ICZOOM Group Inc. Files 2024 Annual Report

Ticker: IZM · Form: 20-F · Filed: Oct 25, 2024 · CIK: 1854572

Iczoom Group INC. 20-F Filing Summary
FieldDetail
CompanyIczoom Group INC. (IZM)
Form Type20-F
Filed DateOct 25, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.16
Sentimentneutral

Sentiment: neutral

Topics: annual-report, 20-f, consumer-electronics

TL;DR

ICZOOM Group Inc. just dropped its 2024 20-F. Check it out for the latest on their consumer electronics biz.

AI Summary

ICZOOM Group Inc. filed its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company, incorporated in the Cayman Islands and operating in the retail of consumer electronics, is based in Shenzhen, Guangdong, China. The filing serves as its annual report under the Securities Exchange Act of 1934.

Why It Matters

This filing provides investors with an update on ICZOOM Group Inc.'s financial performance and business operations for the past fiscal year, crucial for assessing the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a foreign private issuer filing an annual report, the information may be less detailed or standardized compared to domestic US companies, requiring careful review.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of ICZOOM Group Inc. as indicated in the filing?

The filing indicates ICZOOM Group Inc. operates in the RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES sector, SIC code 5731.

For which fiscal year is ICZOOM Group Inc. filing this 20-F report?

The report is for the fiscal year ended June 30, 2024.

Where is ICZOOM Group Inc. incorporated?

ICZOOM Group Inc. is incorporated in the Cayman Islands.

What is the SEC file number for ICZOOM Group Inc.?

The SEC file number for ICZOOM Group Inc. is 001-41645.

What is the business address of ICZOOM Group Inc.?

The business address is Room 3801, Building A, Sunhope E-Metro, No. 7018 Cai Tian Road, Futian District, Shenzhen, Guangdong, China.

Filing Stats: 4,623 words · 18 min read · ~15 pages · Grade level 11.7 · Accepted 2024-10-25 16:00:32

Key Financial Figures

Filing Documents

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 151 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 151 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 152 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 152 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 152 ITEM 16. RESERVED 154 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 154 ITEM 16B. CODE OF ETHICS 154 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 154 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 154 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 154 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 155 ITEM 16G. CORPORATE GOVERNANCE 155 ITEM 16H. MINE SAFETY DISCLOSURE 156 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 156 ITEM 16J. INSIDER TRADING POLICIES 156 ITEM 16K CYBERSECURITY 156 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 157 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 157 ITEM 19. EXHIBITS 157 Index to Consolidated Financial Statements F-1 i INTRODUCTION Unless otherwise indicated, numerical figures included in this Annual Report on Form 20-F (the "Annual Report") have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them. For the sake of clarity, this Annual Report follows the English naming convention of first name followed by last name, regardless of whether an individual's name is Chinese or English. Numerical figures included in this Annual Report have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables may not be arithmetic aggregations of the figures that precede them. Certain market data and other statistical information contained in this Annual Report are based on information from independent industry organizations, publications, surveys and forecasts. Some market data and statistical information contained in this Annual Report are also based on management's estimates and calculations, which are derived from our review and interpretation of the independent sources listed above, our internal research and our knowledge of the PRC information technology industry. While we believe such information is reliable, we have not independently verified any third-party information and our internal data has not been verified by any independent source. "AP" refers to accounts payable. "AR" refers to accounts receivable. "ASC" refers to Accounting Standards Codification. "ASU" refers to Accounting Standards Update. "AEO" refers to Authorized Economic Operator. "BOM" refers to Bill of Material. "Class A Ordinary Shares" refer to our Class A ordinary shares, $0.16 par value per share; "Class B Ordinary Shares" refer to our Class B ordinary shares, $0.16 par value per share; "Components Zone HK" refers to Components Zone In

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT

Item 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

Item 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

Item 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors SUMMARY OF RISK FACTORS You should carefully consider the following risk factors, together with all of the other information included in this Annual Report. Investment in our securities involves a high degree of risk. You should carefully consider the risks described below together with all of the other information included in this Annual Report before making an investment decision. The risks and uncertainties described below represent our known material risks to our business. If any of the following risks actually occurs, our business, financial condition or results of operations could suffer. In that case, you may lose all or part of your investment. Risks Related to Our Business and Industry. See " Item 3. Key Information— Risk Factor — Risks Related to Our Business and Industry " starting on page 5 of this Annual Report. Risks and uncertainties related to our business and industry include, but are not limited to, the following: We derive substantially our revenue from purchases made by SMEs in China that are electronic manufacturers or traders engaging in consumer electronic industry, IoT, automotive electronics, industry control segment. As a result, factors that adversely affect Chinese electronics manufacturers or the Chinese electronics manufacturing industry could also materially and adversely affect our customers' business, financial condition, results of operations and prospects and subsequently impact them placing orders with us. See "— We substantially rely on purchases made by Chinese electronics SMEs, and factors that adversely affect Chinese electronics industry could have a material adverse effect on our business, financial condition, results of operations and prospects ." on page 5 of this Annual Report. Our continued success requires us to maintain our current cus

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