ZK International Group Co., Ltd. Resolves Nasdaq Bid Price Deficiency and Remains in Compliance with Nasdaq Listing Standards

Rhea-AI Summary

ZK International Group (Nasdaq: ZKIN) has successfully resolved its Nasdaq bid price deficiency issue and maintained its listing compliance. The company received written confirmation from Nasdaq that it has regained compliance with Listing Rule 5550(a)(2), as its closing bid price exceeded US$1.00 for 10 consecutive business days as of February 14, 2025.

The engineering company, which specializes in high-performance steel products, has now closed this compliance matter and maintains its position on the Nasdaq Capital Market. The company has expressed its commitment to maintaining high standards of corporate governance and compliance while continuing to focus on delivering value through its innovative products and services.

Positive

• Regained Nasdaq listing compliance by maintaining bid price above $1.00
• Avoided potential delisting risk from Nasdaq
• Maintained access to capital markets through continued Nasdaq listing

Negative

• Previous trading below $1.00 indicates recent stock price weakness

WENZHOU, China, Feb. 24, 2025 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZK International" or the "Company"), a leading engineering Company focused on high-performance steel products, is pleased to announce that the bid price deficiency concern raised by Nasdaq has been successfully resolved.

The Company has received written notification (the "Nasdaq Notice") from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it has regained compliance with the minimum bid price requirement set forth in the rules for continued listing on the Nasdaq Capital Market (the "Listing Rules").

The Nasdaq Notice confirms that the Company has regained compliance with Listing Rule 5550(a)(2), as the Company's closing bid price exceeded US$1.00 for 10 consecutive business days. On February 14, 2025, the Staff notified the Company that it has regained compliance with the Rule and the matter is now closed.

ZK International Group Co., Ltd. remains committed to maintaining the highest standards of corporate governance and compliance. The company appreciates the support of its shareholders and looks forward to continuing to deliver value through its innovative products and services.

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.

 

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SOURCE ZK International Group Co., Ltd.

FAQ

When did ZKIN resolve its Nasdaq bid price deficiency in 2025?

ZKIN resolved its Nasdaq bid price deficiency on February 14, 2025, when it received notification from Nasdaq confirming compliance with the minimum bid price requirement.

What is the minimum bid price requirement ZKIN needed to meet for Nasdaq compliance?

ZKIN needed to maintain a closing bid price exceeding US$1.00 for 10 consecutive business days to meet Nasdaq's Listing Rule 5550(a)(2).

How did ZKIN regain compliance with Nasdaq listing standards?

ZKIN regained compliance by maintaining its stock's closing bid price above US$1.00 for 10 consecutive business days, meeting Nasdaq Capital Market's minimum bid price requirement.

What are the implications of ZKIN resolving its Nasdaq compliance issues?

By resolving the compliance issues, ZKIN maintains its Nasdaq Capital Market listing, avoiding potential delisting and ensuring continued access to capital markets.