ICZOOM Celebrates First Listing Anniversary on Nasdaq

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ICZOOM Group Inc. celebrates its one-year anniversary of listing on Nasdaq, showing significant growth in customer retention. The company has upgraded its SAAS system and improved user experience design to enhance platform services.

HONG KONG, March 25, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced today that it is celebrating the one-year anniversary of its listing on the Nasdaq.

Since listing on the Nasdaq on March 15, 2023, ICZOOM has continued to upgrade its proprietary self-developed SAAS system to enhance its platform services. ICZOOM built a highly expandable and distributed software architecture that can be sustainably improved. ICZOOM also established an effective user experience design process in SaaS suite to improve the experience of customers. Notably, the number of ICZOOM's repeat customers in FY2023 was 549, accounting for 67.5% of the total number of customers for FY2023, compared to only 58.0% in FY2022.

ICZOOM's CEO, Mr. Lei Xia, commented, "We are honored to celebrate our first anniversary of listing on Nasdaq as we review the progress we have made in the past year. ICZOOM will continue to solidify its position in electronic component products trading and anticipates to make more contributions to the development of the global market. We look forward to our future growth and remain committed to creating long-term value for our shareholders."

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 is the ticker symbol for ICZOOM Group Inc.?

The ticker symbol for ICZOOM Group Inc. is IZM.

When did ICZOOM Group Inc. list on Nasdaq?

ICZOOM Group Inc. listed on Nasdaq on March 15, 2023.

What percentage of customers were repeat customers for ICZOOM in FY2023?

In FY2023, 67.5% of ICZOOM's customers were repeat customers.

Who is the CEO of ICZOOM Group Inc.?

Mr. Lei Xia is the CEO of ICZOOM Group Inc.

What improvements has ICZOOM made to its platform services?

ICZOOM upgraded its SAAS system and enhanced user experience design in its SaaS suite.