ZK International wins bid with one of China's largest suppliers of gas, ENN Energy

Rhea-AI Summary

ZK International Group (Nasdaq: ZKIN) has secured a significant contract for pressed-type carbon steel pipes with ENN Energy Holdings, one of China's largest clean energy distributors. This win highlights ZK's manufacturing quality and innovation, having consistently met ENN's stringent supplier standards. ENN plans to enhance its future projects with more stainless-steel piping systems, emphasizing the advantages of ZK's products, including faster installation and fewer potential leak points. ZK, involved in sustainable engineering solutions, aims to leverage China's $850 billion commitment to improve water quality.

Positive

• ZK International won a contract with ENN Energy, enhancing its market position.
• ENN's commitment to using ZK's stainless-steel pipes indicates strong product demand.
• ZK's pipe solutions are recognized for faster installation and reduced leak risks.

Negative

• None.

WENZHOU, China, May 18, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to announce that the Company has won the strongly contested Pressed-type Carbon Steel Pipe Procurement contract with ENN Energy Holdings Limited ("ENN"), which is one of the largest clean energy distributors in China. The principal business of the ENN Group is the investment in the construction, operation, management of gas pipeline infrastructure, vehicle and ship refueling stations, integrated energy projects, the sales and distribution of piped gas, LNG and other multi-energy products.

ENN Energy Holdings Limited, a flagship division of ENN Group, has been engaged in the urban pipeline gas business since 1992. As one of the largest clean energy distributors in China, and an integrated energy service provider, it has formed four core businesses through continuous strategic upgrading - natural gas sales, integrated energy services, energy trade, and energy transmission and distribution.

Mr. Jiancong Huang, Chairman and CEO of ZK International, stated, "We are pleased that ENN recognizes ZK for its quality and innovation. ZK International is approved by ENN as a Qualified Stainless Steel Gas Pipe Supplier and has consistently passed its annual comprehensive assessment, which further solidifies our manufacturing quality, capability and integrity with globally recognized corporations such as ENN. ENN China strictly enforces a high standard of selecting gas pipeline suppliers it does business with as the instances of gas leakage can be fatal. Therefore, the quality of the manufacturing and the experience of ZK is essential and it is for this reason, ENN has committed to adopting more stainless-steel piping systems in its future residential gas pipeline projects. The driver behind the commitment is the increased market recognition of stainless-steel pipe and press-fit connection solution such as ZK's as compared to those of traditional PVC pipes."

ZK International's stainless-steel pipe and press-fit connection advantages are as follows:

• Easy installation and handling.
• Connecting solution is 2.5 times faster than old-fashioned threading pipe system.
• Wide choices of system design options
• Easy to assemble fittings, no special tools required
• Expansion of new gas appliances or additions to homes made easy
• Fewer joints, less potential leak points than in galvanized pipe or copper pipe systems
• No pipe cutting and threading or heavy equipment needed.

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 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. 

In March of 2021, ZKIN announced the formation of its new wholly-owned subsidiary, xSigma Entertainment Limited. It was established as part of ZK's integrated network of companies focused on developing and investing in innovative software technology platforms. xSigma Entertainment's mandate is to acquire assets in the high-growth US gaming market. Sigma Entertainment aims to increase shareholder value by targeting and investing in early stage online gambling businesses that are poised for exponential growth and exits. 

For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company'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 guarantees 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.

Investor Contact:

Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386

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SOURCE ZK International Group Co., Ltd.

FAQ

What is the recent contract won by ZK International (ZKIN)?

ZK International won a contract for pressed-type carbon steel pipes with ENN Energy Holdings.

How does ENN Energy Holdings view ZK International's products?

ENN Energy recognizes ZK for its quality and innovation, having approved it as a Qualified Stainless Steel Gas Pipe Supplier.

What are the advantages of ZK International's pipe systems?

ZK's systems offer easy installation, faster connection solutions, fewer potential leak points, and no need for heavy equipment.

How is ZK International positioned in the market with ENN Energy?

Winning the contract with ENN Energy solidifies ZK's reputation and capability in the clean energy sector.