HANGZHOU, China, July 26,
2022 /PRNewswire/ -- Jiuzi Holdings, Inc.
(NASDAQ: JZXN; the "Company"), a leading new energy vehicle (NEV)
dealership group under the brand name "Jiuzi" in China, today announced that it successfully
held a business conference (the "Conference") at the Company's
headquarters in Hangzhou to
further its continuous effort in expanding its geographical
presence via cooperation with other leading EV brands in
China.
The Conference was held with the presence of Kunshan Baoneng
Auto Sales Co., Ltd. ("Kunshan Baoneng"), the subsidiary of Baoneng
Auto Group Ltd. ("Baoneng Auto"), with which the Company executed a
Letter of Intent (the "LOI") executed in June to allow the Company
to distribute Baoneng Auto's "Youbaoli" brand electric cars in
Zhejiang Province. This conference
served as a follow-up co-marketing campaign by both companies in an
effort to attract potential franchisees to join JZXN, and gave
Kunshan Baoneng an opportunity to showcase its new EV model as well
as its brand. At the end of the Conference, eight prospective
franchisees entered into the Letters of Intent in Franchising (the
"Franchising LOI") with the Company, among which six prospective
franchisees paid the deposit to the Company immediately after the
execution of the Franchising LOI.
"We are excited to see that our new marketing strategy has been
proven effective," said Mr. Shuibo Zhang, CEO of Jiuzi Holdings,
Inc. "We are seeking collaboration with premium NEV start-ups, such
as Baoneng and Aiways, to explore our retail distribution channel.
On the one hand, our competitive advantages in nationwide
distribution, state-of-the-art terminal sales management and supply
chain management can help NEV start-ups quickly build up the retail
terminals cost-effectively through our established franchise model.
On the other hand, with the help of the brand prestige of our
automaker partners, we can easily attract more and more decent
prospective franchisees. I believe this win-win model could foster
business synergies for both companies."
About Jiuzi Holdings, Inc.
Jiuzi Holdings, Inc., headquartered in Hangzhou, China, and established in 2017,
franchises and operates retail stores under the brand name "Jiuzi"
to sell New Energy Vehicles ("NEVs") in third and fourth-tier
cities in China. The Company
mainly sells battery-operated electric vehicles and sources NEVs
through more than twenty NEV manufacturers. It has 51 operating
franchise stores and one company-owned store. For more information,
visit the Company's website at http://www.zjjzxny.cn/.
Forward-Looking Statements
All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties. They
are based on current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy,
and financial needs, including the expectation that the Offering
will be completed. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent events,
circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct. The Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and its
other filings with the SEC.
For more information, please contact:
Stephen Tong
Email: jiuzi@mana-ir.com
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SOURCE Jiuzi Holdings, Inc.