ICZOOM Filed the 20-F Amendment to Revise Certain Legal Risk Disclosures

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ICZOOM Group Inc. (Nasdaq: IZM) filed an amendment to its Annual Report on 20-F to revise legal risk disclosures related to doing business in China and PRC regulations. The amendment did not alter other financial or operational information in the report, maintaining transparency and compliance with disclosure requirements.

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 Company's business or operations, financial results, financial statements or others, except for solely the revisions of certain disclosures of risk factors in connection with doing business in China. The Form 20-F/A reflects information as of the original filing date of the Original Form 20-F, October 31, 2023, and does not reflect events occurring after that date.

The Company continues to maintain transparency and compliance with applicable disclosures requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About ICZOOM Group Inc.

ICZOOM Group Inc. (Nasdaq: IZM) is primarily engaged in sales of electronic component products to customers in Hong Kong and mainland China through its B2B e-commerce platform. 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 segments. By utilizing latest technologies, the Company's platform collects, optimizes and presents product offering information from suppliers of all sizes, all transparent and available to its SME customers to compare and select. In addition to the sales of electronic component products, the Company also provides services to customers such as temporary warehousing, logistic and shipping, and customs clearance. For more information, please visit the Company's website: http://ir.iczoomex.com/index.html. 

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "we believe," "we intend," "may," "should," "will," "could" and similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.

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SOURCE ICZOOM Group Inc.

FAQ

What did ICZOOM Group Inc. (IZM) file?

ICZOOM filed an amendment to its Annual Report on 20-F to revise legal risk disclosures regarding doing business in China and PRC regulations.

Did the amendment change any financial information in the report?

No, the amendment did not modify any financial or operational details in the report, only revised certain disclosures related to legal risks.

When was the Original Form 20-F filed?

The Original Form 20-F was filed on October 31, 2023.

What does the Form 20-F/A reflect?

The Form 20-F/A reflects information as of the original filing date of the Original Form 20-F and does not include events occurring after that date.

Is ICZOOM maintaining transparency and compliance with disclosure requirements?

Yes, the company continues to uphold transparency and compliance with applicable disclosure requirements.