HANGZHOU, China, July 27,
2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ:
JZXN; the "Company"), a leading new energy vehicle (NEV) dealership
group under the brand name "Jiuzi" in China, today announced that its operating
entity, Hangzhou Zhitongche Technology Limited ("Zhitongche"), has
added five new franchisees in Guangxi Zhuang Autonomous Region
("Guangxi"), China since the execution of the regional
exclusive agency agreement (the "Agreement" with Shanghai Aiways
Yiwei Automobiles Sales Co., Ltd. ("Aiways Yiwei"), the subsidiary
of Aiways Automobiles Company Ltd. ("Aiways Auto").
Pursuant to the Agreement, in the first two months of the
one-year term, or starting on July
1st, 2022, Zhitongche will establish 12 Aiways
experience centers in major cities in Guangxi. Since the signing of the agreement,
Zhitongche has made fruitful progress by recruiting five
franchisees in Nanning, Liuzhou, Beihai, Guilin, and Yulin, among
which three franchisees have paid the franchise fees in full. In
the meantime, Zhitongche is also negotiating with 12 potential
franchisees who have expressed interest in joining.
"I'm extremely proud of the great achievement that our brilliant
Guangxi team has made in such a
short period. Our success in gaining new franchisees is due to the
synergy effect created by the brand awareness of Jiuzi and Aiways",
said Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., "Our Jiuzi
brand is well recognized in Guangxi through our existing 13 franchise
stores. By leveraging the additional prestige of Aiways brand, we
believe the collaboration with Aiways would accelerate our business
expansion in Guangxi. Due to our
fast expansion as a result of the collaboration Aiways, we expect
to add 13 new franchise stores in Guangxi by the end of this year in addition to
the 12 existing ones, adding to a total of 25 new franchise stores
in Guangxi in 2022."
About Jiuzi Holdings, Inc.
Jiuzi Holdings, Inc., headquartered in Hangzhou, China, and established in 2017,
franchises and operates retail stores under the brand name "Jiuzi"
to sell New Energy Vehicles ("NEVs") in third and fourth-tier
cities in China. The Company
mainly sells battery-operated electric vehicles and sources NEVs
through more than twenty NEV manufacturers. It has 51 operating
franchise stores and one company-owned store. For more information,
visit the Company's website at http://www.zjjzxny.cn/.
Forward-Looking Statements
All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties. They
are based on current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy,
and financial needs, including the expectation that the Offering
will be completed. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent events,
circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct. The Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and its
other filings with the SEC.
For more information, please contact:
Stephen Tong
Email: jiuzi@mana-ir.com
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SOURCE Jiuzi Holdings, Inc.