FUZHOU, China, Dec. 24, 2024 /PRNewswire/ -- E-Home Household Service Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, announced today that it has introduced AI robotic automatic cleaning equipment for public place cleaning projects commissioned by e-Home to realise intelligent cleaning services in public places. With the growing demand for domestic services in society, how to improve the quality of service and optimise the allocation of human resource ...

FUZHOU, China, Oct. 30, 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 annual report ended June 30, 2024. Financial Highlight Total revenues were $50,685,314 for the year ended June 30, 2024. Cash and cash equivalents were $100,665,223 and $71,252,380 as of June 30, 2024 and June 30, 2023, respectively. Gross profits were $12,700,596. Total operating expenses were $28,786,296. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 ...

FUZHOU, China, Oct. 23, 2024 /PRNewswire/ -- E-Home Household Service Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, announced today that e-home's AI Home Trainer has gone live.At present, the biggest pain point of domestic service is the uneven quality of service personnel, lack of training as well as boring training, some service personnel in the process of operation is not standardised. Domestic service personnel are mainly divided into maintenanc ...

FUZHOU, China, Oct. 18, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, announced that E-Home established a new Resource Recycling Department.E-Home has decided to set up the Resource Recycling Department in response to the current national policy guidance coupled with the advantages of its own business. It recovers used home appliances, unused and old materials and waste classification and recycling busi ...

FUZHOU, China, Oct. 9, 2024 /PRNewswire/ -- E-Home Household Services Holdings Limited (NASDAQ:EJH) (the "Company" or "eHome"), an integrated home services provider in China, announced today that it intends to merge and acquire Fuzhou Yunding Mutual Chain Information Technology Company Limited (hereinafter referred to as "Fuzhou Yunding").Fuzhou Yunding is a comprehensive Internet of Things information platform company mainly focusing on AI access control system + intelligent community services, and has obt ...

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 ...

FUZHOU, China, June 17, 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 second generation of AI intelligent housekeeping customer service was officially launched. eJia AI intelligent housekeeping customer service second generation, upgraded on the basis of the first generation, new automated task processing, data analysis and decision support and other functi ...

FUZHOU, China, June 5, 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 May 31, 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 have approved a share consolidation of the Company's issued ...

Financial Performance - Total revenues for the six months ended December 31, 2023, were $26,947,183, a decrease from $38,876,968 in the same period in 2022[8] - Net loss for the six months ended December 31, 2023, was $5,193,493, compared to a net loss of $3,316,128 in the same period in 2022[8] - Gross profit for the six months ended December 31, 2023, was $6,575,189, down from $11,138,086 in the same period in 2022[8] - Loss from operations for the six months ended December 31, 2023, was $4,311,584, compared to a loss of $562,094 in the same period in 2022[8] - Total comprehensive loss for the six months ended December 31, 2023, was $4,505,504, compared to $5,447,621 in the same period in 2022[8] - Net loss for the six months ended December 31, 2023 was $5,193,493, compared to $3,316,128 in the same period of 2022[20] - Net cash provided by operating activities for the six months ended December 31, 2023 was $1,381,424, compared to $3,805,834 in the same period of 2022[20] - Net cash used in investing activities for the six months ended December 31, 2023 was $10,688,160, compared to $3,468,043 in the same period of 2022[20] - Net cash provided by financing activities for the six months ended December 31, 2023 was $11,822,082, compared to $9,167,098 in the same period of 2022[20] - Government subsidies received for the six months ended December 31, 2022 were $43,616, compared to $Nil for the same period in 2023[91] Cash and Cash Equivalents - Cash and cash equivalents increased to $74,325,312 as of December 31, 2023, from $71,252,380 as of June 30, 2023[6] - Cash and cash equivalents at the end of the period December 31, 2023 was $74,325,312, compared to $62,470,005 at the end of the same period in 2022[20] - RMB denominated cash and cash equivalents amounted to $74,304,547 as of December 31, 2023, up from $71,240,361 as of June 30, 2023[108] Assets and Liabilities - Total current assets increased to $93,409,506 as of December 31, 2023, from $84,031,236 as of June 30, 2023[6] - Total liabilities decreased to $15,151,939 as of December 31, 2023, from $20,447,001 as of June 30, 2023[6] - Accounts receivable decreased from $1,018,691 as of June 30, 2023 to $697,359 as of December 31, 2023, with $84,600 collected by April 30, 2024, representing 12% of the December 31, 2023 balance[127] - Prepayments, receivables, and other current assets totaled $2,164,434 as of December 31, 2023, down from $6,217,196 as of June 30, 2023[129] - Property, plant, and equipment net value was $4,626,725 as of December 31, 2023, with depreciation expenses of $219,759 for the six months ended December 31, 2023[134] - Intangible assets net value was $13,942 as of December 31, 2023, with amortization expense of $17,872 for the six months ended December 31, 2023[137] - Total right-of-use assets increased from $7,161,109 as of June 30, 2023 to $7,305,792 as of December 31, 2023, reflecting an increase of $144,683[144] - Operating lease right-of-use assets decreased by $338,846 from $5,634,302 as of June 30, 2023 to $5,446,285 as of December 31, 2023[144] - Finance lease right-of-use assets decreased by $882,069 from $871,876 as of June 30, 2023 to $0 as of December 31, 2023 due to the termination of vehicle lease agreements[149] - Long-term deposits and other non-current assets decreased from $62,874,337 as of June 30, 2023 to $60,768,022 as of December 31, 2023, primarily due to the return of performance deposits[150] - Accounts payable and accrued expenses decreased from $7,290,320 as of June 30, 2023 to $5,324,345 as of December 31, 2023, driven by reductions in supplier payables and accrued expenses[151] - Advances from customers decreased from $2,123,540 as of June 30, 2023 to $1,532,624 as of December 31, 2023, with senior care services accounting for the majority of the decrease[154] - Operating lease liabilities decreased from $1,952,746 as of June 30, 2023 to $1,896,477 as of December 31, 2023, with the weighted average discount rate at 3.79%[156][157] - Financing lease liabilities decreased by $344,585 from June 30, 2023, to December 31, 2023, resulting in a total of $0 as of December 31, 2023[165][166] Revenue Recognition - Revenue from installation and maintenance services is recognized at a point in time, with multiple performance obligations allocated based on standalone selling prices[77] - Housekeeping services revenue is recognized at a point in time upon completion of services, with the company acting as a principal[80] - Senior care services revenue is split between the sale of E-watches (recognized at a point in time) and care services (recognized over the service period)[81] - Revenue from pharmaceutical products is recognized when control of the product is transferred to the customer, typically at delivery[88] - Educational consulting services revenue is recognized at a point in time upon completion of services, with the company acting as a principal[89] Business Combinations and Acquisitions - The company acquired 100% equity interest in HAPPY for $466,888 in August 2021[27] - The company completed several business combinations in the year ended June 30, 2023 with total purchase consideration of $17,374,118, of which $8,846,867 was allocated to goodwill[121] - The fair value of total consideration transferred for acquisitions was $11,781,069, including $11,350,319 in equity instruments and $430,750 in cash[123] - Intangible assets acquired include customer relationships valued at $6,321,792 and goodwill of $5,312,774, with an impairment loss of $5,312,774[123] - Goodwill from business combinations amounted to $8,846,867 as of June 30, 2023, with total purchase consideration of $17,374,118[150] Convertible Notes and Warrants - The company's convertible notes balance as of December 31, 2023 was $148,261,367[16] - The company's convertible notes are accounted for by separating the liability and equity components, with the equity component reflected in additional paid-in capital and the debt discount amortized as non-cash interest expense[62] - Warrants issued with debt are classified as freestanding instruments and valued using the Black-Scholes Option Pricing Model, with no subsequent remeasurement required[64][65][66] - The company did not identify any derivative treatment in its convertible notes issued during the reporting period[68] - The Convertible Note 2021 had an original principal amount of $5,275,000, with an 8% annual interest rate and a two-year maturity[170] - The Convertible Note 2021 was fully repaid and converted on November 10, 2023, with $1,680,679 worth of ordinary shares issued for principal and interest settlement[175] - The Convertible Note 2022 has an original principal amount of $3,170,000, with an 8% annual interest rate and a two-year maturity[176] - The equity component of the Convertible Note 2022 is $683,393, with warrants valued at $133,372[177] - The Company issued 5,263,835 ordinary shares for principal and interest partial settlement of the Convertible Note 2021 during the six months ended December 31, 2023[175] - The company issued 555,629 ordinary shares with a fair value of $1,800,000 for partial settlement of the Convertible Note 2022[179] - The net carrying amount of the liability component of Convertible Note 2022 as of December 31, 2023 was $1,456,480[180] - The net carrying amount of the equity component of Convertible Notes as of December 31, 2023 was $1,472,987[181] - Amortization of issuance cost, debt discount, and interest cost for the six months ended December 31, 2023 totaled $993,704[182] - The effective interest rates for Convertible Note 2021 and 2022 were 33.10% and 34.51%, respectively[187] - The company had 55 warrants outstanding as of December 31, 2023, with an average exercise price between $0.49 and $2[191] - The 2021 warrants were valued using a volatility of 117% and a risk-free interest rate of 2.04%[191] - The 2022 warrants were valued using a volatility of 129% and a risk-free interest rate of 0.27%[192] Foreign Currency and Tax - Foreign currency translation adjustment for the six months ended December 31, 2023, resulted in a gain of $687,989[8] - The company's Chinese subsidiaries are exposed to foreign currency risks, with all operating activities transacted in RMB which is not freely convertible[108][109] - The company is not subject to income or capital gains tax in the Cayman Islands[194] - The provision for income tax for the six months ended December 31, 2023 was $0[198] Stock Splits and Share Issuance - The company completed a one-for-twenty reverse stock split on September 23, 2022, a one-for-ten reverse stock split on April 13, 2023, a one-for-ten reverse stock split on September 25, 2023, and a one-for-five reverse stock split on February 14, 2024[31][32][33][34] - Shares issued to investors during the six months ended December 31, 2023, amounted to $12,001,420[14] - The potentially dilutive ordinary shares for the six months ended December 31, 2023 was 55 shares, with no potentially dilutive shares in the same period of 2022[96] Operating Segments - The company launched senior care services in August 2019 and acquired sales of pharmaceutical products and educational consulting services segments in July 2023[104] - The company's five operating segments are installation & maintenance, housekeeping, senior care services, sales of pharmaceutical products, and educational consulting services[104] - The company expects to achieve significant synergies from its recent acquisitions which it plans to complement its existing businesses[121] Accounting Standards and Policies - The company adopted ASC 842, which requires recognition of a right-of-use asset and lease liability for all leases with terms of more than 12 months, effective from the beginning of the first period presented[61] - The company does not expect recently issued accounting standards to have a material impact on its financial position, results of operations and cash flows[115][116][117][118] - The fair value of financial instruments is determined using a three-level hierarchy, with Level 1 being quoted prices in active markets for identical assets and liabilities[70][72] - Property, plant, and equipment are depreciated using the straight-line method, with useful lives ranging from 3 to 20 years depending on the asset type[49] - Intangible assets with finite lives, such as software and customer relationships, are amortized on a straight-line basis over estimated useful lives of five to ten years[51] - The company assesses goodwill for impairment annually and more frequently upon certain events, using both qualitative and quantitative assessments[52][53] - Long-lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable[57] - The company recorded customer relationships of $1,426,798 with a useful life of ten years and copyrights and trademarks of $242,556 with a useful life of five years as intangible assets[140] - Estimated future amortization expense for intangible assets is $13,942 for the year ending December 31, 2024[142] - Amortization of operating lease right-of-use assets for the six months ended December 31, 2023 amounted to $304,163, with interest on lease liabilities at $34,683[146] - Total undiscounted cash flows for operating lease liabilities as of December 31, 2023 amounted to $2,303,529, with a difference of $407,052 between undiscounted and discounted cash flows[162] - Total undiscounted cash flows for operating leases amount to $2,390,797, with Villas contributing $1,582,455, station tower $166,074, and Warehouse $642,268[163] - Total operating lease liabilities are $1,952,746, with Villas at $1,192,898, station tower at $151,978, and Warehouse at $607,870[163] - The difference between undiscounted and discounted cash flows for operating leases is $438,051[163] Allowances and Impairments - As of December 31, 2023, and June 30, 2023, the company determined that all accounts receivable were collectible, with an allowance for doubtful accounts of $Nil for both periods[43] - The allowance for advances to suppliers recognized as of December 31, 2023, and June 30, 2023, were $Nil and $Nil, respectively[44] - The allowance for prepayments, deposits, and other current assets recognized as of December 31, 2023, and June 30, 2023, were $Nil and $Nil, respectively[45] - For the six months ended December 31, 2023, and 2022, the company recorded no impairment provision of inventories for lower of cost or net realizable value[46] Miscellaneous - The company maintains most of its bank accounts in the PRC, and cash balances in these accounts are not insured by the Federal Deposit Insurance Corporation or other programs[42] - The Company terminated the vehicle lease agreement on July 1, 2023, resulting in no future financial lease liabilities as of December 31, 2023[166][167]