FUZHOU, China, 06 Jul. Feb. 2, 2022 (GLOBE NEWSWIRE) — E-Home Household Service Holdings Limited (Nasdaq: EJH) (the “Company” or “E-Home”), an integrated home service provider in China, today announced the company has obtained a service contract from the Fujian company of PICC Property and Casualty Co. Ltd. (“PICC Fujian”), to provide property and appliance cleaning and maintenance services to customers of PICC Fujian.
In accordance with the contract with PICC Fujian, E-Home will be the designated home service provider for PICC Fujian insurance customers who purchase insurance products from PICC Fujian and are offered additional housekeeping services in as part of an incentive rebate program. The partnership with PICC would bring about RMB 2-3 million in service revenue per year.
Meanwhile, Putian YouYou Cleaning Co., Ltd. (“YouYou”), a subsidiary of the Company, has been awarded a new RMB 1.4 million property cleaning contract by the Quanzhou subsidiary of the Fujian Bon Property Management Group (“Bon Quanzhou”). Based on the signed contract, YouYou will perform daily sweeping and maintain cleanliness in two designated neighborhoods under the leadership of Bon Quanzhou.
YouYou is a leading cleaning service provider and a member company of Fujian Province Cleaning Industry Association. E-Home acquired 60% of YouYou shares in January.
Mr. Wenshan Xie, Chairman and CEO of E-Home, commented, “PICC, as one of the leading insurance companies in China, has a large insurance customer base. We are delighted to have been selected by our esteemed client PICC to provide high quality services, which is no doubt a testament to our level and reputation in the industry. We strive to maintain a long and productive partnership with PICC, which will help generate consistent revenue for E-Home. Youyou continues to operate as an important subsidiary that has helped us generate sustainable and meaningful revenue since the acquisition. We are convinced that E-Home will maintain this good momentum and will seek to continue to grow our business for the current financial year.
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, sister-in-law and cleaning services; 3) Internet-based 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 individuals (ToC) and enterprises (ToB). 1) The ToC business focuses on nanny, sister-in-law, elderly home care and cleaning, and comprehensive 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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