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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 9/09/22 JX Luxventure Ltd. 6-K 9/09/22 2:92K EdgarAgents LLC/FA |
Document/Exhibit Description Pages Size 1: 6-K Current Report HTML 73K 2: EX-99.1 Press Release HTML 18K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of September 2022
Commission File Number 001-35715
JX Luxventure Limited
(Translation of registrant’s name into English)
Bin Hai Da Dao No. 270
Lang Qin Wan Guo Ji Du Jia Cun Zong He Lou
Xiu Ying District
Haikou City, Hainan Province 570100
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
C:
On September 9, 2022, we announced our unaudited financial results for 6 months ended on June 30, 2022, which are set forth below:
| As at June 30, | As at December 31, | |||||||
| 2022 | 2021 | |||||||
| Non-current assets | ||||||||
| Property, plant and equipment, net | 3,436,039 | 3,798,612 | ||||||
| Investment property, net | 6,737,712 | 7,364,527 | ||||||
| Prepayments and premiums under operating leases | 2,165,551 | 2,324,695 | ||||||
| Land use rights | 355,703 | 380,091 | ||||||
| 12,695,005 | 13,867,925 | |||||||
| Current assets | ||||||||
| Inventories | 1,237,936 | 1,163,896 | ||||||
| Trade receivables | 3,744,419 | 7,736,851 | ||||||
| Other receivables and prepayments | 2,498,883 | 2,328,122 | ||||||
| Prepayments and premiums under operating leases | 84,654 | 82,714 | ||||||
| Cash and cash equivalents | 11,079,276 | 12,914,914 | ||||||
| 18,645,168 | 24,226,497 | |||||||
| Total assets | 31,340,173 | 38,094,422 | ||||||
| Current liabilities | ||||||||
| Short term bank loans | 1,118,903 | 1,180,656 | ||||||
| Trade and other payables | 4,913,036 | 5,355,123 | ||||||
| Due to related parties | 2,337,178 | 467,568 | ||||||
| Contract liabilities | 319,504 | 218,734 | ||||||
| 8,688,621 | 7,222,081 | |||||||
| Total liabilities | 8,688,621 | 7,222,081 | ||||||
| Equity | ||||||||
| Share capital | 1,284 | 590 | ||||||
| Series A equity interest with preferential rights | 1,240,000 | 1,240,000 | ||||||
| Series C equity interest with preferential rights | 1,500,000 | 1,500,000 | ||||||
| Series D equity interest with preferential rights | 3,120,000 | 3,120,000 | ||||||
| Share premium | 37,449,500 | 24,719,794 | ||||||
| Revaluation reserve | 184,272 | 184,272 | ||||||
| Statutory surplus reserve | 6,084,836 | 6,084,836 | ||||||
| Retained profits / accumulated deficit | (23,448,108 | ) | (3,959,086 | ) | ||||
| Foreign currency translation reserve | (3,480,232 | ) | (2,018,065 | ) | ||||
| 22,651,552 | 30,872,341 | |||||||
| Total liabilities and equity | 31,340,173 | 38,094,422 | ||||||
C:
C: 1
| For the six months ended | ||||||||
| June 30, 2022 | June 30, 2021 | |||||||
| Revenue | 52,315,319 | 12,709,722 | ||||||
| Cost of sales | (51,563,772 | ) | (11,956,851 | ) | ||||
| Gross profit | 751,547 | 752,871 | ||||||
| Other income | 196,251 | 24,159 | ||||||
| Other losses | (3,427,510 | ) | (2,983,494 | ) | ||||
| Distribution and selling expenses | (1,490,497 | ) | (1,213,768 | ) | ||||
| Administrative expenses | (15,485,244 | ) | (2,622,510 | ) | ||||
| Loss from operations | (19,455,453 | ) | (6,042,742 | ) | ||||
| Finance costs | (33,569 | ) | (33,275 | ) | ||||
| Loss before tax | (19,489,022 | ) | (6,076,017 | ) | ||||
| Income tax income | - | 1,125,176 | ||||||
| Loss for the period | (19,489,022 | ) | (4,950,841 | ) | ||||
| Other comprehensive loss | ||||||||
| - currency translation differences | (1,462,167 | ) | 563,976 | |||||
| Total comprehensive loss for the period | (20,951,189 | ) | (4,386,865 | ) | ||||
| Loss per share of common stock attributable to the Company | ||||||||
| - Basic | (2.55 | ) | (1.21 | ) | ||||
| - Diluted | (2.55 | ) | (1.21 | ) | ||||
| Weighted average shares outstanding: | ||||||||
| - Basic | 7,653,153 | 4,100,257 | ||||||
| - Diluted | 7,653,153 | 4,100,257 | ||||||
C:
2
| For the six months ended | ||||||||
| June 30, 2022 | June 30, 2021 | |||||||
| OPERATING ACTIVITIES | ||||||||
| Loss for the period | (19,489,022 | ) | (4,950,840 | ) | ||||
| Adjustments for: | ||||||||
| Share-based payment | 12,730,400 | 708,053 | ||||||
| Finance cost | 33,569 | 33,275 | ||||||
| Interest income | (13,085 | ) | (22,592 | ) | ||||
| Depreciation of property, plant and equipment & investment property | 426,061 | 586,235 | ||||||
| Amortization of intangible assets, prepayments and premiums under operating leases | 40,411 | 50,512 | ||||||
| Provision/ (reversal) of inventory obsolescence | 37,471 | 1,779 | ||||||
| Bad debt provision of trade receivables | 3,383,792 | 2,981,680 | ||||||
| Gain on disposal of property, plant and equipment | 308 | - | ||||||
| Operating cash flows before movements in working capital | (2,850,095 | ) | (611,897 | ) | ||||
| Increase in trade and other receivables | 19,774 | (486,463 | ) | |||||
| Increase in inventories | (176,995 | ) | (326,883 | ) | ||||
| Increase in other current assets | (3,394 | ) | (260,330 | ) | ||||
| Increase in deferred tax assets | - | (1,130,469 | ) | |||||
| Decrease in trade and other payables | (58,990 | ) | (490,178 | ) | ||||
| Decrease in income tax payable | (60,506 | ) | (44,515 | ) | ||||
| CASH USED IN OPERATING ACTIVITIES | (3,130,206 | ) | (3,350,735 | ) | ||||
| NET CASH USED IN OPERATING ACTIVITIES | (3,130,206 | ) | (3,350,735 | ) | ||||
| INVESTING ACTIVITIES | ||||||||
| Interest received | 13,085 | 22,591 | ||||||
| Proceeds on disposal of property, plant and equipment | - | - | ||||||
| Purchase of property, plant and equipment | (1,047 | ) | (14,141 | ) | ||||
| NET CASH FROM INVESTING ACTIVITIES | 12,038 | 8,450 | ||||||
| FINANCING ACTIVITIES | ||||||||
| Proceeds from issuance of preferred shares | - | 1,500,000 | ||||||
| Interest paid | (33,569 | ) | (33,275 | ) | ||||
| New bank loans raised | - | 1,159,525 | ||||||
| Repayment of borrowings | - | (1,159,525 | ) | |||||
| Advance from related party | 1,938,058 | 2,826 | ||||||
| NET CASH FROM FINANCING ACTIVITIES | 1,904,489 | 1,469,551 | ||||||
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (1,213,679 | ) | (1,872,734 | ) | ||||
| Effects of foreign currency translation | (621,959 | ) | (644,202 | ) | ||||
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 12,914,914 | 16,621,290 | ||||||
| CASH AND CASH EQUIVALENTS AT END OF PERIOD | 11,079,276 | 14,104,354 | ||||||
On September 9, 2022, we released the press release furnished herewith as Exhibit 99.1
C:
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: September 9, 2022 | JX Luxventure Limited | |
| By: | /s/ Sun Lei | |
| Sun Lei | ||
| Chief Executive Officer | ||
C:
4
EXHIBIT INDEX
| Exhibit Number | Description | |
| 99.1 | Press Release |
5
| This ‘6-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 12/31/22 | None on these Dates | |||
| Filed on / For Period end: | 9/9/22 | |||
| 6/30/22 | ||||
| 6/30/21 | ||||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 12/02/22 JX Luxventure Ltd. S-8 12/02/22 4:75K EdgarAgents LLC/FA 11/04/22 JX Luxventure Ltd. S-8 11/04/22 4:92K EdgarAgents LLC/FA |