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JX Luxventure Signs Blockbuster USD100,000,000 (3X 2023 Revenue) Sales Agreement

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11 months ago

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HAIKOU, China, July 2, 2024 /PRNewswire/ — JX Luxventure Limited (Nasdaq: JXJT) (the “Company”), a technology company engages in integrated tourism services, including tourism, duty-free cross-border goods, and comprehensive e-commerce technology solutions, today announced that, on July 1, 2024, Jinxuan (Hainan) Holding Group Co., Ltd (“JX Hainan”), a subsidiary of the Company, entered into and executed a Cooperation Agreement (the “Agreement”) with Tianjin Zhongsheng United Automobile Trading Co., Ltd.  (“Tianjin Auto Trading”).  We anticipate that, based on this collaboration, pursuant to the Agreement, Tianjin Auto Trading will market and sell to customers high-end foreign luxury automobiles supplied by JX Hainan in the amount not less than USD100,000,000.

Ms. Sun “Ice” Lei, Chief Executive Officer of the Company, commented: “Since I was appointed as the Company’s CEO in 2020, the Company has drastically changed its business model, proving it can achieve high revenue growth and profitability. This partnership not only keeps the Company on track for high revenue growth but also maintains a healthy profit margin. Moreover, it combines Jinxuan’s international automotive procurement expertise with Tianjin Auto Trading’s robust Chinese sales platform. We believe that this combination will efficiently bring more luxury vehicles into the growing Chinese market and deliver an exceptional customer experience. We are delighted that we received access to the most desirable luxury brands and models. Working alongside Tianjin Auto Trading’s extensive sales reach and new media expertise, we are optimistic that these premium vehicles seamlessly reach excited customers across China, providing premium logistics, financing solutions, and other services. This synergistic relationship will create tremendous value on both sides as we introduce more Chinese consumers to the world’s finest automobiles.”

About JX Luxventure Limited

Headquartered in Haikou, China, JX Luxventure Limited is a technology company engages in integrated tourism services, including tourism, duty-free cross-border goods, and comprehensive e-commerce technology solutions.  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 Limited, 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.

View original content:https://www.prnewswire.com/news-releases/jx-luxventure-signs-blockbuster-usd100-000-000-3x-2023-revenue-sales-agreement-302187770.html

SOURCE JX Luxventure Limited

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Sirius Signal Supplies World’s Largest Boating Club With Modern Electronic Visual Distress Signal Devices

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1 hour ago

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May 17, 2025

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Freedom Boat Club — subsidiary of Brunswick Corporation — equips corporate club boats with state-of-the-art SOS flashing distress lights

PEND OREILLE, Idaho, May 17, 2025 /PRNewswire-PRWeb/ — Sirius Signal, the world’s leader in marine safety distress signal innovation and manufacturing, announced today it is providing its high-performance single visible white color plus non-visible infrared SOS flashing distress light to Freedom Boat Club’s fleet. The Model C-1004 electronic boat flare and daytime distress flag is U.S. Coast Guard approved to meet all visual distress signal requirements. Together both provide greater safety for boaters — it also replaces dangerous and toxic pyrotechnic marine flares.

“We have recognized that our club members should have safe, effective and easy to deploy distress signals should any emergency arise on the water,” said Nic Thomas, senior director of club operations.

“We have recognized that our club members should have safe, effective and easy to deploy distress signals should any emergency arise on the water,” said Nic Thomas, senior director of club operations.

In combination with the distress light, a suction cup mount is provided for club members to display it safely above their line of sight. A video linked by a dynamic QR code gives Freedom Club boaters education and instructions on proper use.

“Our SOS visual distress signal products paired with ‘how to and when to use’ instructions provide invaluable operational safety for Freedom Boat Club members,” said Anthony Covelli, Sirius Signal CEO. “This is foundationally what Freedom Boat Club emphasizes in its Unlimited Boat Training Program.”

Continued adoption of these modern electronic signal devices makes sense because they are superior to pyrotechnic marine flares. In addition, they require purchase just one time and eliminate the need for disposal of toxic waste.

About Sirius Signal

Sirius Signal produces U.S. Coast Guard Transport Canada- and Australian-approved day and nighttime distress devices with a focus on safety, technology, performance and sustainability. To learn more about purchasing Sirius Signal devices or being a part of our team, visit us at www.siriussignal.com or call 888.526.0005.

Media Contact

Danielle Doyle, Sirius Sirius, 1 18885260005, danielle@siriussignal.com, https://siriussignal.com

View original content to download multimedia:https://www.prweb.com/releases/sirius-signal-supplies-worlds-largest-boating-club-with-modern-electronic-visual-distress-signal-devices-302452080.html

SOURCE Sirius Signal

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CHAI, the Social AI Platform, on Track to Hit $1.4B Valuation in 2026

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4 hours ago

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May 17, 2025

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CHAI, a fast-rising AI startup in Palo Alto, is rapidly emerging as the next unicorn with explosive revenue growth of 250%, surpassing industry leaders like Databricks (127%), SpaceX (139%), and Anthropic (220%). With a last valuation of $450 million more than a year ago, CHAI is on track to achieve a $1.4 billion valuation by 2026, driven by projected 30X revenue multiples—a benchmark set by top-tier Silicon Valley disruptors.

PALO ALTO, Calif., May 17, 2025 /PRNewswire/ — CHAI, a fast-rising AI startup in Palo Alto, is rapidly emerging as the next unicorn with explosive revenue growth of 250%, surpassing industry leaders like Databricks (127%), SpaceX (139%), and Anthropic (220%). With a last valuation of $450 million more than a year ago, CHAI is on track to achieve a $1.4 billion valuation by 2026, driven by projected 30X revenue multiples—a benchmark set by top-tier Silicon Valley disruptors.

With a valuation of $450 million 16 months ago, CHAI is experiencing explosive revenue growth of 250%, surpassing high-profile companies including Anthropic (220%), Midjourney (167%), SpaceX (139%), and Databricks (127%). With 2024 revenue of $18 million and projections to reach or even surpass $45 million by the end of 2025, CHAI’s trajectory places it among the elite tier of tech innovators.

Industry analysts tracking CHAI’s meteoric rise predict revenue multiples of 30X to 32X by 2026, potentially driving the company’s valuation to approximately $1.4 billion. This remarkable growth rate exceeds some of today’s most valuable startups, including Anthropic and SpaceX.

While CHAI doesn’t have plan to start it’s next fund raising round, investors and industry observers are taking note of its extraordinary performance metrics, positioning the company as the next breakthrough success in Silicon Valley’s competitive landscape.

Was CHAI the first AI Platform? CHAI was the first consumer AI product to reach 1 million users, leveraging the open-sourced LLM GPT-J, before ChatGPT or Llama.

What is CHAI? CHAI is a social AI platform where users can create their own AI. Since its launch three years ago, CHAI has experienced significant growth, particularly among Gen Z users. Now, to support further growth and wider adoption, CHAI has redesigned its brand.

Can you use CHAI AI in a browser? As of March 2025, no. CHAI is focused on delivering the most engaging social AI experience by hiring talented engineers to refine its app. While there are currently no plans for a web app, this may change in the future.

Is CHAI AI safe? CHAI has implemented a range of safety features that allow users to engage in dynamic chats while encouraging them to stay within established guidelines. By building better AI, CHAI aims to enhance user value and experience.

What makes CHAI special? CHAI is designed to be the most engaging social AI, delivering highly entertaining conversations. Many users rely on it to craft interactive stories and immersive experiences.

Why do people love CHAI? CHAI employs advanced AI techniques to increase the entertainment value of its bots. Users chat with AI to write interactive novels and have engaging conversations, supported by a variety of genres that appeal to avid novel readers.

Sometimes regarded as the best free AI chatbot, CHAI is paving its way to widespread adoption of conversational social AI for entertainment.

Who is the founder? William Beauchamp is a 2x founder, first started building CHAI with his sister in Cambridge UK in 2020. After building the first AI chat platform they relocated to Palo Alto.

Are they hiring? CHAI is a rapidly growing company that is known for paying very high salaries with an intense culture focused on delivering results and iterating quickly. Apply on CHAI’s website.

Press Contact:

Tom Lu
+1 (626) 594-8966
https://www.chai-research.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/chai-the-social-ai-platform-on-track-to-hit-1-4b-valuation-in-2026–302458266.html

SOURCE Chai Research Corp

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Technology

GMI Cloud Scales Up With New HQ in Mountain View, CA

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5 hours ago

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May 17, 2025

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GMI Cloud deepens existing Silicon Valley roots, prioritizing collaboration with leading AI innovators 

MOUNTAIN VIEW, Calif., May 16, 2025 /PRNewswire/ — GMI Cloud, a fast-rising provider of GPU-as-a-Service infrastructure purpose-built for AI, today is proud to announce it has moved its headquarters from San Jose, CA to Mountain View, CA to provide more open space for its growing team and the local growing AI native startup community. From hackathons, meetups, technology industry events and more, the closer proximity to top universities and colleges will help GMI Cloud continue to foster the rapid growth of AI throughout Silicon Valley and on a global level.

The new office comes amid strong momentum for GMI Cloud. Since its funding announcement last year, the company has grown exponentially in customers and partnerships, increasing AI development all over the world. However, GMI Cloud has been a global company since day one, with data centers in Taiwan, Malaysia, Mexico, and the U.S. Its global data center network makes it uniquely able to provide flexible, cost-effective computing solutions without the disruption of geopolitical changes. Customers can scale their AI capabilities without unexpected cost surprises. This new office signifies its commitment to AI innovators in Silicon Valley and beyond.

“Bringing GMI Cloud to Mountain View allows for employees to enjoy what the local community has to offer while keeping us in the epicenter of Silicon Valley,” said Alex Yeh, CEO of GMI Cloud. “We are accelerating quickly and we find it incredibly valuable to have the right home base to host our partners, customers, and employees.”

For more information about GMI Cloud and hiring opportunities, visit www.gmicloud.ai.

About GMI Cloud
GMI Cloud is a global company that delivers full-stack, U.S.-based GPU infrastructure and enterprise-grade inference services built to scale AI products. Whether training foundation models or deploying real-time agents, GMI gives teams full control of performance, costs, and launch velocity. With on-demand and reserved GPU clusters for all workloads and projects, GMI helps AI teams build without limits. GMI Cloud is based in Mountain View, CA.

View original content to download multimedia:https://www.prnewswire.com/news-releases/gmi-cloud-scales-up-with-new-hq-in-mountain-view-ca-302458273.html

SOURCE GMI Cloud

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