JZXN - Jiuzi Holdings signs sales cooperation contract with Chinese EV distributor

Jiuzi Holdings (NASDAQ:JZXN) trades +12% premarket as it announced that, through its wholly-owned subsidiary, Zhejiang Jiuzi New Energy Vehicles, has entered into a sales cooperation agreement with Brilliance Xinri Automobile Sales, a brand distributor of China's leading EVs. Pursuant to the Agreement, Zhejiang Jiuzi will establish a franchise store in Hangzhou City, Zhejiang Province, exclusively for the promotion and sales of the Brilliance Xinri EVs, subject to Brilliance Xinri's review and approval within 30 days upon the store's being set ready for operation. Specifically, Zhejiang Jiuzi will first order 24 units of Brilliance Xinri EVs and will keep a monthly SKU of 24 Brilliance Xinri EVs during the term of the cooperation. "We anticipate that this Agreement will bring us approximately RMB8-10 million in sales revenue in 2022, and we look forward to expanding our cooperation in the near future." said Mr. Shuibo Zhang, CEO of Jiuzi Holdings. JZXN +11.46% premarket to $1.75.

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Jiuzi Holdings signs sales cooperation contract with Chinese EV distributor