Dow Falls Over 50 Points; Core & Main Posts Upbeat Earnings
U.S. Stock Market Performance: U.S. stocks traded mostly lower, with the Dow Jones down over 50 points and declines in the NASDAQ and S&P 500, while utilities shares saw a slight increase.
International Market Trends: European and Asian markets closed higher, with notable gains in Japan and Hong Kong, while UK retail sales fell significantly against expectations.
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Chaince Digital and ZJK to Invest $200 Million in U.S. Gigafactory
- Strategic Cooperation Agreement: Chaince Digital has signed a non-binding Strategic Cooperation Framework Agreement with ZJK to establish a precision components R&D and manufacturing gigafactory in the U.S., with an expected investment of up to $200 million, aimed at strengthening the U.S. high-end manufacturing ecosystem.
- Diverse Technology Applications: The gigafactory will focus on high-value precision components for AI, semiconductor, and other advanced technology industries, including intelligent hardware and liquid-cooling components, thereby advancing U.S. manufacturing capabilities.
- Capital Markets Advisory Appointment: Chaince Securities has been appointed by ZJK as its five-year capital markets strategic advisor, focusing on financing and supporting the construction of the U.S. gigafactory, further solidifying Chaince's role in digital asset infrastructure.
- Localized Management Advantages: The joint venture will be operated by a U.S.-based management team, combining ZJK's manufacturing expertise with Chaince's capital market strengths, which is expected to accelerate supply chain localization and enhance competitiveness in high-end manufacturing sectors.
ZJK Industrial Co., Ltd. Reports Financial Results for the First Six Months of Fiscal Year 2025
Financial Performance: ZJK Industrial Co., Ltd. reported a 52.21% increase in revenue to $24.70 million for the first half of fiscal year 2025, with gross profit rising by 63.01% to $12.32 million, and net income increasing by 7.59% to $5.84 million compared to the same period last year.
Operational Expansion: The company is enhancing its production capacity and technological capabilities, investing in advanced machinery and R&D, while also expanding its market presence, particularly in North America and Asia, leading to significant increases in selling and marketing expenses.
