LZ Technology Holdings Files for IPO

LZ Technology Holdings IPO: LZ Technology Holdings on Friday filed an initial public offering with the US Securities and Exchange Commission.

LZ Technology is a holding company of China’s subsidiary Lianzhang Portal, which provides technology for building access control in residential communities. It also serves ads.

LZ Technology Holdings on Friday filed an initial public offering with the US Securities and Exchange Commission.LZ Technology is a holding company of China’s subsidiary Lianzhang Portal, which provides technology for building access control in residential communities. It also serves ads.

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The company used to list its Class B shares on the Nasdaq stock market under the ticker LZMH. The company’s Class A shares carry 10 votes each, while Class B shares have one vote.

LZ Technology did not say how many shares it will offer or give an expected price range.

The company said it plans to use research and development, international expansion, strategic acquisitions, marketing and working capital.

In 2022, the company lost 14.8 million yuan ($2.04 million) in revenue from 163 million yuan.

Chairman Andong Zhang is listed as owning nearly 82% of the voting shares in the company before the offering, while Chief Financial Officer Weihua Chen controls 11% of the voting shares.