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Jiuzi Holdings, Inc. (NASDAQ: JZXN), headquartered in Hangzhou, China, and established in 2017, is a prominent player in the new energy vehicle (NEV) market. Operating under the brand name 'Jiuzi', the company focuses on selling battery-operated electric vehicles primarily in third and fourth-tier Chinese cities. Jiuzi Holdings franchises and operates retail stores, offering a comprehensive range of NEVs sourced from over twenty manufacturers. With 51 franchise stores and one company-owned store, Jiuzi is dedicated to expanding its footprint in the rapidly growing NEV market.
The company generates most of its revenue from the NEV segment, which includes the sale of plug-in electric vehicles directly to consumers. Jiuzi Holdings also provides franchise services, supporting its franchisee network with training, marketing, and operational assistance.
In recent developments, Jiuzi Holdings announced a non-binding letter of intent (LOI) for the acquisition of Shenzhen Maigesong Electric Technology Co., Ltd. This strategic move aims to bolster Jiuzi's capabilities in the NEV sector by investing RMB 30 million to build a rechargeable lithium battery production line. The acquisition will be executed in stages, with the investment split into two equal parts by the end of April 2024 and November 2024, respectively.
However, the company faces challenges as it received a notification from Nasdaq for not meeting the minimum bid price requirement, with its Class A ordinary shares trading below $1.00 for 30 consecutive business days. This development underscores the financial hurdles Jiuzi Holdings must navigate as it pursues growth and market expansion.
Despite these challenges, Jiuzi Holdings is committed to achieving significant revenue targets, as highlighted in the LOI with Shenzhen Maigesong. The agreement includes an earnout provision, targeting revenues of RMB 119.81 million by the end of December 2025 and RMB 504.22 million by December 2026. This provision motivates both parties to work collaboratively toward sustained growth and development.
For more information, visit the Company's website at http://www.zjjzxny.cn/.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) has received a cash subsidy of RMB 10 million from the Xiaoshan District government in Hangzhou, China. This incentive is part of the 'Phoenix Action 2.0' plan, aimed at boosting local enterprises that successfully accessed capital markets. Jiuzi is highlighted as the only U.S.-listed company from Xiaoshan in 2021. CEO Shuibo Zhang emphasized that this recognition supports Jiuzi's growth strategy and commitment to achieving carbon neutrality in China by 2060, while expanding their new energy vehicle retail ecosystem.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) has announced a two-year strategic cooperation agreement with Shanghai Zhongtongji E-Commerce Co. Ltd. This partnership will explore the application of new energy delivery vehicles to enhance "green" logistics. Zhejiang Jiuzi will provide vehicles and optimal discounts to Zhongtongji's major clients. The collaboration aims at expanding into the E-Commerce logistics segment, catering to the increasing demand from domestic E-commerce and government initiatives promoting new energy vehicles. This agreement is seen as a significant recognition of Jiuzi's brand in the retail market.
Jiuzi Holdings, Inc. (NASDAQ:JZXN) announced a sales cooperation agreement with Brilliance Xinri Automobile Sales Co. Ltd. on November 26, 2021. The agreement allows Jiuzi to establish a franchise store in Hangzhou City for promoting and selling Brilliance Xinri's electric vehicles (EVs). Jiuzi will initially order 24 EV units and aims to sell 20 units monthly, projecting revenue between RMB8-10 million for 2022. The partnership underscores Jiuzi's expanding footprint in the EV market, further enhanced by training support from Brilliance Xinri.
Jiuzi Holdings, Inc. (NASDAQ:JZXN) has announced a partnership with Zhejiang Youxing New Energy Co., Ltd. to collaborate on the procurement and sales of Ruichi Electronic Vehicles in China. The agreement involves providing Youxing with a RMB 10 million credit line, targeting sales of up to 1000 EVs in 2022. This partnership aims to generate approximately RMB 35-45 million in revenue for Jiuzi. The cooperative model is designed to alleviate Youxing's financial burden while minimizing Jiuzi's risk in case of defaults on the loan.
Jiuzi Holdings, Inc. (NASDAQ:JZXN) reported significant growth, expanding its franchise store count by over 40% from April 1 to October 31, 2021. The company is engaging with approximately 12 new brands for potential collaborations, aiming for over RMB20 million in revenue for Q1 2022. This expansion aligns with China's commitment to promoting new energy vehicles, targeting 40% clean energy vehicle usage by 2030. The launch of JZXN's APP beta version is set to create a comprehensive marketplace, enhancing business growth. JZXN is positioned as a leader in the new energy sector.
Jiuzi Holdings, Inc. (NASDAQ:JZXN) has entered into a strategic cooperation agreement with EGO Group, a leading industry park operator in China. This partnership enables JZXN to offer discounted new energy vehicle purchasing and renting services to EGO's clients while EGO promotes JZXN's products through its mobile application.
Additionally, JZXN will establish demonstration centers in EGO's industrial parks, enhancing engagement with local government for policy support. This collaboration aims to boost both companies' market presence and client services in the new energy vehicle sector.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) announced the official launch of its Southern China Operation Center on September 29, 2021, to enhance its market share in Southern China. This new center, located in Nanning, aims to expand JZXN's geographical presence and operational contributions. The company has also entered a strategic partnership with Nanning Huangyang Automobile Sales Limited to boost sales of new energy vehicles in the region. CEO Mr. Shuibo Zhang highlighted the importance of this move as part of JZXN's growth strategy since its NASDAQ debut in May 2021.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) announced a strategic cooperation agreement with Shaanxi Tongjia Auto Co., Ltd. on September 19, 2021. Tongjia will supply 2,000 new energy vehicles, including the Electric OX II, for sale through JZXN's retail stores in 2021 and 2022. The Company plans to provide a loan of RMB20 million to Tongjia's dealers to support working capital. This collaboration aims to enhance market presence in China's third and fourth-tier cities, leveraging both companies' resources to meet the growing demand in the new energy vehicle sector.
Jiuzi Holdings (JZXN) reported remarkable financial growth for the six months ending April 30, 2021, with net revenues soaring by 260.88% to $4.61 million. Gross profit rose to $3.12 million, achieving a gross margin of 67.75%. The company shifted from a net loss of $0.03 million in 2020 to a net income of $1.31 million. This turnaround is attributed to a significant increase in initial franchise fees, which grew 369.19% to $4.59 million and the addition of 86 franchisees. JZXN aims to leverage strategic partnerships and expand its market presence.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) announced a strategic cooperation agreement with Chongqing Ruichi Automobile Industry Co., Ltd. on June 25, 2021. Ruichi will supply 500 logistics vehicles to JZXN, strengthening bilateral business advantages. Ruichi leads the new energy logistics vehicle market, achieving over 10,000 vehicle sales and capturing a 17.51% market share. JZXN operates 31 stores in China, with plans for over 100 additional locations, enhancing access to the new energy vehicle market. This partnership aligns with the growing demand for new energy vehicles in China.
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