Jiuzi Signs Strategic Cooperation Pact with Distributor of Zhejiang Geely

Jiuzi Holdings, Inc. announced that, on December 25, 2021, the Company, through its wholly-owned subsidiary, Zhejiang Jiuzi New Energy Vehicles Co., Ltd., has entered into a two-year strategic cooperation agreement with Zhejiang Farizon Zhitong Technology Co. Ltd.

Farison Zhitong is a domestic new energy commercial vehicles distributor wholly owned by Zhejiang Geely New Energy Commercial Vehicle Group Co. Ltd., which is a commercial vehicle maker owned by China Zhejiang Geely Holding Group, a leading privately operated auto manufacturer.

Pursuant to the Agreement, Zhejiang Jiuzi and Farizon Zhitong will jointly explore the application of new energy delivery vehicles to promote the idea of green via new energy vehicles within the network of China's top express delivery companies, such as ZTO Express, YTO Express, Yunda Express, STO Express and Best Express.

Furthermore, Zhejiang Jiuzi will make use of its existing partnership with companies associated with these leading courier companies to promote sales and brand recognition of Farizon branded vehicles in the network.

Farizon Zhitong, in return, will offer a preferential purchase policy for Zhejiang Jiuzi and its major clients' orders of new energy vehicles, such as commercial minivan, van body truck and traditional truck, among other models.

The two parties will also work together proactively to propose new initiatives for the cooperation in order to fulfill their respective strategic plans and business goals.

For example, Farizon Zhitong will be tasked with providing up-to-date catalogue of the brands, prices and models of its new energy commercial vehicles to Zhejiang Jiuzi.

Mr. Shuibo Zhang, CEO of Jiuzi Holdings, Inc., commented: "We are thrilled to announce this partnership with Farizon Zhitong and to join the network of top automaker, Zhejiang Geely, in new energy commercial vehicle and green logistic/delivery services. Since our recent alliance with leading e-commerce and retail platform Shanghai Zhongtongji E-Commerce Co. Ltd., this new collaboration marks our consistent strategic approach in clean energy vehicles and represents another major achievement for our business strategy in the logistics and express delivery segments. It is an important recognition of Jiuzi's industry position and brand image in domestic new energy vehicle retail market. We expect the cooperation to bring significant financial contributions to Jiuzi going forward."