- The stock price of Jiuzi Holdings Inc (NASDAQ: JZXN) increased by over 20% during intraday trading today. This is why it happened.
The stock price of Jiuzi Holdings Inc (NASDAQ: JZXN) – a new energy vehicles franchisor and retailer in China – increased by over 20% during intraday trading today. Investors are responding positively to Jiuzi Holdings announcing that Jiuzi Southern China Operation Center (Jiuzi SC), also known as Nanning Jiuzi New Energy Operation Management Center, has officially commenced its operation on September 29, 2021, in an effort to expand the Company’s market share in the Southern China.
Setting up Jiuzi SC has major significance to Jiuzi’s strategic layout and is indicative of the company’s determination to further expand its domestic market share. Utilizing JZXN’s current market coverage, distribution network, and brand image, Jiuzi SC is expected to not only effectively expand the company’s geographical horizon, but also to make more operational and financial contributions to JZXN. Jiuzi SC is going to start in Nanning, the capital city of Guangxi Province, and gradually increase coverage within the region.
As part of Jiuzi SC’s expansion effort, JZXN also entered into a strategic cooperation agreement with Nanning Huangyang Automobile Sales Limited, which is a leading new energy vehicle distributor in Guangxi Province and authorized by the company to sell JZXN’s new energy vehicles within Southern China. Both parties are going to utilize their respective market resources and advantages to jointly boost the sales volume of the new energy vehicles and improve brand recognition in the Southern China market.
“We are very excited about the establishment of Jiuzi Southern China, which is one of the most important strategic moves in Jiuzi’s business blueprint. Since our debut on Nasdaq market in May 2021, we have been steadily operating our legacy business and effectively growing our geographic and market footprint. We have seen greater acceptance to the new energy vehicles in China market in recent years. JZXN will continually expand our strategic layout within China to meet the growing demands in this area and obtain long-term return for our investors.”
— Shuibo Zhang, CEO, Director and Chairman of Jiuzi Holdings
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.