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 July 2023

 

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 July 17, 2023, Jinxuan Luxury Tourism (Hainan) Digital Technology Co., Ltd, a subsidiary of JX Luxventure Limited (the “Company”) entered into and executed Technology Development and Promotion Commission Contract (the “Technology Development Agreement”) with Tianjin Baixing Pharmaceutical Wholesale Co., Ltd. The Technology Development Agreement provides for the development of a medical ERP management platform, which will utilize a Chatgpt-type technology. The Technology Development Agreement is filed herewith as Exhibit 10.1.

 

On July 19, 2023, the Company issued the press release furnished herewith as Exhibit 99.1

 

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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: July 19, 2023 JX Luxventure Limited
     
  By: /s/ Sun Lei
  Sun Lei
  Chief Executive Officer  

 

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EXHIBIT INDEX

 

Exhibit Number   Description
     
10.1   Technology Development and Promotion Commission Contract with Tianjin Baixing Pharmaceutical Wholesale Co., Ltd.
99.1   Press Release

 

 

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Exhibit 10.1

 

Bai Xing Pharmaceutical ERP System

Intelligent Xiaojin

Technology Development and Promotion

Commission Contract

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Party A: Tianjin Baixing Pharmaceutical Wholesale Co., Ltd

Party B: Jinxuan Pinlv (Hainan) Digital Technology Co., Ltd

 

 

 

In accordance with the provisions of the Civil Code of the Civil Code of the People’s Republic of China and relevant laws and regulations, both parties, on the basis of equality and voluntariness

 

To, we have reached the following agreement for mutual compliance and execution.

 

1、 Cooperation methods

 

The first party entrusts the second party, and the second party accepts the commission of the first party, and customizes and develops the medical industry ERP platform development related services required by the first party according to the requirements of the first party. The first party shall pay the service fee to the second party.

 

2、 Contract subject matter

 

According to the provisions of this contract, the services entrusted by Party A to Party B are as follows:

 

(1) Develop an ERP management platform system for the medical industry of Party A;

 

(2) Provide Party A with system deployment, training, and after-sales support for partners in the medical industry;

 

(3) Provide a dedicated service team consisting of artists, front-end, program, database management, server management, and after-sales management personnel for Party A.

 

(4) Establish a secure network operation environment for the operation of Party A’s ERP management platform system to ensure normal operation

 

(5) Develop an intelligent small gold artificial intelligence system for Party A

 

(1) ERP Medical Order Delivery Management System

 

 

 

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The functions are as follows:

 

By utilizing methods such as IoT monitoring, video surveillance, real-time collection, and system interaction, real-time monitoring of medical transportation related links such as inbound, in warehouse, outbound, and transportation is carried out to grasp the operational situation information of the main medical transportation links. Timely detection and avoidance of potential medical transportation problems, shifting from passive post response to a new model of medical transportation management that combines pre prevention and post response. Realize real-time release of information, such as warehouse capacity, warehouse distribution, vehicle scheduling, etc., to guide the behavior of medical transportation service providers. Through long-term monitoring information on medical transportation, in-depth exploration and analysis are conducted on the layout of the medical transportation industry, medical transportation service capabilities, and existing problems in medical transportation. From a large amount of monitoring information, regular knowledge is discovered to serve the planning and leadership decision-making of the medical transportation industry. The comprehensive management platform for medical transportation business aims to unify the management and scheduling of medical transportation, establishing unified standards for medical transportation objects, medical transportation resources, medical transportation costs, and medical transportation performance, achieving unified management of the medical transportation process. The “Unified Construction and Management of Medical Transportation” aims to unify the management of medical transportation resources that were originally dispersed according to the target, and to find a balance between the level of medical transportation and the cost of medical transportation. Unified medical transportation resources and transportation scheduling “enables unified scheduling of warehousing and transportation resources between different medical orders, achieving optimal allocation of medical transportation resources. Unified medical transportation cost budgeting and accounting “, which manages the budgeting and accounting of all warehousing, transportation, and business expenses. Unify medical transportation assessment and performance, simplify medical transportation assessment, and promote the improvement of medical transportation management level.

 

(2) Develop a medical center management system

 

 

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Platform type System module remarks

 

 

 

 

After the medical representative business

 

Taiwan management system

 

hospital management Manage online and offline hospital information
drug control Maintain drug prices and shelf operations
activity management Content of operation activities
store management Check out the drug stock information in the hospital warehouse
purchasing management To examine and approve the hospital procurement documents
Medical order management Manage hospital sales medical orders, wholesale medical orders and merchant sales medical orders
After-sales management Handle sales medical orders and hospital medical orders after-sales problems
Membership management View all hospital member user information
Salesman management Manage the sales staff information
a financial settlement Deal with financial settlement issues
Statistical plate Visually display medical order statistics, funds, members, etc
System Settings System service configuration, user permissions, and operation log

 

 

 

 

The B2b shopping mall subsystem

 

(small routine)

 

Mall home page Advertising space display, drug display
Classification search Quickly locate the drugs according to the classification
Purchase order Convenient for users to purchase and place orders in a unified way
I want to open a shop Apply to become a shopkeeper, according to the hospital management function
personal center View personal information, manage the address and view medical orders
My hospital Manage drugs, hospital medical orders, activity production, and revenue viewing

 

 

 

 

Hospital background management subsystem

 

Hospital information Provide online hospital decoration, name modification
drug control Maintain drug prices and shelf operations
purchasing management Manage procurement applications, purchase purchases and return orders
Warehousing management Manage all kinds of warehousing documents, such as purchasing warehousing and other warehousing
Outbound management Manage all kinds of outbound documents, such as wholesale outbound documents and other outbound documents
Warehouse management Provide inventory inquiry, warehouse inventory inventory, inventory transfer and other operations
Medical order management Manage online and offline medical order data and wholesale orders
After-sales management After-sales processing for medical orders
Member center Manage the hospital membership data
active center Configure hospital activities, such as promotion, special price, group group
Store operation Manage the cash register, stored value card and customer information
Settlement reconciliation Provide settlement services
Statistical plate Statistics of the store medical order data, fund data, member analysis, etc

 

 

 

 

B2C mall subsystem (applet + H5)

 

Mall home page Advertising space display, active drugs, general drugs display
Hospital switch Provide hospital switch to meet the user to choose the nearest hospital shopping
Classification search Quickly locate the drugs according to the classification
shopping trolley Unified order
personal center Provide address maintenance, medical order view entry, and personal information modification
Distribution method Support users to choose the distribution mode, and support self-pickup

POS to collect money

 

subsystem

 

Drug query Check the information and inventory of drugs available offline
Ordinary cashier Quickly scan the drug order, can quickly increase or decrease the drugs, automatically calculate the settlement price, preferential price
  Self-mentioned write-off Cancel the online self-raised medical orders
Hang up the order / take the order Hang the current medical order, retrieve and suspend the medical order again
Historical medical orders Query for historical medical order data
A variety of payment methods Cash, stored value card, WeChat, Alipay, payment code, pos card swiping machine, etc
Print receipt Print the settlement receipt, and reprint the receipt
Medical order return and exchange Support for refunds of medical orders
Temporary preferential treatment Support preferential price change during settlement
Membership query Check our members
Handover class Handover class settlement
cashbox Open the money box

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(3) Development and management of backend control center system

 

>Data layer: Build the underlying data service layer through data collection, cleaning, and storage;

 

>Service layer: through OMS, CRM, medicine, settlement, declaration, marketing and other Microservices, the system service layer is formed;

 

Application layer: Compose multiple cloud applications through the data layer and service layer;

 

Service target: Online shopping enterprises, pharmaceutical factories, hospitals, medical wholesalers, and consumers in the medical online shopping industry.

 

(4) Joint communication system

 

 

 

(5)Hospital Medical Wholesale System and Supply Chain System

 

 

 

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system Level 1 module menu function declaration
Cloud warehouse background subsystem

 

 

 

 

Medical order management

 

List of medical orders Displays the all medical order list information of the current system, including amount, drug, freight, status, etc
  Medical order after sale Manage the after-sales service of medical orders, including return and exchange, refunds, customer complaints, etc
  Intelligent single According to the medical order information, intelligent disassembly and automatically bind the delivery supplier
  Tripartite order record Record the medical order information of the third-party platform to easily view and process the third-party medical orders
  exception handling Manage abnormal conditions such as unnormal delivery of medical orders, loss of goods, incorrect declaration information and push failure
 

 

drug control

Drug data Drug basic data management, including new construction, data improvement, data update
  Unit management The unit management of drugs includes the measurement unit management of medical drugs
  sort management Drug classification information management, including grade 1-3 classification
  price control Complete the batch update of the retail price and the wholesale price through the template
  brand management Brand information management of drugs, including name, brief introduction, country, logo
  State management The country of origin of the drug management, including code, icon, name, abbreviation
  currency For the currency selection of drugs in the bonded warehouse
 

 

 

 

 

Medical representative business management

 

List of medical representatives Build new medical representatives, maintain the information of medical representatives and the drug authorization of medical representatives
  Authorized by medical representative Select the medical representative for authorization according to the drug optimization template
  Medical representative configuration Including medical representative interface configuration, medical representative price risk control configuration, medical representative financial ledger configuration
  Medical representative business medical orders Check the medical order information of each medical representative business and export it
  SupplierVendor Management List of suppliers Build a new supplier and maintain the supplier information
  Supplier drug Manual and technical connection with the supplier drug information, view and export the supplier drug information
 

 

 

 

 

Settlement system

 

Account management Account income and expenditure records of the cloud warehouse main company
  Supplier medical orders to be settled For settling supplier medical orders, multiple statements can be generated for editing and settlement confirmation
  Medical representative business medical orders to be settled For the settlement of medical orders of medical representatives, multiple settlement statements can be generated for editing and settlement confirmation
   Supplier settlement Supplier settlement management, including settlement type (account period settlement, advance payment settlement) and supplier recharge and refund.
   Settlement is made by medical representatives Settlement management of medical representatives, including settlement type (account period settlement, advance payment settlement) and recharge and refund of medical representatives.
  Supplier statement Reconcreconciliation for supplier medical orders
  Statement of medical representatives Reconcreconciliation for medical orders of medical representatives
  Advance payment withdrawal Cash withdrawal review when medical representatives and suppliers withdraw

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Template management

 

Drug preferred template

 

Multi-dimensional drug selection can be conducted according to the cloud Cang drug pool, and selected dimensional advantageous products can be pushed to relevant medical representatives. Relevant optimization templates can also be customized according to medical representatives, and selected drugs can be supported to export relevant quotation tables
  Price template Set the price rate, can be set according to different medical representatives, fixed template or interest rate template
  White list template Drugs added to the whitelist template are sold first
  Freight template Express delivery area, freight setting
 

 

 

 

 

Mall operation

 

Mall medicine Self-run PC mall drug management, shelf management
  Mall medical order Mall medical order management, after-sales management
  user management Mall user registration, mall membership level classification
  Mall decoration Self-operated PC mall page decoration
  Top-up audit Mall user recharge audit management
 

 

 

 

 

monitored control system

 

Threshold management Set up the key indicators and scope of monitoring
  Notice management Set the notification time, notification method and notification result after the trigger warning
  Department management Which key people should be notified after setting up the trigger warning
  Log management Storage and analysis management of all monitoring logs
 

 

 

Interface management

 

Adapter Management Customized docking interface services
  Standardized interface Interface of drug subscription, medical order push, and status synchronization connected with upstream suppliers and downstream medical representatives
  Report management Report management Generate data reports of each business caliber and dimension according to business needs

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System Settings

 

Account management Account management of cloud warehouse managers and operating personnel
Role permissions Account role and permission configuration
system log The operation record log book after logging in to the cloud warehouse
Declaration configuration Configuration information of yuncang medical order declaration and payment form declaration
cashier desk Account management Cloud warehouse account management
Payment management Manage the supported payment methods
Batch mining system batch purchase For docking with the downstream batch mining business, and to the upstream lock warehouse
recommender system Drug recommendation Using data analysis
BI analyse BI analyse Use big data to analyze user behavior, medical order data and browsing data to provide decision assistance
Yuncang mall subsystem register and login register and login Users register an account and log in to the mall

 

 

Mall home page

 

Mall home page Display the drugs according to the classification and recommendation, and provide S2B sales service
message center View the site messages pushed by the system
Drug details Check the name, brand, classification, and details of the drug, and place an order online

 

 

User background

 

My medical order Check the medical orders and details of users
shipping address Manage the common and default receiving address information for users
drug control Manage the medicines available for the medical order
Batch guide Users can import medical orders in batches with excel

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(6)Develop a medical representative medical wholesale system

 

 

 

Functional type ERP module remarks

 

 

 

 

 

 

 

 

 

 

 

 

Medical representative business background management system

 

hospital management Manage online and offline hospital information
drug control Maintain drug prices and shelf operations
activity management Content of operation activities
store management Check out the drug stock information in the hospital warehouse
purchasing management To examine and approve the hospital procurement documents
Medical order management Manage hospital sales medical orders, wholesale medical orders and merchant sales medical orders
After-sales management Handle sales medical orders and hospital medical orders after-sales problems
Membership management View all hospital member user information
Salesman management Manage the sales staff information
a financial settlement Deal with financial settlement issues
Statistical plate Visually display medical order statistics, funds, members, etc
System Settings System service configuration, user permissions, and operation log

 

 

B2b mall

subsystem

(small routine)

 

Mall home page Advertising space display, drug display
Classification search Quickly locate the drugs according to the classification
Purchase order Convenient for users to purchase and place orders in a unified way
I want to open a shop Apply to become a shopkeeper, according to the hospital management function
personal center View personal information, manage the address and view medical orders
My hospital Manage drugs, hospital medical orders, activity production, and revenue viewing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The hospital background

managerial subsystem

 

Hospital information Provide online hospital decoration, name modification
drug control Maintain drug prices and shelf operations
purchasing management Manage procurement applications, purchase purchases and return orders
Warehousing management Manage all kinds of warehousing documents, such as purchasing warehousing and other warehousing
Outbound management Manage all kinds of outbound documents, such as wholesale outbound documents and other outbound documents
Warehouse management Provide inventory inquiry, warehouse inventory inventory, inventory transfer and other operations
Medical order management Manage online and offline medical order data and wholesale orders
After-sales management After-sales processing for medical orders
Member center Manage the hospital membership data
active center Configure hospital activities, such as promotion, special price, group group
Store operation Manage the cash register, stored value card and customer information
Settlement reconciliation Provide settlement services
Statistical plate Statistics of the store medical order data, fund data, member analysis, etc

9

 

 

 

 

 

The b2C mall

subsystem

(applet + H5)

 

Mall home page Advertising space display, active drugs, general drugs display
Hospital switch Provide hospital switch to meet the user to choose the nearest hospital shopping
Classification search Quickly locate the drugs according to the classification
shopping trolley Unified order
personal center Provide address maintenance, medical order view entry, and personal information modification
Distribution method Support users to choose the distribution mode, and support self-pickup

 

 

 

 

 

 

 

 

 

 

 

 

POS to collect money

subsystem

 

Drug query Check the information and inventory of drugs available offline
Ordinary cashier Quickly scan the drug order, can quickly increase or decrease the drugs, automatically calculate the settlement price, preferential price
Self-mentioned write-off Cancel the online self-raised medical orders
Hang up the order / take the order Hang the current medical order, retrieve and suspend the medical order again
Historical medical orders Query for historical medical order data
A variety of payment methods Cash, stored value card, WeChat, Alipay, payment code, pos card swiping machine, etc
Print receipt Print the settlement receipt, and reprint the receipt
Medical order return and exchange Support for refunds of medical orders
Temporary preferential treatment Support preferential price change during settlement
Membership query Check our members
Handover class Handover class settlement
Cash box Open the money box

 

(7)Intelligent Xiaojin Artificial Intelligence System

 

Jinxuan Technology has released a Chinese version of a product similar to CHATGPT - Intelligent Xiaojin. This product is currently in the internal testing stage and is only open to some individual and corporate users for application.

 

Intelligent Xiaojin has the following characteristics:

 

Strong semantic understanding ability: Intelligent Xiaojin can accurately understand user input and generate appropriate and coherent responses based on context.

 

Flexible interaction methods: Intelligent Xiaojin supports multiple interaction methods, including text, voice, images, etc.

 

Rich application scenarios: Intelligent small gold can be applied in multiple fields and scenarios, such as education, entertainment, life, healthcare, work, etc.

 

Security and controllability: Intelligent small funds follow security standards and ethical principles, and will take corresponding measures when handling sensitive information or inappropriate requests.

 

3、 Development progress and platform achievement delivery

 

1. Within 12 months after signing this contract, Party B shall complete the demand analysis, design, coding and Test effort of the platform and deliver it to Party A.

 

2. The delivery and acceptance place of platform products is Party A, and the delivery contents include but are not limited to all source codes, installation disks, Technical documentation, user guides, operation manuals, installation guides, test reports, etc.

 

4、 Development expenses

 

The total development cost of the platform is seven million three hundred thousand yuan (in figures: 7300000 yuan), and the payment is as follows:

 

1. The first payment shall be 50% of the total development cost of the platform within 30 days after the contract is signed, which is three million six hundred and fifty thousand yuan (in figures: 3650000 yuan);

 

2. The second payment shall be 40% of the total development cost of the medical industry ERP management platform system delivered by Party A, which is two million nine hundred and twenty thousand yuan (in figures: 2920000 yuan). According to the project progress, it shall not exceed April 30, 2024;

 

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3. The third payment shall be 10% of the total development cost of the platform, which is seven hundred and thirty thousand yuan (in figures: 730000 yuan), after the platform system is tested and accepted by Party A.

 

5、 Payment settlement method

 

After the signing of this contract, Party A shall inspect and accept the platform development and service system delivered by Party B, and pay the service fee according to the contract nodes.

 

2. In order to protect the interests of both parties, Party B shall be responsible for all disputes related to the labor relationship of Party B’s service team, infringement liability of Party B’s development, complaints or other losses caused by Party B’s inadequate service to Party A’s business partners. The payment made by Party A to Party B already includes various additional expenses incurred during the cooperation process. All losses caused by labor supplement and related disputes, personnel costs, travel, servers, and legal disputes shall be settled from the received amount of Party B, and Party A shall not bear any costs other than the agreed amount in the contract.

 

6、 Intellectual Property Clause

 

1. The intellectual property rights of all research and development achievements (including platform products and other technical achievements developed based on this) generated under this contract belong to Party A.

 

2. Both parties confirm that Party A has the right to use the research and development results provided by Party B in accordance with this contract for subsequent improvement. The new technological achievements with substantive or creative technological progress characteristics and their ownership rights arising from this shall be enjoyed by Party A.

 

3. The second party guarantees that the research and development results and their development process provided in accordance with the provisions of this contract do not infringe on the intellectual property rights of third parties. If any third party files an infringement claim, the second party shall negotiate with the third party and bear all legal and economic responsibilities that may occur.

 

7、 Rights and obligations of both parties

 

1. Rights and Obligations of Party A

 

(1) The first party has the right to obtain the platform deliverables, services, and related intellectual property rights submitted by the second party.

 

(2) The first party has the right to timely understand and supervise the progress of platform development.

 

(3) The first party shall provide the second party with the necessary materials and working conditions to complete the platform development.

 

(4) The first party shall pay the contract price to the second party in accordance with the contract agreement. 2. Rights and Obligations of Party B

 

(1) The second party has the right to collect the contract price in accordance with the provisions of this contract.

 

(2) The second party has the right to request the first party to provide necessary information and support for platform development.

 

(3) The second party guarantees that the platform products delivered are complete, brand new, technologically advanced and mature, and in terms of performance, quality, and design

 

Meet all requirements for safe, reliable, and efficient operation and convenient maintenance, and be able to meet the personalized needs of Party A and related development work of interfaces. The technical documents provided by Party B shall be complete, clear, readable, and accurate, and can meet the needs of inspection, installation, debugging, testing, acceptance, operation, maintenance, and training of platform deliverables.

 

(4) The second party shall dispatch technical personnel with good health, work experience, and corresponding skills to the first party’s site to provide technical services such as development, implementation, installation, debugging, testing, trial operation, maintenance, and training. The cost of such technical services is included in the contract price.

 

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(5) If Party A discovers defects in the platform products delivered by Party B, or if the performance and quality do not meet Party A’s requirements, Party B shall be responsible for free elimination of defects, replacement or replacement of the delivered platform products. If the platform products delivered by Party B have defects or the performance and quality do not comply with the provisions of this contract, causing losses or work obstacles to Party A, Party B shall bear corresponding responsibilities.

 

(6) During the after-sales service period, Party B shall be responsible for providing Party A with all materials and information related to new or improved operating experience, technical development, and security related to the platform for free, and shall be responsible for updating and upgrading the platform under this contract for free.

 

(7) The second party guarantees that the platform products and services delivered by it are free from any rights defects. If any third party files an infringement claim against the first party regarding the platform products and services delivered by the second party, the second party shall be responsible for negotiating with the third party and bear all legal liabilities arising therefrom, and the relevant expenses shall be borne by the second party.

 

(8) Party B promises that the platform products provided do not contain any safety hazards and shall bear all responsibilities (including but not limited to eliminating safety hazards, refunds, compensation for losses, etc.) during the platform’s use period. In the event of any accident caused by platform product safety, Party B shall compensate Party A and relevant users for any losses incurred as a result.

 

8、 Acceptance

 

1. After delivering the developed platform products to Party A, Party B enters the trial operation period, which is 2 months. If any defects are found or the performance and quality of the platform products do not meet Party A’s requirements during the trial operation period, Party B is responsible for making modifications and corrections to them. At the same time, the trial operation period shall be correspondingly extended based on the above modifications and corrections.

 

2. Upon the expiration of the trial operation period, the platform products delivered by Party B can be used normally by Party A, And after Party B submits the platform design documents to Party A (including but not limited to the platform development plan and management change log, requirements specification, platform Software design description, platform architecture document, platform system design, platform pre installation test plan, test plan, module design, module organization, module process and interface design between modules, etc., and at the same time, it shall submit the documents of each stage of platform development and all source codes of the platform).

 

3. If the acceptance is not qualified, Party B shall be responsible for correcting and modifying it. After correcting and modifying it, Party B must conduct another acceptance. If the re acceptance still fails, Party A has the right to terminate this agreement.

 

9、 After sales service support

 

After passing the acceptance inspection, Party B shall provide one year of free after-sales service for the developed application system.

 

2. During the first two weeks of the after-sales service period, Party B shall cooperate with Party A to use the platform.

 

3. The after-sales service content includes platform defects, malfunctions, etc. If users require minor modifications to some functions due to work needs, Party B shall provide them for free.

 

During the after-sales service period, Party B guarantees to respond promptly and actively in the event of application system failures, and in case of special circumstances, both parties shall negotiate.

 

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10、 Training

 

After delivering platform products to Party A, Party B is responsible for providing platform operation guidance and training to Party A’s administrators.

 

11、 Confidentiality responsibility

 

Both Party A and Party B guarantee that all technical information and materials related to the products on this platform shall not be disclosed to third parties.

 

12、 Force Majeure

 

1. If either party to the contract is unable to fulfill the contract on time due to force majeure, such as earthquakes, floods, typhoons, wars, or other reasons considered by both parties as force majeure, the affected party shall notify the other party of the occurrence of the force majeure accident as soon as possible, and submit proof documents issued by relevant authoritative institutions to the other party for confirmation as soon as possible within 14 days of the occurrence of the force majeure.

 

2. After the termination or elimination of the force majeure event, the hindered party shall notify the other party of the termination of the force majeure situation as soon as possible. Both parties shall negotiate whether to continue performing the contract. If both parties agree to continue performing the contract, they shall separately agree in writing on the relevant matters for continuing to perform the contract.

 

13、 Dispute resolution

 

All disputes related to this contract shall be resolved through friendly consultation between Party A and Party B. If no agreement can be reached after consultation, either party has the right to submit the dispute to the arbitration department of the place where the contract is signed for arbitration. The arbitration result shall be binding on both parties, and both parties shall comply and execute it. The expenses incurred by the above process shall be borne by the losing party, unless otherwise specified in the arbitration results.

 

14、 Other matters

 

1. Contract signing date: July 17, 2023

 

2. Contract signing location: Party A’s company.

 

3. The contract shall come into effect after being signed and stamped by both parties, and shall be made in duplicate, with each party holding one copy and having the same legal effect.

 

4. Any matters not covered by this contract shall be resolved through consultation between both parties

 

(There is no text below)

 

Party A: Tianjin Baixing Pharmaceutical Wholesale Co., Ltd

 

Legal representative:

 

Contact number:

 

Party B: Jinxuan Pinlv (Hainan) Digital Technology Co., Ltd

 

Legal representative:

 

Contact number:

 

 

13

 

Exhibit 99.1

 

JX Luxventure announces a new Artificial Intelligence initiative: USD1,000,000 Agreement with Tianjin Baixing Pharmaceutical Wholesale Co., Ltd. in connection with incorporating ChatGPT type technology for ERP platform

 

HAIKOU, China, July 19, 2023 /PRNewswire/ -- JX Luxventure Limited (Nasdaq: JXJT) (the “Company”), a company that engages in tourism with business segments covering tourism, tourism duty-free cross-border merchandise and tourism technology solutions, today announced that on July 17, 2023, its subsidiary, Jinxuan Luxury Tourism (Hainan) Digital Technology Co., Ltd signed a USD1,000,000 Technology Development and Promotion Commission Contract with Tianjin Baixing Pharmaceutical Wholesale Co., Ltd. (“Tianjin Baixing”) for developing medical ERP management platform, which will incorporate Chatgpt type technology.

 

The Company recently announced new initiatives of ChatGPT technology in related fields. The Company combines its development project with Tianjin Baixing’s technology products to launch a demo similar to ChatGPT, realizing a further upgrade in the field of artificial intelligence. It also applies ChatGPT-like technology to the Company’s related businesses in luxury tourism, duty-free cross-border merchandise, and tourism technology solutions, continuously enriching the application scenarios of ChatGPT and related technologies in the field.

 

Since the Company won the Best Virtual Human Software Technology Service Provider at the 2022 China Virtual Human Innovation Awards, it has been committed to exploring the combination of artificial intelligence and the Company’s service project industry chain. In February 2023, the Company announced that it began to explore and research ChatGPT technology in depth and breadth. The alliance between the Company and Tianjin Baixing on a ChatGPT-like demo showcases the Company’s substantial potential for commercial value in the direction of innovation.

 

The Company believes that the birth of its ChatGPT-type product is an important milestone. As the product technology application deepens, it will also become an important infrastructure for technology service companies; the Company believes that its technology solutions will improve operational efficiency, improve service delivery, and simplify business processes; the Company firmly believes that with its continuous exploration in the field of artificial intelligence, we will bring more groundbreaking solutions to the Company’s partners and even the entire industry. It is also ready to face the various challenges that are coming.

 

Ms. Sun Lei, Chief Executive Officer of the Company, said: “We are pleased to announce this major initiative, which will continuously expand our capabilities in the technology industry. Our goal has always been to promote the development of technology solutions, and by launching our ChatGPT-like basic technology infrastructure, we are aligning ourselves with the dynamic development of the technology sector. This collaboration emphasizes our commitment to develop and propagate pioneering technologies in various fields. By creating an ERP management platform for the medical department, we further aim to provide Tianjin Baixing with a technology solution to optimize its business operations, thereby improving the overall efficiency of the services.”

 

About JX Luxventure Limited

 

Headquartered in Haikou, China, JX Luxventure Limited is a company that engages in tourism with business segments covering tourism, tourism duty-free cross-border merchandise and tourism technology 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.

 


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