HONG KONG, June 20, 2025 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced its unaudited financial results for the six months ended December 31, 2024, on June 18, 2025.Amidst a continuously evolving market environment, ICZOOM executed effectively in line with its initial expectation. ICZOOM achieved positive revenue growth with total revenue increased by 3.0% from $87,720,553 for the six months ended December 31, 2 ...

HONG KONG, May 9, 2025 /PRNewswire/ -- Mr. Lei Xia, the founder and CEO of ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, was invited as one of the guest speakers at 2025 China (Shenzhen) Industrial Internet Overseas Conference held on April 27, 2025.Mr. Xia featured as one of the guest speakers at a high-profile roundtable discussion at the conference to share his perspectives on global opportunities and challenges for electronics suppl ...

HONG KONG, Jan. 3, 2025 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced that it concluded a successful year of 2024 as being selected as one of the Top 100 Innovative Enterprises of 2024 in the Guangdong-Hong Kong-Macao Greater Bay Area and the Top 100 Digitalization Enterprises of 2024 in China.On December 30, 2024, at the 7th Shenzhen-Hong Kong-Macao Science and Innovation Conference held in Shenzhen, ICZOOM wa ...

HONG KONG, Nov. 15, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced that ICZOOM and Hjet Supply Chain, a subsidiary of ICZOOM("HJET") were recognized as the "Outstanding E-Commerce Distributor" and the "Annual Outstanding Supply Chain Service Provider," respectively, at the 2024 International Integrated Circuit & Component Exhibition and Conference (hereinafter referred to as: IIC Shenzhen). ICC Shenzhen, is ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Class A Ordinary shares, par value $0.16 per share IZM The NASDAQ Stock Market LLC FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (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 SECTI ...

HONG KONG, Oct. 18, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced that its wholly-owned subsidiary, Hjet Supply Chain Co., Ltd., ranked 390th among Shenzhen Top 500 Enterprises in 2024 as collectively released by Shenzhen Enterprise Confederation, Shenzhen Entrepreneurs Association and Qianzhan Industry Institute in the 2024 Shenzhen Top 500 Enterprises Development Report. This recognition acknowledges ICZ ...

Core Insights - ICZOOM Group Inc. has been ranked 49th among the Top 100 Enterprises in China's Internet Industry, showcasing its strong operational strategies and market performance in the electronic industry internet sector [1] - The recognition highlights ICZOOM's role as a key player in technology innovation and digital transformation for traditional industries [1] Company Overview - ICZOOM Group Inc. operates a B2B e-commerce platform primarily selling electronic component products to small and medium-sized enterprises (SMEs) in Hong Kong and mainland China [3] - The company's product offerings cater to various sectors including consumer electronics, Internet of Things (IoT), automotive electronics, and industry control [3] - ICZOOM's platform utilizes advanced technologies to optimize product information from suppliers, providing transparency for SME customers to compare and select products [3] - In addition to product sales, the company offers services such as temporary warehousing, logistics, shipping, and customs clearance [3] Leadership Recognition - ICZOOM's CEO, Mr. Lei Xia, has been recognized as one of the 2024 China Industry Internet Leaders, reflecting his impactful leadership in navigating a competitive landscape and fostering innovation [2]

HONG KONG, Aug. 30, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced that ICZOOM Participated in ELEXCON 2024 Shenzhen International Electronics Exhibition and Achieves a Successful Conclusion.From August 27th to 29th, the ELEXCON 2024 Shenzhen International Electronics Exhibition grandly opened at the Shenzhen Futian Exhibition Center. More than 400 exhibitors participated in the exhibition. With meticulous ...

HONG KONG, Aug. 29, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company"), a B2B electronic component products e-commerce platform, announced that it has received written notice (the "Compliance Notice") from the Nasdaq Stock Market LLC ("Nasdaq") informing the Company that it has regained compliance with Nasdaq Listing Rules 5620 (the "Annual Shareholder Meeting Requirement").As previously announced, on July 9, 2024, the Company received written notice from the Nasdaq notifying the Company t ...

Financial Performance - Total revenue for the six months ended December 31, 2023, was $87.72 million, a decrease of 27.0% compared to $120.21 million for the same period in 2022[6]. - Gross profit for the same period was $2.19 million, down 29.4% from $3.10 million year-over-year[6]. - The net loss for the six months ended December 31, 2023, was $721,745, compared to a net income of $926,717 for the same period in 2022[6]. - Sales of electronic components products totaled $86,329,512 for the six months ended December 31, 2023, down 27.0% from $118,348,676 in 2022[76]. - Integrated Circuits sales increased significantly to $30,881,697 in 2023 from $9,097,914 in 2022, representing a growth of 238.5%[76]. - The company reported a net loss attributable to ordinary shareholders of $721,745 for the six months ended December 31, 2023, compared to a net income of $926,717 in 2022[88]. - Basic and diluted earnings per share for the six months ended December 31, 2023, were both $(0.07), compared to $0.10 in 2022[88]. Assets and Liabilities - Total current assets decreased to $63.60 million as of December 31, 2023, from $86.89 million as of June 30, 2023, representing a decline of 26.8%[2]. - Total liabilities decreased to $49.40 million as of December 31, 2023, from $72.63 million as of June 30, 2023, a reduction of 31.9%[3]. - The company reported total shareholders' equity of $15.67 million as of December 31, 2023, an increase from $15.54 million as of June 30, 2023[4]. - Accounts receivable decreased significantly to $53.12 million as of December 31, 2023, from $76.69 million as of June 30, 2023, a decline of 30.8%[2]. - Total inventory, net, decreased to $454,999 as of December 31, 2023, from $833,858 as of June 30, 2023, representing a decline of about 45.5%[109]. - The balance due to related parties increased significantly to $3,280,522 as of December 31, 2023, compared to $1,508,766 as of June 30, 2023[160]. Cash Flow and Financing Activities - Cash and cash equivalents increased slightly to $1.13 million as of December 31, 2023, compared to $1.11 million as of June 30, 2023[2]. - The net cash used in operating activities was $1,026,221, a decrease from $1,905,166 in the prior year, showing an improvement of approximately 46%[10]. - The company experienced a net cash provided by financing activities of $2,987,399, up from $2,023,947 in the previous year, marking an increase of approximately 48%[10]. - The total interest expense for loans from PRC banks amounted to $321,697 for the six months ended December 31, 2023[144]. - The Company borrowed a total of RMB 16.0 million (approximately USD 2.3 million) from SPD Bank on October 24, 2023, with an effective interest rate of 2.74% per annum[126]. - The Company borrowed $2.75 million from Agricultural Bank of China on February 22, 2023, with an effective interest rate of 5.69% per annum[128]. Operational Highlights - The company has been actively engaged in the sales of electronic components primarily to small and medium-sized enterprises in China, focusing on the consumer electronics and automotive electronics sectors[13]. - ICZOOM has established a comprehensive logistics and shipping service to enhance customer experience and generate additional service commission fees[13]. - The company operates a B2B online platform, where customers can post quotes for electronic components, and revenue is recognized upon delivery[68][71]. - The company generates revenue from sales of electronic components and service commission fees, with commission fees ranging from 0.15% to 2% based on merchandise value[72][73]. Taxation and Regulatory Matters - ICZOOM Shenzhen was approved as a High and New Technology Enterprise, entitled to a reduced income tax rate of 15% beginning December 2023[152]. - For the six months ended December 31, 2023, the actual income tax expense was $(324,977), compared to a benefit of $1,052 for the same period in 2022[154]. - The deferred tax assets derived from net operating loss carry forwards increased to $741,077 as of December 31, 2023, from $406,760 as of June 30, 2023[156]. Shareholder Information - The weighted average number of ordinary shares outstanding for the six months ended December 31, 2023, was 10,362,861, compared to 8,826,374 for the same period in 2022[6]. - The total number of outstanding stock options is 742,762 with a weighted average exercise price of $0.18[183]. - The fair value of share options vested during the six months ended December 31, 2023 was nil, compared to $4,683 for the same period in 2022[188]. - The company recorded share-based compensation expense of nil for the six months ended December 31, 2023, down from $58,598 in 2022[188].