ICZOOM Group Inc.
(Note: ICZoom completed a reverse stock split on a 1-for-2 ratio on Aug. 8, 2022.)
We, supported by our e-commerce trading platform, are primarily engaged in sales of electronic component products to customers in Hong Kong and the People’s Republic of China (PRC). These products are primarily used by China-based small and medium-sized enterprises (“SMEs”) in the consumer electronic industry, Internet of Things (“IoT”), automotive electronics and industry control segment. In addition to the sales of electronic component products, we also provide services to customers such as temporary warehousing, logistic and shipping, and customs clearance and charge them additional service commission fees. We sell two categories of electronic component products: (i) semiconductor products and (ii) electronic equipment, tools and other products. Our semiconductor products primarily include various integrated circuit, discretes, passive components and optoelectronics, and our equipment, tools and other electronic component products primarily include various electromechanical, maintenance, repair & operations (“MRO”), and various design tools.
Note: We are not a Chinese operating company, but a holding company incorporated in the Cayman Islands with all of our operations conducted by our wholly owned subsidiaries established in the People’s Republic of China (“PRC” or “China”) and Hong Kong. This structure involves unique risks to investors. See “Risk Factor — Risks Related to Doing Business in China” starting on page 50 of this prospectus and “Risk Factor — Risks Related to Our Corporate Structure” starting on page 48 of this prospectus.
For the fiscal year ended June 30, 2021, we made purchases from a total of 966 suppliers. As the date hereof, we have uploaded information of all products we purchased not only from those suppliers but from any new suppliers in 2022 on the new platform.
For the fiscal year ended June 30, 2021, we generated revenue from a total of 1,049 customers through the old platform. The new platform, however, does not automatically integrate the information of registered customers from the old platform. The customers are mainly small-medium electronic component buyers in PRC, some of which are repeat customers who constantly place orders on the platform, and some are less active who place orders whenever they need to. For those repeat customers, we were able to contact them and worked with them even prior to the termination of the VIE arrangement to register with the new platform and continue working with them to transfer over to the new platform. For other random customers, with the assistance from Pai Ming Shenzhen, we are gradually transferring them over. See more details about the cooperation with Pai Ming Shenzhen described in this prospectus. We currently expect that it will take us up to one year to complete the transfer of customers. In January and February 2022, we had 427 customers, among which 382 were transferred customers and 45 were new customers (including 9 new customers sourced by Pai Ming Shenzhen).
**Note: For the fiscal year ended June 30, 2021, our revenue was $279.36 million, and our net income was $2.63 million.
**Updated financial statement: For the 12 months that ended Dec. 31, 2021, our revenue was $292.22 million, and our net income was $1.72 million.
(Note: ICZoom Group cut its IPO to 3.0 million shares, down from 4.4 million shares, and reduced the price range to $4.00 to $5.00, down from $5.00 to $6.00, in an F-1/A filing dated Sept. 9, 2022. Estimated IPO proceeds under the new terms are $13.5 million – down 43.8 percent from the previous estimate of $24 million. The company also changed underwriters in its Sept. 9, 2022, filing, by naming The Benchmark Company LLC as its sole book-runner; the previous underwriters were Prime Number Capital and Shengang Securities. ICZoom Group Inc. filed an F-1/A dated June 21, 2022, with updated financial statements for the six months that ended Dec. 31, 2021. Previously: ICZoom Group Inc. filed its F-1 on Aug. 23, 2021; it set terms in its F-1/A filing on Sept. 17, 2021: 4.4 million shares at $5 to $6 to raise $24 million. ICZoom Group Inc. had filed confidential IPO paperwork with th SEC on April 1, 2021.)
|Industry:||Wholesale - Electronic parts & equipment, NEC|
|Address||Room 102, Technology Bldg., International e-Commerce Industrial Park 105 Meihua Road Futian, Shenzhen China, 518000|
|Phone Number||86 755 86036281|
|View Prospectus:||ICZOOM Group Inc.|
|Revenues||$292.22 mil (last 12 months)|
|Net Income||$1.72 mil (last 12 months)|
|Price range||$4.00 - $5.00|
|Est. $ Volume||$13.5 mil|
|Manager / Joint Managers||The Benchmark Company LLC|
|Expected To Trade:|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|