ZK International Group Co., Ltd (NASDAQ: ZKIN) is a China-based engineering company building and investing in innovative technologies for the modern world. With a focus on designing and implementing next-generation solutions through industrial, environmental and software engineering, ZKIN owns 46 patents, 46 trademarks, 5 Software Copyrights, 2 National Innovation Fund Awards, and 41 National and Industry Standard Awards. Â
ZKIN’s core business is to engineer and manufacture patented high-performance stainless steel and carbon steel pipe products that effectively deliver high quality, highly-sustainable and environmentally sound drinkable water to the Chinese, Asia and European markets. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee. It has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the “Water Cube” and “Bird’s Nest”, which were venues for the 2008 Beijing Olympics. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which has been stated to be 70% unfit for human contact.
On December 19, 2023, the company announced it had won an $8 million contract in collaboration with the $1.5 billion dollar, Chongqing Gas Group. The win cements its position as a key player in Western China’s gas market.
Details of the ZK International Collaborative Deal
Chongqing City is China’s fourth largest city, with an urban population of 16.34 million. ZK International’s $8 million bid is part of Chongqing Gas Group’s infrastructure procurement program for gas piping infrastructure for Chongqing City.
The deal is part of China’s 2020 initiative through the Ministry of Ecology and Environment. Via the initiative, China aims to replace coal with clean energy heating for 7.09 million households in the north. It has led to a rising demand for natural gas and piping infrastructure.
The Chongqing Gas Group has been an industry leader in the urban pipeline gas business since 1995. Its shares trade on the Shanghai Stock Exchange (SSE) with a market cap of $1.5 billion with $1.22 billion in annual revenue.
What Leadership Had to Say
Mr. Jiancong Huang, Chairman of ZK International, commented on the deal. He stated that they were pleased to have been picked as a critical player for the projects. He added that they were excited by the success of the bid. According to Huang, the deal is part of other vital pending contracts. Once complete, it will allow them to expand their presence in Western China.
Stock Performance
ZKIN stock was up 11.65% at close of trading on December 18, 2023. It was valued at $1.15 per share. ZKIN surged more than 30% to new 52-week highs yesterday. Year-to-date, the stock is up +173.81%.
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