Business
E-Home Household Service Holdings Limited Starts Supplying Raw Ingredients for Traditional Chinese Medicine via Acquisition of Majority Stake in Zhongrun (Fujian) Pharmaceutical Co., Ltd.
FUZHOU, China, July 26, 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 26, 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 starts suppling raw ingredients for traditional Chinese medicine via acquisition of majority ownership in Zhongrun (Fujian) Pharmaceutical Co., Ltd. (“Zhongrun”). E-Home announced on July 22 that the Company has acquired 55% of equity interests in Zhongrun, which operates as a drug wholesaler and logistics distributor specializing in all kinds of traditional (patent) Chinese medicines, antibiotics, dietary supplements and medical devices. Zhongrun has entered and will seek to expand partnership with hospitals, clinics and drug stores in China to grow sales and also supply key herb ingredients for the production of specialized Chinese medicines that are rooted in ancient knowledge and principles. Some of the ingredients provided by Zhongrun have been used for thousands of years as key herbs in traditional Chinese medicine, which may have health effects, such as lowering blood pressure, alleviating cold and flu symptoms, reducing pain and enhancing immune system against contagious diseases. Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: “Chinese traditional medicine has a long history. With more Chinese people exploring new health trends, we believe traditional Chinese medicine products with health-preserving and healthcare effects have significant growing potential. The acquisition of Zhongrun gives E-Home opportunities to enter into the big health and Chinese medicinal products industry. We will leverage our advantages to provide our clients with effective and high-quality supply chain and healthcare services. Meanwhile the expanded sales of Chinese traditional medicine products will also help safeguard our Company’s business 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 ...