FUZHOU, China, April 11, 2022 (World NEWSWIRE) — E-House Residence Assistance Holdings Minimal (Nasdaq: EJH) (the “Firm” or “E-Dwelling”), a company of built-in family services in China, today declared that the Organization, by means of its controlled subsidiary E-House Residence Service Holdings Constrained, has entered into a Memorandum of Being familiar with (“MoU”) to examine the acquisition of Zhongrun (Fujian) Pharmaceutical Co., Ltd. (“Zhongrun”), a major medication and particular care solutions operator in China. E-Property expects the acquisition could be concluded within the following two thirty day period.
Pursuant to the MoU, Zhongrun is engaged in 1) Drug progress: research and enhancement of new medications, pharmaceutical excipients, medical devices, overall health health supplements, and consultation companies. 2) Drug gross sales: new and special drug types, concentrated drug decoction parts, proprietary Chinese classic medications, chemical pharmaceutical preparations, antibiotic APIs, antibiotic preparations, biological goods, etc. 3) Clinical products: Class I health care products, washing and nursing provides. 4) Special meals: Prepackaged foodstuff, special meals (infant formula food items, infant formula milk powder, components food items for special health care intent, overall health foods) for which Zhongrun has innovative place of work, storage and logistics self-distribution procedure.
Zhongrun also has terrific client base that ranges from general public and personal hospitals, county-stage overall health facilities, clinics and pharmacy chains. It operates through the two on line and offline revenue to provide the focus on clients, and has attained an once-a-year income of above RMB 100 million yuan, in accordance to the MoU.
Mr. Wenshan Xie, Chairman and CEO of E-Household, commented: “We glimpse ahead to welcoming Zhongrun to E-House and becoming a member of our latest domestic companies network in China, as medicine, clinical care, and nursing provides are turning out to be aspect of the significant well being business and are also necessities of home life. The pharmaceutical field has come to be the concentration of opposition amid economic powers. Lots of countries regard the establishment of the pharmaceutical market as a image of nationwide prosperity. In this period, the pharmaceutical business will create extra steadily, with each other with Zhongrun we can convey healthy food stuff and nursing materials by door-to-doorway company by using our current household services network in China, which is also an effective strategy for us to broaden our existing current market share and services capabilities in China. Getting into the big overall health marketplace as a result of Zhongrun acquisition, we could also provide drugs and health and fitness nutritional supplements to the international market place from Hong Kong.”
“E-Dwelling and Zhongrun share a powerful motivation to equivalent core values, which will make Zhongrun a all-natural suit for us. This mix will final result in elevated consumer fulfillment with our core residence company choices and a lot more prospects for all our firms as we seek to automate and digitalize services through our metaverse initiatives.”
About Zhongrun (Fujian) Pharmaceutical Co., Ltd.
Established in 2017 with RMB 100 million registered funds, Zhongrun (Fujian) Pharmaceutical Co., Ltd. operates as a drug wholesaler and logistics distributor specializing in all kinds of standard (patent) Chinese medications, antibiotics. It also trades prepackaged food stuff and infant components/method milk powder goods and other wellbeing health supplements, particular treatment this kind of as washing goods across China.
About E-House Home Provider Holdings Restricted
E-Property House Services Holdings Limited is a home assistance corporation based in Fuzhou, China. The Enterprise, by means of its internet site and WeChat system “e家快服”, gives integrated household companies, such as equipment set up and upkeep, housekeeping services, and Online dependent home and senior treatment. For additional information and facts, pay a visit to the Company’s web page at http://www.ej111.com/ir.html.
All statements other than statements of historic fact in this announcement are forward-wanting statements in mother nature within just the meaning of the Private Securities Litigation Reform Act of 1995. These forward-hunting statements include acknowledged and mysterious dangers and uncertainties and are based mostly on existing expectations and projections about upcoming functions and financial traits that the Business thinks may perhaps affect its economic situation, success of functions, organization method and economic requirements. Terms or phrases this kind of as “may possibly,” “will,” “expect,” “foresee,” “aim,” “estimate,” “intend,” “plan,” “think,” “potential,” “continue,” “is/are very likely to” or other very similar expressions are meant to establish these types of ahead-wanting statements. The Company undertakes no obligation to update forward-hunting statements to replicate subsequent occurring occasions or situation, or alterations in its expectations, except as may be necessary by law. Though the Corporation thinks that the anticipations expressed in these ahead-wanting statements are fair, it cannot guarantee you that such anticipations will switch out to be right, and the Firm cautions buyers that real outcomes could vary materially from the expected final results and encourages investors to consider chance variables, including individuals described in the Company’s filings with the SEC, that could have an impact on the Firm’s future benefits. All forward-hunting statements attributable to the Organization and its subsidiaries or individuals acting on their behalf are expressly experienced in their entirety by these possibility aspects.
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