Welcome to our dedicated page for ZK International Group news (Ticker: ZKIN), a resource for investors and traders seeking the latest updates and insights on ZK International Group stock.
ZK International Group Co., Ltd. (ZKIN) generates a diverse stream of news as a China-based engineering company focused on high-performance stainless steel and carbon steel pipe products for water and gas pipeline systems. Its press releases and SEC-furnished announcements cover operational performance, infrastructure projects, capital markets activity, and technology initiatives.
Investors following ZKIN news will find regular financial updates, including earnings results for fiscal years and interim periods. These releases discuss revenues, gross profit, margins, operating loss, and net loss, along with commentary on factors such as demand for piping products, conditions in the real estate market, and raw material costs like nickel used in stainless steel.
The company also issues project and contract announcements. For example, it has reported that a subsidiary secured a centralized procurement project for thin-walled stainless steel pipes to be used in public health drinking water systems, highlighting applications in direct drinking water projects and the role of 304-grade thin-walled stainless steel pipes and fittings.
ZK International’s news flow includes corporate and capital markets developments such as a 1-for-7 reverse stock split of its ordinary shares, the resolution of a Nasdaq bid price deficiency, private placements of ordinary shares to non-U.S. investors, and the adoption of an equity incentive plan. Board and management changes, including director appointments and executive transitions, are also disclosed through Form 6-K filings and related announcements.
In addition, ZKIN publishes technology and digital asset updates through its subsidiary xSigma Corp., including plans for xSigma Wallet, a crypto banking wallet, and initiatives to accept cryptocurrency payments, including Bitcoin, for transactions with suppliers, vendors, and customers. For investors and observers, the ZKIN news page provides a consolidated view of these earnings reports, project wins, governance changes, and fintech initiatives in one place.
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced the launch of a unique NFT collection by Cris Cyborg, a renowned MMA champion, on its new marketplace, MaximNFT. This collection includes rare 3D collectibles certified by Cyborg, with the rarest NFT granting a personal training session with her. MaximNFT will be promoted on Cyborg's Bellator 271 fight uniform, generating significant exposure. The NFT platform aims to leverage growing NFT sales, projected to surpass $2 billion in 2021, and will support various blockchains. The sale date will be revealed in the coming weeks.
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, received a grant from the Solana Foundation to develop a DeFi project. This initiative aims to leverage Solana's high transaction throughput, positioning xSigma within the rapidly expanding DeFi sector. Solana's native token market cap has exceeded $40 billion, reflecting significant growth over the past six months. xSigma's focus will be on creating innovative financial tools, with further updates expected soon.
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announces a partnership between its subsidiary, xSigma Collectibles, and ACES, Inc., to launch NFTs for athletes on the MaximNFT platform. MaximNFT is an NFT marketplace being developed in collaboration with Maxim magazine, targeting the rapidly growing NFT sector, which surpassed $2 billion in 2021. ACES is recognized as a leading baseball agency, and the partnership aims to enhance NFT offerings for athletes. The MaximNFT platform will go live this fall with numerous NFT releases for celebrities, athletes, and brands.
ZK International Group's investee, MaximBet, has announced its expansion into Ohio and Pennsylvania, enhancing online sports betting and casino opportunities in these states. Following a successful launch in Colorado, MaximBet is now operational in six states, providing exclusive sports betting experiences and promotional events. The CEO expressed enthusiasm about leveraging market scale and anticipates further access arrangements. MaximBet’s partnership with Caesars Entertainment will facilitate iGaming in Pennsylvania, promising a broad range of services and customer engagement strategies.
ZK International Group (Nasdaq: ZKIN) congratulates its investee, MaximBet, on the successful launch of its online sports betting license in Colorado. MaximBet exceeded expectations in its opening weekend and plans to expand into Indiana, Iowa, and New Jersey by Q4 2021. The company aims to be live in at least 50% of the legalized US market by the end of 2022. Special promotions include a welcome offer of a 100% deposit bonus up to $1,000. ZKIN sees this expansion as a way to diversify its technology investments in the growing US gaming market.
ZK International Group (ZKIN) has invested an additional $10 million in Maximbet.com, raising its ownership stake to 15.73%. This investment aligns with ZKIN's strategy to capitalize on the growing U.S. sports betting market, which is projected to increase significantly. Maximbet aims to expand its operations in several states and could increase ZKIN's equity position to 25% by January 1, 2022. ZKIN anticipates that Maximbet's strong management and technology will enable it to compete with major players in the multi-billion dollar industry.
ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced the appointment of Jon Orlando as CEO of its subsidiary, xSigma Collectibles, which runs the new NFT marketplace, MaximNFT. This strategic move aims to enhance content creation and partnerships within the rapidly growing NFT sector. The marketplace is set to launch in fall 2021, featuring celebrity and brand NFTs and unique offerings like autograph sessions. With Maxim's extensive readership and xSigma's expertise, the project targets a robust NFT market that saw over $2 billion in sales volume in 2021.
ZK International Group (Nasdaq: ZKIN) has commenced supplying pressed-type carbon steel pipelines to ENN Energy Holdings Limited, a major clean energy distributor in China. The estimated sales amount for this procurement is USD 12.5 million, based on ENN's gassing projects. Approved as a Qualified Supplier in May 2021, ZKIN's involvement in ENN's projects supports China's Clean Energy Initiative aimed at replacing coal with clean energy. ZKIN's Chairman emphasized the quality and innovation of their products, reinforcing their commitment to high standards in gas pipeline supply.
ZK International Group (Nasdaq: ZKIN) announced the formation of its subsidiary, xSigma Collectibles Limited, and a partnership with Maxim to launch MaximNFT.com, an NFT marketplace. xSigma will manage the platform, offering innovative solutions for creating and trading NFTs across various blockchains. The NFT market is experiencing rapid growth, with over $1.5 billion in transaction volume reported in Q1 2021. The platform is set to launch this fall, focusing on sports and celebrity collectibles as well as gaming content.
ZK International Group Co., Ltd. (ZKIN) reported a 4.98% revenue increase for H1 FY2021, achieving $42.17 million largely due to growing domestic orders. Gross profit surged by 46.83% to $4.71 million, with an improved gross margin of 11.16%. However, operational losses were noted at $1.65 million, contrasting with a prior profit, leading to a net loss of $0.58 million or $0.03 per share. Significant marketing expenses for new initiatives and a rise in R&D costs contributed to the operational challenges. Cash reserves increased to $23.79 million, reflecting a healthy liquidity position.