Jiuzi Holdings, Inc. reports corporate developments tied to its new energy and electric vehicle business, Southeast Asian commercial vehicle activity, and Digital Asset Treasury framework. Company news has included electric heavy-duty truck initiatives for Vietnam, digital asset investment activity involving the Distributed Capital Intelligence Protocol, crypto-related treasury governance, private placements, and share repurchase authorization.
Recurring updates also cover capital allocation, ordinary-share financing, risk controls for digital asset custody and on-chain processes, and governance changes affecting the Nasdaq-listed foreign private issuer.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) has signed a one-year strategic cooperation agreement with Jiangsu Skywell Automobile Co., Ltd. The agreement allows Jiuzi to use the 'Skyworth' trademark and sell the new EV6 SUV series during 2022-2023, with a plan to purchase 500 electric vehicles. The EV6 features a range of up to 600km for the full-electric variant. CEO Shuibo Zhang highlighted the agreement's potential to generate approximately RMB60 million in income, reinforcing Jiuzi's commitment to expanding its presence in China’s new energy vehicle market.
Jiuzi Holdings, Inc. (NASDAQ: JZXN) reported a 16.15% increase in net revenues for fiscal year 2021, totaling $9.54 million, up from $8.21 million in 2020. Gross profit from new energy vehicle sales rose to $0.04 million, a 36.20% increase. However, net income fell by 77.27% to $0.78 million, with earnings per share declining to $0.04. Despite COVID-19 challenges, the company expanded its franchise network and cash reserves to $7.37 million. Future growth is supported by new strategic partnerships and plans for a customer management platform.
Jiuzi Holdings, Inc. (NASDAQ: JZXN), a new energy vehicle retailer in China, announced a one-year strategic cooperation agreement with Jiangsu Jemmell New Energy Vehicle Industry Co., Ltd. Under this agreement, Jiuzi will sell Jemmell's LINGBOX series electric vehicles during 2022-2023, purchasing up to 5,000 units. Jemmell will provide favorable sales policies, and both companies will collaborate on business initiatives. The partnership is projected to generate RMB60 million in sales, enhancing Jiuzi's growth potential in the electric vehicle market.
Jiuzi Holdings, Inc. (NASDAQ:JZXN) announced a two-year strategic cooperation agreement with Zhejiang Farizon Zhitong Technology Co. Ltd. on December 25, 2021. The collaboration aims to explore the use of new energy delivery vehicles within China's express delivery network, partnering with leading companies like ZTO Express. Jiuzi will leverage its existing relationships to promote Farizon's vehicles, benefiting from preferential purchase policies. CEO Shuibo Zhang expressed optimism about this partnership, emphasizing its potential financial contributions and industry recognition for Jiuzi in the new energy vehicle market.
On January 19, 2022, Jiuzi Holdings, Inc. (NASDAQ:JZXN) announced that its subsidiary, Zhejiang Jiuzi New Energy Vehicles Co., Ltd., received the "2021 Annual Industry Leading Enterprise" Award at the 5th Boao Enterprise Forum in Hainan, China. This recognition highlights the company's strong performance and brand influence in the new energy vehicle sector. Chief Operation Officer Qi Zhang represented the company and discussed its strategies for O2O vehicle retail services aimed at enhancing collaboration in the industry. Jiuzi aims to support China's environmental goals through innovative NEV solutions.
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.