E-Home To Acquire 51% Equity Interests Of Sijie Cleaning For Undisclosed Sum

• E-Home Household Service Holdings Ltd's (NASDAQ: EJH) affiliated variable interest entity, Pingtan Comprehensive Experimental Area E Home Service Co., Ltd., has agreed to acquire 51% equity interests of Fuzhou Sijie Cleaning Service Co., Ltd. in cash. The financial terms were not disclosed.

• Sijie Cleaning is an integrated and professional cleaning company that mainly provides cleaning services, environmental testing, formaldehyde treatment, and indoor and outdoor wall cleaning.

• E-Home expects the acquisition to expand its household cleaning business to the public places cleaning market and improve cleaning business service capacities and scopes.

• Sijie Cleaning owns a one-stop home cleaning training base and a home cleaning flagship store, providing leather care, dry cleaning, curtain cleaning, and other services.

• E-Home Household held cash and cash equivalents of $43.52 million as of December 30, 2020.

• Price Action: EJH shares are trading lower by 1.74% at $2.82 on the last check on Wednesday.

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