ZK International Group Stock Price, News & Analysis

On February 17, 2021, ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, will launch a DeFi Protocol on February 24, 2021. This protocol is a stablecoin decentralized exchange (DEX) and liquidity mining platform, generating significant interest, including from investors like NBA champion Dwight Howard. The platform's smart contracts have been audited by Hacken, scoring as 'well-secured.' With over $40 billion in the DeFi space, xSigma aims to establish itself as a key player, leveraging a team of experienced engineers from leading tech companies.

ZK International Group (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, has secured professional basketball player Dwight Howard as an early liquidity provider for its DeFi Protocol. This partnership is notable as it marks the first time a global sports influencer joins a DeFi project in this capacity. The DeFi market has over $36 billion locked in major protocols. ZK International, which specializes in high-performance stainless steel and carbon steel pipes, aims to capitalize on China's $850 billion water quality improvement commitment, addressing substantial infrastructure needs.

ZK International Group Co., Ltd. (ZKIN) reported a robust **35.9% revenue growth**, reaching a record **$86.85 million** for the fiscal year ended September 30, 2020. However, the net loss was **$0.83 million** or **$0.05 per share**, a significant decline from a **net income of $8.11 million** in 2019. Gross profit plummeted by **74.8%** to **$3.94 million**, reflecting a gross margin drop to **4.5%** from **24.5%**. The company attributed these challenges to decreased average selling prices and a shift towards lower-margin products amidst the pandemic's impact on operations.

On January 19, 2021, ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced the launch of its ETF-like decentralized fund and platform, called xTF by xSigma, within the DeFi ecosystem. This Ethereum-based protocol aims to diversify investments among major crypto assets in DeFi while allowing users to create their own decentralized funds. With a total of over $21 billion locked in the DeFi market, ZK International is positioning itself to capitalize on this growth. The launch is anticipated in Q2 2021, with future fee generation expected from fund operations.

On January 12, 2021, ZK International Group's subsidiary, xSigma Corporation, released a whitepaper for its decentralized finance (DeFi) protocol, outlining key technical details and a new project aiming to expand its product ecosystem. With the DeFi industry seeing significant growth, xSigma seeks to leverage this by targeting liquidity providers and fostering user participation through staking and low fees. The xSigma protocol operates on the Ethereum blockchain and is designed for transparency and security, allowing users to exchange stablecoins without intermediaries.

ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, is securing initial liquidity for its decentralized finance (DeFi) project from institutional and individual blockchain investors. xSigma is in negotiations for significant crypto commitments, which will reward early liquidity providers. The DeFi industry is benefiting from Bitcoin's rise, surpassing $34,000, with over $15 billion locked in DeFi applications. CEO Jiancong Huang expressed excitement over institutional interest in xSigma, viewing it as advantageous for both the company and the growing DeFi sector.

ZK International Group Co., Ltd. (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, has completed the smart contract development for its DeFi platform. This project is undergoing a technology audit before its release, aimed at enhancing system security. xSigma has garnered significant interest, with over 5,000 community members and commitments from liquidity providers. The team includes former professionals from major tech firms, positioning xSigma for growth as interest in cryptocurrencies surges, with the aim to rank among the top DeFi projects in 2021.

On December 14, 2020, ZK International Group (Nasdaq: ZKIN) hosted a delegation led by U.S. Consul General James Heller in Wenzhou, China. The visit highlighted ZK's role in representing Wenzhou's enterprise spirit, showcasing its manufacturing facilities, and products. The Chairman, Jiancong Huang, expressed the company's commitment to expanding into the U.S. market, having acquired necessary export certifications. ZK International holds 28 patents and aims to capitalize on China's $850 billion investment in water quality improvement, having supplied over 2,000 projects including major Olympic venues.

ZK International Group (NASDAQ: ZKIN) has appointed Jesse Brauner as Senior Engineer at its subsidiary, xSigma Corporation, enhancing its DeFi protocol development with his extensive blockchain experience. Brauner previously worked at Ripple Labs, scaling its On-Demand Liquidity product. Under his leadership, xSigma aims to launch an innovative DeFi ecosystem in early 2021. The company emphasizes its commitment to the blockchain sector, associating itself with industry leaders to bring legitimacy to decentralized finance.