{"id":5246,"date":"2022-01-21T14:00:00","date_gmt":"2022-01-21T14:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3637059_CN37059_0"},"modified":"2022-01-21T14:00:00","modified_gmt":"2022-01-21T14:00:00","slug":"china-jo-jo-drugstores-reports-first-half-of-fiscal-year-2022-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=5246","title":{"rendered":"China Jo-Jo Drugstores Reports First Half of Fiscal Year 2022 Financial Results"},"content":{"rendered":"
\n

HANGZHOU, China<\/span>, Jan. 21, 2022<\/span> \/PRNewswire\/ — China Jo-Jo<\/span> Drugstores, Inc. (NASDAQ: CJJD) (“Jo-Jo Drugstores<\/b>” or the “Company<\/b>“), a leading online and offline retailer, wholesale distributor of pharmaceutical and other healthcare products, and healthcare provider in China<\/span>, today announced its financial results for the first half of fiscal year 2022 ended September 30, 2021<\/span>.<\/p>\n

Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, “We are pleased to have delivered a solid performance during the first half of fiscal year 2022 as we navigate through a challenging operating environment affected by multiple COVID-19 surges. We achieved record revenue of $78.48 million<\/span>, up 26.8% from the same period of last year, and narrowed down 86% of net loss compared to the same period of last year. Revenue from online pharmacy and wholesale segments increased by 33.5% and 63.6%, respectively, which reflects the efforts of our team as we continue to expand our business. Our strong financial performance once again demonstrates the continuing<\/span> momentum across the Company as the market recognizing the quality of our products and the brand awareness of Jo-Jo Drugstores. Our unrivaled quality management, reliable supply chains, extensive distribution network and industry-leading talent team are the reasons of the results.”<\/p>\n

Mr. Liu continued, “ESG, standing for ‘<\/span>Environment, Society and Governance‘<\/span>,<\/span> is embedded in our core value and we are committed to improving the community we serve and protecting<\/span> the lives of our employees and customers. We received 2021 China ESG Golden Awards, a Sustainability Award from Sina Finance, which recognizes our meaningful progress in delivering social and environmental benefits. The project “Healthy <\/span>China 2030″ will enhance the reformation and innovation in the healthcare industry. To seize this opportunity, we will continue focusing on providing excellent in-store services, accelerating digital transformation and upgrading our business model. We believe that our capability, operational performance and diversified distribution channels will enable us to generate additional revenue and create greater value for our shareholders in the long term.”   <\/p>\n

First Six Months of Fiscal Year 2022 Financial Highlights<\/b><\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n\n

For the Six Months Ended September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

($ millions, except per share data)<\/i><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2021<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

2020<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

% Change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Revenue<\/span><\/p>\n<\/td>\n

<\/td>\n\n

78.48<\/span><\/p>\n<\/td>\n

<\/td>\n\n

61.90<\/span><\/p>\n<\/td>\n

<\/td>\n\n

26.8%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

      Retail drugstores<\/span><\/p>\n<\/td>\n

<\/td>\n\n

40.42<\/span><\/p>\n<\/td>\n

<\/td>\n\n

36.74<\/span><\/p>\n<\/td>\n

<\/td>\n\n

10.0%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

      Online pharmacy<\/span><\/p>\n<\/td>\n

<\/td>\n\n

13.70<\/span><\/p>\n<\/td>\n

<\/td>\n\n

10.26<\/span><\/p>\n<\/td>\n

<\/td>\n\n

33.5%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

      Wholesale<\/span><\/p>\n<\/td>\n

<\/td>\n\n

24.36<\/span><\/p>\n<\/td>\n

<\/td>\n\n

14.90<\/span><\/p>\n<\/td>\n

<\/td>\n\n

63.6%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross profit<\/span><\/p>\n<\/td>\n

<\/td>\n\n

15.40<\/span><\/p>\n<\/td>\n

<\/td>\n\n

14.99<\/span><\/p>\n<\/td>\n

<\/td>\n\n

2.7%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Gross margin<\/span><\/p>\n<\/td>\n

<\/td>\n\n

19.6%<\/span><\/p>\n<\/td>\n

<\/td>\n\n

24.2%<\/span><\/p>\n<\/td>\n

<\/td>\n\n

-4.6 pp*<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss from operations<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.49)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1.94)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

74.6%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net loss<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.27)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(1.92)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

86.0%<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Loss per share<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.01)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

(0.05)<\/span><\/p>\n<\/td>\n

<\/td>\n\n

80.0%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

*Notes: pp represents percentage points<\/p>\n