Jiuzi Gets RMB 10 Mn Cash Subsidy from Govt

Xiaoshan government launched a Phoenix Action 2.0 incentive plan in early 2021 that aims to encourage and promote local enterprises to gain access to domestic and international capital public markets.

Jiuzi New Energy is among the five new companies that have successfully completed initial public offerings in 2021.

Other newly listed firms from Xiaoshao District include, among others, Cloud Village Inc. (NetEase Cloud Music). In addition, Jiuzi New Energy is the only company that has successfully completed listing in the U.S. capital market in 2021.

Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., commented: "We greatly appreciate the solid recognition from Xiaoshan District government because it signifies Jiuzi's business growth and manifests its capital market strategy. Jiuzi New Energy is confident that it will fulfill its promise to deliver low-carbon, innovative, safe and intelligent commute solutions to contribute its part to China's goal of achieving carbon-neutral by 2060."

"With such strong policy support from our local government, we are able to continue driving growth of our online to offline strategies and to empower our business in order to build a one-stop NEV retail ecosystem and to create sustainable economic benefits for our shareholders."