LZ Technology Holdings Seeks Public Investment

LZ Technology Holdings has recently taken a significant step towards the possibility of becoming a publicly traded company by submitting an initial public offering (IPO) with the U.S. Securities and Exchange Commission last week.

LZ Technology Holdings, the parent company of Lianzhang Portal, a Chinese subsidiary specializing in technology for managing building access in residential communities and offering advertising services, has disclosed its intention to list its class B shares on the Nasdaq Capital Market using the ticker symbol LZMH. It is worth noting that each class A share offers 10 votes, while each class B share offers a single vote.

The company has not revealed the number of shares it plans to offer or the expected price range, but it has stated its intent to use the proceeds from the IPO for research and development, international expansion, strategic acquisitions, marketing, and working capital.

In 2022, LZ Technology Holdings registered a loss of CNY14.8 million ($2.04 million) despite generating revenue of CNY163 million during the same period.

Andong Zhang, the company’s Chairman, owns approximately 82% of the voting shares in the company as of the filing for the IPO. Meanwhile, the company’s Chief Financial Officer, Weihua Chen, controls 11% of the voting shares.

EF Hutton has been appointed as the underwriter for the offering.

Interested parties and potential investors may direct their inquiries to Ben Glickman at [email protected].

The decision by LZ Technology Holdings to pursue an IPO represents a crucial step in its efforts to secure the necessary resources for expansion, development, and progress. As the company progresses towards the public market, it promises to be an intriguing development for individuals with a keen interest in the technology and investment sectors.