Established in 2003 in the Zhejiang province (Hangzhou), China Jo-Jo Drugstores, Inc. operates a retail pharmacy chain in the People’s Republic of China. The Company offers both western and traditional Chinese medicine. The Company’s chain currently has 22 stores throughout Hangzhou, the provincial capital of the Zhejiang Province. China Jo-Jo Drugstores, Inc. trades on the OTC Bulletin Board and they have their corporate headquarters in Hangzhou, China.
China Jo-Jo Drugstores, Inc. operates through their contractually controlled affiliates 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.
China Jo-Jo Drugstores, Inc. provides a full range of products and services. They offer prescription drugs, OTC drugs, traditional Chinese medicine, and other sundries. Each of their stores provides access to licensed physicians providing consultations and/or outpatient services, Eastern medical services (Acupuncture).
On February 8, 2010, China Jo-Jo Drugstores, Inc. announced their financial results for their fiscal third quarter ended December 31, 2009. Fiscal Third Quarter 2009 highlights include revenues increasing 29.1 percent to $14.9 million. Gross profit increased 43.4 percent to $4.8 million. Income from operations for the Company grew by 25.2 percent to $3.4 million.
“Our revenue increase in the fiscal third quarter ended December 31, 2009 was largely attributable to operating more stores and increasing overall same store sales. Throughout the quarter, we continued to execute on our goal of providing our customers with quality name brand products at the lowest overall prices and offering physician consultations at all of our locations. Our focus is our customer’s overall health,” stated Mr. Lei Liu, Chairman and Chief Executive Officer of China Jo-Jo Drugstores, Inc.