Kingold Jewelry, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 12, 2019 at 04:15 pm EST
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Kingold Jewelry, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 382.790 million compared to USD 626.171 million a year ago. Operating income was USD 12.789 million compared to USD 58.587 million a year ago. Net loss was USD 24.004 million compared to net income of USD 13.247 million a year ago. For the nine months, sales was USD 1,434.337 million compared to USD 1,844.491 million a year ago. Operating income was USD 128.052 million compared to USD 181.233 million a year ago. Net loss was USD 5.034 million compared to net income of USD 40.046 million 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.
KINGOLD JEWELRY, INC. 
