China Jo-Jo Drugstores Adds Three Stores in Lin'an Market and on Track to Achieve Retail Expansion Goal

HANGZHOU, China, Sept. 26, 2017 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD or the "Company") has opened three stores in the newly established Lin'an District of Hangzhou. There are now four China Jo-Jo drugstores in Lin'an District and the Company plans to open two more stores by the end of the year.

"We are pleased to expand our retail pharmacies in the newest district of Hangzhou and provide the community with high quality and convenient pharmacy services," China Jo-Jo's Chairman and CEO, Mr. Liu Lei commented, "We are well on our way to achieve our goal of operating 100 stores in Hangzhou, and remain committed to expanding in new districts such as Lin'an, Xiaoshan, Fuyang and consolidating our retail leadership."

With half a million population and abundant natural resources, Lin'an is one of the most economically developed county-level cities in China. On September 15, 2017, Lin'an was officially included as the tenth district of Hangzhou to promote innovative development and economic transformation.

China Jo-Jo's new stores in Lin'an District feature all of the 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, TCM, 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 three new China Jo-Jo stores in Lin'an District are located at:

• No. 639 Jincheng St. & Qianwang St.
• No. 616 Jincheng St. & Shijing St.
• No. 187 Jincheng St. & Chengzhong St.

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc., is a leading China-based pharmacy that engages in retail, wholesale and online distribution and sales of pharmaceutical and health care products, including through its online and retail pharmacies. As of Sep 26, 2017, the Company had 95 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, please visit: www.chinajojodrugstores.com. The Company routinely posts important information on its website.                                                  

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.