Kingold Jewelry, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended Dec. 31, 2018; Provides Operating Results Guidance for the Year 2019
April 02, 2019 at 04:05 pm EDT
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Kingold Jewelry, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended Dec. 31, 2018. For the quarter, the company reported net sales of $631,174,702 compared to $657,065,727 a year ago. Income from operations was $70,915,385 compared to $53,458,948 a year ago. Net income was $9,500,489 compared to $10,477,803 a year ago. Earnings per share, basic was $0.14 compared to $0.16 a year ago.
For the year, the company reported net sales of $2,475,666,092 compared to $2,009,732,643 a year ago. Income from operations was $252,148,771 compared to $185,994,455 a year ago. Net income was $49,546,714 compared to $26,192,652 a year ago. Earnings per share, basic was $0.75 compared to $0.40 a year ago.
The Company expects to process between 110 metric tons and 120 metric tons of 24-karat gold products in 2019.
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.
Kingold Jewelry, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended Dec. 31, 2018; Provides Operating Results Guidance for the Year 2019
KINGOLD JEWELRY, INC. 
