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Tag: China Jo-Jo

  • China Jo-Jo expansion plan in Hangzhou

    China Jo-Jo expansion plan in Hangzhou

    China Jo-Jo Drugstores has added seven more retail outlets in Hangzhou.

    Chairman/CEO Liu Lei says the stores offer convenient access to best-in-class pharmacy products and services.

    All stores are full-service pharmacies staffed with licensed pharmacists. They offer prescription and OTC medicines, traditional Chinese medicines, dietary supplements, medical devices, health and beauty products and general merchandise.

    A rewards program offers members exclusive discounts and enhanced customer experience.

    The seven new stores are in the Binjiang (two), Jianggan, Lin’an (two),  Shangcheng and Yuhang districts. The company opened two stores in Lin’an just three months ago.

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  • China Jo-Jo Drugstores Reports Fiscal 2017 First Quarter Results

    China Jo-Jo Drugstores Reports Fiscal 2017 First Quarter Results

    China Jo-Jo Drugstores, Inc. (CJJD) yesterday announced financial results for its first fiscal quarter ended June 30, 2016.

    FY 2017 First Quarter Highlights:

    • Revenue was $20.9 million compared to $21.3 million a year ago
    • Gross profit increased 2.4% year-over-year to $4.5 million
    • Gross margin increased 90bps year-over-year to 21.4%, retail pharmacy gross margin increased 280 bps to 28.5% from a year ago
    • GAAP net income was $131,153 or $0.01 per diluted share compared to net income of $110,611 or $0.01 per diluted share a year ago
    • Adjusted net income was $754,000 or $0.04 per diluted share compared to adjusted net income of $277,481 or $0.02 per diluted share a year ago

    China Jo-Jo’s Chairman and CEO, Mr. Liu Lei commented, “Our results in the first quarter were temporarily impacted by lower pharmacy traffic due to preparation for the G20 summit in Hangzhou, and the unexpected disruption in the Yikatong referral business. We are proactively seeking referral arrangement with alternative providers of Pharmacy Benefit Management. We remain focused on increasing our gross margin and expanding the online and offline integration of our wellness offerings.”

    Net revenues for the quarter were $20.9 million compared to $21.3 million in the same quarter a year ago, a decrease of $375, 377 or 1.8%. Retail drugstores sales were $12.7 million and increased 4.4% compared to the prior year period. The Company continues to launch in-pharmacy virtual doctor clinics, provide access to mobile payment and implement other operational strategies to promote same store growth. The pharmacy store count increased to 61 as of June 30, 2016, compared to 59 stores a year ago.

    Online pharmacy sales for the quarter were $5.1 million compared to $6.0 million in the same quarter a year ago, a decrease of $894,689 or 15.0%. The decrease was mainly due to the decline in referral transactions from Yikatong on the Company’s own online pharmacy website. Excluding the RMB depreciation, sales via e-commerce platforms increased by 6.0% year over year. The Company is proactively seeking referral arrangements with alternative providers of Pharmacy Benefit Management.

    Net income was $131,153 or $0.01 per diluted share compared to last year’s first quarter net income of $110,611 or $0.01 per diluted share.

    Adjusted net income was $754,000 or $0.04 per diluted share compared to last year’s first quarter adjusted net income of $277,481 million or $0.02 per diluted share.

  • China Jo-Jo Drugstore expansion drives revenue

    China Jo-Jo Drugstore expansion drives revenue

    China Jo-Jo Drugstore expansion drove revenue up 15.8 per cent in the year to March 31.

    Online sales soared 77.8 per cent year-on-year to US$26.5 million and now accounts for 29.7 per cent of the group’s sales.

    New stores helped offline retail sales rise 4.9 per cent with total group revenue reaching $89 million. Same-store sales rose 6.4 per cent.

    But net profit was down from $856,000 to $447,000, largely due to continuing expansion costs.

    US-listed China Jo-Jo Drugstores now has 58 retail pharmacies in China’s Zhejiang Province and the business also distributes drug and other healthcare products to other drugstores and vendors.

    Chairman and CEO Liu Lei described the results as “solid”.

    “We consolidated the operations of our retail drugstores and implemented key initiatives such as increasing product adaptability, providing access to mobile payments, and launching in-pharmacy virtual doctor clinics to drive sales and provide value-added services to our customers. We maintained profitability while migrating our product mix to higher margin pharmaceutical and health and wellness products.

    “At the same time, our expansion in the fast-growing online pharmacy markets in China continues to outpace the industry. Our online pharmacy sales continued to grow rapidly through both third-party eCommerce platforms and our own online pharmacy website.”

    He said moving forward, the company will focus on opening or acquiring more stores, creating deeper relationships with its customers, holding regional dominant market share in retail pharmacy, while taking a data-driven approach in identifying popular products and enhancing its abilities to promote online sales.

    “We believe we have the right strategy for succeeding as a leading online and physical retail chain pharmacy stores in China.”

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  • China Jo-jo Drugstores Inc Institutional Investor Sentiment Worsened in Q1 2016

    China Jo-jo Drugstores Inc Institutional Investor Sentiment Worsened in Q1 2016

    China Jo-jo Drugstores Inc institutional sentiment decreased to 0.75 in 2016 Q1. Its down -0.25, from 1 in 2015Q4. The ratio turned negative, as 3 hedge funds increased or opened new stock positions, while 4 reduced and sold holdings in China Jo-jo Drugstores Inc. The hedge funds in our partner’s database now possess: 148,237 shares, up from 123,312 shares in 2015Q4. Also, the number of hedge funds holding China Jo-jo Drugstores Inc in their top 10 stock positions was flat from 0 to 0 for the same number . Sold All: 2 Reduced: 2 Increased: 1 New Position: 2.

    China Jo-Jo Drugstores, Inc. is a retailer and distributor of pharmaceutical and other healthcare products found in a retail pharmacy in the People’s Republic of China. The company has a market cap of $28.55 million. The Company’s operating divisions include retail drugstores, online pharmacy, wholesale business selling products similar to those the Company carries in its pharmacies, and farming and selling herbs used for traditional Chinese medicine . It has a 32.5 P/E ratio. The Firm has 59 store locations under the store brand Jiuzhou Grand Pharmacy in Hangzhou.

    About 6,781 shares traded hands. China Jo-Jo Drugstores Inc has declined 14.29% since November 10, 2015 and is downtrending. It has underperformed by 14.11% the S&P500.

    According to Zacks Investment Research, “China Jo-Jo Drugstores, Inc., through its contractually controlled affiliates, operates a retail pharmacy chain in China offering both western and traditional Chinese medicine. Its contractually controlled affiliates include Hangzhou Jiuzhou Grand Pharmacy Chain Co., Ltd., Hangzhou Jiuzhou Clinic of Integrated Traditional and Western Medicine General Partnership, and Hangzhou Jiuzhou Medical & Public Health Service Co., Ltd. The chain has stores throughout Hangzhou, the provincial capital of Zhejiang Province.”

    California Public Employees Retirement System holds 0% of its portfolio in China Jo-Jo Drugstores Inc for 29,300 shares. Citadel Advisors Llc owns 25,965 shares or 0% of their US portfolio. Moreover, Citigroup Inc has 0% invested in the company for 434 shares. The New York-based Morgan Stanley has invested 0% in the stock. Renaissance Technologies Llc, a New York-based fund reported 79,800 shares.

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  • Alipay, WeChat drive China Jo-Jo sales

    Alipay, WeChat drive China Jo-Jo sales

    China Jo-Jo Drugstores, the US listed, China-based multichannel pharmaceutical and healthcare retailer, says customers are embracing Tencent’s WeChat and Alibaba’s Alipay to buy its goods from mobile phones.

    In the third quarter, Alipay mobile transactions with China Jo-Jo grew 84 per cent quarter on quarter, while sequential traditional payment transactions such as City Health Insurance payment transactions grew 27 per cent.

    According to research firm Analysys, Alipay and WeChat currently dominate mobile payment in China with 45 per cent and 19 per cent of the market respectively.

    “Integrating these mobile payment platforms is an important growth initiative for China Jo-Jo as consumers in China, especially the young and growing middle-class, have been keen to actively adopt mobile payment as the method of choice for their integrated mobile and physical retail store shopping experience,” the pharmacist said in a statement.

    “Providing customers this convenient and familiar mobile payment platform is helping to drive overall transaction growth in both our retail and online pharmacies.”

    Since launching Alipay’s mobile payment service in November 2014, China Jo-Jo has been initiating novel marketing campaigns including in-store sales and bonus promotions in order to attract and customers while promoting premium branded products. Payment transactions and marketing initiatives under WeChat Payment which launched in July 2015 have also been successful in growing China Jo-Jo’s customer base and overall transactions.

    Chairman and CEO Lei Liu says mobile payment platforms have had immense success in China providing consumers with a fast, secure and novel means of paying for both online and offline pharmacy goods and services that is becoming the standard method for paying for goods and services in China.

    “Mobile payment platforms now account for more and more of China Jo-Jo’s online payment transactions and is playing an integral role in the push to drive adoption of China Jo-Jo’s business model.”

    As of December 31, China Jo-Jo had 59 retail pharmacies in Zhejiang Province, China.

  • China Jo-Jo finds gold online

    China Jo-Jo finds gold online

    While its physical stores and wholesale revenues slipped, pharmacy retailer China Jo-Jo Drugstores recorded an increase of about 96.7 per cent in its online revenues during the third quarter ended December 31.

    Through its own retail stores (59 in Zhejiang Province), wholesale distribution and online pharmacy, the New York-listed company is a leading provider of pharmaceutical and healthcare products in China.

    Overall, its revenues of about $24.7 million for the period were up 15.9 per cent. Its retail drugstores brought in $12.9 million, down 2.7 per cent, while its wholesale businesses netted about $3.1 million, a decrease of of 13.8 per cent. However, its online pharmacy revenue rose 96.7 per cent to total about $8.6 million.

    This gave the company a gross profit of about $4.8 million for the quarter, up 52.3 per cent on the previous year. The online profit soared 194.1 per cent to about $1.8 million, while its stores had a 20.3 per cent increase to about $2.8 million.

    Over the nine months of the financial year, revenue totalled $68.6 million, up 22 per cent, with gross profit up 56.1 per cent to about $13.2 million.

    Sales and marketing expenses grew by $1.1 million, or 50.5 per cent, mainly because of higher labour costs and service fees for its eCommerce platforms.

    “We are seeing improvements in gross margin from increased volume in our online business as our revenue mix continues to shift to our fast-growing online business,” says chairman/CEO Lei Liu, who predicts a strong quarter to end the fiscal year.

    “Investments and efforts in building critical mass to service China’s consumer needs in the pharmacy space is taking shape, creating new opportunities to diversify our revenue base.”

    Closer collaborations with large local pharmaceutical vendors are also providing cost advantages. Co-operation with business-to-consumer online vendors have expanded, with the company’s products listed on such platforms as Taobao, JD and www.yhd.com and customers being directed back to China Jo-Jo’s website.

    Meanwhile, the company continues to benefit from working with large insurance companies such as The People’s Insurance Company of China. Commercial health insurance in China continues to expand to supplement the nation’s social health insurance.

    Lei Liu says there is a “relentless call” for healthcare reform in China, including an end to hospitals dominating prescription sales. Meanwhile, China Jo-Jo has also seen its loyalty program expand to embrace more than 2 million customers.

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  • China Jo-Jo online sales soar 438 per cent

    China Jo-Jo online sales soar 438 per cent

    China Jo-Jo online sales soared 438 per cent in the last half year as more shoppers chose to buy direct rather than on the company’s Alibaba shop front.

    Sales on Alibaba rose 130 per cent year on year.

    China Jo-Jo Drugstores, listed on the US Nasdaq exchange, says sales on its site www.dada360.com, set a record consolidated gross profit margin of 25 per cent.

    China Jo-Jo’s online sales are principally driven by four categories of products including: medical devices, OTC drugs, toiletries and nutritional supplements through the presence of six ePharmacy platforms online, including the company’s official branded website and marketplaces in Alibaba andJD.com.

    The company’s online pharmacy sales for the last four years has been led by Jo-Jo’s flagship store through Alibaba’s marketplace, however for the month of September, 2015, sales from China Jo-Jo’s own B2C website surpassed sales from the flagship store, “which is indicative of the great demand for online pharmacy services in China,” the company said in a statement.

    Sales from China Jo-Jo’s eCommerce platforms represent 30 per cent of the overall sales from its physical retail stores, which increased by 10 per cent year on year.

    Primary reasons for the rapid growth in China Jo-Jo’s ePharmacy business are the unmet demand for competitively priced shopping alternatives for which the Company carries roughly 8000 products across its retail and online businesses.

    “For the half year period, a major contributing factor to adoption of online sales is the web traffic driven to our B2C sites from “private insurance card” member holders. Private insurance cards are a fast growing segment of the company’s business whereby member incentives for card holders include discounts, promotions and prescription reimbursements from large private insurance carriers in China. The number of qualified customers using commercially available private insurance cards in this period was up 20 per cent to roughly 220,000 participants, while the variety of products available online increased 50 per cent year over year,” the company said.

    Qi Li, president of China Jo-Jo commented:, “2015 has ushered in a new era in China and the launch of nascent but rapidly growing online pharmacy industry. We expect continued success as the industry matures, creating an evolved ecosystem to service the needs of our customers for many years to come.”

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  • China Jo-Jo Drugstores Announces First Quarter Financial Results for Fiscal Year 2016

    China Jo-Jo Drugstores Announces First Quarter Financial Results for Fiscal Year 2016

    China Jo-Jo Drugstores, Inc., a leading China-based retail and wholesale distributor of pharmaceutical and health care products through its own online and retail pharmacies, today announced financial results for the first quarter ended June 30, 2015.

    FY 2016 First Quarter Highlights:

    Revenue increase during the first quarter ended June 30, 2015 was mainly due to the expansion of the Company’s retail drugstores and online pharmacy business. Retail drugstores sales, which accounted for approximately 57.0% of total revenue, increased by $1,575,129, of which an 8.2% increase in same-store sales contributed $827,593 while new stores sales contributed approximately $617,453.

    Online pharmacy sales reached $5,965,768, an increase of 131.9% over the same period last year, as we have been actively exploring new ways to grow our online sales. We have expanded cooperation with business-to-consumer online vendors, including Alibaba Group’s Taobao affiliate, JD.com and Amazon, by posting our products on their online platforms. In addition to launching an online payment service (“Alipay Service”) based on a service agreement with Alipay (China) Internet Technology Ltd. (“Alipay”), we launched stores on Tencent’s WeChat platform, China’s dominant mobile messaging app and social network with over 500 million active users.

    Starting from January 2015, we have strengthened our cooperation with certain large insurance companies in China such as the People’s Insurance Company (Group) Of China Limited, to sell online products to their customers who have purchased health insurance through them. In May 2015, we have set up a joint venture, with a leading Pharmacy Benefit Management (“PBM”) provider in China, which owns and operates Yikatong (the “E-Pharmacy-Card”), a popular pharmacy and health insurance benefit program with over 180,000 current users. The joint venture agreement requires the PBM provider to direct the majority of its online E-Pharmacy-Card transactions to our official online pharmacy site. In June 2015, we have organized an operation team to direct the sales from commercial insurance to our own website. We expect that this cooperation will boost our online sales and profit margin in the future.

    Mr. Lei Liu, Chairman and CEO of the Company stated, “We are excited to see a steady growth on our online and retail sales from last year. Revenue of our online pharmacy, www.dada360.com, is about five times the revenue of the same period last year thanks to our strategic partnership with China’s leading Pharmacy Benefit Management (PBM) provider and insurance companies. We are dedicated to further expand our efforts on our online pharmacy, which proves to be a popular business area supported by National Internet Plus Strategy in China. We will continue to devote resources to grow our online pharmacy business with the goal of becoming a national leader in pharmaceutical e-commerce business. Our retail pharmacies have also maintained robust growth both in sales and profitability. The management will strive to capitalize on the growth of health insurance and online sales in China.”

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  • China Jo-Jo surges forward on on-line progress

    China Jo-Jo surges forward on on-line progress

    China Jo-Jo Drugstores, the China-based retail and wholesale distributor of pharmaceutical and well being care merchandise via its personal on-line and retail pharmacies, has reported a fourth quarter income increase of 30.1 per cent and a $three.34 million revenue – overturning a $1 million loss for a similar interval a yr earlier.

    For the complete yr, the corporate elevated income by 16.2 per cent: its on-line pharmacy gross sales soared 96.eight per cent and retail gross sales by 21.7 per cent. Gross revenue elevated $6.7 million, or by 117.2 per cent and gross margin doubled. China Jo-Jo says its on-line success was as a result of a collection of on-line advertising efforts, increasing its presence on eCommerce platforms, like Taobao, JD.com and Amazon.com. The corporate additionally signed a service settlement with Alipay (China) to include Alipay’s on-line cost service into its e-stores.

    Lei Liu, chairman and CEO, stated: “We’re thrilled to shut out fiscal yr 2015 with a stellar fourth quarter efficiency.  Our official on-line pharmacy, skilled greater than 3 times income progress yr over yr because of our strategic partnership with China’s main Pharmacy Profit Administration (PBM) supplier and insurance coverage corporations. After virtually two years of restructure of which our administration has shifted focuses and assets to larger progress and excessive margin market phase, we consider FY 2015 was a serious turning level for China Jo-Jo.

    “We not solely achieved chance after the final two years’ main losses, but in addition regained the belief of our loyal clients and shareholders.

    “As we speed up our progress into 2016 and past, we consider our eCommerce gross sales will at some point surpass the gross sales from our conventional offline pharmacy enterprise. By leveraging our on-line presence, China Jo-Jo goals to turn out to be a nationally recognised pharmacy chain and a number one participant within the on-line drugstore marketspace in China,” Lei Liu stated.

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  • China Jo-Jo WeChat retailer opens

    China Jo-Jo WeChat retailer opens

    China Jo-Jo Drugstores has opened a retailer on Tencent’s WeChat social media platform. The China Jo-Jo WeChat foray might be carried out by way of its subsidiary Hangzhou Jiuzhou Grand Pharmacy Chain. It’s the first Hangzhou based mostly pharmacy to launch shops on WeChat, which has greater than 500 million lively customers.

    China Jo-Jo says the transfer, following partnerships with Alipay and Ali-Well being, is a part of a broader technique to construct its personal On-line-to-Offline (O2O) ecosystem for its pharmaceutical and healthcare merchandise.

    In late 2014, Tencent unveiled its on-line service provider shops for small to medium measurement companies based mostly on its common WeChat platform, and it has shortly developed into an all-in-one cellular advertising service. WMS permits retailers the alternatives to interact with their clients in real-time and collect knowledge based mostly on shopper profiles and spending behaviors. Retailers may also use WMS to replace product info and handle stock and merchandising course of. WMS permits clients to pay by WeChat Pay, a handy cost technique just like Alipay. “As a well known cost technique that clients already belief, WeChat Pay can drastically improve on-line transaction movement for WeChat Retailers. By opening our pharmacy on WMS platform, China Jo-Jo hopes to draw a a lot bigger and constant shopper base by implementing higher knowledge mining, goal advertising and gross sales promotions corresponding to group-buy, present certificates, flash sale, coupons and loyalty program,” the corporate stated in a statemet.

    By integrating our in-store IT system with WMS’s highly effective cost, O2O and repair spine platform, we intend to rework our brick and mortar shops into “Clever Pharmacies”.

    China Jo-Jo President, Li Qi, added: “In a standard drugstore, there’s solely one-way interplay between the shop and its clients. Now in our O2O drugstores, we and our clients can simply talk with one another via WeChat platform anytime and anyplace. Shoppers can now take pleasure in customised service and acquired extra focused advantages reminiscent of coupons and member reductions. For us, we will now construct, monitor and analyse quite a few knowledge on buyer spending sample, which can be used to enhance the on-line buying expertise as an entire. O2O enterprise options will stay an integral a part of China Jo-Jo’s technique sooner or later.”

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  • China Jo-Jo on-line gross sales soar

    China Jo-Jo on-line gross sales soar

    China Jo-Jo Drugstores says its on-line gross sales are skyrocketing and now account for almost one in each 5 RMB of its turnover.

    The Nasdaq listed pharmacy says on-line gross sales soared 90 per cent yr on yr, with its personal model pharmacy on-line pharmacy gross sales doubling. Offline gross sales in conventional pharmacies grew 20 per cent within the yr to March 31.

    China Jo-Jo says its previous US$14 million of merchandise on-line, representing 18 per cent of its complete gross sales. Within the 2014 yr on-line accounted for about 11 per cent of gross sales.

    The longer term appears even brighter for the corporate given the current rest of laws in China referring to the sale of prescribed drugs over the web.

    “Since 2013, China Jo-Jo’s administration workforce has been directing its focus in the direction of constructing and increasing its on-line pharmacy enterprise in China, with final objectives to help long run natural progress, enhance revenue margin and improve shareholders’ return,” the corporate stated in a press release.

    “The preliminary end result from our on-line pharmacy division, which exceeds the corporate’s inner projection of $13 million, mirrored our balanced technique of collaboration with third-party B2C e-commerce companions, resembling Taobao, JD.com and Amazon.com, whereas constructing our personal on-line pharmacy model. Through the fiscal yr 2015, our enterprise was additionally positively impacted by new initiatives, corresponding to shut cooperation with sure giant business insurance coverage corporations in China, partnership with Shanghai Jianbao Know-how, a pacesetter in China’s Pharmacy Profit Administration (PBM) sector, in addition to the launching of Alipay service, China’s dominant cellular cost system, to our clients.”

    China Jo-Jo expects the expansion in its on-line pharmacy division will proceed within the present fiscal yr and past.

    China Jo-Jo Drugstores has 59 retail pharmacies in Hangzhou and a wholesale arm which provides its personal shops and rival retailers.

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