ZKTeco's Planned IPO Impacted By Slowing Growth And Lawsuit

By Charles Rollet, Published Jul 12, 2022, 09:22am EDT (Research)

****** ********** ***** $**** ** * ****-******* PRC ***** *** *** ** ********* with * $*** ****** ******* *** slowing ******* ****** ** ****** *****. The *******'* ******* **** **** **** harmed ** * **** ** *****-******* sales.

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** **** ******, **** ******** *** lawsuit *** ******'* ****** **********, ***** with *** *******'* ******* ** ************ listing.

**** **** ******** *** * ***** decline ** ****-****** ***** ******* ***** in **** ************* ******** ******'* **** overall *******.

Served ******* ******* ***** ********* *** ****

** ******** *, ****, *** ******** stock ******** ********** (****)************* ****** ***** *** ********** ** list, * ********* ****. *******, ** December **,******* ********** (******), * *** ****** *********** ********,*********** *** **** ****** *** $**.** over **** ****** ******** ** ******* copied* **** ******* ********* * ****** *********** ******.

** ********, ****** ****** ** *** latest************** ** *** ******* ******* *** products ******* ** *** ****, ***** ZKTeco's *********** ************ **** * ******* "unconditional *** ************" ******* **** **** would **** *** ******* ***** *** fines **********.

Impact ** *** ******* ********

******'* *** ****, ******** ********,********* ******* "**** *** ***** * material ******* ****** ** *** [******'*] production *** **********, *** **** ** constitute * *********** ******** ** *** issuer's ******** *** *******."

*******, *** ******** ***** *** **** more ***********,********** ****** ** *** ******* "******" and******* *********** ***** "***** *** ***** ***** doubts ***** ******* ****** *** ****** the ************ ******** ** *** ****".

***** ******** ****, ********** **** *** posted *** ***** ******* ********'* *** *********** *******, *** ***** *** ** ***** developments ** *** ******* ******. **** will ****** **** **** ** **** issues ********.

Financials **** ******* ******

******'* ************************ *** **** **** **********, ******* the *******'* ***** **** *.**% ** 2021:

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**** ********* * ****** ******** **** COVID *** ****** ******** ** **** larger ***** **** *.*. ********* ********* ***** **% ** ****** ********** **** **%.

COVID ***** *** ******* *******

**** ***** ****** *** ****** ** grow **** ** *** **** ** a *********** **** ** ***** ***** in ****. **** ****, ****** **** its ****-****** ***** ***** "******* *************", declining **% **** ***** *****-******* ******* down **%:

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****** ***** ***** ******** **** * gross ****** ** **% ******** ** its ******* ******* ** **%. *******, ZKTeco's ***** ******* ******* **% ** 2021 *** **** ********* **** *** last **** *****, ******* ** ****:

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**** ************'* ***** ********* ****.********** *******, *******, **** *** *********+ ***** ******** were *** ******* *******.

Overseas ** ******** *****

*************** *** ***** ******** *** ****** split ******* *** *** *** ********, with ******** ****** ** **.**% ****** mainland ***** ** **.**%. ****** *** overseas *******, *** ** *** ** far *** *******, ******* $*** (**.**% of *** ******'* *****), ******** ** Mexico, ***, *****, *** ***** ******:

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**** ** * ****** ********** **** e.g.*****************, ***** **** **% *** **% of ***** ***** ******** **** **** low *** ******** *** ** ***** sanctions. ***** ***** *** ******** ** selling **** ******, **** ** *** higher *******, ***** *** **** *****, e.g. ******** *************** ** ******* ** other ************ ************.

Overseas ******* ******

******'* *** ******* *** **** ****** than *** ******* *******, ** **% in **** ******** ** **% ********; overall, ****** ***** **** "*** ***** profit ****** ** *** *******'* ******** sales *** ************* ****** **** **** of ******** *****", *********** **** ** higher ***** *********** *** ***** ****-************* overseas.

Impact ** *** ********

***** *** ******* *** ******* ****** are ***********, ****** *** **** *** situation ****** *** ************ **** **** year. **** ***** ****** ***** ***** developments *** *** ******* ** *** IPO ***********, *******, **** *** *** respond (** **** **, ** **** update.)

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