ICZOOM Announces SaaS Enhancement of One-Stop Components Procurement Platform to Support Customer Growth

HONG KONG, Jan. 4, 2024 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq:IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced today that the Company has completed an extensive SaaS enhancement of its one-stop components procurement platform to support customer growth.

ICZOOM's SaaS enhancement further integrates R&D, operations, financial accounting and intelligent management systems for more efficient and streamlined enterprise workflow transactions. The enhancements also more tightly integrate support of blockchain technology, more robust security protocols and supply chain ERP management cloud platform service. Additionally, the new SaaS enhancement provides more feature-rich automated analytics, reporting, notification options, and intelligent management systems.

ICZOOM's CEO, Mr. Lei Xia, commented, "We are enabling the digital transformation of a growing number of customers' component procurement systems. Our leadership and commitment to investing in support of the small and medium-sized microelectronics enterprises we serve are driving ICZOOM's growth as we help customers to purchase electronic components more conveniently, reduce procurement costs and improve procurement efficiency. At the same time, this is helping us to build and fortify our competitive advantage, which is important to our long-term success as we work to build value for 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.