StockNews.AI
JXJT
StockNews.AI
96 days

JX Luxventure Group Soars with 57% Revenue Surge and Sustained Profitability in FY 2024 Results

1. JX Luxventure reported revenue of $49.84 million, a 57% increase. 2. Gross profit increased by 53%, reaching $8.35 million. 3. Net profit showed modest growth, rising 1% to $3.07 million. 4. CEO highlighted the success of a three-year turnaround strategy. 5. Future growth anticipated through innovation and global expansion.

6m saved
Insight
Article

FAQ

Why Bullish?

The significant increase in revenue and gross profit indicates strong operational performance, which typically boosts investor confidence. Historically, such growth patterns in similar companies have resulted in stock price appreciation.

How important is it?

The article provides financial results that are pivotal for investor sentiment and decision-making regarding JXJT shares.

Why Long Term?

The ongoing commitment to strategic market expansion suggests sustained growth potential over the coming years, which positions JXJT for long-term value creation.

Related Companies

XTPWMTAMZN
, /PRNewswire/ -- JX Luxventure Group Inc. (Nasdaq: JXG) (the "Company"), a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as  providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products, today announced financial results for the fiscal year ended December 31, 2024.  Financial Highlights for the full year ended December 31, 2024: Revenue: The Company reported revenue of $49,840,288, an increase of $17,999,700 from $31,840,588 in 2023, representing a significant year-over-year growth of 57%. Profit: Gross profit reached $8,352,316, up $2,895,947 from $5,456,369 in 2023, reflecting a robust year-over-year increase of 53%. Net profit was $3,073,807, a modest increase of $30,028 from $3,043,779 in 2023, marking a year-over-year growth of 1%. Ms. Sun "Ice" Lei, Chief Executive Officer of the Company commented: "Our 2024 financial results demonstrate the strength and foresight of our three-year turnaround strategy, launched in 2020. This year's strong performance, driven by significant revenue and gross profit growth, highlights our team's dedication to operational excellence and strategic market expansion. Achieving a net profit of $3.07 million reflects our ability to sustain profitability while navigating the dynamic wholesale trade and tourism sectors with financial discipline. Looking ahead, we are poised to capitalize on this momentum, continuing to innovate and expand our global presence. Our team is committed to delivering transformative growth while maintaining profitability, and we are confident in our strategy to drive long-term value for our stakeholders in the years to come." About JX Luxventure Group Inc. Headquartered in Haikou, China, JX Luxventure Group Inc. is a company in the wholesale trade sector specializing in duty-free and cross-border consumer goods, as well as providing integrated solutions in wholesale trade, including logistics, supply chain management, and technology solutions to support the efficient distribution of tourism-related products.  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 Group Inc., 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 (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. SOURCE JX Luxventure Group INC. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News