Business
Jiuzi Holdings Inc. Holds Business Conference and Acquires Prospective Franchisees
HANGZHOU, China, July 26, 2022 /PRNewswire/ -- Jiuzi Holdings, Inc. (NASDAQ: JZXN; the "Company"), a leading new energy vehicle (NEV) dealership group under
About this update from Jiuzi Holdings, Inc.
[{"type":"text","content":"HANGZHOU, China, July 26, 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 it successfully held a business conference (the \"Conference\") at the Company's headquarters in Hangzhou to further its continuous effort in expanding its geographical presence via cooperation with other leading EV brands in China.\nThe Conference was held with the presence of Kunshan Baoneng Auto Sales Co., Ltd. (\"Kunshan Baoneng\"), the subsidiary of Baoneng Auto Group Ltd. (\"Baoneng Auto\"), with which the Company executed a Letter of Intent (the \"LOI\") executed in June to allow the Company to distribute Baoneng Auto's \"Youbaoli\" brand electric cars in Zhejiang Province. This conference served as a follow-up co-marketing campaign by both companies in an effort to attract potential franchisees to join JZXN, and gave Kunshan Baoneng an opportunity to showcase its new EV model as well as its brand. At the end of the Conference, eight prospective franchisees entered into the Letters of Intent in Franchising (the \"Franchising LOI\") with the Company, among which six prospective franchisees paid the deposit to the Company immediately after the execution of the Franchising LOI.\n\"We are excited to see that our new marketing strategy has been proven effective,\" said Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc. \"We are seeking collaboration with premium NEV start-ups, such as Baoneng and Aiways, to explore our retail distribution channel. On the one hand, our competitive advantages in nationwide distribution, state-of-the-art terminal sales management and supply chain management can help NEV start-ups quickly build up the retail terminals cost-effectively through our established franchise model. On the other hand, with the help of the brand prestige of our automaker partners, we can easily attract more and more decent prospective franchisees. I believe this win-win model could foster business synergies for both companies.\" \nAbout Jiuzi Holdings, Inc.\nJiuzi 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...