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CJJD+12% China Jo-Jo Drugstores Posted Record Online Sales on "Singles Day China" with 265% Revenue Increase

Today : Thursday 20 November 2014


HANGZHOU, China, Nov. 20, 2014 /PRNewswire/ -- China Jo-Jo Drugstores, Inc. (NASDAQ CM: CJJD) (the "Company"), a leading China-based retail and wholesale distributor of pharmaceutical and healthcare products through its own retail and online pharmacies, today announced its online pharmacy posted the largest one-day sales on Singles Day China, or the Black Friday China ("Singles Day"), November 11, 2014 with total revenue increased by 265% year over year, on a one-day sales comparison basis.

In order to encourage online shopping, since 2009, large online retailers in China such as Tmall.com ("Tmall") of Alibaba Group Holdings (NYSE: BABA), China's largest B2C online retailer and JD.com (NASDAQ: JD) ("JD") have started to make various discount sales on November 11 every year. November 11, also called Singles Day, has become the largest online commercial event in China.

Highlights of the Company's online pharmacy sales on Singles Day include:

Total one-day sales revenue reached approximately $521,000 (RMB3.21 million), a 265% increase from the sales record on the same day of the prior year. The result vastly exceeded the Company's targeted sales goal of approximately $325,000 (RMB2 million). The number of one-day online purchase orders increased 328% over the same day last year. In comparison, our regular daily online sale averaged at approximately $42,000 (RMB 0.26 million) in October 2014, an increase of more than 250% from the same month in 2013.

More than 90% of the Company's online sales were generated from our online pharmacy at Tmall, the Company's online stores at JD and YHD.com. The Company's official website generated the remaining sales.

As of October 2014, our online pharmacy was ranked 10th on Tmall.com in the Pharmacy and Health Goods category
"We are very encouraged to see a great increase of our online pharmacy sales during the Singles Day online shopping festival this year. We will continue to offer quality and safe products on our e-commerce platform, and provide a better shopping experience to our customers," commented Mr. Liu, Lei, Chairman and CEO of China Jo-Jo Drugstore. "Looking ahead, the dramatic increase of our online pharmacy sales on Tmall encourages us to further pursue our online growth strategy which we believe to be one of biggest opportunities for us in 2015 and beyond."