Welcome to our dedicated page for ZK International Group Co. Ordinary Share news (Ticker: ZKIN), a resource for investors and traders seeking the latest updates and insights on ZK International Group Co. Ordinary Share stock.
ZK International Group Co., Ltd. (NASDAQ: ZKIN) is a leading manufacturer and designer of high-performance stainless steel piping solutions, committed to delivering clean water and gas distribution infrastructure across China. ZK International specializes in producing a variety of metal pipes, including double-press thin-walled stainless steel tubes and fittings, carbon steel tubes, and stainless steel strips. Their cutting-edge products cater to diverse sectors such as restaurants, hotels, hospitals, firefighting, food and beverage, shipping, industrial seawater desalination, and direct-drinking water systems.
Recent Achievements and Financial Overview:
In 2016, ZK International reported a net income of $5.3 million with a revenue of $36.8 million. In recent developments, ZKIN shares have experienced a significant surge, increasing by 139% since November 2023. This growth is fueled by strategic deals, including an $8 million contract with Chongqing Gas Group, solidifying ZK International's stance in the Western China gas market.
As part of the company's expansion, ZKIN announced a $5 million Share Purchase Agreement with the CF Opportunity Fund, reinforcing investor confidence. Additionally, ZK International has complied with Nasdaq's minimum bid price requirements, ensuring continued listing on the exchange.
ZK International is also making strides in penetrating new markets in Southeast Asia and the Middle East, forming strategic partnerships to integrate seamlessly into these regions. Their dedication to sustainability is evident, with projects aimed at improving water quality and infrastructure.
Key Projects and Recognitions:
ZK International has supplied high-performance stainless steel pipelines for over 2,000 projects, including prestigious ones like the Beijing National Stadium (Bird’s Nest) and Beijing International Airport. The company holds 33 patents, 21 trademarks, and numerous awards, ensuring adherence to national and industry standards. With certifications in Quality Management (ISO9001) and Environmental Management (ISO1401), ZK International is poised to capitalize on the Chinese government's $850 billion commitment to enhancing water quality, addressing a significant market need.
Products and Services:
ZK International offers a robust portfolio of products including:
- Double-press thin-walled stainless steel tubes and fittings
- Carbon steel tubes and fittings
- Single-press tubes and fittings
- Stainless steel strips
These products are designed to meet the highest standards, ensuring reliability and durability for large-scale infrastructure projects. The company's innovative approach and commitment to quality make it a preferred partner for urban planners, real estate developers, and municipal authorities.
Future Prospects:
Looking ahead, ZK International plans to leverage its strong market position, pioneering product innovations, and strategic partnerships to drive further growth. The company is well-positioned to play a crucial role in global infrastructure development, particularly in the water and gas sectors.
For more information, visit ZK International Group.
ZK International Group (Nasdaq: ZKIN) has announced a 1-for-7 reverse stock split of its ordinary shares, effective January 31, 2025. The reverse split, approved by the Board on January 14, 2025, aims to meet NASDAQ's $1.00 minimum bid price requirement for continued listing.
Following the split, every 7 shares will automatically convert into one share, with fractional shares rounded up to the next whole number. The Company's outstanding shares will decrease from 36,147,625 to approximately 5,163,946 shares. The stock will continue trading under the symbol 'ZKIN' with a new CUSIP number G9892K209.
Shareholders holding shares in book-entry form or through nominees need not take action. Those with physical certificates will receive book-entry shares, with further instructions coming from Securities Transfer
ZK International Group Co., (NASDAQ: ZKIN) has announced a shareholder conference call scheduled for February 7, 2025, at 5:00 PM PST to discuss the company's achievements and future plans. The company reported significant financial improvements in Fiscal Year 2024, including:
- 405% increase in gross profit
- Revenues of $108.20 Million
- 95.44% reduction in net losses
During the call, management will share details about upcoming announcements, innovative projects, and discuss the company's long-term vision for creating shareholder value through diversification, operational improvements, and new market opportunities. Chairman Jiancong Huang highlighted 2024 as a transformative year and expressed optimism about the company's momentum entering 2025.
ZK International Group (ZKIN) reported significant financial improvements for fiscal year 2024 ended September 30. Despite a 3.05% revenue decrease to $108.20 million, the company achieved a remarkable 405% increase in gross profit to $6.55 million, with gross margin improving to 6.5% from 1.16%.
The company substantially reduced its net loss by 95.44% to $2.78 million, compared to $61.06 million in FY2023. Loss per share improved to $0.08 from $1.94. The improved performance was primarily driven by increased weighted average selling prices and reduced one-off asset impairment costs.
Looking ahead, ZKIN expects gross profit margins of 10-12% for FY2025, supported by increased public sector investment and market recovery. The company plans to continue raising average selling prices to improve margins, leveraging its expanded market share and favorable market conditions.
ZK International Group (Nasdaq: ZKIN) announces plans to accept cryptocurrency payments, including Bitcoin, to enhance transactions with international suppliers, vendors, and local customers in China. The initiative aims to simplify cross-border transactions, reduce currency exchange barriers, and improve operational efficiency. The company is working with technical teams and financial service providers to implement a secure cryptocurrency payment system while ensuring regulatory compliance.
ZK International Group Co., (Nasdaq: ZKIN) has secured a significant contract with Shenzhen Gas Group for the Shenzhen Municipal Infrastructural Gas Pipeline Procurement Project, valued at approximately $4.47 million. The project involves providing state-of-the-art crimped carbon steel pipes and fittings for gas engineering in multi-story residential buildings across Shenzhen.
This contract win reinforces ZK International's leadership in the gas infrastructure sector and aligns with China's ambitious economic stimulus package, which is expected to boost various sectors, including construction and infrastructure. The company's innovative crimped carbon steel pipes offer advantages over traditional galvanized and iron pipes in terms of safety, longevity, and cost-efficiency.
ZK International has already seen a 9% increase in revenue, reaching $111.6 million in its most recent financial report, with its Chinese operations contributing a $2 million net income. The additional momentum from the government's economic initiatives is expected to enhance this growth trajectory.
ZK International Group Co., (ZKIN) reported record revenue of $52.89 million for the first half of fiscal year 2024, a 6.5% increase from the same period last year. The company, which manufactures stainless steel and carbon steel pipe products, saw increased demand due to real estate market recovery. Despite higher revenue, ZKIN experienced a net loss of $0.48 million, compared to a $0.06 million loss in the previous year. Gross profit rose by 5.68% to $3.35 million, but gross margin slightly declined to 6.33% due to rising raw material costs. The company's financial condition shows a current ratio of 1.55 as of March 31, 2024, with cash and equivalents totaling $5.06 million.
ZK International Group Co., (Nasdaq: ZKIN) has announced two important updates regarding its Nasdaq listing status. Firstly, the company has regained compliance with Nasdaq's periodic filing requirements by timely filing its annual report on August 13, 2024. This resolves the previous notification of non-compliance received on February 20, 2024.
Secondly, ZKIN has been granted an additional 180-day period, until February 10, 2025, to regain compliance with Nasdaq's minimum $1 bid price requirement. This extension was given based on the company's compliance with other listing requirements and its written intention to cure the deficiency. To regain compliance, ZKIN's closing bid price must meet or exceed $1.00 per share for at least 10 consecutive business days during this period.
ZK International Group Co., (ZKIN) reported its audited financial results for the fiscal year ended September 30, 2023. The company achieved record revenues of $111.60 million, an 8.99% increase from the previous year. However, ZKIN faced significant challenges, including:
- A sharp decline in gross profit to $1.30 million, down 82.93%
- An operating loss of $60.44 million, compared to a $3.96 million loss in 2022
- A net loss of $61.06 million, or $1.94 per share
The company attributed these losses primarily to one-off asset impairment costs of $53.20 million, mainly from writing off long-term investments and software platforms. Despite these setbacks, ZKIN's Chairman expressed confidence in the company's future growth prospects and streamlined operations.
ZK International Group Co., (Nasdaq: ZKIN) has announced a $2 million investment in Recruiter.com Group, Inc. (Nasdaq: RCRT). The investment involves purchasing 2 million shares of Recruiter.com's common stock at $1.00 per share, with a six-month option to buy an additional 2 million shares at the same price. This transaction, completed on July 12, 2024, is exempt from SEC registration requirements under Regulation S. ZKIN also entered into a Registration Rights Agreement with Recruiter.com, requiring the filing of a Form S-3 registration statement within 150 days. Additionally, ZKIN plans to issue a share dividend to its shareholders from this investment, subject to board approval, aiming to enhance shareholder value.
ZK International Group Co. (Nasdaq: ZKIN) has been granted another extension by Nasdaq to file its Form 20-F for the fiscal year ended September 30, 2023.
The initial extension set the deadline at June 7, 2024, but after a subsequent request, the deadline has been further extended to August 13, 2024. This additional time allows ZK International to complete and submit its annual report. However, if the company fails to meet this new deadline, Nasdaq will issue a written notification of delisting. ZK International will then have the option to appeal Nasdaq's decision and request a hearing.
The company remains committed to meeting all regulatory requirements and appreciates Nasdaq's willingness to provide this additional time.
FAQ
What is the current stock price of ZK International Group Co. Ordinary Share (ZKIN)?
What is the market cap of ZK International Group Co. Ordinary Share (ZKIN)?
What does ZK International Group Co., Ltd. specialize in?
Where is ZK International listed?
What are some notable projects by ZK International?
How is ZK International expanding its market presence?
What recent financial achievements has ZK International made?
What are ZK International's future growth prospects?
How does ZK International ensure product quality?
What types of products does ZK International offer?
How is ZK International contributing to sustainability?
What strategic deals have recently benefited ZK International?
