JIN MEDICAL INTERNATIONAL LTD. Announces Joint Venture With Shanghai Sdoma Smart Technology Co.; JV Dedicated To Production And Sales Of Range Of High-Quality Electric Wheelchair And Mobility Scooter Products
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Jin Medical International Ltd. (NASDAQ:ZJYL) has announced a joint venture with Shanghai Sdoma Smart Technology Co. to produce and sell electric wheelchair and mobility scooter products. The JV will be established in Shanghai with an investment of up to RMB50 million over the next three years, 60% of which will be contributed by JinMed and 40% by Sdoma. JinMed will handle design and production, while Sdoma will manage sales, brand marketing, and overall operation. The JV aims to expand product lines, market penetration, and sales channels. ResearchAndMarkets predicts the electric mobility scooter market in China will grow at a CAGR of over 8% between 2021 and 2026.
June 29, 2023 | 12:19 pm
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Jin Medical International Ltd. (NASDAQ:ZJYL) has formed a JV with Shanghai Sdoma Smart Technology Co. to produce and sell electric wheelchair and mobility scooter products. The JV aims to expand product lines, market penetration, and sales channels.
The joint venture with Sdoma is a significant milestone for JinMed as it will help the company expand its product lines and market penetration. This partnership is expected to bring stable growth to JinMed's business of daily living aids products. The growing demand for mobility scooters in China, predicted to grow at a CAGR of over 8% between 2021 and 2026, also indicates a positive outlook for the company.
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