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 that its subsidiary, xSigma Corporation, launched its DeFi protocol, achieving over $115 million in liquidity within the first 24 hours, ranking it among the Top-25 DeFi projects. The liquidity pool includes $49 million in USDT, $40 million in USDC, and $27 million in DAI. The launch has garnered significant media attention and community involvement, including endorsements from notable figures. CEO Jiancong Huang expressed excitement about future blockchain product launches.
ZK International Group, through its subsidiary xSigma Corporation, has acquired a proprietary crypto and Online CFD trading platform, branded as 'xSigma Trading'. This platform aims to offer diverse trading products, including crypto trading and derivatives, capitalizing on the growth of the cryptocurrency derivatives market, valued at $2.159 trillion in 2020. The platform's website is now live, with a planned launch in Q2 2021. While targeting global markets, xSigma Trading will not be available to US customers. This acquisition positions xSigma to expand its product offerings in the evolving crypto space.
ZK International Group (Nasdaq: ZKIN) announced that its subsidiary, xSigma Corporation, successfully completed an audit of its DeFi Protocol by Hacken, a leading European security firm. The audit found no critical issues, designating the protocol as 'well-secured'. The DeFi Protocol is set to launch on February 24, 2021. ZK International aims to enhance security in decentralized applications and will conduct additional audits. The company also focuses on high-performance stainless steel and carbon steel pipe products, tapping into China's $850 billion water quality improvement initiative.
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.