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Stock Market & Financial Investment News

News Breaks
October 23, 2012
14:02 EDTKGJIKingold Jewelry signs agreement with Shanghai Laofengxiang
Kingold Jewelry has entered into a major gold-processing agreement with Shanghai Laofengxiang Jewelry Research Institute, a subsidiary of Shanghai Laofengxiang Co., Ltd.Pursuant to the agreement, Kingold will process a variety of 24-karat gold jewelry products for Shanghai Laofengxiang beginning immediately until December 31, 2013. Kingold will process at least 5 tons, or approximately 176,370 ounces, of jewelry products until the expiration date of the agreement. In contrast, Kingold processed around 2 tons of gold jewelry for Shanghai Laofengxiang in 2011. Based on the processing fee of RMB 10.6 yuan per 1 gram of 24-karat gold, this would equate to approximately RMB 53M or $8.4M of processing fees in the next five quarters.
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January 21, 2015
08:36 EDTKGJIKingold obtains presale approval for Kingold Jewelry Industry Park
Kingold Jewelry announced that the company has obtained approval from the Wuhan Housing Security and Management Bureau in Wuhan, China to pre-sell certain commercial units within the Kingold Jewelry International Industrial Park. The company formally received two separate "Certificates of Presale of Commercial Properties" from Wuhan Housing Security and Management Bureau, which cover five commercial buildings, totaling approximately 123,600 square meters. The company is now seeking potential buyers for these commercial properties, and is expected to utilize any proceeds from the presale of these units to complete construction on the Jewelry Park. Kingold expects to complete the Jewelry Park within the previously announced timeframe, and plans to schedule a grand opening ceremony in December 2015.

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