Business
ZK International Announces Plan To Seek Potential Distribution
WENZHOU, China, Oct. 20, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) ("ZK International" or the "Company"), a designer, engineer,
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, Oct. 20, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) (\"ZK International\" or the \"Company\"), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, today announced that the Company's management has proposed to the Company's Board of Directors regarding a potential distribution upon receiving returns from its prior investments of up to 25%. In anticipation of possible liquidity events by ZK's various investments, the Company believes that it has positioned itself well to create value for its shareholders.\n\n \n \n \n \n \n \n\n \nAny such distribution will be subject to the review and approval of the Board of Directors. The Company plans to review this strategy on an ongoing basis and may amend or forgo at any time in light of the Company's then current financial position, profitability, cash flow, debt, legal requirements and other factors considered relevant. As such, no assurances can be made that any future distribution will be made. \nThe Chairman of the Company, Mr. Jiancong Huang, states, \"We believe that distributing the returns of up to 25% from the investments we previously made will be a key component of ZK's capital allocation strategy and reflects our confidence in the Company's financial future. We have proposed this to our Board of Directors and hope to have a strong cash balance that remains robust and continues to afford us the flexibility to expand our business both through acquisitions and organic growth.\"\nAbout ZK International Group Co., Ltd.\nZK 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. \nZKIN'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), Enviro...