New York, July 10, 2026, 12:09 EDT
Jiuzi Holdings Inc. NASDAQ:JZXN more than doubled around midday on Friday after it said it intended to sign a cooperation agreement with an unnamed artificial-intelligence imaging and data-platform company, with about $1 million of profit expected in an initial phase. The shares traded at $2.36, up 101.7%, after touching $3.16; volume reached 119.1 million by 11:53 a.m. EDT. The agreement has not been executed.
The trading intensity was more extreme than the price move. A June 16 ownership filing showed Jane Street Group held 68,955 shares, representing 5.2% of the class, which implies roughly 1.33 million shares outstanding. Friday’s volume was therefore about 89.8 times that estimated share base. Turnover divides trading volume by a share count; the same share can change hands repeatedly, so it does not represent 90 separate groups of owners.
The move was not mirrored by two U.S.-listed China electric-vehicle peers, suggesting the burst was tied to Jiuzi’s announcement rather than a broad sector bid.
| Midday comparison | Price | Day change | Volume |
|---|---|---|---|
| Jiuzi Holdings NASDAQ:JZXN | $2.36 | +101.7% | 119.1 million |
| Niu Technologies (NASDAQ:NIU) | $2.16 | +4.1% | 81,707 |
| Kandi Technologies Group (NASDAQ:KNDI) | $0.71 | +2.7% | 15,372 |
The proposed profit also looks large beside Jiuzi’s operating base. In fiscal 2025, when 99.5% of revenue came from reselling sourced equipment and accessories, the company recorded $2.88 million in revenue, $20,069 in gross profit — sales left after direct product costs — and a $10.19 million net loss.
| Scale test | Fiscal 2025 base | $1 million target versus base |
|---|---|---|
| Revenue | $2.883 million | 34.7% |
| Gross profit | $20,069 | 49.8 times |
| Net loss | $10.191 million | Equivalent to 9.8% of the loss |
Jiuzi did not say whether “profit” meant gross, operating or net profit, so those comparisons measure scale rather than forecast earnings. Chief Executive Hongye Zhang called the proposal “a practical step in the commercialization” of the platform and said the contribution, “if realized,” would demonstrate the strategy’s commercial potential. The planned work includes AI recognition, automated tagging, image filtering, data fusion and cloud deployment. GlobeNewswire
The AI push has moved quickly. Jiuzi’s New York subsidiary signed a memorandum of understanding in May to explore imaging, cloud and data-management systems; a memorandum is a preliminary outline that is often non-binding. A June 1 update said the platform was being prepared for commercial deployment, but neither announcement identified a customer contract or disclosed revenue.
But the downside is direct. Without a definitive agreement, successful customer acceptance and payment collection, the $1 million figure may have no earnings value. Jiuzi has also warned that its small public float — shares available for public trading — can produce rapid price moves unrelated to its operating performance. A failed signing or weaker project economics could prompt a sharp reversal.
The next test is documentary, not promotional: a signed contract, the partner’s identity, a timetable and a clear definition of profit. Until those arrive, investors are putting a price on a conditional target in a stock whose estimated share base turned over almost 90 times before noon.
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