KBS FASHION GROUP LIMITED

Sun Lei, CEO of Luxventure, has been appointed as President of Cross-Border Merchants Association of Hainan Province

Retrieved on: 
Monday, September 27, 2021
KBS, Security (finance), Person, Sale, Private Securities Litigation Reform Act, NASDAQ, U.S. Securities and Exchange Commission, Cross, CMA, Association, WMS, Local government, Company, Interactive Entertainment Merchants Association, BBC, Government, Drug

This press release may contain certain "forward-looking statements" relating to the business of KBS Fashion Group Limited, and its subsidiary companies.

Key Points: 
  • This press release may contain certain "forward-looking statements" relating to the business of KBS Fashion Group Limited, and its subsidiary companies.
  • Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
  • 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.

Luxventure Entered into Agreement with Tianjin China Travel Cultural Development Company, a subsidiary of China Travel Services

Retrieved on: 
Thursday, September 16, 2021
U.S. Securities and Exchange Commission, Security (finance), Technology, Company, Private Securities Litigation Reform Act, China Travel Service, Agreement, BBC, NASDAQ, Person, KBS, CTS, Sale

SHISHI, China, Sept. 16, 2021 /PRNewswire/ -- KBS Fashion Group Limited ("KBS" or the "Company") (NASDAQ: KBSF), a leading fully-integrated casual menswear company in China and through the brand of Luxventure, engaging in cross-border merchandise, airfare and tourism business, announced today that through Hua Zhi Guan (Hainan) Cross-Border E-Commerce Co., Ltd., Luxventure closed a Business Strategic Agreement ("Agreement") with Tianjin China Travel Cultural Development Company ("TCTCD"), a subsidiary of China Travel Services ("CTS"). The Agreement was entered into on September 15, 2021 and the transaction closed on the same day.

Key Points: 
  • The Agreement was entered into on September 15, 2021 and the transaction closed on the same day.
  • Pursuant to the Agreement, Luxventure will cooperate with TCTCD to jointly develop an online, mobile and offline cross-border BBC system, which would enable members of TCTCD access to cross-border products of Luxventure.
  • Ms. Sun Lei, Chief Executive Officer of the Company commented: "TCTCD has 106 stores in the city of Tianjin serving approximately 13,000,000 residences.
  • Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Luxventure Entered into Agreement with Hainan Supply and Marketing Daji Digital Technology Industry Co., Ltd., the cross-border E-commerce subsidiary of Hainan Airline

Retrieved on: 
Tuesday, September 7, 2021

The Agreement was entered into on August 31, 2021 and the transaction closed on the same day.

Key Points: 
  • The Agreement was entered into on August 31, 2021 and the transaction closed on the same day.
  • Pursuant to the Agreement, HSMDD will integrate Luxventure's on-line store on the Youzhan platform into its eco-system, thus allowing members of Hainan Airline access to Luxventure's cross-border merchandise.
  • We look forward to more companies to adopt our technology and in turn, become a partner of Luxventure."
  • Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

KBS Fashion Group Limited Announces First Half of 2021 Financial Results

Retrieved on: 
Friday, September 3, 2021
Private Securities Litigation Reform Act, Person, Company, Sale, KBS, Security (finance), U.S. Securities and Exchange Commission

Headquartered in Shishi,China, KBS Fashion Group Limited, through its subsidiaries, is engaged in the business of i) designing, manufacturing, selling and distributing its own casual menswear brand, KBS, through a network of 30KBS branded stores (as ofDec 31, 2019)and over a number of multi-brand stores.

Key Points: 
  • Headquartered in Shishi,China, KBS Fashion Group Limited, through its subsidiaries, is engaged in the business of i) designing, manufacturing, selling and distributing its own casual menswear brand, KBS, through a network of 30KBS branded stores (as ofDec 31, 2019)and over a number of multi-brand stores.
  • This press release may contain certain "forward-looking statements" relating to the business of KBS Fashion Group Limited, and its subsidiary companies.
  • Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
  • Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

KBSF Files Annual Report on Form 20-F for Fiscal Year 2020

Retrieved on: 
Monday, May 17, 2021
Agencies of the United States government, United States Securities Regulation, U.S. Securities and Exchange Commission, SEC filings, United States securities law

The annual report can be accessed on the SEC\'s website at http://www.sec.gov .\nMs.

Key Points: 
  • The annual report can be accessed on the SEC\'s website at http://www.sec.gov .\nMs.
  • Sun Lei, Chief Executive Officer of the Company commented: "We are excited about the growth of Luxventure, our social media based cross-border E-commerce platform.
  • Since the platform launch during the third quarter of 2020, it generated a revenue of USD1,355,374, which is a growth of 1,355,374%.
  • Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.\n'

KBSF Formed an Environmental, Social and Governance Committee and Luxventure closed a Digital Payment with Lakala Payment Co., Ltd. for Digital Renminbi

Retrieved on: 
Monday, April 12, 2021
Renminbi, Money, Economy

"\nOn March 24, 2021, through Hua Zhi Guan (Hainan) Cross-Border E-Commerce Co., Ltd, Luxventure closed a Digital RMB Acceptance Agreement ("Agreement") with Lakala Payment Co., Ltd. ("LKL"), a leading third-party on-line payment operator.

Key Points: 
  • "\nOn March 24, 2021, through Hua Zhi Guan (Hainan) Cross-Border E-Commerce Co., Ltd, Luxventure closed a Digital RMB Acceptance Agreement ("Agreement") with Lakala Payment Co., Ltd. ("LKL"), a leading third-party on-line payment operator.
  • The Agreement was entered into on March 24, 2020 and the transaction closed on the same date.
  • Sun Lei, Chief Executive Officer of the Company commented: "Digital Renminbi will be the future of digital payment in China.
  • Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.\n'

Luxventure Promoted Liu Zie, an Expert in Blockchain, Artificial Intelligence and Internet of Things, as its Chief Technology Officer

Retrieved on: 
Monday, April 5, 2021

With over 20 years of experience, Mr. Liu Zie is a leading expert in the China information technology sector.

Key Points: 
  • With over 20 years of experience, Mr. Liu Zie is a leading expert in the China information technology sector.
  • Ms. Sun Lei, Chief Executive Officer of the Company, commented: "I congratulate Liu Zie on this promotion.
  • One of the key reasons for joining Luxventure is the vision of its CEO and its focus on cutting edge technology.
  • I am happy for the opportunity to bring my expertise in Blockchain, Artificial Intelligence and Internet of Things to the company.

Luxventure Closed a Cross-Border Payment Agreement with Hainan New Generation Technology Co., Ltd. for Digital Payments

Retrieved on: 
Monday, March 29, 2021
Renminbi, Digital currency, E-commerce, Economy, Trade, Industry economics)

The Agreement was entered into on December 25, 2020 and the transaction closed on March 15, 2021.

Key Points: 
  • The Agreement was entered into on December 25, 2020 and the transaction closed on March 15, 2021.
  • Pursuant to the Agreement, Luxventure will cooperate with HNGT in connection with on-line payment for cross-border transactions.
  • As part of the cooperation, Luxventure will be the first E-commerce cross-border merchandise operator from Hainan to test the digital Renminbi, the on-line currency issued by the Central Bank of China.
  • HNGT has an extremely strict criteria for cooperation and it took Luxventure almost three months to meet its qualifications.

The Board of Directors of KBSF Authorized and Declared a Shareholder Rights Plan

Retrieved on: 
Monday, March 15, 2021
Stock market, Security, 6K

The Board of Directors of the Company adopted the Rights Agreement to protect stockholders from coercive or otherwise unfair takeover tactics.

Key Points: 
  • The Board of Directors of the Company adopted the Rights Agreement to protect stockholders from coercive or otherwise unfair takeover tactics.
  • However, neither the Rights Agreement nor the Rights should interfere with any merger, tender or exchange offer or other business combination approved by the Board.
  • The company has filed a 6K with the Securities and Exchange Commission in connection with the details of this plan.
  • Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

KBS Fashion Group Limited Announces Second Quarter and First Half of 2020 Financial Results

Retrieved on: 
Thursday, September 24, 2020

Total gross profit decreased by $1.19 million, or 69.6%, to $0.52 million for the second quarter of 2020 from $1.71 million for the same period of last year.

Key Points: 
  • Total gross profit decreased by $1.19 million, or 69.6%, to $0.52 million for the second quarter of 2020 from $1.71 million for the same period of last year.
  • Gross profits for distribution network, corporate stores and OEM were $0.45 million, $0.06 million, and $0.02 million, respectively, for the second quarter of 2020, compared to $0.82 million, $0.12 million, and $0.77 million, respectively, for the same period of last year.
  • Overall gross margin was 23.1% for the second quarter of 2020, compared to 38.6% for the same period of last year.
  • Administrative expenses decreased by $0.10 million, or 11.4%, to $0.76 million for the second quarter of 2020 from $0.86 million for same period of last year.