Business Intelligence on Retailing, Franchising, and Consumerism in China

China Jo-Jo Drugstores Faces Weaker Growth

Hangzhou-based China Jo-Jo Drugstores Inc. reported earnings results for the third quarter of fiscal 2013 ended December 31, 2012.

Revenue for the company decreased 39.1% from a year ago to USD15.6 million, but third quarter retail drugstore sales revenue improved 7.3% from the second quarter fiscal year 2013.

The company's retail gross margin decreased to 23.3% in the three months ended December 31, 2012, from 36.7% in the three months ended December 31, 2011. The Chinese government has included more prescription and OTC drugs in the price control list, and some of Jo-Jo's products' prices were higher than the prices set by the Chinese government. Therefore, the company says it had to adjust these products' prices.

The company's net income decreased by USD10,930,507 period over period, to a net loss of USD4,480,083.

As of December 31, 2012, the company says it has USD3.8 million of cash, USD58.0 million in current assets and USD33.0 million in total liabilities.

Be the first to comment on "China Jo-Jo Drugstores Faces Weaker Growth"

Leave a comment

Your email address will not be published.


  Other China News

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco