Kingold Jewelry, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 09, 2019 at 04:05 pm EDT
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Kingold Jewelry, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was USD 598.008 million compared to USD 678.796 million a year ago. Operating income was USD 62.691 million compared to USD 61.067 million a year ago. Net income was USD 12.589 million compared to USD 13.563 million a year ago. Basic earnings per share was USD 0.19 compared to USD 0.21 a year ago. Diluted earnings per share was USD 0.19 compared to USD 0.2 a year ago. For the half year, sales was USD 1,051.547 million compared to USD 1,218.320 million a year ago. Operating income was USD 115.262 million compared to USD 122.645 million a year ago. Net income was USD 18.969 million compared to USD 26.798 million a year ago. Basic earnings per share was USD 0.29 compared to USD 0.41 a year ago. Diluted earnings per share was USD 0.29 compared to USD 0.4 a year ago.
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.