Kingold Jewelry Announces Commencement Of Online Product Sales Through China Construction Bank
Kingold Seeks to Capitalize on Fast-growing e-commerce Opportunities
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.
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