ZK International Group reports 2023 EPS ($1.94) vs. (21c) last year

Reports 2023 revenue $111.5M vs. $102.39M last year. Net book value per share was $0.80 as of September 30, 2023, compared to $2.80 as of September 30, 2022.. Jiancong Huang, Chairman of ZK International, commented, “while ZK International declared a net loss of $61 million for the year, this was largely due to a series of one-time write-offs related to various non-core investments. These write-offs are part of the company’s broader strategy to streamline operations and focus on high-growth opportunities, ensuring a more robust financial foundation for the future. While this year’s financial results reflect certain challenges, I am proud of the progress we have made in growing our revenue and strengthening our core business in China. The strategic decisions we’ve taken to write off certain investments position us for a more focused and profitable future. We remain committed to enhancing shareholder value and driving long-term growth for ZK International. As ZK International moves forward, the company remains confident in its ability to navigate the evolving market landscape and deliver sustainable value to its shareholders.”