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E-Home Household Service Holdings Ltd

For the period ended Jun 30, 2024. Filed Oct 29, 2024.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Oct 29, 2024

EJH$1.25-3.8%Stored close · as of Nov 6, 2026
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Contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended June 30,2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to ___________

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report _________________________

Commission file number:001-40375

**E-Home Household Service Holdings Limited **

(Exact Name of Registrant as Specified in Its Charter)

Not Applicable

(Translation of Registrant’s Name Into English)

**Cayman Islands **

(Jurisdiction of Incorporation or Organization)

E-Home, 18/F, East Tower, Building B,

Dongbai Center, Yangqiao Road,

Gulou District, Fuzhou City 350001,

People’s Republic of China

+86-591-87590668

(Address of Principal Executive Offices)

Mr. Wenshan Xie, Chairman and Chief Executive Officer

E-Home, 18/F, East Tower, Building B,

Dongbai Center, Yangqiao Road,

Gulou District, Fuzhou City 350001,

People’s Republic of China

Tel:+86-591-87590668

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Each Exchange On Which Registered
Ordinary Shares, par value $10 per shareEJHNASDAQ Capital Market

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

(Title of Class)

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None

(Title of Class)

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report (June 30, 2024): There were 20,443,634 shares of the registrant’s Ordinary Shares outstanding, par value $1 per share. (The Company effected a 1 for 10 reverse stock split in September 2024)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.

Large Accelerated Filer ☐Accelerated Filer ☐Non-Accelerated Filer ☒Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

†The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP ☒International Financial Reporting ☐Other ☐
Standards as issued by the International Accounting Standards Board

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.

☐ Item 17 ☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No☒

(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.

Yes ☐ No ☐

Annual Report on Form 20-F

Year Ended June 30, 2024

PART I
ITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS1
ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE1
ITEM 3.KEY INFORMATION1
A. [Reserved]6
B. Capitalization and Indebtedness6
C. Reasons for the Offer and Use of Proceeds6
D. Risk Factors6
ITEM 4.INFORMATION ON THE COMPANY32
A. History and Development of the Company32
B. Business Overview33
C. Organizational Structure47
D. Facilities47
ITEM 4A.UNRESOLVED STAFF COMMENTS48
ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS48
A. Operating Results48
B. Liquidity and Capital Resources59
C. Research and Development, Patents and Licenses, etc.61
D. Trend Information61
E. Critical Accounting Policies and Estimates61
ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES62
A. Directors and Senior Management62
B. Compensation63
C. Board Practices65
D. Employees68
E. Share Ownership69
ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS70
A. Major Shareholders70
B. Related Party Transactions70
C. Interests of Experts and Counsel70
ITEM 8.FINANCIAL INFORMATION70
A. Consolidated Statements and Other Financial Information70
B. Significant Changes71

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ITEM 9.THE OFFER AND LISTING71
A. Offer and Listing Details71
B. Plan of Distribution71
C. Markets71
D. Selling Shareholders71
E. Dilution71
F. Expenses of the Issue71
ITEM 10.ADDITIONAL INFORMATION71
A. Share Capital71
B. Memorandum and Articles of Association72
C. Material Contracts79
D. Exchange Controls79
E. Taxation80
F. Dividends and Paying Agents85
G. Statement by Experts85
H. Documents on Display85
I. Subsidiary Information85
ITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK85
ITEM 12.DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES86
A. Debt Securities86
B. Warrants and Rights86
C. Other Securities86
D. American Depositary Shares86
PART II
ITEM 13.DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES87
ITEM 14.MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITIES HOLDERS AND USE OF PROCEEDS87
ITEM 15.CONTROLS AND PROCEDURES87
ITEM 16[RESERVED]89
ITEM 16A.AUDIT COMMITTEE FINANCIAL EXPERT89
ITEM 16B.CODE OF ETHICS89
ITEM 16C.PRINCIPAL ACCOUNTANT FEES AND SERVICES89
ITEM 16D.EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES89
ITEM 16E.PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS90
ITEM 16F.CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT90
ITEM 16G.CORPORATE GOVERNANCE90
ITEM 16I.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS91
ITEM 16JINSIDER TRADING POLICY91
ITEM 16KCYBERSECURITY91
PART III
ITEM 17.CONSOLIDATED FINANCIAL STATEMENTS92
ITEM 18.CONSOLIDATED FINANCIAL STATEMENTS92
ITEM 19.EXHIBITS92

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INTRODUCTORY NOTES

Use of Certain Defined Terms

Except as otherwise indicated by the context and for the purposes of this report only, references in this report to:

●“we,” “us,” “our” or “our company,” are to the combined business of E-Home Household Service Holdings Limited, a Cayman Islands company, and its consolidated subsidiaries;
●“E-Home WFOE” are to E-Home Household Service Technology Co., Ltd., a limited liability company established under the laws of the PRC as a wholly foreign owned enterprise;
●“E-Home Pingtan” are to E-Home (Pingtan) Home Service Co., Ltd., previously named Pingtan Comprehensive Experimental Area E Home Service Co., Ltd., a limited liability company established under the laws of the PRC;
●“Exchange Act” are to the Securities Exchange Act of 1934, as amended;
●“Fuzhou Bangchang” are to Fuzhou Bangchang Technology Co. Ltd., a limited liability company established under the laws of the PRC;
●“Hong Kong” are to the Hong Kong Special Administrative Region of the People’s Republic of China;
●“PRC” and “China” are to the People’s Republic of China, excluding, for the purpose of this annual report, Taiwan and the special administrative regions of Hong Kong and Macau;
●“Renminbi” and “RMB” are to the legal currency of China;
●“SEC” are to the Securities and Exchange Commission;
●“Securities Act” are to the Securities Act of 1933, as amended
●“U.S. dollars,” “dollars,” “US$” and “$” are to the legal currency of the United States; and

Our reporting currency is U.S. dollar and our functional currency is Renminbi. This annual report contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. We make no representation that the Renminbi or U.S. dollar amounts referred to in this annual report could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. On June 28, 2024, the noon buying rate was RMB7.1268 to US$1, as set forth in the H.10 statistical release of the U.S. Federal Reserve Board.

Forward-Looking Information

In addition to historical information, this annual report contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. We use words such as “believe,” “expect,” “anticipate,” “project,” “target,” “plan,” “optimistic,” “intend,” “aim,” “will” or similar expressions which are intended to identify forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; and any statements regarding future economic conditions or performance, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions, which, if they were to ever materialize or prove incorrect, could cause the results of the Company to differ materially from those expressed or implied by such forward-looking statements. Potential risks and uncertainties include, among other things, the possibility that third parties hold proprietary rights that preclude us from marketing our products and services, the emergence of additional competing technologies, changes in domestic and foreign laws, regulations and taxes, changes in economic conditions, uncertainties related to legal system and economic, political and social events in China, a general economic downturn, a downturn in the securities markets, and other risks and uncertainties which are generally set forth under Item 3 “Key information—D. Risk Factors” and elsewhere in this annual report.

Readers are urged to carefully review and consider the various disclosures made by us in this report and our other filings with the SEC. These reports attempt to advise interested parties of the risks and factors that may affect our business, financial condition and results of operations and prospects. The forward-looking statements made in this report speak only as of the date hereof and we disclaim any obligation, except as required by law, to provide updates, revisions or amendments to any forward-looking statements to reflect changes in our expectations or future events.

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