Kingold Jewelry, Inc. announced that the Company has appointed Alice Io Wai Wu to its Board of Directors. Ms. Wu will serve on the nominating committee, the audit committee and the compensation committee and will serve as the Chairman of the audit committee and an audit committee financial expert, until the annual meeting of the shareholders of the Company in 2016. Ms. Wu replaces Mr. H. David Sherman, who resigned from the Board as of May 9, 2016 to pursue other interests. Ms. Wu has been providing accounting, consulting and advisory services to public and private companies since September 2011 through her company Wu & Company, Inc. Ms. Wu has also been an independent director of Yulong Eco-materials Limited, since July 2015. From February 2015 to December 2015, she was Chief Financial Officer of The Future Education Group Inc.