This NASDAQ-Listed Chinese Household Services Company Hopes To Upgrade Our Lives For The Better

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Most consumers will have a major appliance stop working at some point, but finding a reputable company to repair it can be a frustrating experience that involves long wait times, outdated processes–and a lot of money.

One Chinese company is hoping to change the game for household services everywhere: upgrading your household products through artificial intelligence, new technology, and using the ever-popular Metaverse to make our lives easier and more efficient.

E-Home Household Service Holdings Ltd. EJH is a provider of integrated household services in China, including installation and maintenance of home appliances, housekeeping services and senior care services.  The company works on both the B2C and B2B sides, focusing on everything from cleaning electric power companies to electronic intelligence smartwatches to assist nannies working at home.

“Household services can sometimes be misunderstood as a traditional business. So what we are trying to do is to revolutionize the industry with both of our decades-long experience and our pioneering strategic initiatives such as the metaverse virtual customer service and training guide ‘Xiao e’, as well as our roadmap to expand into big health and wearable product sectors, “ Chairman Wenshan Xie said.

Household Services: In the Metaverse

Based in Fuzhou City, China, E-Home provides these household services through its website and WeChat platform across 21 provinces in China. The company offers comprehensive and integrated household services, including installation and maintenance of home appliances and smart home equipment; housekeeping; internet and home-based eldercare; and nannies. However, this is with a twist: everything is enhanced by the latest technology. 

Its Metaverse business has two main applications: providing virtual customer service and training. Customers can chat with a virtual service robot available 24/7, place orders on the company’s WeChat platform or mobile app and provide detailed information: the address to be served, contact information and the time they’d like the appointment. E-Home sends the order to the appropriate service provider, who provides on-site services based on the provided information. The customer service center will close the order after the customer’s evaluation and the service provider’s response. 

In addition, the company also conducts virtual training for household services workers from anywhere in the country. Ultimately, this reduces the need for on-site manpower and typical costs associated with physical training, taking a lift off of companies everywhere.

Expansions on the Horizon

Planning to expand to elderly care and big health sectors, the company has more than 2.8 million registered members and received about 1.4 million orders in the fiscal year ended June 30, 2021. E-Home has also acquired housekeeping companies in regions like Lianbao in Shenzhen, hoping to demonstrate its commitment to the industry at large.

While main regional competitors include Swan Daojia Home Service and Home King based in Xiamen City, E-Home claims to be the only home service company leveraging existing technology to ultimately reduce labor costs. For E-Home, it seems to be working. Revenue has increased from $51.1 million in fiscal 2019 ended June 30, 2019 to $74.5 million in fiscal 2021 ended June 30, 2021. The Company projects revenue will hit $77 million and net income will be $7.7 million for the 12 months ended December 31, 2022.

The company also recently announced a share buyback. “We decided to launch a share buyback because we believe the company is significantly undervalued. Our existing businesses are delivering stable growth while our innovative businesses also provide new growth points," announced Chairman Wenshan Xie.

Where does this growth come from? E-Home attributes it to its installation and maintenance and housekeeping services that it started in 2018 as well as its senior care services, which it began providing in 2020.

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

Photo by Janko Ferlič on Unsplash