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WENZHOU, China - ZK International Group Co., Ltd. (NASDAQ:ZKIN), a company currently valued at $9.4 million market cap, announced Tuesday that its subsidiary, Zhejiang Zhenkang Industrial Co., Ltd., has secured a RMB 27.54 million (approximately $3.88 million) contract from China Gas subsidiary Yipinhui Smart Living Technology Co., Ltd. According to InvestingPro analysis, the company appears undervalued at current price levels.
The contract involves supplying over 1.43 million meters of 304-grade thin-walled stainless steel pipes and fittings for public health drinking water projects, including direct drinking water systems.
Zhenkang Industrial participates in drafting national standards for direct drinking water pipelines and smart water management infrastructure in China, according to the company’s press release statement.
ZK International describes itself as an engineering company that designs and manufactures stainless steel and carbon steel pipe products for water delivery systems. The company reports having supplied stainless steel pipelines for over 2,000 projects, including infrastructure for the 2008 Beijing Olympics.
The company holds 28 patents, 21 trademarks, and various national and industry standard awards, according to the announcement. For more detailed financial metrics and 12 additional exclusive insights about ZKIN, visit InvestingPro.
In other recent news, ZK International Group Co., Ltd. has announced plans to raise up to $1 billion by issuing warrants denominated in XRP, a popular cryptocurrency. This initiative, which is still subject to legal review and board approval, is aimed at connecting the cryptocurrency market with the traditional stock capital market. The company’s strategy will allow holders of XRP to invest in a NASDAQ-listed company without needing to convert their digital assets into fiat currency. This move targets the substantial market cap of Ripple’s XRP, which stands at approximately $130 billion, and its extensive user base of over 5 million active wallets. By leveraging the widespread adoption and liquidity of XRP, ZK International aims to attract a new wave of investors. This development reflects the company’s innovative approach to capital raising in the evolving financial landscape.
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