6-K
JX Luxventure Group Inc. (JXG)
UNITED STATES
SECURITIES ANDEXCHANGE COMMISSION
WASHINGTON, D.C.20549
FORM 6-K
REPORT OF FOREIGNPRIVATE ISSUER
PURSUANT TO RULE13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGEACT OF 1934
For the monthof December 2024
Commission FileNumber 001-35715
JX LuxventureLimited
(Translation of registrant’s name into English)
Bin Hai Da DaoNo. 270
Lang Qin WanGuo Ji Du Jia Cun Zong He Lou
Xiu Ying District
Haikou City,Hainan Province 570100
People’sRepublic 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 | December 31, 2023 | |||
| Non-current assets | ||||
| Property, plant and equipment-net | ||||
| Intangible assets | ||||
| Current assets | ||||
| Trade receivables | ||||
| Other receivables and prepayments | ||||
| Cash and cash equivalents | ||||
| Total assets | ||||
| Current liabilities | ||||
| Short term bank loan | ||||
| Trade and other payables | ||||
| Due to related parties | ||||
| Advance from customer | ||||
| Total liabilities | ||||
| Equity | ||||
| Share capital | ||||
| Series A equity interest with preferential rights | ||||
| Series C equity interest with preferential rights | ||||
| Series D equity interest with preferential rights | ||||
| Share premium | ||||
| Other reserve | ||||
| Statutory surplus reserve | ||||
| Accumulated deficit | ) | ) | ||
| Foreign currency translation reserve | ) | ) | ||
| Total liabilities and equity |
All values are in US Dollars.
1
| For the six months ended | ||||
|---|---|---|---|---|
| June<br>30,<br>2024 | June<br>30,<br>2023 | |||
| Revenue | ||||
| Cost of sales | ) | ) | ||
| Gross profit | ||||
| Other income | ||||
| Other gain/(losses) | ) | |||
| Distribution and selling expenses | ) | ) | ||
| Administrative expenses | ) | ) | ||
| Profit from operations | ||||
| Finance costs | ) | |||
| Profit before tax | ||||
| Income tax expense | ||||
| Profit for the period | ||||
| Other comprehensive loss | ||||
| - currency translation differences | ) | ) | ||
| Total comprehensive income for the period | ||||
| Profit per share of common stock attributable to the Company | ||||
| - Basic | ||||
| - Diluted | ||||
| Weighted average shares outstanding: | ||||
| - Basic | ||||
| - Diluted |
All values are in US Dollars.
2
| For the six months ended | ||||
|---|---|---|---|---|
| June 30, 2024 | June 30, 2023 | |||
| OPERATING ACTIVITIES | ||||
| Profit for the period | ||||
| Adjustments for: | ||||
| Finance cost | ||||
| Interest income | ) | ) | ||
| Depreciation of property, plant and equipment & investment property | ||||
| Amortization of intangible assets | ||||
| Bad debt provision/ (reversal) of trade receivables | ) | |||
| Operating cash flows before movements in working capital | ||||
| Increase in trade and other receivables | ) | |||
| Increase in inventories | ) | |||
| Increase in deferred tax assets | ) | |||
| Decrease in trade and other payables | ) | |||
| Decrease in income tax payable | ) | |||
| CASH FROM/(USED IN) OPERATING ACTIVITIES | ) | |||
| NET CASH FROM/(USED IN) OPERATING ACTIVITIES | ) | |||
| INVESTING ACTIVITIES | ||||
| Interest received | ||||
| Proceeds on disposal of subsidiaries | ||||
| Purchase of property, plant and equipment | ) | |||
| Purchase of intangible assets | ) | |||
| NET CASH (USED IN)/FROM INVESTING ACTIVITIES | ) | |||
| FINANCING ACTIVITIES | ||||
| Proceeds on new bank loans | ||||
| Interest paid | ) | |||
| Advance from related party | ||||
| NET CASH FROM FINANCING ACTIVITIES | ||||
| NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | ) | |||
| Effects of foreign currency translation | ) | ) | ||
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | ||||
| CASH AND CASH EQUIVALENTS AT END OF PERIOD |
All values are in US Dollars.
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
Exhibit 99.1
JXJTFirst 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<br> 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<br> increase of $507,218 or 21% compared to the same period in 2023 when it reported a net profit<br> of $2,389,400. |
| --- | --- |
| ● | Earnings Per Share Soaring: Earnings per share for the first half of 2024 were $0.48, an increase<br> 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.
AboutJX 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/.
SafeHarbor Statement
Thispress release may contain certain “forward-looking statements” relating to the business of JX Luxventure Limited, and its subsidiarycompanies. All statements, other than statements of historical fact included herein, are “forward-looking statements” in naturewithin the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, often identified by theuse of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknownrisks 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 unduereliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results coulddiffer materially from those anticipated in these forward-looking statements due to a variety of factors, including those discussed inthe Company’s periodic reports filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). Allforward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by thesefactors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.