WENZHOU, China, Dec. 26,
2023 /PRNewswire/ -- ZK International
Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK
International" or the "Company"), a pioneer in innovation and
technology, and a global leader in the design and production of
stainless 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 from December 6, 2023 through December 20,
2023. Therefore, the Nasdaq Listing Qualifications Panel has
decided to continue the listing of ZK International Group Co.,
Ltd.'s securities on The Nasdaq Stock Market. Consequently, the
Panel has closed this matter, signifying the resolution of the bid
price deficiency issue.
ZK International Group Co., Ltd. extends its sincere
appreciation to Donohoe Advisory Associates LLC for their
professionalism and expertise in guiding the company through this
matter. The legal firm's support has been instrumental in achieving
a successful resolution.
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.
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 46 patents, 46
trademarks, 5 Software Copyrights, 2 National Innovation Fund
Awards, and 41 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.
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.
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SOURCE ZK International Group Co., Ltd.