{"id":380875,"date":"2020-11-13T09:03:34","date_gmt":"2020-11-13T14:03:34","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380875"},"modified":"2020-11-13T09:03:34","modified_gmt":"2020-11-13T14:03:34","slug":"china-jo-jo-drugstores-reports-second-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/china-jo-jo-drugstores-reports-second-quarter-2021-financial-results\/","title":{"rendered":"China Jo-Jo Drugstores Reports Second Quarter 2021 Financial Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n HANGZHOU, China<\/span>, Nov. 13, 2020<\/span> \/PRNewswire\/ — China Jo-Jo<\/span> Drugstores, Inc. (NASDAQ: CJJD) (“Jo-Jo Drugstores” or the “Company”), 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 second fiscal quarter ended September 30, 2020<\/span>.<\/p>\n

Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, “We are pleased with our second quarter performance as we delivered another quarter of strong results. Our revenue and gross profit recorded $30.84 million<\/span> and $7.01 million<\/span> for the second fiscal quarter of 2021, up 8.8% and 4.8% compared to same period of fiscal year 2020. Revenue year-over-year from online pharmacy increased by 127.4%. We have always been deeply committed to our communities, and we have taken necessary measures to protect the safety and health of our customers and employees during the global COVID-19 pandemic while making solid progress on our transformation strategy of ‘Medical Linkage & Technology Empowerment’. The environment surrounding COVID-19 is accelerating our transformation, giving us new opportunities to demonstrate our capabilities and gain retail market share in China<\/span>. We are building a strong foundation for sustainable growth and setting the platform to engage with consumers, and we are remaining focused on creating value for all our stakeholders.”\u00a0\u00a0 <\/p>\n

\n Second Quarter of Fiscal 2021 Financial Highlights<\/b>\n <\/p>\n

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

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

\n

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

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

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

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

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

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

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

\n

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

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

\n 30.84<\/span>\n <\/p>\n<\/td>\n

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

\n 28.35<\/span>\n <\/p>\n<\/td>\n

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

\n 8.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 Retail drugstores<\/span>\n <\/p>\n<\/td>\n

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

\n 17.93<\/span>\n <\/p>\n<\/td>\n

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

\n 18.00<\/span>\n <\/p>\n<\/td>\n

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

\n -0.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 Online pharmacy<\/span>\n <\/p>\n<\/td>\n

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

\n 5.35<\/span>\n <\/p>\n<\/td>\n

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

\n 2.35<\/span>\n <\/p>\n<\/td>\n

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

\n 127.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n \u00a0\u00a0\u00a0\u00a0\u00a0 Wholesale<\/span>\n <\/p>\n<\/td>\n

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

\n 7.56<\/span>\n <\/p>\n<\/td>\n

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

\n 8.00<\/span>\n <\/p>\n<\/td>\n

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

\n -5.5%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n 7.01<\/span>\n <\/p>\n<\/td>\n

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

\n 6.69<\/span>\n <\/p>\n<\/td>\n

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

\n 4.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n 22.7%<\/span>\n <\/p>\n<\/td>\n

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

\n 23.6%<\/span>\n <\/p>\n<\/td>\n

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

\n -0.9 pp*<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n (1.52)<\/span>\n <\/p>\n<\/td>\n

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

\n (1.62)<\/span>\n <\/p>\n<\/td>\n

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

\n 5.7%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n (1.53)<\/span>\n <\/p>\n<\/td>\n

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

\n (1.35)<\/span>\n <\/p>\n<\/td>\n

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

\n -13.4%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

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

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

\n (0.04)<\/span>\n <\/p>\n<\/td>\n

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

\n (0.04)<\/span>\n <\/p>\n<\/td>\n

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

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

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

\n *Notes: pp represents percentage points<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n