Kingold Jewelry, Inc. Announces Operating Results for the Third Quarter and Nine Months Ended September 30, 2018
November 15, 2018 at 01:30 pm
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Kingold Jewelry, Inc. announced operating results for the third quarter and nine months ended September 30, 2018. In the third quarter of 2018, the company processed approximately 29.6 metric tons of 24-karat gold products, decreased 1.7% compared to 30.1 metric tons for the same period last year. Among the 29.6 metric tons, the company processed during the third quarter 2018, of which branded production accounted for 16.6 metric tons or 56.1% of the total volume and the customized production accounted for 13 metric tons or 43.9% of the total volume.
For the first nine months, the company processed approximately 80.5 metric tons of 24-karat gold products, an increase of 11.5%, compared to 72.2 metric tons for the same period last year. Among the 80.5 metric tons the company processed during the 9 months of 2018, of which branded production accounted for 46.5 metric tons or 57.7% of the total volume and customized production accounted for 34 metric tons or 42.3% of the total volume.
Kingold Jewelry Inc designs and manufactures 24-karat gold jewelry and Chinese ornaments. The Company develops, promotes and sells a range of products to the jewelry market across the People's Republic of China (PRC). The Company offers a range of in-house designed products, including, but not limited to, gold necklaces, rings, earrings, bracelets and pendants. The Company also sells investment gold products through banks in China. The Company sells its products directly to distributors, retailers and other wholesalers, who then sell its products to consumers through retail counters located in both department stores and other traditional stand-alone jewelry stores.