Business
E-Home Household Service Holdings Limited Enters into a Memorandum of Understanding to Wholly Acquire a Provider of New Energy Solutions
FUJIAN, China, Nov. 14, 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":"FUJIAN, China, Nov. 14, 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, the Company through its wholly-owned subsidiary E-Home Household Service Holdings Limited (Hong Kong) (the “E-Home Hong Kong”), has entered into a non-binding Memorandum of Understanding (the “MOU”) with Fujian Min High-tech Energy Technology Co., Ltd. (the “Min High-tech Energy”) to acquire 100% of the equity interest in Min High-tech Energy in cash and stock. Min High-tech Energy is a high-tech company mainly engaged in the investment, construction, and operation of integrated new energy projects, as well as providing energy efficiency management and electricity safety solutions throughout China. As a holding subsidiary of Fujian Mingao Electric Power Co., Ltd., Min High-tech Energy is a domestic company focusing on investment, construction, and operation of solar power, wind power and environmental protection (biomass) power generation, automobile charging stations, energy storage, integrated energy, and other projects, and is committed to provide energy efficiency management and electricity safety solutions for enterprise microgrids. Furthermore, Min High-tech Energy has a strategic cooperation agreement with the State Power Investment Group Corporation (the “SPIC”) to jointly invest and build new energy power stations across the country. Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: “We are excited to announce we entered into a MOU for the acquisition of Min High-tech Energy and begin this strategic initiative of expanding our business into the new energy field. Leveraging Min High-tech Energy’s technology and resources advantages, we will help more companies optimize their energy structure and cultivate new economic growth. At the same time, in line with the national industrial policies, and respond to the 14th Five-Year energy conservation and emission reduction goals, we will actively promote the clean and low-carbon development of the energy system. I do believe Min High-tech Energy can be the catalyst for our future growth and sustainable performance.” “Our goal is to actively explore markets, promote corporate image and improve service quality. We will continue to look for acquisition opportunities...