Jiuzi Holdings, Inc. Sets Up Southern China Operation Center and Signs Strategic Cooperation with a Local New Energy Vehicle Distributor

Published: Oct. 14, 2021 at 4:00 AM AKDT

HANGZHOU, China, Oct. 14, 2021 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the "Company"), a new energy vehicles franchisor and retailer under the brand name "Jiuzi" in China, today announced that Jiuzi Southern China Operation Center ("Jiuzi SC"), also known as Nanning Jiuzi New Energy Operation Management Center ("Nanning Jiuzi"), has officially commenced its operation on September 29, 2021, in an effort to expand the Company's market share in the Southern China.

Setting up Jiuzi SC carries great significance to Jiuzi's strategic layout and is indicative of the Company's determination to further expand its domestic market share. Leveraging JZXN's current market coverage, distribution network, and brand image, Jiuzi SC is expected to not only effectively expand the Company's geographical horizon, but also to make more operational and financial contributions to JZXN. Jiuzi SC will start in Nanning, the capital city of Guangxi Province, and gradually increase coverage within the region.

As part of Jiuzi SC's expansion effort, JZXN also entered into a strategic cooperation agreement with Nanning Huangyang Automobile Sales Limited ("Nanning Huangyang"), which is a leading new energy vehicle distributor in Guangxi Province and authorized by the Company so sell JZXN's new energy vehicles within Southern China. Both parties will utilize their respective market resources and advantages to jointly boost the sales volume of the new energy vehicles and improve the brand recognition in the Southern China market.

Mr. Shuibo Zhang, CEO, Director and Chairman of Jiuzi Holdings, Inc., commented: "We are very excited about the establishment of Jiuzi Southern China, which is one of the most important strategic moves in Jiuzi's business blueprint. Since our debut on Nasdaq market in May 2021, we have been steadily operating our legacy business and effectively growing our geographic and market footprint. We have seen greater acceptance to the new energy vehicles in China market in recent years. JZXN will continually expand our strategic layout within China to meet the growing demands in this area and obtain long term return for our investors."

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-fourth tier cities in China. The Company majorly sells battery-operated electric vehicles, and sources NEVs through more than twenty NEV manufacturers. It has 31 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 and 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 successfully 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 occurring events or 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, and 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 in its other filings with the SEC.

For more information, please contact:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)

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SOURCE Jiuzi Holdings, Inc.

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