E-Home Household Services Holdings Limited's subsidiary Zhongrun Pharmaceutical and New Zealand's NBL Pharmaceuticals Sign Cooperation Agreement to Expand International Markets

Rhea-AI Summary

E-Home Household Services Holdings (NASDAQ:EJH) announced that its subsidiary, Zhongrun (Fujian) Pharmaceutical Co., , plans to merge with New Zealand's NBL Pharmaceuticals in December 2024. Prior to the merger, the companies have signed a cooperation agreement to expand into overseas markets and enhance overall competitiveness. NBL Pharmaceuticals, located in Auckland, operates advanced automated production lines compliant with international ISO, New Zealand GMP, and GB standards. The facility covers over 5,000 square meters, including a 2,200 square meter purification workshop.

This strategic move aligns with E-Home's international expansion plans, aiming to create a scaled healthcare drug portfolio and leverage complementary Chinese and international resources. The partnership is expected to enhance E-Home's global presence, improve product quality, and strengthen its brand influence in the pharmaceutical sector.

Positive

• Planned merger with NBL Pharmaceuticals, expanding EJH's international presence
• Access to advanced production facilities compliant with international standards
• Potential for scaled healthcare drug portfolio and synergies between Chinese and international resources
• Strategic alignment with company's long-term internationalization plans

Negative

• None.

FUZHOU, China, Sept. 12, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, announced today that after the detailed business and market due diligence conducted by the Company and the detailed business and market due diligence conducted by New Zealand's NBL Pharmaceuticals (New Zealand) Limited ("NBL Corp.") from February 2024 to the present, the Company's subsidiary, Zhongrun (Fujian) Pharmaceutical Co., Ltd. intends to merge with NBL Pharmaceuticals of New Zealand in December this year, and the two parties have signed a cooperation agreement to expand the overseas market and improve the overall competitiveness of the Company before the formal merger is completed.

NBL Pharmaceuticals (New Zealand) Limited is located in Auckland, New Zealand, with advanced fully automated production lines. In order to meet the clean requirements of different production workshops, and to ensure the low temperature and low humidity requirements of special production processes, all the workshops comply with the dust-free standards of international ISO, New Zealand GMP, GB, and the GMP level 100,000 class dust-free workshop, which is in line with the international GMP standards for the construction of the workshop, with the total area of the factory covering more than 5,000 square meters, and the area of purification workshop exceeding more than 2,200 square meters. The three main production workshops are equipped with independent purification air-conditioning system, 10 sets of independent HVAC system, mainly producing powder and softgel capsules of fish oil, vitamins, anti-aging and other health care drugs.

Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: "The signing of the cooperation agreement between E-Home's subsidiary, Zhongrun (Fujian) Pharmaceutical Co., Ltd. and NBL Pharmaceuticals (New Zealand) Limited is the result of E-Home's response to the company's overseas strategic layout based on the company's strategic development needs. layout, bringing numerous business opportunities for the company and further deepening the exchange and cooperation with overseas markets. The combination of Zhongrun (Fujian) Pharmaceutical Co., Ltd. and NBL Corp. can create a scaled healthcare drug portfolio and fist products, building a good complementary and synergistic advantage of Chinese and international resources. After half a year of market research, the company signed a cooperation agreement with NBL Corp. of New Zealand. The signing of this agreement is an important decision in the development of the company, which is in line with the company's long-term planning and internationalization strategy layout needs, and is conducive to help the company establish a wider range of partnerships globally and enhance the influence of the company's brand. In the future, the Company will continue to maintain joint development with global partners, provide better quality products and services for global users, and fully promote the implementation of this strategic decision."

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) Cleaning of public establishments.

After years of development, the Company has formed two main services and two auxiliary services targeting at individual consumers (ToC) and business clients (ToB), with two important subsidiaries. 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. 2) The ToB business focuses on public cleaning and cleaning robotic equipment. In addition, we have two subsidiaries: 1. Zhongrun Pharmaceutical, which integrates pharmaceutical warehousing, distribution, wholesaling, retailing and online sales; 2. Chuang Ying Business School: corporate president class training, in-house training, business consulting and counseling, and policy counseling.

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.

View original content:https://www.prnewswire.com/news-releases/e-home-household-services-holdings-limiteds-subsidiary-zhongrun-pharmaceutical-and-new-zealands-nbl-pharmaceuticals-sign-cooperation-agreement-to-expand-international-markets-302246268.html

SOURCE E-Home Household Service Holdings Limited

FAQ

When is E-Home Household Services Holdings (EJH) planning to merge with NBL Pharmaceuticals?

E-Home's subsidiary, Zhongrun (Fujian) Pharmaceutical Co., , plans to merge with NBL Pharmaceuticals in December 2024.

What is the purpose of the cooperation agreement between EJH's subsidiary and NBL Pharmaceuticals?

The cooperation agreement aims to expand overseas markets and improve overall competitiveness before the formal merger is completed.

Where is NBL Pharmaceuticals located and what are its production capabilities?

NBL Pharmaceuticals is located in Auckland, New Zealand, with advanced automated production lines covering over 5,000 square meters, including a 2,200 square meter purification workshop compliant with international standards.

How does the partnership with NBL Pharmaceuticals align with EJH's strategic goals?

The partnership aligns with E-Home's international expansion strategy, aiming to create a scaled healthcare drug portfolio and leverage complementary Chinese and international resources to enhance global presence and brand influence.