Business
E-Home Household Services Holdings Limited Announces Strategic Business Plan and Partnership with China Top Traditional Chinese Medicine Company Zhejiang Huisong Pharmaceutical Co. Ltd.
FUZHOU, China, Oct. 21, 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, Oct. 21, 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’s subsidiary Zhongrun (Fujian) Pharmaceutical Co., Ltd. (“Zhongrun”) has outlined new strategic business plan to expand market coverage and medical product offerings via online and offline sales networks in Fujian province, China. Zhongrun also reached partnership with top traditional Chinese medicine (“TCM”) company Zhejiang Huisong Pharmaceutical Co. Ltd. (“Huisong”). Pursuant to the business plan, Zhongrun will expand from the existing pharmaceutical wholesale business to the retail market through both offline and online sales channels. Zhongrun will initiate in-depth cooperation with offline pharmaceutical chain stores and with major online pharmaceutical e-commerce platforms. At the same time, Zhongrun also plans to enter into the upstream production and processing business of pharmaceuticals, healthcare products and devices, to build up its own brand or original equipment manufacturer (OEM) model. Pursuant to the partnership with Huisong, Zhongrun will help supply and distribute epidemic prevention and influenza drugs such as herba houttuyniae electuaries in China Fujian province produced by Huisong, one of the top 10 TCM exporters in China. The partnership is expected to generate annual sales of about RMB 20 million. Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: “Our new attempt to enter into the upstream processing and manufacturing industries of pharmaceuticals and healthcare products industry chain will also help the Company to further improve its profitability amid the Covid-19 epidemic and the upcoming influenza season. In addition to the new revenue stream from partnership with Huisong, we also expect that the newly launched pharmaceutical e-commerce cooperation project to generate additional sales of about RMB20 million in the next 12 months. We are thrilled to announce partnership with China’s top TCM company Huisong to jointly develop our businesses in Fujian, which is another recognition to our strong local sales network and business operation.” About E-Home Household Service Holdings Limited Established in 2014, E-Home Household Service Holdings Limited is a Nasdaq-listed household se...