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Overview of Jiuzi Holdings Inc.
Jiuzi Holdings Inc. (JZXN) is an innovative automotive franchise operating under the well-recognized brand name "Jiuzi". Established to serve the growing demand for new energy vehicles and enhanced electric vehicle solutions in China, the company has strategically focused its operations on third and fourth-tier cities. With a diverse business model that seamlessly combines a proprietary product segment and a resale model for sourced equipment and accessories, Jiuzi Holdings offers a comprehensive retail experience in the NEV market.
Business Model and Operational Segments
The operational framework of Jiuzi Holdings Inc. is based on two critical segments:
- Proprietary Product Segment: This forms the cornerstone of the company’s revenue generation. By focusing on its branded product offerings, the firm has developed a direct connection with consumers, providing tailored electric vehicle solutions that cater to the needs of lower-tier market segments. This approach not only builds brand equity but also ensures a consistent quality standard across its offerings.
- Resale of Sourced Equipment and Accessories: Complementing the proprietary offerings, this segment involves the distribution of third-party products and accessories. This diversified portfolio allows the company to attract a wider customer base and provides an additional revenue stream by meeting the diverse requirements of vehicle buyers.
The combination of these segments illustrates Jiuzi Holdings Inc.'s adaptive strategy in the competitive landscape of the new energy vehicle sector, balancing direct customer engagement with strategic partnerships and collaborations to remain relevant and innovative.
Jiuzi Holdings (NASDAQ: JZXN) announced the termination of acquisition negotiations with Shenzhen Maigesong Electric Technology. The parties failed to reach consensus on cooperation model, resource integration, and strategic objectives. Initially, JZXN planned to fully acquire Shenzhen Maigesong to support lithium battery production and market expansion. Despite the termination, JZXN views the experience as valuable for understanding industry trends and evaluating high-potential projects. The company remains focused on advancing in the renewable energy sector, driving innovation, and pursuing global expansion while maintaining its core business of franchising and operating 51 franchise stores and one company-owned store selling New Energy Vehicles in China.
Jiuzi Holdings, a leading NEV dealership group in China, announced a 1-for-13 reverse share split of its ordinary shares, effective July 3, 2024. This move aims to meet the Nasdaq's $1.00 minimum bid price requirement. Post-split, shares will trade under the symbol 'JZXN' with a new CUSIP number, G51400136. The reverse split will reduce outstanding shares from approximately 135.3 million to 10.4 million. No fractional shares will be issued; any fractional interests will be rounded up. Shareholders approved this action on February 15, 2024. Transhare will manage the process.
Jiuzi Holdings (NASDAQ: JZXN), a new energy vehicle dealership group in China, announced it received a notification from Nasdaq on May 16, 2024, regarding non-compliance with the minimum bid price rule. The Company's stock price has been below $1 for 30 consecutive business days. JZXN has until November 12, 2024, to regain compliance by maintaining a closing bid price of at least $1 for 10 consecutive business days. If unsuccessful, JZXN may be granted an additional 180 days to comply, potentially requiring a reverse stock split. Previously, on March 29, 2024, JZXN received a Nasdaq notification for failing to timely file its 2023 Annual Report. This issue was resolved on May 20, 2024, when JZXN filed the report.
FAQ
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