Jx luxventure limited signs the binding memorandum of understanding to sell its menswear business

Haikou, china , oct. 10, 2022 /prnewswire/ -- jx luxventure limited (nasdaq: jxjt) (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, today announced that it has signed a binding memorandum of understanding (the "mou") with shenzhen zhongjiyingfeng investment co., ltd. ("purchaser"), pursuant to which the purchaser will acquire from the company 100% ownership in hongri international holding limited ("hongri"), a wholly-owned subsidiary of the company through which the company operates its menswear business segment, in consideration for us$10,000,000 (the "sale and purchase transaction").
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