China Jo-Jo Drugstores Files 6-K for Q3 2023

TL;DR

China Jo-Jo Drugstores filed a 6-K for Q3 2023, confirming its corporate details and reporting address in China.

AI Summary

China Jo-Jo Drugstores, Inc. filed a Form 6-K on March 20, 2024, reporting for the period ending September 30, 2023. The filing indicates the company is a Cayman Islands exempted company and provides its principal executive office address in Hangzhou City, Zhejiang Province, China. The company previously operated under the name China Jo-Jo Drugstores Holdings, Inc. before an April 8, 2021 name change.

Why It Matters

This filing provides an update on the company's reporting status and corporate information, which is crucial for investors to track its regulatory compliance and corporate structure.

Risk Assessment

Risk Level: low — This is a routine filing providing corporate information and does not contain significant financial or operational news.

Key Players & Entities

• China Jo-Jo Drugstores, Inc. (company) — Registrant
• 0001213900-24-024364 (filing_id) — Accession Number
• 20240320 (date) — Filing Date
• 20230930 (date) — Period of Report
• Hangzhou City, Zhejiang Province, People's Republic of China (location) — Principal Executive Offices
• China Jo-Jo Drugstores Holdings, Inc. (company) — Former Company Name
• 20210408 (date) — Date of Name Change

FAQ

Key Financial Figures

• $5,852,324 — holesale business, revenue increased by $5,852,324 or 8.0% for the six months ended Septem
• $6,624,271 — ended September 30, 2023, decreased by $6,624,271, or 15.3% compared to the six months en
• $36,644,373 — six months ended September 30, 2022 to $36,644,373. However, excluding the impact of excha
• $5,962,823 — sting stores decreased by approximately $5,962,823, or 14.2%, while new stores contributed
• $713,544 — le new stores contributed approximately $713,544 in revenue in the six months ended Sept
• $1,850,426 — armacy sales increased by approximately $1,850,426, or 13.2% for the six months ended Sept
• $10,626,169 — growth. Wholesale revenue increased by $10,626,169 or 69.0%. For the six months ended Sept
• $987,597 — Gross Profit Gross profit decreased by $987,597 or 5.8% period over period primarily as
• $485,369 — ing and marketing expenses decreased by $485,369 or 3.3%, as compared to the same period
• $417,504 — he expense related to NNAT decreased by $417,504 period over period. Overall, such expen
• $2,002,894 — nd administrative expenses decreased by $2,002,894 or 55.1%, as compared to the same perio
• $1.7 million — ock-based compensation of approximately $1.7 million. On the other side, for the six months
• $0.9 million — 2023, we reversed bad debt allowance of $0.9 million as compared to reversal of bad debt all
• $0.7 million — ed to reversal of bad debt allowance of $0.7 million in the six months ended September 30, 2
• $0.2 million — bt allowance increased by approximately $0.2 million. Such expenses as a percentage of reven

Filing Documents

• ea0200950-6k_chinajojo.htm (6-K) — 259KB
• 0001213900-24-024364.txt ( ) — 1448KB
• cjjd-20230930.xsd (EX-101.SCH) — 15KB
• cjjd-20230930_cal.xml (EX-101.CAL) — 37KB
• cjjd-20230930_def.xml (EX-101.DEF) — 66KB
• cjjd-20230930_lab.xml (EX-101.LAB) — 174KB
• cjjd-20230930_pre.xml (EX-101.PRE) — 73KB
• ea0200950-6k_chinajojo_htm.xml (XML) — 67KB

Financial Statements

Financial Statements 1 Unaudited condensed consolidated balance sheets as of September 30, 2023 and March 31, 2023 1 Unaudited condensed consolidated statements of operations and comprehensive loss for the six months ended September 30, 2023 and 2022 2 Unaudited condensed consolidated statements of changes in shareholders' equity for the six months ended September 30, 2023 and 2022 3 Unaudited condensed consolidated statements of cash flows for the six months ended September 30, 2023 and 20 22 4

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 5 i

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS CHINA JO-JO DRUGSTORES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) September 30, March 31, 2023 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 18,649,931 $ 18,807,936 Restricted cash 10,950,389 12,762,708 Trade receivable 17,512,742 14,119,606 Inventories 19,591,140 15,309,100 Other receivables, net 2,152,125 2,725,015 Advances to suppliers 444,323 142,417 Other current assets 520,537 616,008 Total current assets 69,821,187 64,482,790 NON-CURRENT ASSETS Property and equipment, net 4,672,145 5,100,264 Long-term investment 1,159,275 1,772,072 Farmland assets 627,573 666,721 Long-term deposits 1,087,694 1,038,125 Other noncurrent assets 725,111 790,056 Operating lease right-of-use assets 13,683,765 13,924,826 Intangible assets, net 2,990,780 3,195,748 Total non-current assets 24,946,343 26,487,812 Total assets $ 94,767,530 $ 90,970,602 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 34,401,260 $ 26,990,250 Notes payable 24,522,897 29,255,776 Other payables 1,677,055 1,314,919 Other payables - related parties 1,450,423 683,560 Customer deposits 654,664 695,931 Taxes payable 1,656,743 1,706,909 Accrued liabilities 378,222 756,516 Current portion of operating lease liabilities 5,043,017 5,131,373 Total current liabilities 69,784,281 66,535,234 Long-term operating lease liabilities 7,445,300 7,768,216 Total liabilities 77,229,581 74,303,450 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY Ordinary shares; $ 0.24 par value; 150,000,000 shares authorized; 1,682,861 and 1,184,861 shares issued and outstanding as of September 30, 2023 and March 31, 2023, respectively 403,887 284,367 Preferred shares; $ 0.001 par value; 10,000,000 shares authorized; none issued and outstanding as of September 30, 2023 and March 31, 2023 - - Additional paid-in capital

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: March 20, 2024 CHINA JO-JO DRUGSTORES, INC. By: /s/ Lei Liu Name: Lei Liu Title: Chief Executive Officer 9

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View this 6-K filing on SEC EDGAR