HANGZHOU, China,
July 1, 2019 /PRNewswire/ -- China Jo-Jo Drugstores,
Inc. (NASDAQ: CJJD) ("Jo-Jo Drugstores" or the "Company"), a
leading online and offline retailer and wholesale distributor of
pharmaceutical and other healthcare products and a healthcare
provider in China, today announced
its financial results for the fiscal year ended March 31, 2019.
Mr. Lei Liu, Chairman and Chief Executive Officer of
China Jo-Jo Drugstores, Inc.,
commented, "We are pleased to present our financial results for our
2019 fiscal year. We increased our top line revenue to $107.55 million for the 2019 fiscal year as
compared to $96.11 million for the
previous fiscal year. Over the course of the 2019 fiscal year we
made great strides in improving our operations and made a key
senior appointment by appointing Mr. Wei
Hu to serve as our new Chief Operating Officer, to
accelerate the transition and digitalization of our company in the
rapidly evolving retail drugstore industry. We look forward to
further improving our operations and continuing to provide
effective and efficient services to our loyal customer base for the
coming years."
Fiscal Year 2019 Financial Highlights
|
|
For the Year Ended
March 31,
|
($ millions,
except per share data)
|
|
2019
|
|
2018
|
|
%
Change
|
Revenue
|
|
107.55
|
|
96.11
|
|
11.9%
|
Retail
drugstores
|
|
72.34
|
|
61.98
|
|
16.7%
|
Online
pharmacy
|
|
8.78
|
|
12.13
|
|
(27.6)%
|
Wholesale
|
|
26.43
|
|
22.00
|
|
20.1%
|
Gross
profit
|
|
25.11
|
|
20.13
|
|
24.8%
|
Gross
margin
|
|
23.3%
|
|
20.9%
|
|
2.4 pp*
|
Loss from
operations
|
|
(0.88)
|
|
(18.02)
|
|
95.1%
|
Net loss
|
|
(1.32)
|
|
(17.06)
|
|
92.3%
|
Loss per
share
|
|
(0.03)
|
|
(0.68)
|
|
95.6%
|
*Notes: pp represents percentage points
- Revenues increased by 11.9% to $107.55
million for the fiscal year ended March 31, 2019 from $96.11
million for the prior fiscal year.
- Gross profit increased by 24.8% to $25.11 million for the fiscal year ended
March 31, 2019 from $20.13 million for prior fiscal year.
- Gross margin increased by 2.4 percentage points to 23.3% for
the fiscal year ended March 31, 2019
from 20.9% for the prior fiscal year.
- Net loss was $1.32 million, or
$0.03 per basic and diluted share,
for the fiscal year ended March 31,
2019, compared to $17.06
million, or $0.68 per basic
and diluted share, for the same period of last year, which is a
decrease in loss.
Fiscal Year 2019 Financial Results
Revenue
Revenue for the fiscal year ended March
31, 2019 increased by $11.44
million, or 11.9%, to $107.55
million from $96.11 million
for the prior fiscal year. The increase in revenue was primarily
due to the revenue increase in retail drugstores and wholesale
business, partially offset by the decrease in online sales
business.
|
|
For the Year Ended
March 31,
|
|
|
2019
|
|
2018
|
($
millions)
|
|
Revenue
|
|
Cost of
Goods
|
|
Gross
Margin
|
|
Revenue
|
|
Cost of
Goods
|
|
Gross
Margin
|
Retail
drugstores
|
|
72.34
|
|
51.25
|
|
29.2%
|
|
61.98
|
|
45.92
|
|
25.9%
|
Online
pharmacy
|
|
8.78
|
|
7.75
|
|
11.8%
|
|
12.13
|
|
10.86
|
|
10.5%
|
Wholesale
|
|
26.43
|
|
23.45
|
|
11.3%
|
|
22.00
|
|
19.21
|
|
12.7%
|
Total
|
|
107.55
|
|
82.44
|
|
23.3%
|
|
96.11
|
|
75.99
|
|
20.9%
|
Revenue from the retail drugstores business increased by
$10.36 million, or 16.7%, to
$72.34 million for the fiscal
year ended March 31, 2019 from
$61.98 million for the prior fiscal
year. The increase was primarily due to consumer-facing benefits
such as emphasis on onsite medical care, chronic disease
management, incremental DTP (Direct-to-Patient) business caused by
continuous hospital medical reform, and the maturation of stores
opened a year ago.
Revenue from the online pharmacy business decreased by
$3.35 million, or 27.6%, to
$8.78 million for the fiscal year
ended March 31, 2019 from
$12.13 million for the prior fiscal
year. The decrease was mainly caused by a decline in sales via
e-commerce platforms which suspended OTC drug sales on their sites
directly, offset by the increase in business referred from Pharmacy
Benefit Management ("PBM") providers. The Company is adding more
non-medical health products such as nutritional supplements into
its product offerings to counteract the decline in sale of OTC
drugs.
Revenue from the wholesale business increased by $4.43 million, or 20.1%, to $26.43 million for the fiscal year ended
March 31, 2019 from $22.00 million for the prior fiscal year. The
increase was primarily a result of the Company's ability to resell
certain products, which the Company sold in large quantity at its
retail stores, to other vendors at competitive prices, as well as
sales of certain nutritional supplements to sales agents.
Gross profit and gross margin
Total cost of goods sold increased by $6.45 million, or 8.5%, to $82.44 million for the fiscal year ended
March 31, 2019 from $75.99 million for the prior fiscal year. Gross
profit increased by $4.99 million, or 24.8%, to $25.11 million for the fiscal year ended
March 31, 2019 from $20.13 million for the prior fiscal
year. Overall gross margin increased by 2.4 percentage points
to 23.3% for the fiscal year ended March 31,
2019, from 20.9% for the prior fiscal year, due to higher
retail profit margins.
Gross margin for the Company's retail drugstores
segment increased by 3.3 percentage points to 29.2% for the fiscal
year ended March 31, 2019, from 25.9%
for the prior fiscal year, primarily because of the introduction of
new suppliers, and the continuing renegotiating of prices with the
Company's suppliers.
Gross margin for the online pharmacy segment increased by 1.3
percentage points to 11.8% for the fiscal year ended March 31, 2019, from 10.5% for the prior fiscal
year, primarily due to the increase in sales via the Company's own
official website, offset by decrease in sale via third-party
platforms, which are usually subject to low profit margin.
Gross margin for the Company's wholesale
segment decreased by 1.4 percentage to 11.3% for the fiscal
year ended March 31, 2019, from 12.7%
for the prior fiscal year, primarily as a result of variation in
the products the Company carries and sells to certain
pharmaceutical vendors.
Loss from operations
Selling and marketing expenses increased by $5.53 million, or 29.5%, to $24.27 million for the fiscal year ended
March 31, 2019 from $18.74 million for the prior fiscal year,
primarily due to increases in labor and rent related to store
expansions and increases in the cost of living.
General and administrative expenses decreased by $16.10 million, or 90.4%, to $1.72 million for the fiscal year ended
March 31, 2019 from $17.82 million for the prior fiscal year. In
fiscal 2019, in order to use cash more efficiently, the Company
accelerated the collection of advances to suppliers and accounts
receivables. Specifically, we focused on the collection of aged
accounts of advances to suppliers and accounts receivable. As
the Company has collected these amounts, its allowance on doubtful
accounts decreased by approximately $7.7
million. Additionally, the Company's stock compensation
expense decreased by approximately $6.8
million primarily as a result of issuing shares to its key
employees in fiscal 2018. Excluding such expenses, general and
administrative expenses decreased by approximately $1.6 million or 9%, which reflects control of
expense such as overall management cash compensation in fiscal year
2019.
Impairment of long-lived assets was nil for the fiscal year
ended March 31, 2019, compared to
$1.58 million for the prior fiscal
year. On March 31, 2018, Jiuxin
Medicine started outsourcing its logistic service to Astro Boy
Cloud Pan (Hangzhou) Storage and
Logistic Co. Ltd, Jiuxin Medicine's warehouse lease has been
terminated. As a result, approximately $1.58
million in unamortized warehouse improvements were
recognized as expenses in the year ended March 31, 2018. Such impairment was made after
the Company estimated that the implied fair value of long-lived
assets was lower than their carrying value.
Loss from operations was $0.88
million for the fiscal year ended March 31, 2019, compared to $18.02 million for the prior fiscal year.
Operating margin was negative 0.8% for the fiscal year ended
March 31, 2019, compared to negative
18.8% for the prior fiscal year.
Net loss
Net loss was $1.32 million, or
$0.03 per basic and diluted share for
the fiscal year ended March 31, 2019,
compared to net loss of $17.06
million, or $0.68 per basic
and diluted share for the prior fiscal year.
Financial Condition
As of March 31, 2019, the Company
had cash of $24.75 million,
compared to $31.45 million as of
March 31, 2018. Net cash used in
operating activities was $5.60
million for the fiscal year ended March 31, 2019, compared to $2.07 million for the prior fiscal year. Net cash
used in investing activities was $7.33
million for the fiscal year ended March 31, 2019, compared to $2.98 million for the prior fiscal year. Net cash
provided by financing activities was $8.08
million for the fiscal year ended March 31, 2018, compared to net cash used in
financing activities of $4.89 million
for the prior fiscal year.
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 in China. Jo-Jo Drugstores currently operates
retail drugstores and an online pharmacy. It is also a wholesale
distributor of products similar to those carried in its pharmacies
and it cultivates and sells herbs used for traditional Chinese
medicine. 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
+86-571-88219579
frank.zhao@jojodrugstores.com
Steve Liu
Investor Relations Director
steve.liu@jojodrugstores.com
Investor Relations Contact:
Tina Xiao
Ascent Investor Relations LLC
+1-917-609-0333
tina.xiao@ascent-ir.com
CHINA JO-JO
DRUGSTORES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
|
March 31,
|
|
|
|
2019
|
|
|
2018
|
|
ASSETS
|
|
|
|
|
|
|
CURRENT
ASSETS
|
|
|
|
|
|
|
Cash
|
|
$
|
9,322,463
|
|
|
$
|
15,132,640
|
|
Restricted
cash
|
|
|
15,422,739
|
|
|
|
16,319,551
|
|
Financial assets
available for sale
|
|
|
180,928
|
|
|
|
175,140
|
|
Notes
receivable
|
|
|
177,278
|
|
|
|
279,082
|
|
Trade accounts
receivable
|
|
|
8,692,514
|
|
|
|
8,322,393
|
|
Inventories
|
|
|
13,955,202
|
|
|
|
13,429,568
|
|
Other receivables,
net
|
|
|
4,438,230
|
|
|
|
3,098,079
|
|
Advances to
suppliers
|
|
|
1,950,252
|
|
|
|
3,447,452
|
|
Other current
assets
|
|
|
2,063,375
|
|
|
|
2,116,237
|
|
Total current
assets
|
|
|
56,202,981
|
|
|
|
62,320,142
|
|
|
|
|
|
|
|
|
|
|
PROPERTY AND
EQUIPMENT, net
|
|
|
8,727,358
|
|
|
|
2,843,640
|
|
|
|
|
|
|
|
|
|
|
OTHER
ASSETS
|
|
|
|
|
|
|
|
|
Long-term
investment
|
|
|
24,243
|
|
|
|
40,890
|
|
Farmland
assets
|
|
|
825,259
|
|
|
|
796,286
|
|
Long term
deposits
|
|
|
2,157,275
|
|
|
|
2,501,968
|
|
Other noncurrent
assets
|
|
|
1,196,197
|
|
|
|
1,253,352
|
|
Intangible assets,
net
|
|
|
3,597,323
|
|
|
|
4,056,414
|
|
Total other
assets
|
|
|
7,800,297
|
|
|
|
8,648,910
|
|
|
|
|
|
|
|
|
|
|
Total
assets
|
|
$
|
72,730,636
|
|
|
$
|
73,812,692
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
|
|
|
|
Accounts payable,
trade
|
|
|
23,106,230
|
|
|
|
25,259,526
|
|
Notes
payable
|
|
|
25,951,673
|
|
|
|
19,180,200
|
|
Other
payables
|
|
|
3,197,221
|
|
|
|
4,272,523
|
|
Other payables -
related parties
|
|
|
795,179
|
|
|
|
850,342
|
|
Customer
deposits
|
|
|
771,942
|
|
|
|
4,040,867
|
|
Taxes
payable
|
|
|
125,859
|
|
|
|
366,040
|
|
Accrued
liabilities
|
|
|
1,264,182
|
|
|
|
841,993
|
|
Total current
liabilities
|
|
|
55,212,286
|
|
|
|
54,811,491
|
|
|
|
|
|
|
|
|
|
|
Financial
liability
|
|
|
465,248
|
|
|
|
-
|
|
Purchase option and
warrants liability
|
|
|
81,935
|
|
|
|
138,796
|
|
Total
liabilities
|
|
|
55,759,469
|
|
|
|
54,950,287
|
|
|
|
|
|
|
|
|
|
|
COMMITMENTS AND
CONTINGENCIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
|
Common stock; $0.001
par value; 250,000,000 shares authorized; 28,936,778 and 28,936,778
shares issued and outstanding as of March 31, 2019 and March
31, 2018
|
|
|
28,937
|
|
|
|
28,937
|
|
Preferred stock;
$0.001 par value; 10,000,000 shares authorized; nil issued and
outstanding as of March 31, 2019 and March 31, 2018
|
|
|
-
|
|
|
|
-
|
|
Additional paid-in
capital
|
|
|
44,905,664
|
|
|
|
43,599,089
|
|
Statutory
reserves
|
|
|
1,309,109
|
|
|
|
1,309,109
|
|
Accumulated
deficit
|
|
|
(30,587,468)
|
|
|
|
(29,661,190)
|
|
Accumulated other
comprehensive income
|
|
|
2,508,964
|
|
|
|
3,586,460
|
|
Total stockholders'
equity
|
|
|
18,165,206
|
|
|
|
18,862,405
|
|
Noncontrolling
interests
|
|
|
(1,194,039)
|
|
|
|
-
|
|
Total
equity
|
|
|
16,971,167
|
|
|
|
18,862,405
|
|
Total liabilities and
stockholders' equity
|
|
$
|
72,730,636
|
|
|
$
|
73,812,692
|
|
CHINA JO-JO
DRUGSTORES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
(LOSS)
|
|
|
|
|
|
For the years
ended
March 31,
|
|
|
|
2019
|
|
|
2018
|
|
REVENUES,
NET
|
|
$
|
107,551,012
|
|
|
$
|
96,112,706
|
|
|
|
|
|
|
|
|
|
|
COST OF GOODS
SOLD
|
|
|
82,442,969
|
|
|
|
75,987,537
|
|
|
|
|
|
|
|
|
|
|
GROSS
PROFIT
|
|
|
25,108,043
|
|
|
|
20,125,169
|
|
|
|
|
|
|
|
|
|
|
SELLING
EXPENSES
|
|
|
24,265,184
|
|
|
|
18,739,492
|
|
GENERAL AND
ADMINISTRATIVE EXPENSES
|
|
|
1,718,989
|
|
|
|
17,823,661
|
|
IMPAIRMENT OF
LONG-LIVED ASSETS
|
|
|
-
|
|
|
|
1,583,186
|
|
TOTAL OPERATING
EXPENSES
|
|
|
25,984,173
|
|
|
|
38,146,339
|
|
|
|
|
|
|
|
|
|
|
LOSS FROM
OPERATIONS
|
|
|
(876,130)
|
|
|
|
(18,021,170)
|
|
|
|
|
|
|
|
|
|
|
INTEREST
INCOME
|
|
|
112,887
|
|
|
|
478,976
|
|
OTHER INCOME,
NET
|
|
|
(93,311)
|
|
|
|
201,096
|
|
CHANGE IN FAIR VALUE
OF PURCHASE OPTION AND WARRANTS LIABILITY
|
|
|
(326,452)
|
|
|
|
357,421
|
|
|
|
|
|
|
|
|
|
|
LOSS BEFORE INCOME
TAXES
|
|
|
(1,183,006)
|
|
|
|
(16,983,677)
|
|
|
|
|
|
|
|
|
|
|
PROVISION FOR INCOME
TAXES
|
|
|
134,763
|
|
|
|
76,256
|
|
|
|
|
|
|
|
|
|
|
NET LOSS
|
|
|
(1,317,769)
|
|
|
|
(17,059,933)
|
|
|
|
|
|
|
|
|
|
|
ADD: NET (LOSS)
ATTRIBUTABLE TO NONCONTROLLING INTEREST
|
|
|
391,491
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
NET (LOSS)
ATTRIBUTABLE TO CHINA JO-JO DRUGSTORES, INC.
|
|
|
(926,278)
|
|
|
|
(17,059,933)
|
|
|
|
|
|
|
|
|
|
|
OTHER COMPREHENSIVE
LOSS
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
|
|
(1,077,496)
|
|
|
|
2,236,398
|
|
|
|
|
|
|
|
|
|
|
COMPREHENSIVE
LOSS
|
|
|
(2,395,265)
|
|
|
|
(14,823,535)
|
|
|
|
|
|
|
|
|
|
|
WEIGHTED AVERAGE
NUMBER OF SHARES:
|
|
|
|
|
|
|
|
|
Basic
|
|
|
28,936,778
|
|
|
|
25,241,748
|
|
Diluted
|
|
|
28,936,778
|
|
|
|
25,241,748
|
|
|
|
|
|
|
|
|
|
|
LOSS PER
SHARES:
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.03)
|
|
|
$
|
(0.68)
|
|
Diluted
|
|
$
|
(0.03)
|
|
|
$
|
(0.68)
|
|
CHINA JO-JO
DRUGSTORES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
|
|
|
For the years
ended
March 31,
|
|
|
|
2019
|
|
|
2018
|
|
CASH FLOWS FROM
OPERATING ACTIVITIES:
|
|
|
|
|
|
|
Net income
|
|
$
|
(1,317,769)
|
|
|
$
|
(17,059,933)
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
|
|
Bad debt direct
write-off and provision
|
|
|
(3,357,851)
|
|
|
|
4,009,636
|
|
Depreciation and
amortization
|
|
|
1,676,413
|
|
|
|
1,383,810
|
|
Impairment of
leasehold improvement
|
|
|
|
|
|
|
1,583,186
|
|
Stock based
compensation
|
|
|
197,100
|
|
|
|
7,021,563
|
|
Change in fair value
of purchase option derivative liability
|
|
|
326,452
|
|
|
|
(357,421)
|
|
Change in operating
assets:
|
|
|
|
|
|
|
|
|
Accounts receivable,
trade
|
|
|
(116,810)
|
|
|
|
(2,072,486)
|
|
Notes
receivable
|
|
|
83,910
|
|
|
|
(1,005)
|
|
Inventories and
biological assets
|
|
|
(1,390,823)
|
|
|
|
(2,411,209)
|
|
Other
receivables
|
|
|
(1,308,437)
|
|
|
|
(489,334)
|
|
Advances to
suppliers
|
|
|
3,612,453
|
|
|
|
1,121,006
|
|
Long term
deposit
|
|
|
183,841
|
|
|
|
15,103
|
|
Other current
assets
|
|
|
(83,372)
|
|
|
|
(377,391)
|
|
Other noncurrent
assets
|
|
|
(23,511)
|
|
|
|
36,091
|
|
Change in operating
liabilities:
|
|
|
|
|
|
|
|
|
Accounts payable,
trade
|
|
|
(528,353)
|
|
|
|
3,726,625
|
|
Other payables and
accrued liabilities
|
|
|
(328,473)
|
|
|
|
1,115,267
|
|
Customer
deposits
|
|
|
(3,011,194)
|
|
|
|
1,048,939
|
|
Taxes
payable
|
|
|
(216,792)
|
|
|
|
(362,513)
|
|
Net cash provided by
operating activities
|
|
|
(5,603,216)
|
|
|
|
(2,070,066)
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM
INVESTING ACTIVITIES:
|
|
|
|
|
|
|
|
|
Disposal of
financial assets available for sale
|
|
|
87,290
|
|
|
|
-
|
|
Purchase of
financial assets available for sale
|
|
|
(104,360)
|
|
|
|
(75,513)
|
|
Acquisition of
equipment and building
|
|
|
(5,450,934)
|
|
|
|
(414,398)
|
|
Increase intangible
assets
|
|
|
(29,817)
|
|
|
|
(1,140,102
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to
leasehold improvements
|
|
|
(1,828,360)
|
|
|
|
(1,347,489)
|
|
Net cash provided by
(used in) investing activities
|
|
|
(7,326,181)
|
|
|
|
(2,977,502)
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM
FINANCING ACTIVITIES:
|
|
|
|
|
|
|
|
|
Proceeds from notes
payable
|
|
|
42,030,521
|
|
|
|
27,461,423
|
|
Repayment of notes
payable
|
|
|
(34,018,811)
|
|
|
|
(22,476,740)
|
|
Increase in financial
liability
|
|
|
81,997
|
|
|
|
-
|
|
Proceeds from sale of
stock and warrants
|
|
|
7,529
|
|
|
|
-
|
|
Repayment of other
payables-related parties
|
|
|
(22,655)
|
|
|
|
(91,395)
|
|
Net cash provided
by (used in) financing activities
|
|
|
8,078,581
|
|
|
|
4,893,288
|
|
|
|
|
|
|
|
|
|
|
EFFECT OF EXCHANGE
RATE ON CASH
|
|
|
(1,856,174)
|
|
|
|
3,810,661
|
|
|
|
|
|
|
|
|
|
|
(DECREASE) INCREASE
IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
|
|
|
(6,706,989)
|
|
|
|
3,656,381
|
|
|
|
|
|
|
|
|
|
|
CASH AND CASH
EQUIVALENTS AND RESTRICTED CASH, beginning of year
|
|
|
31,452,191
|
|
|
|
27,795,810
|
|
|
|
|
|
|
|
|
|
|
CASH AND CASH
EQUIVALENTS AND RESTRICTED CASH, end of year
|
|
$
|
24,745,202
|
|
|
$
|
31,452,191
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL
DISCLOSURE OF CASH FLOW INFORMATION:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid for income
taxes
|
|
$
|
56,422
|
|
|
$
|
27,825
|
|
View original
content:http://www.prnewswire.com/news-releases/china-jo-jo-drugstores-reports-fiscal-year-2019-financial-results-300878315.html
SOURCE China Jo-Jo Drugstores,
Inc.