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:

(PRNewsfoto/ZK International Group Co., Ltd.)

  • ZK'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 be well positioned to take advantage of huge future demands and increase of ZK's market share of the stainless-steel water supply pipeline market.

Mr. Jiancong Huang, Chairman and CEO of ZK International stated, "with our various investments which are expected to realize liquidity events in the coming year, coupled with the encouragement of the policy carried by Chinese Government, we believe more revenue and gain on capital investment will be generated and ultimately bring more value to our shareholders. In addition, being one of the pioneers and industry leaders of the thin-walled stainless steel pipe technology, the Company has started seeing an increase in orders and the awarding of successfully bid contracts."

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 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 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. 

In 2018, ZKIN established its wholly-owned xSigma Corporation to develop innovative software solutions that support its core operations while exploring new opportunities in smart contracts, distributed ledgers, supply chain management and blockchain architecture. The xSigma Labs team is made up of world-class developers and engineers formerly of Facebook, Google, Amazon, Ripple and 1inch, most recently launching its first DeFi project in the Fall of 2020.

In March of 2021, ZKIN announced the formation of its new wholly-owned subsidiary, xSigma Entertainment Limited. It was established as part of ZK's integrated network of companies focused on developing and investing in innovative software technology platforms. xSigma Entertainment's mandate is to acquire assets in the high-growth US gaming market. Sigma Entertainment aims to increase shareholder value by targeting and investing in early-stage online gambling businesses that are poised for exponential growth and exits.

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. 

About MaximBet

Established in 2017, Maximbet.com is a rapidly-growing licensed sports betting and casino operator that is hyper-focused on capitalizing on the multi-billion dollar legalized Sportsbetting and iGaming industry in the United States. The company was formed by top executives with more than 100 years of collective experience in the gaming industry and utilizes proprietary technology to build personalized consumer betting experiences. Harnessing the power of the Maxim men's lifestyle brand, MaximBet gives players incredible real life and virtual access to celebrities, athletes and influencers, and lets guests truly live the Maxim lifestyle wherever they live and play.

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.

Contact Person: Di Chen
Email: super.di@live.cn

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SOURCE ZK International Group Co., Ltd.

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