Welcome to our dedicated page for China Jo-Jo Drugstores news (Ticker: CJJD), a resource for investors and traders seeking the latest updates and insights on China Jo-Jo Drugstores stock.
China Jo-Jo Drugstores Inc. (NASDAQ: CJJD) operates at the intersection of pharmaceutical retail, e-commerce, and wholesale distribution in China's dynamic healthcare market. This page serves as the definitive source for verified company announcements, financial updates, and operational developments.
Investors and industry observers will find curated press releases covering quarterly earnings, strategic partnerships, regulatory milestones, and market expansion initiatives. Our collection emphasizes the company's unique position in bridging traditional pharmacy services with modern e-commerce platforms like Tmall and JD.com.
Regular updates provide insights into CJJD's evolving business strategy, including its focus on wholesale distribution growth and asset-light operations. Bookmark this page to monitor how the company navigates China's competitive pharmaceutical landscape while maintaining compliance with healthcare regulations.
China Jo-Jo Drugstores (NASDAQ: CJJD) announced a strategic restructuring initiative to transform into an asset-light, wholesale-focused company. The restructuring involves two key transactions:
1. The acquisition of Allright Internet Technology through an equity exchange of 2,225,000 ordinary shares (38% of outstanding shares post-transactions)
2. The sale of Jo-Jo's retail business to current CEO Lei Liu and director Li Qi in exchange for their 2,548,353 ordinary shares surrender
The transactions are expected to close in Q1 2025, subject to shareholder approval. Following closure, Liu and Qi will resign from their positions, and Allright's ultimate shareholder, Lingtao Kong, will join the board. Current CFO Frank Zhao will become interim CEO to oversee operations and business integration.
China Jo-Jo Drugstores (CJJD) reported its fiscal year 2024 financial results, showing a 3.8% increase in revenue to $154.54 million. The company's wholesale business saw significant growth of 42.1%, reaching $47.00 million. However, retail drugstore revenue decreased by 9.2% to $75.68 million, and online pharmacy revenue slightly declined by 1.6% to $31.86 million.
The company's gross profit decreased by 9.3% to $31.11 million, with gross margin falling from 23.0% to 20.1%. Despite this, Jo-Jo Drugstores managed to reduce its net loss to $4.23 million, a significant improvement from the $21.14 million loss in the previous year. The company's cash position improved to $20.15 million as of March 31, 2024.
China Jo-Jo Drugstores (Nasdaq: CJJD) announced a $3.37 million registered direct offering, issuing 1.98 million ordinary shares at $1.70 per share. The deal is set to close around June 26, 2024, subject to standard closing conditions. Proceeds will be used for general corporate purposes and working capital. The offering is underpinned by a shelf registration statement on Form F-3, effective since December 19, 2022. For more details, investors can access the prospectus on the SEC's website.
China Jo-Jo Drugstores is a prominent online and offline retailer and distributor of pharmaceutical and healthcare products in China, also offering healthcare services through its retail locations and online pharmacy.
China Jo-Jo Drugstores (Nasdaq: CJJD), a major retailer, wholesaler, and healthcare provider in China, announced a change in its board of directors on May 31, 2024. Effective immediately, Ms. Pingfan Wu resigned from her position on the board due to personal reasons. The company clarified that her resignation was not due to any disagreements related to business operations, financial reporting, or company policies.
China Jo-Jo Drugstores, Inc. announced a registered direct offering of 1.61 million ordinary shares at a purchase price of $1.70 per share, totaling $2.74 million in gross proceeds. The offering is expected to close on May 17, 2024. The company plans to use the net proceeds for general corporate purposes and working capital. The shares are offered under an effective shelf registration statement on Form F-3.
China Jo-Jo Drugstores, Inc. announced a registered direct offering of 0.9 million ordinary shares at $1.70 per share, totaling $1.53 million. The offering is expected to close on or about April 30, 2024, with proceeds intended for general corporate purposes and working capital. The shares are offered under a shelf registration statement on Form F-3, declared effective by the SEC in December 2022.
FAQ
What is the current stock price of China Jo-Jo Drugstores (CJJD)?
What is the market cap of China Jo-Jo Drugstores (CJJD)?
