This Home Services Company Says It's On The Road To Recovering From Pandemic Shutdowns

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The COVID-19 pandemic may have slowed business for E-Home Household Services Holdings Ltd. EJH, but the company says it is on track to make up for the lost time.

While the company’s total revenue was down 22.7% to $34.08 million for the six months ended Dec. 31, its senior care services revenue increased by 70.42% to $4.09 million, up from 2.4 million for the same period the previous year. 

E-Home Chairman and CEO Wenshan Xie said the nationwide lockdown caused by COVID-19 adversely affected the company — particularly during September and October in Putian and other cities in the Fujian province where most of its business is based. 

“We remain confident in our ability to improve earnings going forward as not only our fundamentals remain strong, we are also implementing our expansionary strategic plans in big health and metaverse segments in order to hedge against the uncertainties around the pandemic and China’s strategy on COVID-19 containment,” Xie said when the company announced its half-year results.

With the pandemic hopefully subsiding, E-Home might be in a position to have a better 2022. The company’s revenue for the first quarter is more than $20 million and with the pandemic in Fujian contained, the company reported a promising outlook.

“As long as new COVID cases in the province remain under control, the company expects its business operation will also be back on track and deliver good performance in 2022,” he said.

Helping Hands

Through its website and WeChat platform, E-Home provides integrated household services, including installation and maintenance of appliances and smart homes, housekeeping services and senior care services. Some of its services are similar to those provided by Angi Inc. ANGI and Porch Group Inc. PRCH.

The company works on both the B2C and B2B sides, focusing on everything from cleaning electric power companies to electronic intelligence smartwatches that help nannies working at home. 

The company’s revenue for the first quarter 2022 is projected to be more than 80 million yuan ($12 million), and remains on a stable trend. The pandemic in Fujian has also been dynamically contained. As long as new COVID cases in the province remain under control, E-Home expects its business operation will also be back on track and deliver good performance in 2022.

In April, E-Home launched its Digital Human as a Service (DHaaS) platform that leverages front-end artificial intelligence technologies for sales and customer-facing services. DHaaS features a digital customer service guide named Xiao e, which is meant to provide seamless 24/7 assistance for household services in the metaverse virtual world. 

“Metaverse technologies will help E-Home stick to its long-time protocol of providing the best quality services for our customers,” Xie said at the time of the launch. “We are expecting that our new business initiatives in the metaverse and planned strategic acquisitions will help boost our business growth by nearly 30% for this year.”

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

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