Benzinga | Jan 11, 2022 08:15AM EST

Jiuzi Holdings Signs Strategic Cooperation Agreement With Chinese Leading E-Commerce Service Provider; Terms Not Disclosed

Jiuzi Holdings, Inc. (NASDAQ:JZXN, the &quot, , Company&quot, , , Jiuzi New Energy))))), a new energy vehicles franchisor and retailer under the brand name "Jiuzi" in China, today announced that, on December 23, 2021, the Company, through its wholly-owned subsidiary, Zhejiang Jiuzi New Energy Vehicles Co., Ltd. ("Zhejiang Jiuzi"), has entered into a two-year strategic cooperation agreement (the "Agreement") with Shanghai Zhongtongji E-Commerce Co. Ltd. ("Zhongtongji"), a leading domestic E-Commerce and retail services provider founded by senior management of ZTO Express (NYSE:ZTO).

Pursuant to the Agreement, Zhejiang Jiuzi and Zhongtongji will jointly explore application of new energy delivery vehicles in an effort to promote the idea of "green" logistics. With its diversified products, Zhejiang Jiuzi will sell and rent to Zhongtongji new energy delivery vehicles such as Geely and Chongqing Ruichi branded minivan, van body truck and traditional truck to meet Zhongtongji's logistic needs, as well as offer the most optimal discount available to major clients on Zhongtongji's platform.

The two parties will also work proactively to propose new initiatives for the cooperation in order to fulfill their respective strategic plans and business goals, which include marketing, resource sharing, and staffing and technological support. Zhejiang Jiuzi is also tasked with providing up-to-date catalogue of the brands, prices and models of its new energy vehicles to Zhongtongji to meet their clients' changing demands.

Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., commented: "We are excited to announce the partnership with Zhongtongji, a leading E-Commerce and retail services venture as well as an important business partner of ZTO Express (NYSE:ZTO). It's an important recognition of Jiuzi's industry position and brand image in domestic new energy vehicle retail market. We expect the cooperation to help Zhongtongji optimize its expense structure and operating efficiency, and bring financial contributions to Jiuzi going forward."

"This partnership represents our first step into the E-Commerce industry and we aim to keep expanding such tie-up in E-Commerce logistics segment in the future. The huge volume of domestic E-commerce and the great efforts of Chinese government to promote the use of new and clean energy logistic vehicles will bring promising market potential for NEVs, and Jiuzi will continue seeking more opportunities to grow our business scale in this area," Added Mr. Zhang.