FUZHOU, China, May 26, 2023 /PRNewswire/ -- E-Home Household
Service Holdings Limited (Nasdaq: EJH) (the "Company" or "E-Home"),
a provider of integrated household services in China, today announced its financial results
for the six months ended December 31,
2022.
Financial Highlight
- Total revenues were $38.88
million for the six months ended December 31, 2022, 14.1% increase compared with
December 31, 2021.
- Cash and cash equivalents were $62.47 million and $54.84
million as of December 31,
2022 and June 30, 2022,
respectively.
- Added Sales of pharmaceutical products, which added
$1,380,344 in new revenue.
- Added Educational consulting services, with revenue of
$647,442.
Mr. Wenshan Xie, Chairman and CEO
of E-Home, commented: "The past half year has posed great
challenges as COVID-19-caused country-wide lockdown adversely
affected our business. In particular the pandemic outbreak during
October and December 2022 in
Fuzhou and other cities of
Fujian province, where most of our
business are based, has greatly disturbed normal operation of our
business. As a result, our total revenue was affected but still
reached $38.88 million for the
six months ended December 31,
2022."
"We remain confident in our ability to improve earnings going
forward as not only our fundamentals remain strong, we are
implementing an expansionary strategic plan in Sales of
pharmaceutical products and Educational consulting services. The
company also expects these businesses to perform favourably in
2023."
Recent Development
On June 14, 2022 and December 20, 2022, the Company and its wholly
owned subsidiary, E-Home Hong Kong, entered into equity transfer
agreements with Zhongrun, a limited liability company established
in China and Ms. Ling Chen, pursuant to which Ms. Chen agreed to
transfer 55% and 20% of the equity interests in Zhongrun to E-Home
Hong Kong. Zhongrun is a leading operator of pharmaceutical and
personal care products in China.
On August 2, 2022, E-Home
Household Service Holdings Limited (the "Company") and the
Company's wholly owned Hong Kong
subsidiary, E-Home Household Service Holdings Limited ("E-Home Hong
Kong") entered into an equity transfer agreement with Fujian
Chuangying Business Science and Technology Co., Ltd., a limited
liability company formed in China
("Chuangying") and Mr. Jianying Lin,
the sole shareholder of Chuangying, pursuant to which Mr. Lin
agreed to transfer 100% of the equity interests in Chuangying and
10% of the equity interests in each of Fuzhou Funeng Enterprise
Management Consulting Co., Ltd. and Fujian Weizhixing Technology
Co., Ltd. (the "Chuangying's Subsidiaries," which are 90% owned by
Chuangying) held by him to E-Home Hong Kong. Chuangying is an
excellent company for comprehensive corporate services and
training.
About E-Home Household Service Holdings Limited
Established in 2014, E-Home Household Service Holdings Limited
is a Nasdaq-listed household service company based in Fuzhou, China. The Company, through its
website and WeChat platform "e-home", provides integrated household
services, including 1) installation and maintenance of home
appliances and smart homes; 2) Housekeeping, nanny, confinement
nurse and cleaning services; 3) Internet elderly care + home-based
elderly care; 4) Hospital care; 5) Nanny delivery platform.
After years of development, the Company has formed two main
services and four auxiliary services targeting at individual
consumers (ToC) and business clients (ToB). 1) The ToC business
focuses on nanny, confinement nurse, home-based elderly care and
cleaning, and family comprehensive service supplemented by other
housekeeping services. At present, it has successfully connected
with metaverse technology to realize metaverse-based customer
service as well as training of domestic workers. The ToB business
focuses on public cleaning and cleaning robotic equipment. Four
auxiliary services include 1) docking and application of metaverse
technology to housekeeping and cleaning industries; 2) online and
offline sales of medicine and health food (including nannies and
nursing workers); 3) training on nannies and nursing workers to
engage in health care in physical stores; 4) human resources
(flexible employment).
E-Home has become a modern enterprise of comprehensive service
for family life. The Company always adheres to the business
philosophy of "solving every issue of customers with heart", and to
the code of conduct of "doing everything well with heart". The
Company aims to set the benchmark of the household service
industry. For more information, visit the Company's website at
http://www.ej111.com/ir.html.
Forward-Looking Statement
All statements other than statements of historical fact in this
announcement are forward-looking statements in nature within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations and
projections about future events and financial trends that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions are intended to identify
such forward-looking statements. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to consider risk
factors, including those described in the Company's filings with
the SEC, that may affect the Company's future results. All
forward-looking statements attributable to the Company and its
subsidiaries or persons acting on their behalf are expressly
qualified in their entirety by these risk factors.
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SOURCE E-Home Household Service Holdings Limited