Kingold Jewelry, Inc. Reports Unaudited Consolidated Production Results for the Second Quarter and Six Months Ended June 30, 2019; Reiterates Production Guidance for the Year 2019
August 09, 2019 at 04:05 pm EDT
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Kingold Jewelry, Inc. reported unaudited consolidated production results for the second quarter and six months ended June 30, 2019. For the quarter, the company processed a total of total of 27.9 metric tons of 24-karat gold products, compared to 27.6 metric tons.
For the six months ended June 30, 2019, the Company processed a total of 49.9 metric tons of gold, of which branded production was 26.0 metric tons, representing 52.1% of total gold processed, and customized production was 23.9 metric tons, representing 47.9% of total gold processed in the first half of 2019. In the first half of 2018, the Company processed a total of 50.9 metric tons of gold, of which branded production was 29.9 metric tons, representing 58.6% of total gold processed, and customized production was 21.0 metric tons, representing
41.4% of total gold processed.
The Company reiterates guidance of 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. Reports Unaudited Consolidated Production Results for the Second Quarter and Six Months Ended June 30, 2019; Reiterates Production Guidance for the Year 2019