ICZOOM Named to Influential 2023 China Top 100 Industrial Digitalization List

HONG KONG, Nov. 21, 2023 /PRNewswire/ -- ICZOOM Group Inc. (Nasdaq: IZM) (the "Company" or "ICZOOM"), a B2B electronic component products e-commerce platform, announced today that the Company was named to the influential 2023 China Top 100 Industrial Digitization List. ICZOOM received the prominent award along with Alibaba B2B, Ouyeel Yunshang, Guolian Co., Ltd., Huitongda, Huaneng Zhilian, Shanghai Ganglian, and other top-ranking companies.

The latest ranking was unveiled at the 10th Industrial Digitalization Conference with the theme of "New Space, New Engine, New Channel, and New Support" in Nanjing, China, where more than 300 government leaders, experts, scholars, entrepreneurs, and investors from across the country gathered to discuss the new trend of the platform economy development and industrial digital development.

ICZOOM's CEO, Mr. Lei Xia, commented, "ICZOOM's repeat inclusion on the influential 2023 China Top 100 Industrial Digitization List is a huge honor for all of us. This is a testament to our Company's leadership through our electronic components e-commerce platform, and the hard work of our entire team. We continue to invest in enhancing our platform as we strive to extend our leadership through the continuous upgrading and improvement of our SaaS technology and services. We believe we have the most robust platform solution available, as we help small and micro-electronics enterprises successfully complete their digital transformation."

As one of the most intuitive modes of industrial digitalization, the platform economy is supported by a new generation of information technologies, such as big data, and artificial intelligence, which play an important role in the efficient allocation of resources, smooth economic circulation, and enabling industrial upgrading. It is estimated that China's national industrial digital transactions will reach 21.2 trillion yuan, a year-on-year increase of 6.5%, and the level of industrial digital development has been steadily improving, with a growth rate higher than that of 4.2% of the national e-commerce transaction scale, and the momentum is still strong (source: Toby.com).

The proprietary Internet platform for the electronic components industry built by ICZOOM is positioned to benefit from this rapid growth.  ICZOOM's comprehensive supply chain service addresses product selection, matching, order execution and delivery, intelligent warehousing, smart logistics, financing matching, SaaS services and other supply chain services for a large number of small and medium-sized batches/small and medium-sized enterprise supply and demand orders at a low service cost through online transactions and emerging technology support such as big data and artificial intelligence.

About China's Top 100 Industrial Digitalization List

The "Top 100 Chinese Industrial Digitalization List" has been released by Toby.com since 2015. The final results of the annual selection are calculated by scientific algorithms based on several dimensions, such as corporate revenue, GMV data, profit data, listings, financing data, news dissemination data, enterprise and website traffic data, and other information publicly disclosed.

About the China Industrial Digitalization Conference

The annual China Industrial Digitalization Conference was held in Beijing in 2014, Nanchang in 2015, Shanghai in 2016, Ningbo in 2017-2019, and Nanjing in 2020-2023. It is estimated that more than 80% of the heads of industrial digital enterprises in China have participated in the conference, with the largest number exceeding 2,000 people.

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.