase of property, plant and equipment   (87,215)   - 
Purchase of intangible assets   (11,822,592)   - 
NET CASH (USED IN)/FROM INVESTING ACTIVITIES   (11,909,459)   3,000,031 
           
FINANCING ACTIVITIES          
Proceeds on new bank loans   623,701    - 
Interest paid   (2,133)   - 
Advance from related party   1,332,034    532,600 
NET CASH FROM FINANCING ACTIVITIES   1,953,602    532,600 
           
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS   510,309    (85,949)
Effects of foreign currency translation   (40,569)   (2,196)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD   407,311    520,916 
CASH AND CASH EQUIVALENTS AT END OF PERIOD   877,051    432,770 

 

3

 

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release

 

4

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: December 6, 2024 JX Luxventure Limited
     
  By: /s/ Sun Lei
    Sun Lei  
    Chief Executive Officer

 

 

5

 

 

Get the next $JXJT alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$JXJT

DatePrice TargetRatingAnalyst
More analyst ratings

$JXJT
Press Releases

Fastest customizable press release news feed in the world

See more
  • JXJT First Half Year Financial Report 2024: Achieved 30% Revenue Surge and Strong Profit Growth

    HAIKOU, China, Dec. 6, 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 six months ended June 30, 2024.  Six Months 2024 Highlights Revenue Increase: The Company recorded a revenue of $28,183,431, representing a significant increase of $6,650,284 or 30% compared to the same period in 2023 when it reported a revenue of $21,533,147.   Continuing Profitable Operation: The Company recorded a net profit of $2,896,618, representing an increase of $507,218 or 21% compared t

    $JXJT
    Apparel
    Consumer Staples
  • JX Luxventure Appoints Mr. Zhang Chun Sheng as Director of Marketing

    HAIKOU, China, Aug. 29, 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 that, on August 29, 2024, the Company has hired Mr. Zhang Chun Sheng as Director of Marketing. Mr. Zhang Chun Sheng has over 15 years of experience in brand promotion and marketing and is a seasoned expert in this area. He previously held a senior role at Xunlei Limited (NASDAQ:XNET), where he played a crucial part in driving the company's success. Ms. Sun "Ice" Lei, Chief Executive Officer of the Company commented: "We

    $JXJT
    $XNET
    Apparel
    Consumer Staples
    Computer Software: Prepackaged Software
    Technology
  • JX Luxventure Signs Blockbuster USD100,000,000 (3X 2023 Revenue) Sales Agreement

    HAIKOU, China, July 2, 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 that, on July 1, 2024, Jinxuan (Hainan) Holding Group Co., Ltd ("JX Hainan"), a subsidiary of the Company, entered into and executed a Cooperation Agreement (the "Agreement") with Tianjin Zhongsheng United Automobile Trading Co., Ltd.  ("Tianjin Auto Trading").  We anticipate that, based on this collaboration, pursuant to the Agreement, Tianjin Auto Trading will market and sell to customers high-end foreign luxury automobi

    $JXJT
    Apparel
    Consumer Staples

$JXJT
SEC Filings

See more

$JXJT
Leadership Updates

Live Leadership Updates

See more
  • JX Luxventure Appoints Mr. Zhang Chun Sheng as Director of Marketing

    HAIKOU, China, Aug. 29, 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 that, on August 29, 2024, the Company has hired Mr. Zhang Chun Sheng as Director of Marketing. Mr. Zhang Chun Sheng has over 15 years of experience in brand promotion and marketing and is a seasoned expert in this area. He previously held a senior role at Xunlei Limited (NASDAQ:XNET), where he played a crucial part in driving the company's success. Ms. Sun "Ice" Lei, Chief Executive Officer of the Company commented: "We

    $JXJT
    $XNET
    Apparel
    Consumer Staples
    Computer Software: Prepackaged Software
    Technology

$JXJT
Financials

Live finance-specific insights

See more