Profile: China Jo Jo Drugstores Inc (CJJD.O)
2 Dec 2016
China Jo-Jo Drugstores, Inc., incorporated on December 19, 2006, 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's segments include retail drugstores, online pharmacy, drug wholesale and herb farming. The retail drugstores segment sells prescription and over-the-counter (OTC) medicines, traditional Chinese medicine (TCM), dietary supplement, medical devices and sundry items to retail customers. Its online pharmacy segment sells OTC drugs, dietary supplement, medical devices and sundry items to customers through Alibaba's Tmall and its own platform all over China. The drug wholesale segment supplies its own retail drugstores with prescription and OTC medicines, TCM, dietary supplement, medical devices and sundry items, and also sells them to other drug vendors and hospitals. Its herb farming segment cultivates selected herbs for sales to other drug vendors. It is also involved in online sales and clinic services.
The Company has approximately 60 store locations under the store brand Jiuzhou Grand Pharmacy in Hangzhou. The Company's stores provide customers with a range of pharmaceutical products, including prescription and OTC drugs, nutritional supplements, TCM, personal and family care products, and medical devices, as well as convenience products, including consumable, seasonal and promotional items. The Company's herb farming business is conducted through its subsidiary, Hangzhou Qianhong Agriculture Development Co., Ltd. (Qianhong Agriculture).
The Company offers primarily third-party products at its pharmacies. Its products include approximately 1,330 prescription drugs (over 260 of which require a physician's prescription and the rest requires customer personal information registration only); approximately 1,350 OTC drugs; approximately 320 nutritional supplements, including a range of healthcare supplements, vitamin, mineral and dietary products; TCM, including drinkable herbal remedies and pre-packaged herbal mixtures for making soup; Sundry products, which include personal care products, such as skin care, hair care and beauty products, convenience products, such as soft drinks, packaged snacks, and other consumable, cleaning agents, stationeries, and seasonal and promotional items, and Medical devices, such as family planning and birth control products, early pregnancy test products, portable electronic diagnostic apparatus, rehabilitation equipment, and surgical tools, such as hemostats, needle forceps and surgical scissors.
The Company's online pharmacy operations are conducted through its subsidiary, Hangzhou Jiuzhou Grand Pharmacy Chain Co., Ltd. (Jiuzhou Pharmacy). The Company has established payment methods with banks and online intermediaries, such as Alipay (China) Internet Technology Ltd. (Alipay), and cooperates with business-to-consumer online vendors, such as Taobao, which lists its products on their platform and then directs consumers back to its Website to make their purchases.
The Company distributes third-party products offered at its pharmacies to drug distributors throughout China, including approximately 660 prescription drugs, over 720 OTC drugs and approximately 40 nutritional supplements. It also distributes TCM products, sundry products and medical devices.
The Company cultivates and harvests over 10 types of herbs, such as fructusrubi, white atractylodes rhizome, atractylodesmacrocephala, ginkgo seeds and maidenhair trees on approximately 50 acres of leased land in Lin'an, approximately 30 miles from Hangzhou. Fructusrubi is used in TCM to promote blood circulation. White atractylodes rhizome is used in TCM to treat physical and mental fatigue. Atractylodesmacrocephala is used in TCM to control sweating. Ginkgo seeds are used in TCM to treat asthma, and maidenhair trees used for TCM.
The Company competes with China Nepstar Chain Drugstore Ltd., LBX Pharmacy, TianTianHao Grand Pharmacy, Zhengchen Pharmaceutical Co., Ltd., Hangzhou Xiaoran Pharmaceutical Co., Ltd., Fengwoda Pharmaceutical Co., Ltd. and Jiuzhoutong Pharmaceutical Co., Ltd.
China Jo Jo Drugstores Inc
Yuzheng Plaza, No. 76, Yuhuangsh
HANGZHOU ZHJ 310002