WENZHOU, China, May 6, 2024
/PRNewswire/ -- ZK International Group Co.,
Ltd. (Nasdaq: ZKIN) ("ZKIN," "ZK International" or
the "Company"), a global leader in the design, manufacture,
and sale of high-performance stainless steel and carbon steel pipe
products, announces today that it has been granted an exception by
Nasdaq Staff regarding its Form 20-F filing for the period ended
September 30, 2023.
On February 20, 2024, Nasdaq Staff
notified the Company of non-compliance with Nasdaq's filing
requirements under Listing Rule 5250(c)(1) due to the absence of
its Form 20-F filing. However, following a comprehensive review and
assessment of the materials submitted by the Company on April 22,
2024, Nasdaq Staff has determined to grant an exception to enable
the Company to regain compliance with the Rule.
The terms of the exception require the Company to file the Form
20-F by June 7, 2024, as mandated by
the Rule. In the event that ZK International fails to meet these
terms, Nasdaq Staff will issue written notification regarding the
potential delisting of its securities. At such time, the Company
retains the right to appeal Nasdaq Staff's determination to a
Hearings Panel.
Jiangcong Huang, Chairman and CEO of ZK International,
commented, "We appreciate Nasdaq's understanding and support as we
work diligently to finalize our Form 20-F filing. Our commitment to
transparency and compliance remains unwavering, and we are
confident in our ability to meet the requirements outlined in the
exception granted by Nasdaq Staff."
ZK International Group Co., Ltd. reaffirms its dedication to
maintaining the highest standards of corporate governance and
transparency as it progresses towards regaining compliance with
Nasdaq listing requirements.
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 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.
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.