E-Home Household Services Holdings Limited Signed Property Cleaning Contracts with Shibang Taihe and Jinhui Property in January 2024 for a Total Amount of Over RMB 40 Million

Rhea-AI Summary

E-Home Household Services Holdings Limited (NASDAQ:EJH) announced new community cleaning and care contracts with Shibang Taihe Property and Jinhui Property for nearly 20 projects in Fujian Province, with a total value of more than RMB40 million. The company's Chairman and CEO, Mr. Wenshan Xie, emphasized the company's professional service team and distinctive features, expressing confidence in enhancing the company's comprehensive competitiveness in the market.

Market Research Analyst

The announcement by E-Home Household Services Holdings Limited regarding the signing of new contracts for community cleaning and care services represents a significant business development for the company. The contracts, valued at over RMB 40 million, indicate a substantial inflow of revenue for the company, which could positively affect its financial performance. These contracts with Shibang Taihe Property and Jinhui Property cover nearly 20 projects, suggesting a notable expansion of eHome's market presence within Fujian Province.

From a market research perspective, the company's ability to secure such contracts reflects its competitive positioning in the home services industry. It underscores eHome's operational capabilities and the trust it has garnered from property management companies. This could potentially lead to further business opportunities and partnerships, contributing to long-term growth. Additionally, the company's emphasis on high-quality service and customer satisfaction is likely to enhance its reputation and brand value, which are critical factors in attracting and retaining customers in the service industry.

Financial Analyst

The financial implications of the new contracts for E-Home Household Services Holdings Limited are noteworthy. With a total value exceeding RMB 40 million, the contracts are expected to contribute significantly to the company's revenue stream. This influx of capital could improve the company's earnings and potentially lead to an uptick in its stock price on NASDAQ, where it is listed. Investors will likely monitor the company's ability to efficiently manage the increased workload and maintain profit margins.

In terms of financial health, the execution of these contracts may also affect the company's cash flow and balance sheet. The company's statements about its 'distinctive features and significant advantages' suggest that it may have been able to leverage these to negotiate favorable contract terms. For investors, the effective management of these contracts could signal strong operational execution and project management skills, which are essential for maintaining profitability in the face of increased operational expenses.

Economist

The contracts secured by eHome reflect broader economic trends within China's service sector. The growth in community cleaning and care services indicates an increasing demand for such services in urban areas, likely driven by urbanization and higher living standards. This could be indicative of a larger shift in consumer preferences towards outsourcing household tasks, which presents opportunities for companies like eHome to capture market share.

From an economic standpoint, eHome's expansion could contribute to local employment and stimulate economic activity in Fujian Province. The service industry is labor-intensive and the company's growth could have a multiplier effect on the local economy. Moreover, as eHome expands its service offerings and footprint, it may induce competitive responses from other market participants, potentially leading to innovation and improved service standards across the industry.

FUZHOU, China, Jan. 10, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, the Company today announced that that at the beginning of 2024, the Company signed new community cleaning and care contracts with Shibang Taihe Property and Jinhui Property for nearly 20 projects in Fujian Province, including "Xiamen Leader City", "Quanzhou Zhongjun Plaza", "Fuzhou Rhinoceros City", "Fuzhou Earl's Hill", "Fuzhou Jinhui Fontaine", etc., with a total value of more than RMB40 million.

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: "eHome has a professional service team, the company through years of accumulation, in terms of personnel, machinery and equipment, technology and management experience and other aspects of the formation of distinctive features and significant advantages. This cooperation is the embodiment of the company's comprehensive strength, as well as full trust and affirmation of the company's professional ability, service level and corporate strength, which is conducive to enhancing the company's comprehensive competitiveness in the market, and achieving the opening of the performance of eHome 2024. The company will continue to uphold the service concept of "solving each and every customer's problem with heart and soul", constantly improve its core competitiveness, complete the project services with high standards, high requirements, high quality and high efficiency, and actively expand other projects, ensure high-quality services with firm confidence and sincere cooperation, and continuously improve customer satisfaction."

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

What contracts did E-Home Household Services Holdings Limited (NASDAQ:EJH) announce?

E-Home announced new community cleaning and care contracts with Shibang Taihe Property and Jinhui Property for nearly 20 projects in Fujian Province.

What is the total value of the contracts announced by E-Home Household Services Holdings Limited (NASDAQ:EJH)?

The total value of the contracts announced by E-Home is more than RMB40 million.

Who is the Chairman and CEO of E-Home Household Services Holdings Limited (NASDAQ:EJH)?

Mr. Wenshan Xie is the Chairman and CEO of E-Home.

What is the company's service concept?

The company upholds the service concept of 'solving each and every customer's problem with heart and soul'.

Where are the projects located?

The projects are located in Fujian Province, including 'Xiamen Leader City', 'Quanzhou Zhongjun Plaza', 'Fuzhou Rhinoceros City', 'Fuzhou Earl's Hill', 'Fuzhou Jinhui Fontaine', etc.