Stockmarket

JX Luxventure Seeks Potential Sale Of Menswear Segment



© Reuters. JX Luxventure Seeks Potential Sale Of Menswear Segment
  • JX Luxventure Ltd (: LLL) has formed a special board committee to explore a potential sale of the menswear segment of its business operation.
  • The committee consists of Li Hui Dan, Chairman of the Board, Mu Ruifeng, Chairman of the Audit Committee, and Mr. Jin Yan, a member of the Audit Committee.
  • JX Luxventure has incurred a decrease in sales revenue and an increase in loss of the menswear segment for several years, including 2021.
  • The company expects a potential sale of the menswear business would allow it to focus on its two fast-growing segments, cross-border merchandise, and tourism.
  • Price Action: LLL shares are trading higher by 5.68% at $1.86 on the last check Tuesday.

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