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]

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]