China Jo-Jo Drugstores Appoints Mr. Wei Hu as COO to Strengthen Operations for Future

HANGZHOU, China, Nov. 9, 2018 /PRNewswire/ — China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD) (“Jo-Jo Drugstores” or the “Company”), a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products and a healthcare provider in China, today announced that Mr. Wei Hu was nominated and approved by the Company’s Board of Directors to serve as the Company’s Chief Operating Officer effective November 7, 2018.

Mr. Hu has an extensive track record of innovation and business success in key roles in various institutions in the healthcare industry. His areas of expertise include hospital management, strategic planning and deployment, performance management, lean management, medical quality management, operational analysis, information management, and external cooperation and exchange. His career highlights include:

• Served as Vice President of Taizhou Central Hospital (Taizhou College Affiliated Hospital) since September 2016. He is also the Vice President of Taizhou Medical Association, the Vice Chairman of the Special Committee of Nasopharyngeal Carcinoma and Tumor Causes of Zhejiang Anti-Cancer Association, a Standing Committee Member of the Cancer Radiotherapy Professional Committee of Zhejiang Medical Association, a member of the Provincial Clinical Epidemiology and Evidence-Based Medicine Branch, member of the Cancer Pain Professional Committee, and leader of the Cancer Chemotherapy and Chemotherapy Group of Taizhou Medical Association.
• Served as Executive Vice President, Vice President and Dean of Enze Medical Center of Taizhou Central Hospital from February 2011 to September 2016. Under his leadership, Taizhou Central Hospital was named Class 3 Grade A hospital in 2011.
• Successively served as Director of Radiotherapy Department and Assistant Dean of Taizhou Hospital.
• Deputy Chairman of the Fourth Committee of Taizhou Municipality as well as Standing Committee of the Fifth Taizhou Municipal Committee of the Chinese People’s Political Consultative Conference (“CPPCC”.)
• Earned a Bachelor of Science in Clinical Medicine and is currently a Ph.D. candidate at the Medicine School of Zhejiang University.

Mr. Wei Hu, Chief Operating Officer of Jo-Jo Drugstores, Inc., stated, “It is a great honor to join Jo-Jo Drugstores. This is an exceptionally important time for Jo-Jo Drugstores and the health industry as a whole in China as the retail pharmacy industry adapts to trends in digital technology, demographics, and medical science. At Jo-Jo Drugstores our ambition is to help lead the transformation of health care services to adapt to these trends. I am proud to join an innovative executive team as we attempt to drive forward our business and create a uniquely satisfying experience for our customers.”  

Mr. Lei Liu, Chief Executive Officer and Chairman of Jo-Jo Drugstores, Inc., commented, “Mr. Hu is an accomplished executive of the health industry with a long track record of success and accomplishments. Mr. Hu’s dynamic accomplishments and his depth of knowledge and deep industry connections make him an exceptional addition to our team as our Chief Operating Officer as we advance our growth strategy. We are very confident in Mr. Hu’s vision for this critical role in our organization.”  

About China Jo-Jo Drugstores, Inc.

China Jo-Jo Drugstores, Inc. (“Jo-Jo Drugstores” or the “Company”), is a leading online and offline retailer and wholesale distributor of pharmaceutical and other healthcare products in China. Jo-Jo Drugstores currently operates retail drugstores and an online pharmacy. It is also a wholesale distributor of products similar to those carried in its pharmacies and it cultivates and sells herbs used for traditional Chinese medicine. For more information about the Company, please visit http://www.chinajojodrugstores.com/. The Company routinely posts important information on its website.

Forward-Looking Statements

This press release contains information about the Company’s view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. The Company’s encourages you to review other factors that may affect its future results in the Company’s annual reports and in its other filings with the Securities and Exchange Commission.

For more information, please contact:

Company Contact: 

Frank Zhao
Chief Financial Officer
+86-571-88077108
frank.zhao@jojodrugstores.com

Steve Liu
Investor Relations Director
steve.liu@jojodrugstores.com

Investor Relations Contact:

Tina Xiao
Ascent Investor Relations LLC
+1-917-609-0333
tina.xiao@ascent-ir.com  

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