Business
E-Home Household Service Holdings Limited Completes Acquisition of Majority Ownership of Zhongrun (Fujian) Pharmaceutical Co., Ltd.
FUZHOU, China, July 22, 2022 (GLOBE NEWSWIRE) -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the "Company" or "E-Home"), a provider of integrated
About this update from E-home Household Service Holdings Limited
[{"type":"text","content":"FUZHOU, China, July 22, 2022 (GLOBE NEWSWIRE) -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the \"Company\" or \"E-Home\"), a provider of integrated household services in China, today announced that via its wholly-owned Hong Kong subsidiary E-Home Household Service Holdings Limited (“ Hong Kong E-Home”), the Company has completed the acquisition of majority ownership of Zhongrun (Fujian) Pharmaceutical Co., Ltd. (“Zhongrun”), a leading medicine and personal care products operator in China. Pursuant to the Agreement, Hong Kong E-Home will acquire 55% of equity interests in Zhongrun. Upon completion of the transaction, Hong Kong E-Home has the right to appoint at two-thirds of members of the board of directors of Zhongrun, including its executive director. Founded in 2017 with RMB 100 million registered capital, Zhongrun operates as a drug wholesaler and logistics distributor specializing in all kinds of traditional (patent) Chinese medicines, antibiotics, dietary supplements and medical devices. Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: “This is a big moment for our Company and Zhongrun. Zhongrun has already established itself as one of the top medicine distributors in China with a loyal customer base. We couldn't be more excited to bring them into our portfolio of world-class household service ecosystem. We look forward to improving upon Zhongrun’s already strong results and expand our extensive and exclusive household services and other benefits to our customers and shareholders. It also represents E-Home's official entry into the pharmaceutical and health industry, which is currently under a strong development trend. We believe that our participation and integration with Zhongrun will bring better performance and development for E-Home in the short future.” 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家快服\", provides integrated household services, including 1) installation and maintenance of home appliances and smart homes; 2) Housekeeping, nanny, sister-in-law and cleaning services; 3) Internet elderly care + home-based elderly care; 4) Hospital care; 5) Nanny delivery platform. After years of development, the ...