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Our website ranking of EHH: rating 4
(4 out of 5)



Boardroom Pty Ltd, Level 12, 225 George Street, Sydney NSW 2000

Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000EHH5
Address: Level 23, 530 Collins Street Melbourne VIC 3000
Tel:  +(86)592-7316256 Fax: 

Date first listed: 03/07/2017
Company Secretary: Lucy Tao Li
Sector:  Industry Group: 
Activities: The Eagle Group is principally engaged in the developing, manufacturing, marketing and distributing health food products and nutritional and dietary supplements in China

The Eagle Health's China operations management by its wholly owned subsiary, Xiamen Eagledon Pharmaceuticals, have been adversely affected by the pandemic. Sales stagnated, supply chains and logistics slowed down, production scaled back, therefore the marketing campaigns suspended and outlet expansion postponed. In the first half of 2020, sales of health supplements decreased significantly by 61% compared to the same period of 2019. The company has identified a new market opportunity in the production and sale of personal protective products and has made a strategic move to manufacture and sell face masks from its existing production facility in Xiamen, China by Eagledon. Eagledon now has 20 face mask production lines in operation including a capability to produce N95 face masks. The 2019 annual audit is still not complete. The Board has also decided to defer convening an AGM until such accounts are available.


The company provides a detailed update on the issues impacting the finalisation of the 31 December 2019 financial statements and the status of resolution of those issues. The issues are as follows: Problems with Grant Thornton's ability to complete the ABC Bank bank confirmation process independently of Eagle Don; Problems with reconciling Eagle Don's VAT invoicing against relevant PRC Government systems; Eagle Don invoicing of deregistered companies; Eagle Don Debtor Confirmation Letters; Additional subsidiary issues. EHH notes that the Australian Directors have sought to extensively engage with Eagle Don and Grant Thornton to resolve these issues expeditiously. EHH has also held several Board meetings where explanations and cooperation has been sought from the China CEO of Eagle Don.


The Board has appointed a "Big Four" Accounting Firm as its independent accountant to assist the Company in resolving outstanding audit verification requirements and to provide comments and advice on the appropriate internal controls of the Company's China operations.


The Board has decided it would not be appropriate for it to proceed with the previously announced dividend and it is in the best interests of the Company to cancel the dividend that was payable on 30 April 2020, as permitted by the Company's constitution.


The lodgement of the company's audited financial statements for the year ending 31 December 2019 is unfortunately delayed. The company is working diligently with its auditors to obtain all supporting documents and to resolve all outstanding matters in the most timely manner.


The company's securities will be suspended from Official Quotation in accordance with Listing Rule 17.5 from the commencement of trading today, 16 March 2020, following its failure to lodge the relevant periodic report by the due date.


listed entity carried for record purposes only


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    Directors' on-market share transactions (last 5)


    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    Lucy LiCFO02/09/2020
    Ping YangNon Exec Director02/09/2020
    Linxiang ChenNon Exec Director31/01/2017
    Mingwang ZhangExecutive Director, CEO09/12/2016
    Wenlong ShaoExecutive Director02/09/2020

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    Andrew SmithNon Exec Chairman09/12/201631/08/2020
    Brendan de KauweExecutive Director18/11/201931/08/2020
    Gang XuManaging Director11/11/201915/06/2020
    Andrew ThomsonNon Exec Chairman31/01/201718/11/2019
    Rodney HanningtonNon Exec Director31/01/201718/11/2019
    Yuhong LiuNon Exec Director31/01/201711/11/2019
    Haroon KallaNon Exec Director16/05/201811/10/2019

    Date of first appointment, title may have changed.