WENZHOU, China, April 17,
2019 /PRNewswire/ -- ZK International Group Co.,
Ltd. (ZKIN) ("ZK International" or the
"Company"), today provides revenue guidance for the fiscal
year 2019. The Company anticipates revenue to increase by
$13.7 million, or 25%, to
approximately $68.6 million for the fiscal year ending
September 30, 2019 from $54.9
million for the fiscal year ended September
30, 2018.
Revenue growth year-over-year will be primarily driven by the
continuing urbanization of China
and the local government's initiatives to improve existing and new
water and gas infrastructure. The Ministry of Housing and
Urban-Rural Development has openly encouraged the application of
stainless steel piping systems such as ZK International's
proprietary products as the preferred pipe material as compared to
copper. To expedite the process, the government is working with
local agencies to implement these standards.
Mr. Jiancong Huang, Chairman and Chief Executive Officer of
ZK International, stated, "We are anticipating revenue growth of
25% for fiscal year 2019, falling in line with our approximate
year-over-year growth rate we have experienced historically. The
continued urbanization of China
and the evolving government standards has allowed us to build new
customer relationships to support these efforts. In 2018, we
invested our revenue in sales and marketing in anticipation of the
growth we expect to achieve in the coming year. We remain committed
to producing high quality products and leading the water and gas
infrastructure upgrade initiatives in China."
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer,
engineer, manufacturer, and supplier of patented high-performance
stainless steel and carbon steel pipe products that require
sophisticated water or gas pipeline systems. The Company owns 28
patents, 21 trademarks, 2 Technical Achievement Awards, and 10
National and Industry Standard Awards. ZK International is Quality
Management System Certified (ISO9001), Environmental Management
System Certified (ISO1401), and a National Industrial Stainless
Steel Production Licensee that is focused on supplying steel piping
for the multi-billion dollar industries of Gas and Water sectors.
ZK has supplied stainless steel pipelines for over 2,000
projects, including the Beijing National Airport, the "Water Cube"
and "Bird's Nest", which were venues for the 2008 Beijing Olympics.
Emphasizing superior properties and durability of its steel piping,
ZK International is providing a solution for the delivery of high
quality, highly sustainable, environmentally sound drinkable water
not only to the China market but to international markets
such as Europe, East Asia, and Southeast Asia.
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.
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.
Investor Contact:
Tony Tian, CFA
Weitian Group LLC
Phone: +1 (732) 910-9692
Email: ttian@weitianco.com
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SOURCE ZK International Group Co., Ltd.