E-Home up on New Contract

E-Home Household Service Holdings Limited (NASDAQ: EJH) shares eke up Friday, as the company, a provider of integrated household services in China, today announced it has been awarded additional RMB4.7 million (about $701,000 U.S.) new contracts during April-May to provide property cleaning services for neighborhood residences.

The Company signed RMB0.8 million of the service contracts and its Putian YouYou Cleaning Co., subsidiary, was awarded RMB3.9 million of the new business. YouYou is a leading cleaning services provider and a member enterprise at Fujian Province Cleaning Industry Association and E-Home acquired 60% of equity interests in YouYou in January.

Under the contract, the Company and YouYou will provide concentrated sweep through designated neighborhoods and maintain their cleanliness for contracted service period that ranges from 10 to 12 months.

The neighborhoods include, among others, 1.1 million square meter properties developed by China’s developer R&F Group, which is managed by property management firm Guangzhou Tianli Property Management, Xiamen Branch, and 0.26 million square meter properties managed by Fujian Fusheng Property Management Co. Ltd.

CEO Wenshan Xie commented: “It's an honor to be selected to provide our flagship cleaning services to our client partners. Our position on these contracts provides our clients access to E-Home's efficient and professional hygiene maintenance services. We are pleased to have been selected for these contracts that will assist our clients with protecting cleanness at their facilities. We look forward to a long and productive partnership with all of our clients."

EJH shares advanced 1.5 cents, or 4.5% to 35 cents.