JXJT JX Luxventure Ltd

 

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

 

 

		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

 

 

		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

 

 

EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press Release

 

 

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

 

Exhibit 99.1

 

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

 

HAIKOU, China, December 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 to the same period in 2023 when it reported a net profit of $2,389,400.

 

●

Earnings Per Share Soaring: Earnings per share for the first half of 2024 were $0.48, an increase of $0.09 per share or 23% from $0.39 per share reported for the first half of 2023.

 

Ms. Sun “Ice” Lei, Chief Executive Officer of the Company commented: ” We are thrilled with our achievements in the first half of 2024, marking a major milestone in the success of our three-year turnaround strategy. This is the first operational year following the Company’s three-year transformation plan. The solid foundation laid over the past three years has enabled us to achieve remarkable growth in revenue, profit, and earnings per share. I am proud of our team and their efforts. I believe this is just the beginning.

 

Our diversified revenue streams, robust balance sheet, and strategic growth initiatives allow us to consistently create value for our shareholders. I am confident that JX Luxventure is well-prepared for long-term sustainable growth.

 

The Company today filed its six months result report on Form 6-K for the six months ended June 30, 2024 (the “June 2024 Report”) with the SEC. The June 2024 Report can be accessed on the SEC’s website at http://www.sec.gov.

 

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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