FUZHOU, China, May 1, 2024 /PRNewswire/ -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the "Company" or "E-Home"), a provider of integrated household services in China, today announced its financial results for the six months ended December 31, 2023. Financial Highlight Total revenues were $26.95 million for the six months ended December 31, 2023. Overall gross profit margin still reached 24.4%, but net profit decreased due to increased expenditure on brand promotion and advertising. Net asset ...

FUZHOU, China, March 22, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, the Company today announced that the company's first AI intelligent domestic customer service is officially online. AI intelligent domestic customer service through the conduct of role settings, knowledge base training, etc., while complementing the AI intelligent dialogue, and can be set up for a variety of AI scenarios, to achieve ...

FUZHOU, China, March 1, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, the Company today announced that the Company signed a strategic cooperation agreement with Touch (Fujian) Digital Technology Co. The two companies are cooperating in the areas of secure cloud storage of enterprise-grade unstructured data assets, enterprise AI brain based on enterprise-grade knowledge base training, AI housekeeping int ...

FUZHOU, China, Feb. 9, 2024 /PRNewswire/ -- E-Home Household Service Holdings Limited (Nasdaq: EJH) (the "Company" or "E-Home"), a provider of integrated household services in China, today announced that at an extraordinary general meeting of the Company held on February 6, 2024, at 10:00 a.m., local time, at E-Home, 18/F, East Tower, Building B, Dongbai Center, Yangqiao Road, Gulou District, Fuzhou City 350001, China (the "Meeting"), its shareholders approved resolutions that would result in a share consol ...

FUZHOU, China, Feb. 8, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, announced that its subsidiary, Zhongrun (Fujian) Pharmaceutical Co., Ltd, intends to acquire NBL (New Zealand) Limited ("NBL Company"). NBL (New Zealand) Limited has advanced fully automatic production lines, and three main production workshops equipped with independent purification and air-conditioning systems, 10 sets of independent ...

FUZHOU, China, Jan. 10, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, the Company today announced that that at the beginning of 2024, the Company signed new community cleaning and care contracts with Shibang Taihe Property and Jinhui Property for nearly 20 projects in Fujian Province, including "Xiamen Leader City", "Quanzhou Zhongjun Plaza", "Fuzhou Rhinoceros City", "Fuzhou Earl's Hill", "Fuzhou Jinhu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of Each Class Trading Symbol(s) Name of Each Exchange On Which Registered Ordinary Shares, par value $0.2 per share EJH NASDAQ Capital Market FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d ...

Revenue and Profitability - Total revenues for the six months ended December 31, 2022, were $38,876,968, compared to $34,079,482 in the same period of 2021, representing a 14.1% increase[8] - Gross profit for the six months ended December 31, 2022, was $11,138,086, compared to $10,671,403 in the same period of 2021, reflecting a 4.4% increase[8] - Net loss for the six months ended December 31, 2022, was $3,316,128, compared to a net loss of $606,134 in the same period of 2021[8] - Net loss for the six months ended December 31, 2022 was $3,316,128, compared to $606,134 in the same period of 2021[15] Cash and Cash Equivalents - Cash and cash equivalents increased to $62,470,005 as of December 31, 2022, from $54,842,052 as of June 30, 2022, reflecting a 13.9% increase[5] - Cash and cash equivalents at the end of the period December 31, 2022 was $62,470,005, compared to $59,321,982 at the end of the same period in 2021[15] - RMB-denominated cash and cash equivalents amounted to $62,458,602 as of December 31, 2022, and $53,946,205 as of June 30, 2022[100] - Cash and cash equivalents include cash on hand, interest-bearing savings accounts, and time certificates of deposit with a maturity of three months or less[34] Accounts Receivable and Loan Receivables - Accounts receivable, net, increased to $2,099,251 as of December 31, 2022, from $877,931 as of June 30, 2022, representing a 139.2% increase[5] - Accounts receivable were deemed fully collectible with an allowance for doubtful accounts of $0 as of December 31, 2022, and June 30, 2022[35] - Loan receivables were also fully collectible with an allowance for doubtful loan receivables of $0 as of December 31, 2022, and June 30, 2022[36] - Loan receivables totaled $5,181,680 as of December 31, 2022, with $3,931,680 due from Jianping Guo and $1,250,000 from Yuwin Group Limited[128] Assets and Liabilities - Total current assets increased to $76,301,154 as of December 31, 2022, from $66,996,451 as of June 30, 2022, reflecting a 13.9% increase[5] - Total liabilities increased to $21,839,679 as of December 31, 2022, from $15,962,425 as of June 30, 2022, representing a 36.8% increase[5] - Total shareholders' equity increased to $88,459,376 as of December 31, 2022, from $64,529,884 as of June 30, 2022, reflecting a 37.1% increase[5] - The company's total assets as of December 31, 2022 were $88,459,376, compared to $86,332,791 at the beginning of the period[12] Expenses and Costs - Sales and marketing expenses increased to $8,340,234 for the six months ended December 31, 2022, from $4,357,836 in the same period of 2021, representing a 91.4% increase[8] - The company's equity incentive plan expense for the six months ended December 31, 2022 was $106,000[15] - Amortization expense for the years 2023 to 2027 is projected to be $1,465,813 annually, with a slight decrease to $1,455,549 in 2027[139] - Amortization of issuance costs, debt discount, and interest costs for the six months ended December 31, 2022, totaled $995,753, with $641,576 attributed to issuance costs and discount, and $354,177 to convertible note interest[192] Acquisitions and Business Combinations - The company acquired 75% ownership in Zhongrun, 60% ownership in Youyou, and 100% ownership in Chuangying during the six months ended December 31, 2022[10][11] - The company completed several business combinations with a total purchase consideration of $19,948,542, allocating $11,223,456 to goodwill for the six months ended December 31, 2022[111] - The company acquired 75% ownership in Zhongrun and 60% ownership in Youyou, with total consideration of $2,574,424 and recognized goodwill of $2,376,589[110] - The company acquired 100% ownership in Chuangying, with total consideration of $11,781,069 and recognized goodwill of $5,312,774[113] - The company's acquisitions are expected to achieve significant synergies and complement existing businesses[111] Leases and Right-of-Use Assets - Operating lease right-of-use assets, net increased from $6,050,465 in June 2022 to $6,150,306 in December 2022, with a total right-of-use assets at cost of $7,429,678[141] - The company acquired the right of use for farmland of 74 acres for $2,319,791 (RMB 15,000,000) in July 2021[141] - The weighted average discount rate used for operating leases was 4.06%, with a weighted average remaining lease term of 16.00 years[158] - Total undiscounted cash flows for operating leases as of June 30, 2022 amounted to $2,618,326, with Villas contributing $1,641,803, Base station tower $172,302, and Warehouse $804,221[164] - Total financing lease liabilities as of June 30, 2022 were $2,121,053, with Villas at $1,212,882, Base station tower at $155,261, and Warehouse at $752,910[164] - Total undiscounted cash flows for operating leases as of December 31, 2022 were $2,760,034, with Villas contributing $2,441,294, Base station tower $208,600, and Office $110,140[165] - Total financing lease liabilities as of December 31, 2022 were $2,251,835, with Villas at $1,956,260, Base station tower at $188,069, and Office at $107,506[165] Convertible Notes and Warrants - The Convertible Note 2021 has an original principal amount of $5,275,000, including an original issue discount of $250,000 and investor's legal costs of $25,000[173] - The Convertible Note 2022 has an original principal amount of $3,170,000, including an original issue discount of $150,000 and investor's legal costs of $20,000[182] - The company issued warrants to purchase up to 157,934 ordinary shares at $2.00 per share as part of the Convertible Note 2021 agreement[176] - The company issued warrants to purchase up to 386,585 ordinary shares at $0.49 per share as part of the Convertible Note 2022 agreement[185] - The equity component of the Convertible Note 2022 and warrants was valued at $816,765, with the equity component at $683,393 and warrants at $133,372[188] - The net carrying amount of the liability portion of the Convertible Notes as of December 31, 2022, was $4,628,249, with a principal outstanding of $5,796,148 and unamortized issuance costs of $1,167,899[190] - The net carrying amount of the equity component of the Convertible Notes as of December 31, 2022, was $1,472,987, with an allocated conversion option of $1,775,853 and issuance costs of $302,866[191] - The company issued warrants for 157,934 ordinary shares at $2 per share and 386,585 ordinary shares at $0.49 per share, exercisable within five years[195] - As of December 31, 2022, the company had 544,529 warrants outstanding with an average exercise price between $0.49 and $2[196] - The 2021 warrants were valued using the Black-Scholes model with a volatility of 117%, risk-free interest rate of 2.04%, and an expected term of 5 years[196] - The 2022 warrants were valued using the Black-Scholes model with a volatility of 129%, risk-free interest rate of 0.27%, and an expected term of 5 years[196] Intangible Assets and Goodwill - Intangible assets, including software and customer relationships, are amortized over 5 to 10 years[45] - Goodwill was assessed for impairment, and no further testing was required as of December 31, 2022[48] - Intangible assets - customer relationships valued at $1,426,798 with a useful life of ten years[137] - Intangible assets - copyrights and trademarks valued at $242,556 with a useful life of five years[137] - Goodwill recorded at $3,534,093[115] - Intangible assets, net increased significantly from $23,963 in June 2022 to $7,330,138 in December 2022, primarily due to customer relationships valued at $7,748,590[133] Other Financial Information - The company received government subsidies of $43,616 for the six months ended December 31, 2022, compared to $0 in the same period in 2021[84] - The company's financial instruments are subject to concentration of credit risks, primarily consisting of cash, cash equivalents, and accounts receivable[102] - The company is registered in the Cayman Islands and is not subject to tax on income or capital gain, with no withholding tax on dividend payments[198] - The company's financial statements are reported in USD, with RMB as the functional currency, and translation adjustments are included in accumulated other comprehensive (loss) income[92] - Comprehensive (loss) income includes foreign currency translation adjustments, reported in the consolidated statements of operations and other comprehensive (loss) income[91] Revenue Recognition - Revenue from installation and maintenance services is recognized at a point in time once the service is transferred to the customer[71] - Senior care services revenue is allocated between the sale of E-watches and care services, with E-watch revenue recognized at a point in time and care service revenue recognized over the service period[75][77] - Revenue from pharmaceutical products is recognized when control of the product is transferred to the customer, typically at delivery[78][82] - The company's standard payment terms are less than one year, and it does not assess contracts for significant financing components[82] Cash Flows - Net cash provided by operating activities for the six months ended December 31, 2022 was $3,805,834, compared to $1,784,209 in the same period of 2021[15] - Net cash used in investing activities for the six months ended December 31, 2022 was $3,468,043, compared to $121,856 in the same period of 2021[15] - Net cash provided by financing activities for the six months ended December 31, 2022 was $9,167,098, compared to $4,607,080 in the same period of 2021[15] Other Operational Information - The company completed a one-for-twenty reverse stock split on October 4, 2022, reducing the number of ordinary shares outstanding from 121,270,556 to 6,062,762[25] - The company acquired the remaining 33% equity interests of Fujian Happiness Yijia Family Service Co., Ltd. (HAPPY) for $466,889, making it a wholly owned subsidiary[22] - The company's VIE structure was dissolved on October 27, 2021, with E-Home Pingtan and Fuzhou Bangchang becoming wholly owned indirect subsidiaries[21] - The company operates in five segments: installation & maintenance, housekeeping, senior care services, sales of pharmaceutical products, and educational consulting services[96] - The company divested its ownership in Fuzhou Fumao, reducing it from 67% to 20% in September 2021, and fully transferred its 20% ownership in December 2022, recording a receivable amount of $861,500[140]