Jowell Global Ltd. (NASDAQ: JWEL) Expands Scope of its Logistics and Distribution Cooperation with ZTO Express Inc. (NYSE: ZTO) to Promote Business Development in International Markets
SHANGHAI, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Jowell Global Ltd. ("JWEL" or the "Company") (NASDAQ:JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, reported today that it has expanded its cooperation with ZTO Express (NYSE:ZTO), one of the leading express delivery companies in China in terms of parcel volume.
In November, 2022, JWEL and ZTO reached a customized warehouse distribution integration agreement which covers all logistic services for the Company, from warehousing management, express parcel distribution, express parcel packaging and express delivery, to be provided by ZTO Express.
Since the parties started cooperation a year ago in 2021, JWEL has used warehouse, logistics network and automatic sorting system at ZTO's regional center for its order processing. The joint efforts of the two parties have reduced the amount of time goods in transit, costs and losses in turnover, significantly improved operating efficiency for JWEL.
Mr. Zhiwei Xu, Chief Executive Officer and Chairman of Jowell Global Ltd., commented: "ZTO operates a highly scalable network partner model that enables it to expand nationwide network quickly and provide e-commerce merchants with greater geographic reach at low cost. Operational efficiency and economies of scale enable JWEL to achieve strong operating leverage. After more than a year's working closely with ZTO, it is a pleasure to announce an expansion to our collaboration. I anticipate the newly signed warehouse distribution integration agreement will prove to be a pivotal step in realizing our growth strategy and ensuring customer satisfaction around the world. The agreement will not only help us to simplify our logistics network, save on operating costs and deepen the relationship with ZTO, but also have a greater impact on our reputation to attract international brands and products to be sold on our platform, which is an important facet to provide sustainable growth for both parties."
The newly negotiated cooperation agreement is expected to further simplify major logistical processes, streamlining the distribution cycle and promote the seamless integration of numerous business processes of the Company. Moving forward, JWEL seeks to continue promoting in-depth cooperation with ZTO, to achieve sustainable growth for both parties and encourage high-quality development of the e-commerce logistics. Furthermore, JWEL will continue seek and cooperate with high-quality business partners to explore and expand international products and resources for its customers while improving their experience and satisfaction.
About ZTO Express (Cayman) Inc.
ZTO Express (Cayman) Inc. (NYSE:ZTO) ("ZTO" or the "Company"), founded on May 8th, 2002, is one of the leading express delivery companies in China in terms of parcel volume, with a 20.6% market share in 2021. ZTO is both a key enabler and a direct beneficiary of China's fast-growing e-commerce market, and has established itself as the trusted express delivery partner for millions of commerce customers, including online merchants and consumers selling and buying products on Chinese leading e-commerce sites, such as Alibaba, PDD, JD.com. For more information, please visit http://zto.investorroom.com.
About Jowell Global Ltd.
Jowell Global Ltd. (NASDAQ:JWEL) ("JWEL" or the "Company") is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China. The Company offers its own brand products to customers and also sells and distributes health and nutritional supplements, cosmetic products and certain household products from other companies on its platform. In addition, the Company allows third parties to open their own stores on its platform for a service fee based upon sale revenues generated from their online stores. The Company provides them with its unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. In addition, the Company sells its products through authorized retail stores all across China, which operates under the brand names of "Love Home Store" or "LHH Store" and "Juhao Best Choice Store". For more information, please visit http://ir.1juhao.com/.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward‐looking statements to reflect events or circumstances that arise after the date hereof.
For investor and media inquiries, please contact:
In China:
Jowell Global Ltd.
Ms. Jessie Zhao
Email: [email protected]
Seaquant Consulting
Mr. Roye Zhang
Email: [email protected]
