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.
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.
ZK International Group Co., Ltd. Accelerates Growth with Corporate Update: Website Launch, Rebranding, Successful $8 Million Bid, $5 Million Financing, and Nasdaq Compliance
On December 28, 2023, ZKIN shared a corporate update highlighting recent developments and the launch of its new website.
Website Launch and Rebranding: A Digital Transformation
In a move to provide a more engaging and informative experience, ZK International proudly unveils its redesigned website. This visually stunning and user-friendly platform showcases our core businesses, diverse product portfolio, highlights key projects, and serves as a dynamic hub for the latest industry insights on the Company. Explore the revamped website at www.zkinternationalgroup.com.
“Our enhanced website is a reflection of our dedication to transparency and accessibility,” said Mr. Jiancong Huang, Chairman at ZK International. “It’s not just a digital facelift; it’s a strategic tool for fostering connections with our stakeholders.”
Securing Contracts: Fortifying Our Market Presence
ZK International recently achieved a significant milestone by securing a $8 million bid in collaboration with Chongqing Gas Group. This success is a testament to our commitment to excellence, quality, and customer satisfaction, reinforcing our competitive edge in the Western China Gas Market.
“We are excited about the momentum we are building in the market and are grateful for the trust our partners place in us,” added Chairman Huang. “This successful bid is a significant step in our strategic growth plan and highlights our dedication to delivering outstanding solutions to our clients.”
$5 Million Financing: Fueling Future Expansion
In a move to capitalize on our market momentum, ZK International has successfully closed a $5 million financing above the market. This strategic funding positions the Company for accelerated growth and international expansion, further solidifying our position as an industry leader.
“This financing round is a testament to the confidence investors have in ZK International’s vision and growth trajectory,” noted Mr. Jiancong Huang. “We are strategically leveraging this capital injection to fuel our expansion plans both domestically and internationally and enhance our capabilities on a global scale.”
ZK International remains steadfast in its commitment to sustainability, innovation, and meeting the evolving needs of the industries we serve. We look forward to a future filled with exciting opportunities, continued growth, groundbreaking achievements, and increasing shareholder value.
Nasdaq Compliance
In addition, ZK International Group Co., Ltd. is pleased to announce that it is Nasdaq compliant, having successfully resolved the bid price deficiency concern. The Nasdaq Listing Qualifications staff has confirmed the company’s compliance with all applicable listing standards. The company expresses gratitude to Donohoe Advisory Associates LLC for their professionalism and expertise in guiding us through this matter.
Mr. Jiancong Huang, Chairman of ZK International Group, stated, “We are thrilled to announce these positive developments as we continue to strengthen our position in the stainless steel industry. The launch of our new website reflects our commitment to providing a seamless and informative experience for our stakeholders. Our planned expansion into international markets is a testament to our dedication to meeting the growing global demand for high-quality stainless steel products and sustainable infrastructure solutions.”
ZK International Group Co., Ltd., Wins $8 Million Bid with Chongqing Gas Group to Supply the Municipal Gas Infrastructure Project, thus Strengthening its Competitive Edge in the Western China Gas Market
On December 19, 2023, ZKIN announced a new marketing and sales achievement. The Company has successfully secured an $8 million bid in collaboration with Chongqing Gas Group, bolstering its new position as a key player in the Western China gas market.
Chongqing City, the fourth largest Chinese city with an estimated urban population of 16.34 million, is set to benefit from ZK International’s expertise. The $8 million bid pertains to the gas piping infrastructure procurement program initiated by the Chongqing Gas Group for its municipal gas piping infrastructure project.
China’s Ministry of Ecology and Environment’s 2020 initiative to replace coal with clean energy in the heating systems of 7.09 million households in the northern provinces has spurred a surge in demand for natural gas and gas piping infrastructure. Chongqing Gas Group, a flagship division of China Resources Gas Group Limited, has been a pioneer in the urban pipeline gas business since 1995. As a key player in the energy sector, it has evolved into an integrated energy service provider with core businesses encompassing natural gas sales, integrated energy services, energy trade, and energy transmission and distribution. Chongqing Gas Group Co., Ltd., is listed on the Shanghai Stock Exchange, under the stock code 600917 and has a market capitalization of $1.5 Billion with annual sales of $1.22 Billion in revenue.
Mr. Jiancong Huang, Chairman of ZK International, commented, “We are pleased to be selected as a key supplier for the municipal natural gas infrastructure program amongst several of our competitors during this bidding process as well as to start a new working relationship with Chongqing Gas Group. We are excited that this bidding success, along with other key pending contracts and agreements will allow us to expand our presence to Western China in Chongqing city.”
About Chongqing Gas Group.
Chongqing Gas Group is a China-based company principally engaged in gas-related businesses. The Company’s main businesses are pipeline gas supply, installation services of gas facilities and equipment, comprehensive services, and comprehensive energy. Chongqing Gas Group’s service network covers 26 administrative regions in Chongqing Municipality and Baojing County in Hunan Province, serving 5.64 million households. Chongqing Gas Group Co., Ltd. is a listed company controlled by China Resources Gas Holdings Co., Ltd., and was listed on the Shanghai Stock Exchange on September 30, 2014, stock code: 600917.
ZK International Group Announces Record Revenue of $49.66 Million, an Increase of 15.77% for the First Half of Fiscal Year 2023
On September. 29, 2023, ZKIN announced its unaudited financial results for the six months ended March 31, 2023.
Revenue
The revenue for the six months ending March 31, 2023, increased by $6,764,742 or 15.77%, reaching $49,655,399 compared to $42,890,657 for the corresponding period in 2022. The rise in raw material costs, particularly the price of nickel, a crucial component of stainless steel, was observed during the first fiscal half of 2023.
To mitigate the impact of the increased raw material prices, we adjusted our weighted average selling price (“ASP”) during this period. The boost in sales can also be attributed to the recovery of domestic demand, leading to an overall increase in sales volume.
Gross Profit
The gross profit for the six months ending March 31, 2023, decreased by $798,467 or 20.13%, amounting to $3,168,642 compared to $3,967,109 for the same period in 2022. The gross profit margin dropped to 6.38% from 9.25% for the respective periods.
The decline in gross profit was primarily due to the escalation in raw material costs, especially the cost of stainless steel coil, a primary material used to create products.
Despite the increase in Average Selling Price (ASP), certain customers were supplied on a fixed-price basis, and adjustments were not possible until the expiration of existing contracts.
ZK International Group Announces a $5M Passive Investment Commitment from CF Opportunity Fund
On November 29, 2023, ZKIN announced that it secured a financial boost through a $5 million passive investment commitment from the CF Opportunity Fund, a fund based in the Bahamas. Acting as the exclusive placement agent, Univest Securities played a pivotal role in facilitating this strategic financing, marking a noteworthy milestone in ZK International Group’s pursuit of enhanced growth and innovation.
The investment will be conducted through three separate subscriptions, demonstrating a structured approach that reflects a long-term belief in the company’s vision and future. An initial investment of $1.5 million will be completed within three business days after signing the Securities Purchase Agreement, providing crucial capital support at a pivotal moment.
The agreed per-share price for this initial closing stands at $1.70 per share. Subsequently, an additional $2 million investment is scheduled within 60 days from the Initial Subscription Date, further reinforcing CF Fund’s confidence in the company’s vision.
The final investment of $1.5 million will be concluded within 60 days from the Second Subscription Date, with the per-share price for this closing set at 165% of the higher of the Initial Bid Price or the closing bid price as of the trading day immediately before the Third Closing Date or the average closing bid price during the five trading days immediately before the Third Subscription Date.
NASDAQ: $ZKIN – ‘Strong Buy’ Rating, Other Buy Signals and Price Forecast
The Barchart Technical Opinion rating for ZK International Group (NASDAQ: $ZKIN) is currently listed as a ‘Strong Buy‘, with a, 88% Buy overall with a Strengthening short term outlook on maintaining the current direction.
The stock of ZK International Group has also received buy signals from both short and long-term Moving Averages, indicating a positive outlook for the stock. There is a general buy signal from the relationship between the two signals, where the short-term average is above the long-term average.
Moreover, a buy signal has been identified from the 3-month Moving Average Convergence Divergence (MACD), and ZK International Group has witnessed increased volume following the recent uptick in the price, considered a positive technical indicator, as volume typically follows price movements.
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