E-Home Household Services Holdings Limited's subsidiary Zhongrun Pharmaceutical intends to acquire NBL (New Zealand) Limited to help expand the international market

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E-Home Household Service Holdings Limited

Feb 08, 2024, 09:00 ET

FUZHOU, China, Feb. 8, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, announced that its subsidiary, Zhongrun (Fujian) Pharmaceutical Co., Ltd, intends to acquire NBL (New Zealand) Limited ("NBL Company").

NBL (New Zealand) Limited has advanced fully automatic production lines, and three main production workshops equipped with independent purification and air-conditioning systems, 10 sets of independent HVAC systems, mainly produces powders and soft capsules of fish oil, vitamins, anti-aging and other health care drugs. In order to meet the clean requirements of different production workshops and to ensure the low temperature and low humidity requirements of special production processes, all workshops comply with the dust-free standards of international ISO, New Zealand GMP, GB, and the GMP level 100,000 class dust-free workshop, which is in line with the international GMP workshop construction standards. The factory covers a total area of more than 5,000 square meters, and the area of purification workshop is more than 2,200 square meters.

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: "The proposed acquisition of NBL (New Zealand) Limited by Zhongrun (Fujian) Pharmaceutical Co., Ltd. a subsidiary of E-Home Household Services Holdings Limited is the result of the transition from service to R&D+production+service in the healthcare pharmaceutical industry and the expansion of the international market by Zhongrun (Fujian) Pharmaceutical Co. The combination of Zhongrun (Fujian) Pharmaceutical Co., Ltd. and NBL (New Zealand) Limited can create a large-scale healthcare pharmaceutical portfolio and flagship products, and build a good complementary and synergistic advantage of Chinese and international resources. This is a key step for Zhongrun (Fujian) Pharmaceutical Co., Ltd., a subsidiary of E-Home Household Services Holdings Limited, to move into the international market. It is believed that the completion of this merger and acquisition will have a significant impact on the development of Zhongrun (Fujian) Pharmaceutical Co. It is believed that the completion of the merger and acquisition will help Zhongrun (Fujian) Pharmaceutical Co., Ltd. to complete the R&D+Production+Service+Market+Performance."

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). 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.

SOURCE E-Home Household Service Holdings Limited