ZK International Group Stock Price, News & Analysis

ZK International Group (Nasdaq: ZKIN) has officially launched its decentralized finance (DeFi) project through its subsidiary, xSigma Corporation. The initiative aims to create a unified DeFi ecosystem addressing real-world challenges in finance, including stablecoins, custodial trading, and cross-chain lending. The xSigma DEX, the first phase of this project, promises to enhance user experience and reduce impermanent loss. The project's roadmap includes launching a stablecoin by 2022. Backed by top industry talent, xSigma is positioned to lead in the rapidly growing DeFi sector.

ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced its subsidiary xSigma Corporation has contracted Dentoro Alliance LP for a multi-year software development agreement worth $1.5 million to create a decentralized finance protocol. Dentoro will hold 49% equity in xSigma as part of this deal and will leverage a team of experienced developers from companies like Facebook and Google. This partnership is part of xSigma's pivot to decentralized finance and aims to enhance transparency and legitimacy in blockchain-based smart contracts.

ZK International Group Co., Ltd. (Nasdaq: ZKIN) today announced the launch of a Decentralized Finance (DeFi) protocol by its subsidiary, xSigma Corporation. This initiative aims to enhance transparency in decentralized financial contracts, entering the rapidly growing DeFi space with a decentralized stablecoin exchange. The DeFi ecosystem will allow liquidity providers to earn rewards and customers to access DeFi markets. Given the $9 billion currently locked in DeFi as of September, this launch positions ZKIN favorably in the evolving blockchain market.

ZK International Group (Nasdaq: ZKIN) announced plans to fund its subsidiary, xSigma Corporation, to develop blockchain technologies focused on decentralized finance (DeFi). By transitioning its efforts towards DeFi, xSigma aims to launch products such as decentralized exchanges and stablecoins. The Company emphasizes its commitment to innovation in the blockchain sector, reflecting a strategic pivot from its traditional operations in high-performance steel pipe manufacturing. This venture aligns with the growing interest in DeFi solutions.

ZK International Group Co., Ltd. (ZKIN) has received official approval for the "Water Saving Design Standards in Civil Building" (GB 50555-2020), aimed at promoting water conservation across China. Developed with the Ministry of Housing and Urban-Rural Development, these standards will enforce water-efficient designs in new constructions and renovations. As a leader in developing national standards for piping, ZK International's involvement positions the company favorably to expand its market presence and customer base.

ZK International Group Co., Ltd. (ZKIN) announced that its subsidiary, xSigma Corporation, has signed a letter of intent with Dentoro Alliance LP to sell 49% equity stake in xSigma. This partnership aims to leverage blockchain technology for enhancing logistics, IoT, infrastructure, and supply chain management solutions. The company plans to develop a research and development lab with top software developers to explore blockchain applications. ZK International, founded in 2018, specializes in high-performance stainless steel and carbon steel pipe products.

ZK International Group Co., Ltd. (ZKIN) has been approved as a Qualified Supplier for Suning Real Estate Co., Ltd., one of China's leading commercial real estate companies. This partnership allows ZKIN to supply stainless steel piping products to all Suning projects across China, potentially increasing their order flow significantly. Currently, ZKIN is one of only three companies authorized to supply Suning. This strategic relationship is expected to enhance ZKIN's revenue prospects as Suning aims to construct 50 commercial plazas and 100 luxury hotels in the near future.

ZK International Group Co., Ltd. (ZKIN) has set terms for a $1.4 million convertible note financing, expected to close around September 25, 2020. The Convertible Notes may convert into up to 2,370,968 ordinary shares. This offering is pursuant to a shelf registration statement filed with the SEC. ZK International, based in China, specializes in high-performance steel pipe products for water and gas pipelines, holding 33 patents and numerous industry awards. The company aims to deliver sustainable drinking water solutions in both domestic and international markets.

ZK International Group Co., Ltd. (ZKIN) reported a 27.4% revenue increase to $40.17 million for the six months ending March 31, 2020. However, gross profit plummeted by 60.3% to $3.21 million, resulting in a gross margin decline to 8.0%. Net income dropped 97.7% to $0.09 million, or $0.01 per share. The decline in profit margins was attributed to one-off discounts on inventory due to COVID-19. ZK International anticipates revenue growth and a rebound in profit margins for the second half of FY 2020, despite challenging market conditions.