HAIKOU, China - JX Luxventure Limited (NASDAQ:JXJT), a company specializing in integrated tourism services and technology, announced Monday that its subsidiary, Jinxuan (Hainan) Holding Group Co., Ltd ("JX Hainan"), has signed a significant cooperation agreement with Tianjin Zhongsheng United Automobile Trading Co., Ltd. ("Tianjin Auto Trading"). Under the terms of the agreement, JX Hainan will provide high-end foreign luxury automobiles to Tianjin Auto Trading, with the sales expected to reach or exceed $100 million.
The CEO of JX Luxventure, Ms. Sun "Ice" Lei, highlighted the partnership as a continuation of the company's strategic growth and profitability. Lei emphasized the synergistic potential of Jinxuan's expertise in international automotive procurement with Tianjin Auto Trading's established sales platform in China. The collaboration aims to capitalize on the increasing demand for luxury vehicles in the Chinese market while ensuring a superior customer experience.
This business move is seen as a strategic expansion for JX Luxventure, leveraging the growing appetite for luxury cars among Chinese consumers. The deal is expected to facilitate the introduction of premium brands and models to the market, supported by logistics, financing solutions, and other services.
The information disclosed is based on a press release statement from JX Luxventure Limited. The company cautions that the forward-looking statements included in the release are subject to risks, uncertainties, and assumptions, which could cause actual results to differ from the expectations outlined. Investors are advised that the forward-looking statements should not be relied upon as predictions of future events and are encouraged to consult the company's filings with the Securities and Exchange Commission for further details.
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