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].

HONG KONG, May 28, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced that the "ICZOOM & WeBank Supply Chain Finance Strategic Cooperation Signing Ceremony" was held at the headquarters of ICZOOM in Shenzhen on 27th May, which marked the official launch of cooperation between the two parties in the field of supply chain finance.Photos of ICZOOM & WeBank signed the Supply Chain Finance Strategic Cooperation Agre ...

HONG KONG, April 29, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM") today filed an amendment to its Annual Report on 20-F for the fiscal year ended June 30, 2023 (the "Original Form 20-F"), solely for the purposes to revise certain disclosures regarding the legal and operational risks in China and PRC regulations. The amendment to the Original Form 20-F (the "Form 20-F/A") did not modify or update in any way disclosures made in the Original Form 20-F with respect to the Com ...

Group 1 - ICZOOM Group Inc. voluntarily withdrew its registration statement on Form F1 and canceled the proposed public offering due to unfavorable market conditions [1] - The company's management assessed that current market pricing is not conducive for an offering that would benefit the company or its shareholders [1] Group 2 - ICZOOM Group Inc. operates a B2B e-commerce platform primarily selling electronic components to small and medium-sized enterprises in Hong Kong and mainland China [2] - The company's product offerings are utilized in various sectors including consumer electronics, Internet of Things (IoT), automotive electronics, and industrial control [2] - In addition to product sales, ICZOOM provides services such as temporary warehousing, logistics, shipping, and customs clearance [2]

HONG KONG, March 18, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced today that the Company has upgraded the risk control of its SAAS system to enhance its customer service capabilities and improve the quality and security of customer transactions. ICZOOM's electronic trading platform has undergone a system upgrade to provide a more secured trading environment for clients on the trading platform by improving ...

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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, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTI ...

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS ICZOOM GROUP INC. AND SUBSIDIARIES Form 6-K For the Six Months Period Ended December 31, 2022 TABLE OF CONTENTS | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------|----------------| | | | | | Page | | Consolidated Financial Statements | | | Consolidated balance sheets as of December 31, 2022 and June 30, 2022 | F-2 | | Consolidated statements of income and co ...