FUZHOU, China, Oct. 21, 2022 (GLOBE NEWSWIRE) — E-Home Household Service Holdings Limited (Nasdaq: EJH) (the “Company” or “E-Home”), an integrated household service provider in China, announced today announced that the company’s subsidiary, Zhongrun (Fujian) Pharmaceutical Co., Ltd. (“Zhongrun”) presented a new strategic business plan to expand market coverage and medical product offerings through online and offline sales channels in Fujian Province, China. Zhongrun has also entered into a partnership with traditional Chinese medicine (“TCM”) company Zhejiang Huisong Pharmaceutical Co. Ltd. (“Huisong”).
In line with the business plan, Zhongrun will transition from the existing pharmaceutical wholesale business to the retail market through offline and online sales channels. Zhongrun will launch in-depth cooperation with offline pharmaceutical chain stores and major online pharmaceutical e-commerce platforms. At the same time, Zhongrun also plans to enter the upstream production and processing industry of pharmaceuticals, health care products and appliances, to create its own brand or model of equipment manufacturer. original (OEM).
In line with the partnership with Huisong, Zhongrun will help supply and distribute epidemic and flu prevention medicines such as herba houttuyniae electuaries in China’s Fujian Province produced by Huisong, one of the top 10 TCM exporters in China. . The partnership is expected to generate annual sales of around RMB 20 million.
Mr. Wenshan Xie, Chairman and CEO of E-Home, commented, “Our new attempt to enter the processing and manufacturing industries upstream of the pharmaceutical and healthcare industry chain will also help the company to further improve its profitability in the midst of Covid-19. the epidemic and the next flu season. In addition to the new revenue stream from the partnership with Huisong, we also expect the new pharmaceutical e-commerce cooperation project to generate additional sales of approximately RMB 20 million in the next 12 months. We are delighted to announce a partnership with Huisong, China’s largest MTC company, to jointly expand our business in Fujian, which is another recognition of our strong local sales network and business operations.
About E-Home Household Service Holdings Limited
Founded 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家快服”, provides integrated home services, including 1) installation and maintenance of home appliances and smart homes; 2) Housekeeping, nanny, duty nurse and cleaning services; 3) Internet Elderly Care + Home 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 individuals (ToC) and enterprises (ToB). 1) The ToC business focuses on nanny, confinement nurse, elderly home care and cleaning, and full family service supplemented with other housekeeping services. At present, it has successfully connected with metaverse technology to realize metaverse-based customer service as well as domestic worker training. The ToB business focuses on public cleaning and robotic cleaning equipment. Four ancillary services include 1) docking and applying metaverse technology to the janitorial and cleaning industries; 2) online and offline drug and health food sales (including nannies and nurses); 3) training nannies and caregivers to engage in health care in physical stores; 4) human resources (flexible employment).
E-Home has become a modern full-service company for family life. The company always adheres to the business philosophy of “solving every problem of customers with heart” and the code of conduct of “doing everything well with heart”. The Company aims to set the benchmark for the household services industry. For more information, visit the company’s website at http://www.ej111.com/ir.html.
All statements other than statements of historical facts contained in this announcement are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties and are based on expectations and projections of 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”, “continuing”, “is/are likely to” or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances occurring future, or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that these expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to consider risk factors, including those described in the Company’s filings with the SEC, which could affect the future results of the S company. 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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