<SEC-DOCUMENT>0001193125-21-254112.txt : 20230411
<SEC-HEADER>0001193125-21-254112.hdr.sgml : 20230411
<ACCEPTANCE-DATETIME>20210823171519
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-21-254112
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210823

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ICZOOM Group Inc.
		CENTRAL INDEX KEY:			0001854572
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ROOM 3801, BUILDING A, SUNHOPE E-METRO
		STREET 2:		NO. 7018 CAI TIAN ROAD, FUTIAN DISTRICT
		CITY:			SHENZHEN, GUANGDONG
		STATE:			F4
		ZIP:			518000
		BUSINESS PHONE:		86 755 88603072

	MAIL ADDRESS:	
		STREET 1:		ROOM 3801, BUILDING A, SUNHOPE E-METRO
		STREET 2:		NO. 7018 CAI TIAN ROAD, FUTIAN DISTRICT
		CITY:			SHENZHEN, GUANGDONG
		STATE:			F4
		ZIP:			518000
</SEC-HEADER>
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 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ICZOOM GROUP INC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">August 23, 2021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Via Edgar </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Scott Stringer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Energy&nbsp;&amp; Transportation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and
Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C.,
20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>ICZOOM Group Inc. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Amendment No.&nbsp;2 to Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Submitted July&nbsp;9, 2021 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>CIK No.&nbsp;0001854572 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
Mr.&nbsp;Scott Stringer: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This letter is in response to the letter dated July&nbsp;23, 2021, from the staff (the &#147;Staff&#148;) of the Securities and
Exchange Commission (the &#147;Commission&#148;) addressed to ICZOOM Group Inc. (the &#147;Company,&#148; &#147;we,&#148; and &#147;our&#148;). For ease of reference, we have recited the Commission&#146;s comments in this response and numbered them
accordingly. An amended Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> (the &#147;Registration Statement&#148;) is being filed to accompany this letter. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Amendment No.&nbsp;2 to Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">F-1</FONT> </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>General </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1. In light of recent events that indicate
greater oversight by the Cyberspace Administration of China (CAC) in terms of data security, particularly for companies seeking to list on a foreign exchange, please revise the prospectus as applicable to explain in greater detail how this greater
oversight will impact your business and operations and this offering. Additionally, please address to what extent you believe that you are compliant with the regulations or policies that have been issued by the CAC to date, including any proposed
regulations or policies, and whether you will be required to submit a cybersecurity checkup before commencing this offering. Please also address any potential risks from <FONT STYLE="white-space:nowrap">non-compliance</FONT> with any CAC
regulations, policies or clearances. Please provide similar disclosure, as necessary, relating to the Data Security Law recently promulgated by the SCNPC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response</B><B>: </B>In response to the Staff&#146;s comments, we added our disclosures with regard to the greater oversight by the Cyberspace
Administration of China (CAC), the relevant rules under Data Security Law, as well as our compliance therewith as of the date hereof on page 47 of the Registration Statement under &#147;Risk Factors&#151;Risks Related to Doing Business in
China<I>&#151;</I><I>Risks Related to Doing Business in China - In light of recent events indicating greater oversight by the Cyberspace Administration of China over data security, particularly for companies seeking to list on a foreign exchange, we
may be subject to a variety of PRC laws and other obligations regarding cybersecurity and data protection, and any failure to comply with applicable laws and obligations could have a material and adverse effect on our business, our listing on the
Nasdaq Capital Market, financial condition, results of operations, and the offering</I>.&#148; and on page 149 of the Registration Statement under &#147;Regulations - <I>Regulations on Internet Information Security and Privacy
Protection</I><I>.</I>&#148; Further, we added our disclosure on page 48 and 151 of the Registration Statement to state that we have not received any notice from any authorities requiring us to undertake a cybersecurity review by the CAC and that we
have not been subject to any penalties, fines, suspensions, investigations from any competent authorities for violation of the regulations or policies that have been issued by the CAC to date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Address: Room 102,
Technology Building, International e-Commerce Industrial park, 105Meihua Rd, Futian District, Shenzhen </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Our current corporate structure and business operations..., page 37 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2. You note that if control over your consolidated VIE is deemed to be a foreign investment, and your VIE conducts any business that is
&#147;restricted&#148; or &#147;prohibited&#148; from foreign investment on the &#147;negative list,&#148; you may be deemed in violation of the Foreign Investment Law. Please revise to clearly state how the business activities of each of your
wholly-owned PRC subsidiaries are characterized under the Foreign Investment Law, and whether any of the current or proposed business activities of the PRC subsidiaries are on the negative list. Please also expand your risk factor disclosure here,
or elsewhere as appropriate, to provide a discussion of any material risks related to effecting an initial public offering in a foreign jurisdiction. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response: </B>In response to the Staff&#146;s comments, we revised our disclosure on page 42 of the Registration Statement to state that the current
business activities of our PRC subsidiaries are not on the &#147;negative list&#148;, that foreign investors are allowed to hold 100% equity interests of our PRC subsidiaries under the Foreign Investment Law, and that we have no plans at the present
to change our PRC subsidiaries&#146; business activities in the future. Further we added disclosure on page 18 and 79 of the Registration Statement under &#147;Corporate Information&#151;<I>Permission Required from the PRC Authorities for the
VIE</I><I>&#146;</I><I>s Operation.</I>&#148; The disclosure of the relevant risk factors were added on page 45 of the Registration Statement under &#147;Risk Factors&#151;Risks Relating to Doing Business in China&#151;<I>The Chinese government
exerts substantial influence over the manner in which we must conduct our business activities</I><I>&#133;</I><I>&#148;</I> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Managements Discussion and
Analysis of Financial Condition and Results of Operations</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Key Financial Performance Indicators, page 74 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>3. We note in response to comment 4 you replaced customer retention rate with disclosure of the number of repeat customers. You measure repeat customers as
&#147;the number of the customers who made orders in the current period with transaction records with us in the last five fiscal years.&#148; Please explain in further detail why you believe there is value to potential investors in measuring the
frequency of repeat customers over an extended period of five years when you operate within an industry subject to short product life, evolving technologies and customers with frequent purchase needs. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:</B> In response to the Staff&#146;s comments, we added the disclosure on page 88 of the Registration Statement to explain that our customers are
mainly small and medium-sized enterprises (the &#147;SMEs&#148;) who rely on our <FONT STYLE="white-space:nowrap">e-commerce</FONT> platform for <FONT STYLE="white-space:nowrap">one-stop</FONT> procurement, as well as the <FONT
STYLE="white-space:nowrap">add-on</FONT> services to lower the total cost of procurement conducted by themselves. Even though the electronics industry is subject to short product life cycles, fast changing product trends, constantly evolving
technologies and customers with frequent purchase needs, our relatively short inventory turnover period and increasingly large number of the stock keeping units (the &#147;SKUs&#148;) enable us to satisfy our customers&#146; frequent, changing, and
various demands and further to maintain a long term business relationship with our customers. Therefore, such increased percentage of the repeat customers reflects the higher satisfactions and loyalty of our existing customers, as one of the
indicators of the performance of our services and business. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Executive Compensation, page 157 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>4. Please revise to update this section for the last full financial year. Please also revise the Related Party Transaction section on page 160 in a similar
manner. Refer to Items 6.B and 7.B of Form <FONT STYLE="white-space:nowrap">20-F.</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response: </B>In response to the Staff&#146;s comments,
we revised the executive compensation table and the disclosure under the Related Party Transaction section on page 170 and 174 of the Registration Statement, respectively. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Material PRC Income Tax Considerations, page 179 </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>5.
We note that the form of tax opinion filed as Exhibit 8.1 is a short-form tax opinion. The short-form tax opinion and the tax disclosure in the prospectus both must state clearly that the disclosure in the tax consequences section of the prospectus
is the opinion of counsel. Refer to Section III.B.2 of Staff Legal Bulletin No.&nbsp;19. Please revise this section and have counsel revise the tax opinion to state clearly that the tax consequences discussed in the referenced section is
counsel&#146;s opinion. A description of the law is not sufficient. Refer to Section III.C.2 of Staff Legal Bulletin No.&nbsp;19. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response: </B>In
response to Staff&#146;s comments, we have revised the preface of the Taxation section on page 193 of the Registration Statement. Further, we have filed the revised draft of the short-form tax opinion prepared by our PRC counsel, Han Kun Law
Offices, to the extent that the discussion relates to matters of PRC tax law as Exhibit 8.1 of the Registration Statement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Address: Room 102,
Technology Building, International e-Commerce Industrial park, 105Meihua Rd, Futian District, Shenzhen </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We thank the Staff for its review of the foregoing. If you have further comments, we ask that you forward
them by electronic mail to our counsel, Arila Zhou at azhou@htflawyers.com or by telephone at 212-530-2207. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:53%; font-size:10pt; font-family:Times New Roman">Very truthfully yours, </P>
<P STYLE="font-size:30pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Lei Xia</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:0pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lei Xia</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chief Executive Officer and
Director</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">CC:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Arila Zhou, Esq. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">Hunter</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Taubman Fischer&nbsp;&amp; Li LLC </P></TD></TR></TABLE>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Address: Room 102,
Technology Building, International e-Commerce Industrial park, 105Meihua Rd, Futian District, Shenzhen </P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
