Kingold Jewelry Announces Commencement Of Online Product Sales Through China
Kingold Seeks to Capitalize on Fast-growing e-commerce Opportunities
WUHAN, China, Nov. 26, 2013
WUHAN, China, Nov. 26, 2013 /PRNewswire/ -- Kingold Jewelry, Inc. (NASDAQ:
KGJI) ("Kingold" or the "Company"), one of China's leading manufacturers and
designers of high quality 24-karat gold jewelry, ornaments and
investment-oriented products, today announced that the Company has begun
selling its 24-karat gold products online through China Construction Bank's
("CCB") internet shopping portal, http://mall.ccb.com.CCB's site is linked to
a number of China's major manufacturers, wholesalers and retailers and is
targeting both the B2B and B2C end markets. CCB's online shopping channel has
integrated resources for banking, financing, sales, and logistics. The Company
believes this is an important step in targeting e-commerce business in China.
Mr. Zhihong Jia, Chairman and CEO of Kingold Jewelry, Inc., stated, "We
continue to seek new sales channels. Our recent gold leasing arrangements have
provided our Company with the capacity to service a broader customer
base.CCB's online portal is an important move for Kingold's development as it
provides the Company with access to a wide array of B2B and B2C customers and
accelerates our ability to seize fast growing e-commerce market opportunities
in China. We recently began selling our products online and expect our online
sales will continue to grow in the near future.We believe that by leveraging
relationships with partners such as CCB, we can continue to expand our market
share in China's gold production industry."
CCB is a leading commercial bank in China and provides a comprehensive range
of commercial banking products and services.As of June 2013, CCB had a
network of 14,295 branches in mainland China and 68 overseas institutions
covering 14 countries and regions.
About Kingold Jewelry, Inc.
Kingold Jewelry, Inc. (NASDAQ: KGJI), centrally located in Wuhan City, one of
China's largest cities, was founded in 2002 and today is one of China's
leading designers and manufacturers of 24-karat gold jewelry, ornaments and
investment-oriented products. The Company sells both directly to retailers as
well as through major distributors across China.Kingold has received numerous
industry awards and has been a member of the Shanghai Gold Exchange since
2003.For more information, please visit www.kingoldjewelry.com.
Business Risks and Forward-Looking Statements
This press release contains forward-looking statements that are subject to the
safe harbors created under the Securities Act of 1933 and the Securities
Exchange Act of 1934. These include statements regarding Kingold's sales
channels, and Kingold's ability to seize e-commerce opportunities, grow its
online sales, and expand its market share in China's gold production. Readers
are cautioned that actual results could differ materially from those expressed
in any forward-looking statements. Forward-looking statements are subject to
a number of risks, including those contained in Kingold's SEC filings
available at www.sec.gov, including Kingold's most recent Annual Report on
Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to
place undue reliance on any forward-looking statements, which speak only as of
the date on which they are made. Kingold undertakes no obligation to update
or revise any forward-looking statements for any reason.
Kingold Jewelry, Inc.
Bin Liu, CFO
Phone: +1-847-660-3498 (US) / +86-27-6569-4977 (China)
The Equity Group Inc.
Adam Prior, Senior Vice President
Katherine Yao, Associate
SOURCE Kingold Jewelry, Inc.
Press spacebar to pause and continue. Press esc to stop.