Headquartered in Shenzhen and started business in 2012, we are a Cayman Islands registered holding company and conducted our operations in China through our subsidiaries and Shenzhen Pai Ming Electronics Co., Ltd. (“Pai Ming Shenzhen”). We operate a B2B online platform www.iczoom.com, where our customers can register as members and use the platform to search for or post quotes for their desired electronic component products. By utilizing latest technologies, our platform collects, optimizes and presents product offering information from suppliers of all sizes, all transparent and available to our medium-sized enterprises (“SMEs”) customers to compare and select. Supported by our e-commerce trading platform, we are primarily engaged in sales of electronic component products to customers in the PRC. These products are primarily used by China based SMEs in the consumer electronic industry, Internet of Things (“IoT”), automotive electronics and industry control segment. In addition to the sales of electronic component products, we also provide services to customers such as temporary warehousing, logistic and shipping, and customs clearance and charge them additional service commission fees.
We are the pioneer building an open market in the electronic component sale and supply industry. In 2012, we started to build an e-commerce platform as the first open market in the electronic component distribution industry that focuses on real-time pricing, anonymous trading, and SaaS solutions. We are one of the first companies in China to develop a specific e-commerce platform that caters to the procurement and logistic needs of SME purchasers of electronic components. We provide tailor-made e-commerce solutions that cater to the specific needs of our customers, unique infrastructure for efficient customers management and service post-order until delivery, Our full-fledged software-as-a-service (“SaaS”) suite enables customers to optimize and digitalize their orders. The comprehensive range of services improve customers’ transaction experience, enhance our platform brand image, and empower our business growth. Our platform is the only one that uses an anonymous trading system electronic components trading in China, with early stage product searching, price seeking and logistics arrangement. Such platform allows customers and suppliers to participate and create an ecosystem that further connects vast electronic components.
Since our inception in 2012, our platform has accumulated more than 25 million SKUs for 3,670 brands in multiple electronic industry subdivisions. Because of the information and data we provide, we have substantial amount of visitors to our platform to review and collect product information and more than 20,000 SMEs registered as users on our platform so that they can post enquiries and/or offering information of their products, among which, some become our customers and some become our suppliers.
Our platform is widely recognized within the industry and has earned 26 awards from various organizations, none of which requires us to pay to participate. We won two consecutive Excellent E-Commerce Platform Award issued by AspenCore, the world’s largest media group within the technical electronics sector, and T50 Innovative B2B Companies of China issued by B2B Branch of China Electronic Commerce Association in 2017 and 2018. In 2019, our Company and Mr. Lei Xia, our chairman and CEO, were respectively honored with Excellent E-Commerce Platform Award and Excellent Manager of the Year Award issued by AspenCore. In the same year, our Company and Mr. Lei Xia respectively received the Award of Top 100 B2B Enterprises in China and the Award of Outstanding B2B Entrepreneur in China issued by Third China B2B Summit Organization Committee.