China Jo-Jo Drugstores Receives Hangzhou Municipal People's Government Quality Management Excellence Award

HANGZHOU, China, May 2, 2023 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (Nasdaq: CJJD) ("Jo-Jo Drugstores" or the "Company"), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products and healthcare provider in China, today announced that the Company had received the Hangzhou Municipal People's Government Quality Management Excellence Award (the "Award"), the most prestigious quality recognition established by Hangzhou Municipal People's Government and reviewed by the Market Supervision and Administration Bureau of Hangzhou City.

Established in 2010, the Award is designed to recognize enterprises or organizations that have implemented exceptional performance management and created notable economic and social benefits in areas such as production, construction, services, and environmental protection. The Company is one of the only five companies selected for the Award, reflecting recognition of the Company's accomplishments in promoting quality management innovation and achieving performance excellence.

After 20 years of effort, the Company has evolved into a comprehensive healthcare service enterprise providing wholesale, retail, and e-commerce of pharmaceuticals, medical treatment services, traditional Chinese medicine planting, health management, and medical technology. Jo-Jo Drugstores keeps innovating its business model and has become one of the first commercial insurance designated pharmacies in China, the first online e-commerce drugstore in Zhejiang Province (one of the wealthiest provinces in China with over $1 trillion nominal GDP), the first private medical institution with Internet hospital qualifications licensed by the Zhejiang Provincial Health Commission, one of the first future community pilot units in Zhejiang Province, one of the first five-star people's livelihood pharmaceutical service stations in Zhejiang Province, and one of the first new retail enterprises in Hangzhou (the capital and largest city of Zhejiang Province). The Company has been ranked among the Top 100 chain drugstores in China in terms of value and comprehensive strength for three consecutive years, with rapid growth in overall business, store expansion, new retail business, and B2C sales.

Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, "We are deeply honored to be selected for the Award, which is a testament and encouragement to the Company. We view this as the opening of a new charter for the Company's future growth. Moving forward, Jo-Jo Drugstores will continue to optimize the excellent performance management system, actively foster the high-quality development of the Company, and serve as an exemplary enterprise within the industry. We will align ourselves with the development plan as outlined in the project of 'Healthy China 2030', and strive to make further contributions to building a robust city of quality in Hangzhou while supporting local economic and social progress."

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc. ("Jo-Jo Drugstores" or the "Company"), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a provider of healthcare services in China. Jo-Jo Drugstores currently operates an online pharmacy and retail drugstores with licensed doctors on site for consultation, examination and treatment of common ailments at scheduled hours. It is also a wholesale distributor of products similar to those carried in its pharmacies. For more information about the Company, please visit http://jiuzhou360.com. The Company routinely posts important information on its website.

Forward-Looking Statements

This press release contains information about the Company's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company's encourages you to review other factors that may affect its future results in the Company's annual reports and in its other filings with the Securities and Exchange Commission.

For more information, please contact:

Company Contact: 

Frank Zhao
Chief Financial Officer
+86-571-88077108
[email protected] 

Investor Relations Contact:

Tina Xiao
Ascent Investor Relations LLC
+1-917-609-0333
[email protected] 

SOURCE China Jo-Jo Drugstores, Inc.