Kingold Jewelry, Inc. reported unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2018. For the quarter, net sales were $678,796,263 against $475,891,200 a year ago. Income from operations was $61,067,288 against $44,612,837 a year ago. Income from operations before taxes was $18,211,964 against $6,136,805 a year ago. Net income was $13,563,797 against $8,033,618 a year ago. Earnings per diluted share were $0.20 against $0.12 per basic and diluted share a year ago. 

For six months, net sales were $1,218,320,318 against $768,155,277 a year ago. Income from operations was $122,645,574 against $57,856,355 a year ago. Income from operations before taxes was $36,049,371 against loss of $17,456,963 a year ago. Net income was $26,798,721 against loss of $13,272,201 a year ago. Earnings per diluted share were $0.40 against loss of $0.20 per basic and diluted share a year ago. Net cash provided by operating activities was $446,251,148 against cash used in operating activities of $257,032,435 a year ago. Purchases of property and equipment were $453,522 against $1,141,219 a year ago.

For the quarter, total Gold processed was 27.6 metric tons against 26 metric tons a year ago.

For six months, total Gold processed was 50.9 metric tons against 42.1 metric tons a year ago.

Based on its existing resources and capacity along with strong demand for 24-karat gold products in China, the Company reiterates its expectation that gold processed will be between 100 metric tons and 110 metric tons during 2018.