SHENZHEN, China, April 26,
2023 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM)
(the "Company" or "ICZOOM"), a B2B e-commerce trading platform
primarily engaged in sales of electronic component products in
Hong Kong and mainland
China, today announced it plans to
launch an online financing program (the "Program") designed to
address the financing needs for small and micro enterprises
("SMEs") on its platform. The Program will incorporate a fund
matching service module into the Company's SaaS system, enabling
the SMEs to log on to ICZOOM's SaaS platform to access financing
products of commercial banks and financial institutions that are
partnered with ICZOOM to post their products on its platform.
The online fund matching service module of the Program has
already been incorporated into the system, and ICZOOM are in
discussion with commercial banks and financial institution to post
their financing products on its platform. Once qualified financing
products are introduced to the Program, the online fund matching
module will be made available to SMEs who are qualified to complete
their financing applications online. The Program aims to cater to
the financing needs of SMEs on the platform, once the financing is
available to them, they would pay certain amount of service fee for
using the platform and improvement of their financial position will
potentially reduce the Company's accounts receivable cycle and
optimize its cash flow.
Mr. Lei Xia, the CEO and the Chairman of the Board of Directors
of ICZOOM, remarked, "We have been providing services to SMEs in
the component industry and are attentive to clients' needs and
satisfaction. Many of the SMEs we have served in the past have
expressed a significant need for financing. Urgent and frequent
financing requirements are often left unaddressed, with only a
small portion being resolved by extending the payment period. The
goal of the Program is expected to match SMEs we serve with
suitable financial products issued by commercial banks or financial
institutions to address the financing needs of such SMEs. We
believe the Program will benefit the Company, SMEs, and commercial
banks or financial institutions. We are in the process of engaging
in discussions and negotiations with several financial institutions
to integrate their financial product application portals into our
SaaS system. We are excited about the prospect of providing this
additional service to our clients and looking forward to providing
them with more financing options, thereby creating more value for
our clients."
About ICZOOM Group Inc.
ICZOOM Group Inc. is primarily engaged in sales of electronic
component products to customers in Hong
Kong and mainland China
through its B2B e-commerce trading 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.
For more information, please contact:
ICZOOM Group Inc.
Investor Relations Department
Phone: +86-(755) 88603072
Email: investors@iczoom.com
Ascent Investors Relations LLC
Tina Xiao
Phone: +1 917 609-0333
Email: tina.xiao@ascent-ir.com
View original
content:https://www.prnewswire.com/news-releases/iczoom-group-inc-to-launch-an-online-financing-program-to-serve-small-and-micro-enterprises-301806473.html
SOURCE ICZOOM Group Inc.