WENZHOU, China, Aug. 9, 2022
/PRNewswire/ -- ZK International Group Co.,
Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or
the "Company"), is pleased to announce that ZK International
continues its success with procuring projects throughout
China. Recently, ZK International
has won a $75 million bid in the
project known as the "Shenzhen Water Market Project", where
companies bided to be the supplier of the stainless-steel pipes and
fittings supplier of "High Quality Drinking Water Household
Project" (Phase 7 and 8) and "Community Water Supply Network
Renovation Project" (phase 7 and 8).
The total investment of these projects is approximately around
US$600 million, of which stainless
steel pipes and fittings account for 17% of the total investment
being made of about US$75 Million
dollars. ZK International anticipates it will supply
approximately 40% of the projects, giving ZK approximately
US$30 million dollars in sales.
Mr. Jiancong Huang, Chairman and
CEO of ZK International stated, "Despite many adverse factors such
as the COVID-19 pandemic shut-downs in China, soaring nickel price, supply chain
challenges, and the fluctuations in the capital markets, our
management team and all of our employees at ZKIN remain committed
to overcome these challenges. The success of winning these
bids and enduring the various stages of the bidding process is a
testament to our excellent sales and marketing team who continue to
bring profit to ZKIN despite these challenges."
Mr. Jiancong Huang, contines, "ZK
International's team will continue to strive to provide customers
with competitive, safe and reliable piping system products and
related solutions and services in China and internationally. The Company
is targeting the global construction water supply markets, gas,
home decoration, firefighting, HVAC, siphon drainage and other
fields. In the future, ZK International expects to win additional
bids on various projects in China.
We look forward to sharing these good news in the near future."
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. xSigma 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
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
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SOURCE ZK International Group Co., Ltd.