Business
The Newest Chinese Government Policies and ZKIN's Investments Will Bring Valuable Business Opportunities to ZK International
WENZHOU, China, March 29, 2022 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZK", "ZK International" or the "Company"), is pleased to
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, March 29, 2022 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) (\"ZK\", \"ZK International\" or the \"Company\"), is pleased to provide an update on the progress of its corporate initiatives, milestones, and various opportunities facing the Company despite the general public market conditions and the everchanging World events. Today the Company wishes to provide an update to its shareholders:\n\n \n \n \n \n \n \n\n \nZK's investment in MaximBet was timely, as it was able to make an investment in an up and coming online casino company at a very favorable valuation. A year later the Company has seen MaximBet grow its revenue month over month in the State of Colorado, while aiming to enter additional states in the coming months. It is this type of growth along with the potential liquidity event of MaximBet that should see a valuation increase in ZK's investment (currently 15.73% ownership of MaximBet) in the near future.With the creation of xSigma Labs, ZK's investments have seen the xSigma team build out a successful DeFi exchange, an NFT marketplace with a partnership with Maxim Magazine, and a Crypto Currency and Options Trading Platform that will go live by the second quarter of 2022. The Company anticipates the various platforms will bring multiple liquidity events from xSigma Labs in the coming year.A change in policy from the Chinese Government indicated on Jan 28, 2022, that the Chinese Office of National Development and Reform Commission distributed the policy that encourages the use of thin-walled stainless steel pipes to be used over plastic, lead and copper pipes for the urban public water supply pipe network in China. Since this policy has been initiated, the Company has already started seeing an increase in orders and the awarding of their successfully bid contracts. It is anticipated that the policy will continue to have a positive effect on future business, as the stainless steel pipe industry is expected to rapidly double its market share. Currently, the total market value of the annual demand for water pipes in China is more than $110 billion US dollars, of which, stainless steel water supply pipes currently account for less than 2% of the market. It is estimated that most of the water supply pipes will be replaced by stainless steel pipes in the future, which allows the Company to...