The stock of the Jiuzi Holdings, Inc. (JZXN) gained in the pre-market today after the company announced that they have signed a sales cooperation contract with a leading Chinese Electric Vehicle brand distributor. The stock valued at $1.70 at the time of this writing. This is a gain of more than 8% from the previously closed value. At the end of the last trading session the stock closed at $1.57. The volume of the stock traded in the last trading session was approx. 881.55K.
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Reason of the stock gain:
On 15th December, 2021 Jiuzi Holdings, Inc. (JZXN) announced in a press release that their solely owned subsidiary Zhejiang Jiuzi New Energy Vehicles co. Ltd., has formed a sales cooperation agreement with the leading EV distributor in China named as Brilliance Xinri Automobile Sales Co. Ltd.
According to the agreement the Jiuzi Holdings subsidiary Zhejiang Juizi will set up the franchise stores of the Brilliance Xinri Electric Vehicles in different provinces and cities like Zhejiang Province and Hangzhou City. The purpose of establishing the franchise centers is that to increase sales and promotion of the Brilliance Xinri EVs. The Brilliance Xinri will provide assistance in training and of the franchise team as well as will bear the expenses of the training.
The Zhejiang Juizi will order 24 units of Brilliance Electric Vehicles at first. The monthly stock of keeping unit or SKU is set to be 24 units per months till the end of the agreement. The target to sell the Electric Vehicles of Brilliance Xinri is set to be at least 20 units per month.
Effect on the stock:
After this disclosure of the new agreement between two companies, the stock of Jiuzi Holdings, Inc. (JZXN) gained value. The investors are expecting higher revenue for the company as the result of the agreement. This agreement will help the company to increase its profitability and expand into new markets.
Conclusion:
Jiuzi Holdings, Inc. (JZXN) is expecting a revenue of RMB8 to RMB10 million alone from this agreement in the year 2022. This will make the company to achieve its financial goals of 2022 and strengthen its position.
