China Jo-Jo Drugstores Announces Celebration of its 20th Anniversary

HANGZHOU, China, Nov. 8, 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 its 20th Anniversary Ceremony (the "Ceremony") was held in Hangzhou. The Ceremony not only marks a milestone in the Company's history, but also heralds a new chapter for its future growth.

Reflecting on Two Decades of Development

Widespread Operational Reach: Jo-Jo Drugstores currently owns over 120 large and medium-sized stores, characterized by specialized, diversified, and varied services, with the largest store covering 2,000 square meters.
Experienced and Specialized Team: Jo-Jo Drugstores boasts its seasoned team of over 500 licensed pharmacists, drawing expertise from grade A tertiary hospitals in China. Over 50 specialized teams are in place to support chronic disease management, attending to a total of 68.75 million cases, including 29.37 million registered cases of diabetes and 39.38 million cases of hypertension.
Pioneered "Treatment + Medicine" Model in China: Jo-Jo Drugstores operates multiple large outpatient clinics and internet hospitals, and collaborates closely with well-known domestic grade A tertiary hospitals to combine personalized medical treatment, disease prevention, and traditional Chinese medicine ("TCM") rehabilitation services. In physical stores, the Company provides a variety of services including early screening, medical consultation, TCM treatment, disease prevention, massage, and Chinese medicine prescription.
Realized New Retail Business Model: With Jo-Jo Health Applet and online hospitals, the Company offers a seamless, multi-channel online service experience. The innovative model bridges the gaps between community health management, clinics, hospitals, pharmacies, and internet-based healthcare services.

Forging Ahead with Vision and Outlook

The Company will remain steadfast in its effort to integrate pharmacy and healthcare services and continue to explore new frontiers in the field, providing consumers with comprehensive and convenient pharmaceutical and medical solutions.

Unwavering Dedication to Specialized and High-Quality Service

Customer-Centric Initiatives: Jo-Jo Drugstores remains dedicated to understanding and fulfilling customers' needs, leveraging its online consulting, health education, and data to elevate its service quality.
Specialized Chronic Disease Management: The Company is committed to providing chronic disease management services, enhancing the health and wellness of patients through health management, experts' appointment, referral, physical examination, and medical green channel.
High-Quality Service and Compliance Guarantee: The Company will vigorously engage in operating its key pharmaceutical service stations, while ensuring quality services comply with regulations.

Adapting to the Changing Market Through Service Diversification

Initiating Strategic Brand Collaboration: The Company will partner with a variety of domestic pharmaceutical brands to stage special marketing campaigns for domestic brands, leveraging its influence to boost outlet sales and set an example for brand marketing.
Pioneering "Health + Beauty" Model: Jo-Jo Drugstores is developing a new business model with the theme of "Health + Beauty" to develop the sales of cosmetic products and to diversify its product portfolios. In August 2023, the first "Health + Beauty" retail store of the Company was opened, marking the beginning of the Company's development of the "Health + Beauty" business model.
Fostering Industry Connections: The Company, along with eight other pharmaceutical enterprises, are holding supplier-to-retailer meetings as a valuable platform for in-depth dialogues within the industry. The activity is expected to improve the accessibility to high-quality products for the consumers of the Company, satisfying their underlying demands.

Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, "Over the past 20 years, Jo-Jo Drugstores has been at the forefront of China's drugstore chains, with an eye on talents cultivation and facilities improvement. At present, considering the current shifts in policies and market, we're actively seeking strategic transformation of business models and expansion of service portfolio. Moving forward, we are dedicated to the continued innovation in practicing our integrated pharmaceutical and medical services, to cater to our increasingly health-conscious consumers. We continue to prioritize our customers and strive to improve our services. We believe that we will keep up with the market trends, sustain our long-term competitiveness in the market and create long-term value for our shareholders."

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
frank.zhao@jojodrugstores.com

Investor Relations Contact:
Tina Xiao
Ascent Investor Relations LLC
+1- 646-932-7242
investors@ascent-ir.com

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