This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Kingold Jewelry Inc. (KGJI) Reports Record Results For Year End 2009

Kingold Jewelry, China’s leading manufacturer of 24 carat jewelry sold mostly by weight, announces its 2009 results. Revenue increased by 128% and the balance sheet is greatly strengthened.

 

FINANCIAL SUMMARY (in U.S. Dollars)

 

 

FULL YEAR RESULTS for 2009

 

 

INCOME STATEMENT

 

 

FOR THE FISCAL YEARS ENDED AS OF DECEMBER 31,

 

 

2008

           

2009

 
Revenue: $ 109,782,936 $ 250,450,650
 
Income from
Operations $ 8,441,970 $ 12,613,309
Before taxes:
 
Net Income: $ 7,812,631 $ 9,005,233
 
 

 

BALANCE SHEET

 

 

AS OF DECEMBER 31,

 

2008

2009

 
Cash: $ 281,994 $ 7,964,120
 
Inventories: $ 24,862,355 $ 31,756,009
 
Current Assets: $ 29,238,394 $ 47,561,318
 
Short Term Loans: $ 14,151,907 $ 8,775,522
 
Current Liabilities: $ 10,683,428 $ 17,084,008
 

About Kingold Jewelry Inc.

Kingold, centrally located in Wuhan City, China’s fourth largest city, was founded in 2002 and today is China’s leading designer and manufacturer of 24-K gold jewelry sold by weight. The Company has a well regarded in-house design team and sells both directly to retailers and through major distributors across China. Kingold has received numerous industry awards and is one of only 162 members of the Shanghai Gold Exchange. Sales have grown from $29 million in FY2006 to $250 million in FY 2009 with net income growing from $1.3 million to $9 million over the same period. Demand for 24K gold jewelry is growing rapidly due to increased demand from China’s expanding urban middle class, who consider it a store of wealth. Kingold is well positioned to consolidate its leadership position in this high growth market.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
KGJI $1.21 0.00%
AAPL $129.00 -1.10%
FB $78.97 0.00%
GOOG $558.40 0.00%
TSLA $202.51 -2.30%

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs