China Jo-Jo Adds Seven New Retail Drugstores in Hangzhou

HANGZHOU, China, Dec. 5, 2017 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (the "Company" or "China Jo-Jo") has opened seven new retail drugstores in the city of Hangzhou. 

"China Jo-Jo is pleased to further consolidate our retail pharmacy leadership in the Hangzhou community, offering convenient access to best-in-class pharmacy products and services," said Liu Lei, Chairman and CEO of China Jo-Jo Drugstores. "I look forward to these new stores serving as destination for health and wellbeing that offer our customers an excellent and reliable experience."

China Jo-Jo's new stores feature products and services for which thousands of customers across Hangzhou visit its stores every day, including:

• A full service pharmacy staffed by licensed pharmacists and pharmacy staff
• Prescription and OTC medicines, Traditional Chinese Medicines, dietary supplements, medical devices
• Health and beauty products including many popular brands
• General merchandise
• The China Jo-Jo Rewards Program, which offers exclusive discounts and enhance customer experience

The seven new China Jo-Jo stores are located at:

• No. 134 Wangshang Road, Binjiang District
• No. 7-7-10 Zhuantang Jiayuan, Binjiang District
• No. 440, 442, Fenghuangshan Road, Yuhang District
• No. 6, 7-129, Yunzhong Lvyuan, Lin'an District
• No. 403, Qianwang Street, Lin'an District
• No. 72, Caidong Road, Jianggan District
• No 348-103, Qingtai Street, Shangcheng District

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., is a leading China-based pharmacy that engages in retail, wholesale and online sales and distribution of pharmaceutical and health care products, including through its online and retail pharmacies. As of December 05, 2017, the Company had 108 retail pharmacies in Zhejiang Province. The Company's wholesale subsidiary supplies its retail stores and distributes drug and healthcare products to other drugstores and drug vendors. For more information, visit: www.chinajojodrugstores.com.

Forward Looking Statement                          

Statements in this press release regarding the Company that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including, but not limited to, financial guidance, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "estimate," "may," "will," "should," "project," "plan," "seek," "intend," "anticipate," the negatives thereof, or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. It is routine for the Company's internal projections and expectations to change as the quarter and year progresses, and therefore it should be clearly understood that the internal projections and beliefs upon which the Company bases its expectations may change. Although these expectations may change, the Company is under no obligation to inform you if they do. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of numerous factors, including the risks associated with the effect of changing economic conditions in the People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products. Readers are referred to the reports and documents filed from time to time by the Company with the Securities and Exchange Commission for a discussion of these and other important risk factors that could cause actual results to differ from those discussed in forward-looking statements. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations Contact:

Steve Liu
steve.liu@jojodrugstores.com

Frank Zhao
Chief Financial Officer
86-571-88077108
frank.zhao@jojodrugstores.com

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SOURCE China Jo-Jo Drugstores, Inc.