ZK International Group Co., Ltd. (ZKIN), a China-based engineering company building and investing in innovative technologies for the modern world, announced that it has won the extremely competitive Pressed-type Carbon Steel Pipe Procurement contract with ENN Energy Holdings Limited, which is the leading clean energy distributor in China.
Shares of ZK International Group Co. Ltd. (ZKIN ) were down -7.77% at $4.77 as of this writing. ZKIN ‘s stock closed the last session at $4.89, increasing 10.14% or $0.45. ZKIN shares have risen by 310.92% over the last 12 months, and they have moved down by -0.41% in the past week.
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About Procurement Contract With ENN
ENN Energy Holdings Limited, an integral segment of the ENN Group, specializes in the urban pipeline gas business since 1992. ENN is one of the largest clean energy distributors in China and focuses on providing integrated energy services. The energy-oriented company has formed several principal businesses through continuous strategic enhancements.
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The core business of the ENN Group is inclusive of construction, operation, operations involving natural gas, and ship refueling stations, integrated energy projects, as well as other energy products.
ZK International’s stainless-steel pipe and press-fit connection advantages are inclusive of;
Easy installation and handling, as well as adjoining a solution, is 2.5xquicker than the obsolete threading pipe system. High variety of system design options and effortless assemble fittings requiring no special tools
Furthermore, the Expansion of the latest gas appliances to homes is made easier. Lesser joints and less leak risks are involved in comparison to copper pipe systems.No pipe cutting and threading or heavy equipment is required.
In 2018, ZKIN initiated its wholly-owned xSigma Corporation to produce next-generation software solutions that strengthen its principal operations while emphasizing new opportunities in smart contracts, distributed ledgers, supply chain management, and blockchain architecture. The xSigma Labs consists of international developers and engineers with work experience in corporate sectors of Facebook, Google, Amazon, Ripple, and 1inch, recently initiating its first DeFi project in the Fall of 2020.
Conclusion
ZKIN’s lucrative contract with ENN will provide ease in business operations due to the complementary nature of the businesses, however, ZKIN stock price could be seen declining as it stabilized after the substantial increase in share price at the last close.