ZK INTERNATIONAL ANNOUNCES NEW CONTRACTS WITH TOTAL CONTRACT AMOUNT OF USD $5 MILLION IN THE LAST MONTH OF 2021

Rhea-AI Summary

ZK International Group Co. Ltd. (Nasdaq: ZKIN) announced a successful end to 2021, securing contracts worth $5 million in December alone. Despite challenges such as rising raw material costs and the impacts of new COVID-19 variants, the company's marketing team has managed to win several municipal water project contracts. Key projects include a $2.8 million contract for the Shenzhen Longgang Drinking Water Project, among others. Chairman Jiancong Huang expressed pride in the team's efforts to build partnerships amid tough industry conditions.

Positive

• Secured contracts totaling $5 million in December 2021.
• Major contract wins include $2.8 million for Shenzhen Longgang Drinking Water Project.
• Expansion of working relationships with municipal water supply entities.

Negative

• None.

WENZHOU, China, Jan. 13, 2022 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to announce that ZK International has completed the year on a high note by being able to win project bidding and bring contracts with total contract sales amount of $5 million during the month of December 2021. Though under the influence of many unfavorable factors such as the new variant epidemic, soaring raw material costs, energy restrictions and electricity curtailment, the marketing team of ZK International have worked hard to overcome these difficulties and signed contracts to supply piping products for several municipal water projects.

The contracts that have been signed are as follows:

• Contract with Shenzhen Longgang High-quality Drinking Water Project with contract sales amount of $2.8 million.
• The City of Zhangjiajie has signed a contract with contract sales amount of $0.9 million.
• The City of Changning has signed a contract with contract sales amount of $1.1 million.
• Contract with Wuhan Jiangxia Water Supply Installation Project with contract sales amount of $0.2 million.

Mr. Jiancong Huang, Chairman of ZK International, commented, "We are pleased to be selected amongst several of our competitors during all these bidding processes as well as begin new working relationship with the new clients. 2021 has been a tough year for all industries. We are proud of all our staff for working hard and expanding working relationship with municipal water supply bodies in various cities."

About ZK International Group Co., Ltd.

ZK International Group Co., Ltd. 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 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 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. 

In 2018, ZKIN established its wholly-owned xSigma Corporation to develop innovative software solutions that support its core operations while exploring new opportunities in smart contracts, distributed ledgers, supply chain management NFTs, and blockchain architecture. The xSigma Labs team is made up of world-class developers and engineers formerly of Facebook, Google, Amazon, Ripple and 1inch, most recently launching its first DeFi project in the Fall of 2020.

For more information, please visit www.ZKInternationalGroup.com. Additionally, please follow ZK International on Twitter, Facebook, YouTube, and Weibo. For further information on ZK International's SEC filings please visit www.sec.gov.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantee of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company's filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact:
Di Chen
Cell Number: +86 15057357883
Email: super.di@live.cn

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SOURCE ZK International Group Co., Ltd.

FAQ

What is significant about ZK International's recent contracts?

ZK International secured contracts worth $5 million in December 2021, indicating strong market performance despite challenges.

How much did ZK International earn from the Shenzhen Longgang Drinking Water Project?

The Shenzhen Longgang Drinking Water Project contract is valued at $2.8 million.

What challenges did ZK International face while securing contracts?

ZK International faced rising raw material costs, energy restrictions, and the impacts of the new COVID-19 variant.

What was the total contract amount ZK International announced?

ZK International announced a total of $5 million in contracts won in December 2021.

Who is the Chairman of ZK International and what did he say about the contracts?

Chairman Jiancong Huang expressed pride in the team's efforts to secure new contracts and work with municipal water supply bodies.