公司2025年财报显示营业收入为4000万美元，净利润为负，每股收益-0.15美元，主营业务为金属管材 制造与销售。 经济观察网根据截至2026年2月11日的公开信息，正康国际(ZKIN)近期未披露明确的重大事件预告。 业绩经营情况 目前公开渠道中暂无2026年计划内的财报发布、并购或管理层变动等具体事件安排。 以上内容基于公开资料整理，不构成投资建议。 公司状况 ...

公司状况 2025年多次出现单日股价大幅波动，例如2025年12月17日股价拉升5.61%至1.98美元/股，2025年10月21 日上涨6.64%至2.10美元/股。这些波动通常与市场交易行为相关，但公司未发布具体事件说明。 业绩经营情况 根据2025年财报数据，公司营业收入为4000万美元，净利润为负，每股收益为-0.15美元，毛利率较 低。 经济观察网正康国际(ZKIN)在2025年期间主要涉及股价波动和财务业绩披露，但截至2026年2月11日， 未发现近期有明确公告或事件预告。 股票近期走势 公司主营金属管材制造和销售，产品应用于建筑、工业等领域。目前公开信息中未提及2026年计划中的 财报发布、并购或管理层变动等具体事件。 以上内容基于公开资料整理，不构成投资建议。 ...

Regulatory Risks - ZK International's current auditor, Fortune CPA, Inc., is not subject to PCAOB inspection, which poses a risk of potential delisting under the HFCAA if the PCAOB cannot inspect the auditor for two consecutive years[26]. - The company is not currently required to obtain approval from Chinese authorities to list on U.S. exchanges, but future requirements could significantly impact operations[31]. - The Trial Administrative Measures by the CSRC effective March 31, 2023, may require filing for future offshore offerings, which could hinder the ability to offer securities[34]. - The approval from the China Securities Regulatory Commission (CSRC) may be required for future offerings, and failure to meet such requirements could limit the company's ability to offer securities[83]. - Recent regulatory actions by the PRC government include increased oversight of overseas offerings and foreign investments, which could hinder the company's ability to conduct business and accept foreign investments[76]. - The company is facing uncertainty regarding audit cooperation with PCAOB due to Chinese authorities' approval, which may affect the trading of its securities[169]. Financial Operations and Cash Flow - The company relies on dividends from its subsidiaries to fund cash needs, and any limitations on these payments could adversely affect operations and investments[35]. - There have been no transfers, dividends, or distributions between ZK International and its subsidiaries during the fiscal years ended September 30, 2025, 2024, and 2023[44]. - ZK International and its subsidiaries do not plan to distribute earnings or settle amounts owed in the foreseeable future, intending to use earnings for business operations instead[45]. - The company relies on dividends from PRC subsidiaries for cash needs, and any limitations on these payments could impact operational expenses[64]. - The company recorded an income tax liability of $669 for the fiscal year ended September 30, 2023, with no liabilities for the previous two fiscal years[119]. - Operating activities provided $736,397 in net cash during the fiscal year ended September 30, 2025, while using $6,475,650 and $1,905,912 in the fiscal years ended September 30, 2024, and 2023, respectively[127]. - The company incurred net losses of $61,290,390, $2,783,566, and $4,015,330 for the years ended September 30, 2023, 2024, and 2025, respectively, with accumulated deficits amounting to $54,433,757 as of September 30, 2025[156]. Market and Economic Conditions - The company faces significant risks related to doing business in China, including regulatory scrutiny and potential restrictions on operations[74]. - The Chinese government continues to exert substantial control over the economy, which may lead to material changes in the operations of PRC subsidiaries and significant depreciation of the company's ordinary shares[75]. - A weakening Chinese economy, particularly in the real estate and hospitality sectors, could negatively impact demand for the company's products[121]. - The PRC government's policies significantly influence economic growth, which could reduce demand for the company's products and adversely affect its competitive position[90]. Compliance and Legal Risks - The PRC Data Security Law and the Personal Information Protection Law impose strict requirements on data collection and processing, which could affect the company's operations if deemed applicable[77][78]. - The Measures for Cybersecurity Review (2021) require online platform operators with over one million users' personal information to undergo cybersecurity reviews before listing abroad, potentially impacting the company's future listings[79]. - The company is not currently required to file for cybersecurity review, but future regulations could impose significant compliance burdens and affect business operations[81]. - The British Virgin Islands laws provide limited protection for minority shareholders, which may affect their ability to address corporate governance issues[188]. Competition and Market Position - The company faced significant competition in the domestic market for pipe and fitting products, with over one hundred smaller companies and a few large competitors[120]. - The company is heavily dependent on senior management and key research and development personnel, particularly the Chairman of the Board, Jiancong Huang, for managing operations in the PRC[141]. - The company faces intense competition for qualified personnel, which could increase compensation costs and adversely affect operational results[143]. Intellectual Property and Innovation - The company has not been granted patents outside of China, which may limit its ability to protect its intellectual property as it expands internationally[130]. - The company relies on a combination of patent, copyright, trademark, and trade secret laws to protect its intellectual property rights, owning various patents in China related to its production technology[146]. - The company plans to explore strategic acquisitions to support growth but may face challenges in identifying suitable candidates and integrating them into existing operations[135]. Shareholder and Capital Structure - Officers and directors control approximately 24% of the company's outstanding shares, which may influence shareholder decisions and management[172]. - The company is classified as an emerging growth company and may benefit from reduced reporting requirements for up to five years, but this could make its shares less attractive to investors[171]. - The company does not intend to pay dividends in the foreseeable future, meaning returns for investors will depend on share price appreciation[185]. - The company's ordinary share price may experience significant volatility, potentially leading to securities litigation[190]. - The trading price of the Company's ordinary shares has fluctuated between $0.82 and $6.3 during the fiscal year ended September 30, 2025[191]. Financing and Capital Needs - The company may require additional capital to support business growth, which could involve equity or debt financing, potentially leading to dilution for existing shareholders[122]. - The Company entered into a securities purchase agreement on November 27, 2023, to issue and sell $5 million of ordinary shares, with the initial subscription amount of $1.5 million to be paid within three business days[215]. - The Private Placement was completed in three subscriptions, with the total amount to be issued based on a pricing structure that includes 185% of the higher closing bid price prior to the agreement[215]. - Univest Securities, LLC facilitated the Private Placement and received a commission of $150,000[216]. - On October 20, 2025, the Company agreed to sell 10,010,000 ordinary shares at a price of $2.09 per share, totaling $20,920,900[217]. - The Company entered into a securities purchase agreement on July 12, 2024, to purchase 2,000,000 shares of common stock from Recruiter.Com Group, Inc. at $1.00 per share[218]. Corporate Governance and Compliance - The company must maintain effective internal control over financial reporting, and failure to do so could lead to a decline in share price and investor confidence[177]. - Becoming a public company will increase legal and financial compliance costs, impacting the company's net income and liquidity[181]. - The company is implementing an anti-corruption program to comply with the U.S. Foreign Corrupt Practices Act and Chinese anti-corruption laws[100]. - Recent PRC regulations emphasize the need for oversight of overseas listings, which could hinder the company's ability to raise additional capital[104].

中概股收盘跌幅居前的个股为：多尼斯跌40%，天睿祥跌27.42%，Elong Power跌25.58%，朴荷生物科 技跌24.08%，正康国际跌23.92%。(格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 ^ | 涨跌额 | 成交额 | | --- | --- | --- | --- | --- | --- | | DOGZ | 多尼斯 | 1.620 | -40.00% | -1.080 | 1369.05万 | | TIRX | 天睿祥 | 0.3210 | -27.42% | -0.1213 | 24.47万 | | ELPW | Elong Power | 0.4300 | -25.58% | -0.1478 | 83.87万 | | BYAH | 朴荷生物科技 | 0.1110 | -24.08% | -0.0352 | 23.1万 | | ZKIN | 正康国际 | 1.590 | -23.92% | -0.500 | 2.35万 | ...

Group 1 - The core business of ZK International is to provide systematic solutions for construction projects requiring complex pipeline systems, primarily through its domestic company Zhejiang ZK International Co., Ltd [2] - ZK International was established on May 13, 2015, in the British Virgin Islands and has received numerous awards and recognitions both domestically and internationally [2] - The company's products are mainly sold in China, with exports and distribution in Europe and Southeast Asia [2] Group 2 - As of March 31, 2025, ZK International reported total revenue of $39.9964 million, a year-over-year decrease of 24.37%, and a net profit attributable to shareholders of -$796,800, a decrease of 65.4% year-over-year [1] - On December 17, ZK International's stock price increased by 5.61%, reaching $1.975 per share, with a total market capitalization of $30.1039 million [1] - The company is scheduled to disclose its fiscal year 2025 annual report on January 26, 2026 [2]

Group 1 - The core business of ZK International Holdings Co., Ltd. is to provide systematic solutions for construction projects requiring complex pipeline systems, primarily through its domestic company Zhejiang ZK International Co., Ltd. [2] - The company offers advanced pipe products and engineering technology to urban planners and real estate developers, enabling them to deliver reliable and durable gas and water supply systems to communities [2] - ZK International's products are mainly sold in China, with exports and distribution in Europe and Southeast Asia, and the company has received numerous awards and recognitions both domestically and internationally [2] Group 2 - As of March 31, 2025, ZK International reported total revenue of $39.996 million, a year-on-year decrease of 24.37%, and a net profit attributable to shareholders of -$796,800, a year-on-year decrease of 65.4% [1] - On December 15, ZK International's stock opened up 18.15%, trading at $1.985 per share, with a total market capitalization of $30.2563 million [1] - The company is scheduled to disclose its fiscal year 2025 annual report on January 26, 2026, with the actual disclosure date subject to company announcement [2]

Group 1 - The top five gaining Chinese concept stocks at the close were: Chang'an Energy up 51.53%, Haodingduo up 28.62%, Kaixin Auto up 27.56%, Huhu Technology up 15.51%, and Zhengkang International up 14.12% [1] - Chang'an Energy (PTLE) had a closing price of 0.2820 with a gain of 51.53%, translating to an increase of 0.0959 and a trading volume of 206 million [1] - Haodingduo (MAMK) closed at 7.100, rising by 28.62%, which is an increase of 1.580 with a trading volume of 4.3489 million [1] Group 2 - Kaixin Auto (KXIN) saw a closing price of 1.620, up 27.56%, reflecting an increase of 0.350 and a trading volume of 17.5516 million [1] - Huhu Technology (HUHU) closed at 7.410, gaining 15.51%, which is an increase of 0.995 with a trading volume of 0.5916 million [1] - Zhengkang International (ZKIN) had a closing price of 2.910, up 14.12%, translating to an increase of 0.360 and a trading volume of 0.3609 million [1]

Core Viewpoint - ZK International Group Co., Ltd. reported a significant decline in financial performance for the first half of fiscal year 2025, primarily due to decreased demand for piping products linked to a slow recovery in the real estate market, resulting in a 24.37% drop in revenue compared to the previous year [1][2]. Financial Performance - Revenue decreased by $12.89 million, or 24.37%, to $39.996 million for the six months ended March 31, 2025, from $52.887 million for the same period in 2024 [2][16]. - Gross profit fell by $1.16 million, or 34.74%, to $2.186 million, with a gross margin of 5.47%, down from 6.33% in the prior year [3][16]. - The operating loss increased to $0.49 million from a loss of $0.16 million in the same period last year, resulting in an operating margin of (1.22)% compared to (0.31)% [3][8]. - Net loss was $0.802 million, compared to a net loss of $0.482 million for the same period in 2024, marking an increase in net loss of $0.320 million [10][17]. Cost Management - Selling and marketing expenses slightly increased by $862, or 0.10%, to $881,686 for the six months ended March 31, 2025 [5]. - General and administrative expenses decreased by $614,100, or 30.54%, to $1.396 million, primarily due to reductions in consulting and employee-related costs [6]. - Research and development expenses decreased by $225,871, or 36.27%, to $396,934 [7]. Financial Condition - As of March 31, 2025, total cash and cash equivalents, restricted cash, and short-term investments amounted to $1.61 million, down from $4.16 million as of September 30, 2024 [10]. - Accounts receivable decreased to $19.82 million from $22.39 million, while inventories increased to $15.49 million from $13.53 million [10]. - The current ratio was 1.22 as of March 31, 2025, compared to 1.26 as of September 30, 2024, indicating a slight decline in liquidity [11].

Company Overview - ZK International Group Co., Ltd. is a leading engineering company in China focused on high-performance steel products, particularly in the piping industry [3] - The company has a strong portfolio with 28 patents, 21 trademarks, and multiple awards in technical achievements and national standards [3] Recent Developments - Zhenkang Industrial, a subsidiary of ZK International, won a bid for a centralized procurement project for thin-walled stainless steel pipes valued at RMB 27.54 million (approximately USD $3.88 million) [1] - The project involves supplying over 1.43 million meters of 304-grade thin-walled stainless steel pipes and fittings for public health drinking water projects [1] Industry Position - Zhenkang Industrial is recognized as a benchmark enterprise in China's new-era piping industry, contributing to national standards for direct drinking water pipelines and smart water management [2] - The company emphasizes a development philosophy centered on health, safety, and environmental protection, reinforcing its leadership in the premium stainless steel piping sector [2] Market Opportunities - ZK International aims to capitalize on the Chinese Government's $850 billion commitment to improve water quality, addressing the issue that 70% of water is unfit for human contact [4]

Company Overview - ZK International Group Co., Ltd. is a leading engineering company based in China, focusing on high-performance steel products and innovative technologies for modern applications [4]. - The company has a strong portfolio, owning 28 patents, 21 trademarks, and has received multiple awards for technical achievements and industry standards [4]. Business Focus - ZK International specializes in engineering and manufacturing patented high-performance stainless steel and carbon steel pipe products, aimed at delivering sustainable and environmentally sound drinking water [5]. - The company has supplied stainless steel pipelines for over 2,000 projects, including significant venues for the 2008 Beijing Olympics [5]. Market Opportunity - ZK International is positioned to capitalize on the Chinese Government's $850 billion commitment to improve water quality, addressing the issue that 70% of water is deemed unfit for human contact [5]. Shareholder Communication - The company has postponed its shareholder conference call originally scheduled for February 7, 2025, to incorporate additional significant developments into the discussion, enhancing the value of the experience for attendees [2].