HAIKOU CITY, CHINA / ACCESSWIRE / April 6, 2023 /JX Luxventure Limited (NASDAQ:JXJT) simply made 2 huge deals with a significant airline company, China Southern Air Cross-Border E-Commerce (Hainan) Co., Ltd.(China Southern Airline). Through these memorandums of understanding (MOUs), JX Luxventure would partner with the China Southern Airline in connection with the exports of used electrical cars (called brand-new energy cars or NEVs) and the distribution of imported animal food.
Signing these MOUs positions JX Luxventure in 2 flourishing markets. The pet food import market has actually seen considerable development in recent years. In 2021, China imported $540 million worth of animal food, which represents a 35-fold boost from 2015, to feed its growing animal market. In 2020, China’s pet grocery store deserved $6.72 billion, and it is approximated that the marketplace will grow at 19.5% from 2021 to 2025, to reach $16.7 billion. Domestic pet food production is sluggish, nevertheless, and the United States stays China’s biggest importer of animal food.
Meanwhile, China’s car export market has actually been growing gradually for many years. In 2022, China lastly surpassed Germany to secure 2nd location, as it exported an overall of 3.1 million cars. Of those, 2.5 million were automobile. It is expected that China will quickly be the world’s leading car exporter, surpassing Japan and exporting 5.5 million cars and trucks by 2030. One driver of the market’s development, which JX Luxventure is making the most of through its MOU with China Southern Airline, is the appeal of NEVs. China exported 679,000 NEVs in 2022, which represents a boost of 120% from 2021, and a research study report from Citic Securities recommends this might increase to 2.5 million by 2030.
MOUs Position Luxury Services Company For Future Growth
JX Luxventure serves throughout a series of markets, supplying high-end services to high-net-worth households, and its business sections consist of tourist, duty-free cross-border product and eCommerce, and it already has more than 20 agreements with airline companies to support its numerous business sections. The business has actually just recently seen a duration of prolonged development as part of a three-year turn-around method. This duration consisted of revenue growth of more than 440% in 2021.
Now through these 2 MOUs, signed less than a week apart, JX Luxventure is indicating that it is all set to take the next action as a business. With over $16 billion in profits, China Southern Airlines is the largest airline company in China, serving around 110 million guests annual. In reality, as recently as 2020, it was the biggest airline company on the planet.
Commenting on the used cars and pet food collaboration, CEO of JX Luxventure, Ms. Sun “Ice” Lei, said, “We are delighted to participate in this MOU with China Southern Airline to utilize their circulation channels for offering imported pet foods and used cars. This collaboration will allow us to broaden our consumer base and supply more premium items to animal owners in China. It’s worth keeping in mind that this is the 2nd significant cooperation in between JX Luxventure Limited and China Southern Airline in less than a week, which shows our dedication to checking out brand-new business opportunities and reinforcing our tactical collaborations in China’s growing market.”
Interested in finding out more about JX Luxventure? Visit its website for more information.
Contact:
Sun Lei, CEO
[email protected]
+ 86 18522080482
SOURCE: JX Luxventure Limited
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