China Jo-Jo Receives Three Distinguished Awards from Municipal and Provincial Government for Brand Recognition, Operational Excellence and Integrity

HANGZHOU, China, Oct. 18, 2017 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (the "Company") today announced the receipt of three distinguished awards by Hangzhou municipal government and Zhejiang provincial government for leadership in brand recognition, operational excellence, and integrity and compliance. 

"China Jo-Jo is committed to high standards in all areas of our business and we are proud that our efforts were recognized by the municipal and provincial government and our customers," said Liu Lei, Chairman and CEO of China Jo-Jo Drugstores. "These achievements reflect the dedication and hard work of our colleagues and validate our leadership in operating retail drugstores in the Hangzhou area."

China Jo-Jo was the first retail drugstore to have won the recognition as a Hangzhou Famous Brand from Hangzhou Municipal Administration for Industry and Commerce and Hangzhou Municipal Bureau for Market Supervision and Administration.

China Jo-Jo is the only retail drugstore to be recognized as a Zhejiang Province Key Merchandizer by a collection of provincial and local governments agencies including Zhejiang Provincial Department of Commerce, Provincial and Local Taxation Bureau, Zhejiang Provincial Administration for Industry and Commerce, and People's Bank of China Hangzhou Main Branch. The Company initially received this award in 2013 and has passed the annual review for four consecutive years.

China Jo-Jo was also the first retail drugstore to have won the recognition as a Zhejiang Province Exemplary Enterprise for Integrity and Compliance by provincial agencies including the Economic and Trade Commission, Department of Finance, Department of Labor and Social Security, Environmental Protection Bureau, and Quality and Technical Supervision Bureau.

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.       

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.