JX Luxventure Limited (NASD: JXJT) witnessed a remarkable surge in its stock shares during the morning session on Wednesday, soaring by an impressive 33.91% and reaching a substantial value of $3.12.
This surge in value was accompanied by an extraordinary trading volume, with a total of 3.87 million shares being exchanged, significantly surpassing the average session volume of 0.06 million shares.
The notable rise in JXJT stock can be directly attributed to the recent unveiling of a groundbreaking Artificial Intelligence (AI) initiative.
What Initiative Has JXJT Announced?
JX Luxventure (JXJT) made an exciting announcement today regarding its subsidiary, Jinxuan Luxury Tourism (Hainan) Digital Technology Co., Ltd.
They have signed a significant contract with Tianjin Baixing Pharmaceutical Wholesale Co., Ltd. (“Tianjin Baixing”) to develop a medical ERP management platform.
The contract is valued at $1,000,000 and aims to incorporate ChatGPT-type technology into the platform.
JX Luxventure has been actively pursuing advancements in ChatGPT technology within various fields. By collaborating with Tianjin Baixing and integrating their technology products, they plan to launch a demo similar to ChatGPT. This represents a significant milestone in the realm of artificial intelligence and marks a substantial upgrade for JX Luxventure.
Furthermore, they aim to apply ChatGPT-like technology to their luxury tourism, duty-free cross-border merchandise, and tourism technology solutions, expanding the range of applications for ChatGPT and related technologies.
Additionally, JX Luxventure has filed an amendment to its annual report with the SEC, specifically to include the required Interactive Data File disclosure (“XBRL”). The report highlights JXJT’s impressive financial performance, with total revenue increasing by 35% from $54.01 million in 2021 to $79.9 million in 2022. The company also maintains a substantial shareholders’ equity of $12.33 million.
How Will JXJT Proceed Further?
Looking ahead, JX Luxventure (JXJT) plans to continue exploring the synergy between artificial intelligence and its service project industry chain.
Since winning the prestigious Best Virtual Human Software Technology Service Provider award at the 2022 China Virtual Human Innovation Awards, JXJT has been dedicated to advancing in this direction.
In February 2023, they announced their deep and extensive research into ChatGPT technology. The collaboration with Tianjin Baixing on a ChatGPT-like demo serves as a testament to JX Luxventure’s immense potential for commercial value through innovation.
