WENZHOU, China, Oct. 3, 2024
/PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq:
ZKIN) ("ZK International" or the
"Company") is proud to announce that it has secured a
significant contract with Shenzhen Gas Group for the Shenzhen
Municipal Infrastructural Gas Pipeline Procurement Project. This
project, valued at approximately $4.47
million, will involve the provision of state-of-the-art
crimped carbon steel pipes and fittings for gas engineering in
multi-story residential buildings across Shenzhen.
This contract win is a substantial achievement for ZK
International, reinforcing its leadership in the gas infrastructure
sector. Shenzhen Gas Group, a strong proponent of crimped carbon
steel pipelines for urban use, is at the forefront of implementing
this technology across multiple Chinese cities. ZK International's
partnership with Shenzhen Gas Group demonstrates the Company's
commitment to delivering high-quality and innovative pipeline
solutions and positions it as a key player in the urban gas
infrastructure expansion across multiple cities in China.
With the adoption of this technology, ZK International is poised
to benefit further from the ongoing infrastructure development and
modernization across China's urban
regions, particularly given the strong backing of Shenzhen Gas
Group for the crimped carbon steel technology.
Innovation and Technological Leadership
For years, ZK International has adhered to its mission of
advancing technology and fostering innovation. The crimped
carbon steel pipes and fittings developed by Zhengkang
represent a leap forward in pipeline technology, offering
advantages over traditional galvanized and iron pipes in terms of
safety, longevity, and cost-efficiency. These products are
compliant with key industry standards, including CJ/T
433-2013, CECS 618-2019, and CJT/ZZB2044-2021,
for which Zhengkang served as a primary drafting unit.
The project in Shenzhen is just
one of many opportunities where these cutting-edge pipes are
expected to be applied in gas supply systems, fire protection, and
industrial transportation pipelines.
Economic Stimulus: A Catalyst for Further Growth
The timing of this contract award aligns with China's ambitious economic stimulus package,
aimed at revitalizing the country's economy through investment in
infrastructure, technological innovation, and industrial upgrades.
This package, introduced by the Chinese government, is expected to
boost various sectors, including construction and infrastructure,
further benefiting companies like ZK International that are poised
to capitalize on the surge in demand for modernized solutions.
With the Chinese government pouring resources into
infrastructure projects and technological advancements, ZK
International stands to benefit immensely. The Company 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, enabling ZK International to expand
its market presence and deliver even greater shareholder value.
Looking Ahead
As ZK International continues to win key contracts and leverage
the favorable economic environment, the Company is committed to
optimizing its pipeline technology, ensuring enhanced safety,
reliability, and sustainability. The future looks promising as ZK
International aims to play a vital role in China's evolving infrastructure landscape.
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.
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.
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/zk-international-groups-breakthrough-win-in-the-shenzhen-gas-project-is-expected-to-propel-growth-amid-chinas-economic-stimulus-which-should-exceed-284-billion-302266711.html
SOURCE ZK International Group Co., Ltd.