FUZHOU,
China, May 1, 2024 /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, 2023.
Financial Highlight
- Total revenues were $26.95
million for the six months ended December 31, 2023.
- Overall gross profit margin still reached 24.4%,
but net profit decreased due to increased expenditure on brand
promotion and advertising.
- Net assets of $149.11 million
as at 31 December 2023.
- Increased public cleaning business, signed a number of
well-known property cleaning and public place cleaning,
restructured its elderly care business and electrical maintenance
business.
Mr. Wenshan Xie, Chairman and CEO
of E-Home, commented: "The last six months have been more
challenging for our business, as the economic downturn and industry
involution have also affected our business. In particular, the
increase in service personnel costs and the concentration of
marketing and advertising channels on the Internet have affected
us. However, the overall turnover of our company remained stable
for the half year."
Recent Development
Mr. Wenshan Xie, Chairman and CEO
of E-Home, commented: "We remain confident in our ability to
improve profitability in the future. This is because not only do
our fundamentals remain strong, but we have restructured our
business model, including our elderly care and maintenance
business, added new contracts for high-speed rail stations and
government buildings, and implemented a comprehensive strategic
plan for cleaning services in public places. The company is also
introducing AI smart customer service and piloting the use of AI
housekeeping robots to address customer service issues. The company
expects these businesses to perform well in 2024 and contribute to
the company's profitability."
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) Cleaning of public establishments.
After years of development, the Company has formed two main
services and two auxiliary services targeting at individual
consumers (ToC) and business clients (ToB), with two important
subsidiaries. 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. Two subsidiaries: 1. Zhongrun
Pharmaceutical, which integrates pharmaceutical warehousing,
distribution, wholesaling, retailing and online sales; 2. Chuang
Ying Business School: corporate president class training, in-house
training, business consulting and counseling, and policy
counseling.
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
