StockLogistics
2 years ago
β9:31a ET 10/3/2022 - Benzinga
JX Luxventure Limited Signs Pet Food Agreement with A Leading Distributor In China For $20M Annual Sales Amount
HAIKOU, China, Oct. 3, 2022 /PRNewswire/ -- JX Luxventure Limited (NASDAQ:LLL) (the "Company"), a company delivering comprehensive products solutions to global high-net-worth families serviced by our business customers with business segments covering tourism, duty-free cross-border merchandise, eCommerce and B2B SAAS solutions, and menswear, announced today that on October 3, 2022, Flower Crown (China) Holding Group Co., Ltd. ("JXFC"), a wholly owned subsidiary of the Company, entered into and executed a Strategic Cooperation Framework Agreement (the "Agreement") with Hainan Hang Seng Zhongli Commercial Holding Co., Ltd. ("HS Zhongli"), a leading distributor of pet products in China, for the sale, marketing and distribution of JXFC's pet food products by HS Zhongli. The Agreement provides that the target annual sales amount of JXFC's pet food products is $20,000,000 and if HS Zhongli achieves this targeted annual sales amount, the Agreement will be automatically renewed for an additional year.
Ms. Sun "Ice" Lei, Chief Executive Officer of the Company commented: "The signing of this Agreement is significant for us as we enter into the 4th quarter of 2022 in a rapidly evolving macro environment. Following the execution of this Agreement, we have signed over US$160,000,000 contracts since March of 2022, which enables us to achieve strong revenue growth as a result of our business transformation. Pet food products continue to be in recession-resistant demand and this validates the management's decision to expand into the cross-border pet-food sector, as it provides robust growth and a healthy profit margin. This is the second year of the three-year turn-around strategy, and we are very pleased with the execution thus far. Our non-menswear business is on course to achieve profitability on an adjusted basis in 2022. Looking forward, we are confident we will deliver a brighter and more profitable 2023 result for our shareholders."
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.β
Just-Keep-Trying
3 years ago
LLL: Yet another company --- just like NILE, & its subsidiaries/partners, YESTERDAY --- with 'epic' news that one of its OWN companies has executed a contract with THEMSELVES!!! HA-HA-HA!!! As if such were a MONSTER MERGER with some INDEPENDENT entity!!! And all behind DOG FOOD, of all 'trending' stuff (HA!!), in CHINA!!! Are you frickin' KIDDING me???!!!! THIS is the latest PR SCAM of companies in the OTC, NASDAQ, or wherever!!
makinezmoney
3 years ago
$LLL: HUGE RUNNNER !!!!!!! MASSIVE NEWS.... now $4.57
JX Luxventure Signs Blockbuster USD60,000,000 (5X 2020 Revenue) Sales Agreement
March 22 2022 - 09:36AM
PR Newswire (US)
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HAIKOU, China, March 22, 2022 /PRNewswire/ -- JX Luxventure Limited (Nasdaq: LLL) (the "Company"), a service provider delivering comprehensive solutions to global elite families with business segments covering menswear, cross-border merchandise, airfare and tourism, announced today that, on March 21, 2022, Jin Xuan Luxury Tourism (Hainan) Digital Technology Co., Ltd. ("JX Hainan"), a subsidiary of the Company, entered into and executed a Framework Agreement on Strategic Cooperation (the "Agreement") with Chongqing E-Pet Technology Co., Ltd. ("Chongqing E-Pet"), one of the major operators of online cross-border pet food shopping platform in China. Pursuant to the Agreement, Chongqing E-Pet will purchase from JX Hainan cross-border pet foods in the amount up to USD60,000,000 to be distributed on the platforms operated by Chongqing E-Pet.
Ms. Sun "Ice" Lei, Chief Executive Officer of the Company commented: "This cooperation shows the ever-growing demand for the cross-border pet foods in China and opens a new category of cross border goods for JX Luxventure. After a stellar year of revenue growth of 2021, this agreement puts JX Luxventure on pace to have another one for 2022."
About JX Luxventure Limited
Headquartered in Haikou, China, JX Luxventure Limited is a service provider delivering comprehensive solutions to global elite families. Its business segments cover menswear, cross-border merchandise, airfare and tourism. 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 as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (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.
Cision View original content:https://www.prnewswire.com/news-releases/jx-luxventure-signs-blockbuster-usd60-000-000-5x-2020-revenue-sales-agreement-301507330.html
GO $LLL
georgejjl
6 years ago
Harris to merge with L3 in all stock deal, creating defense contracting giant with $34 billion market value
Harris Corporation and L3 Technologies agreed to an all stock merger of equals, creating the United States' sixth largest defense contractor with annual sales around $16 billion.
The deal creates a military communications and defense electronics conglomerate with a market value of about $34 billion.
Published 7 Hours Ago
Reuters
Congress has passed the National Defense Authorization Act for 2018, representing an 18 percent increase in defense spending.
Michael Colley/EyeEm | Getty Images
Congress has passed the National Defense Authorization Act for 2018, representing an 18 percent increase in defense spending.
Harris Corporation and L3 Technologies agreed to an all stock merger of equals, creating the United States' sixth largest defense contractor with annual sales around $16 billion, the companies announced on Sunday.
The deal is the latest example of how increased defense spending under U.S. President Donald Trump and the Republican-led Congress is driving contractors to pursue mergers so they have more scale to bid on bigger projects, spanning everything from upgrading outdated computer systems to space exploration.
The all-stock deal values L3 at $15.7 billion, slightly above its market capitalization as of the end of trading Friday of $15.3 billion. The deal creates a military communications and defense electronics conglomerate with a market value of about $34 billion.
The merger follows a rash of deals over the past 18 months among defense contractors. Last year, United Technologies Corp acquired Rockwell Collins for $30 billion, and in March, TransDigm Group continued its acquisition spree with a $525 million deal for Extant Components Group.
An increased U.S. defense budget and a two-year budget deal reached earlier this year that lifted caps on defense spending have also encouraged buyers.
The combined company, L3 Harris Technologies, Inc., will be the sixth largest defense company in the United States and a top 10 defense company globally, with approximately 48,000 employees and customers in over 100 countries, the companies said.
The combined company is expected to generate net revenue of approximately $16 billion, EBITDA of $2.4 billion and free cash flow of $1.9 billion, the companies said.
Good luck and GOD bless,
George