Kingold Announces Strategic Partnership with World Gold Council
WUHAN CITY, China, March 16, 2012 /PRNewswire-Asia/ — Kingold Jewelry, Inc. (NASDAQ: KGJI) announced today that Kingold once again won the confidence vote by the World Gold Council (WGC) and was awarded by WGC as the Designated Dealer for wedding gold products in China.
Kingold has been authorized this title for the second consecutive year, and is one out of only three China-based gold manufacturers to capture this title. The other two companies are Gold Leaf Jewelry and Yue Hao Jewelry.
Kingold will operate and produce its wedding products under the Kingold brand as well as the M-Gold brand which are Kingold’s premium line of wedding products targeting high-end customers. “By leveraging this partnership, we have launched several campaigns in Sichuan, Chongqing, Guizhou, Guangxi and Yunnan area and received very positive feedback from the local distributors.” Stated by Mr. Zhao Bin, General Manager of Kingold, “This partnership further reinforces and enhances our position as one of the leading manufacturers and designers of high quality 24-karat gold jewelry and ornaments. “
“Gold consumption in China has been spurred by wedding demand. We have been striving to develop middle to high-end wedding gold products in the past few years. The strategic partnerships with World Gold Council will help us to stimulate customers’ potential purchasing power and significantly enhance our brand recognition.” Added Mr. Zhihong Jia, Chairman and CEO of Kingold, “As one of the first gold manufacturers to be certified and recommended by the World Gold Council to promote wedding products, our distributors have helped us to develop more than 500 franchise stores/counters nationwide by the end of 2011, in which over 400 were franchised under the brand name M-Gold, and approximately 100 were franchised under the brand name Kingold. We anticipate the total number of our franchise stores may exceed 1,000 by the end of this year.”
About the World Gold Council
The World Gold Council is the market development organization for the gold industry. Working within the investment, jewelry and technology sectors, as well as engaging in government affairs, the purpose is to provide industry leadership, whilst stimulating and sustaining demand for gold.
The World Gold Council provides insights into the international gold markets, helping people to better understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.
Based in the UK, with operations in Asia, Europe and the US, the World Gold Council is an association whose 24 members comprise the world’s leading gold mining companies, representing approximately 60% of global corporate gold production.
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, as amended, and the Securities Exchange Act of 1934, as amended. Readers are cautioned that actual results could differ materially from those expressed in any forward-looking statements. In addition, please refer to the risk factors 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, Vice President
Phone: (212) 836-9606
Katherine Yao, Account Executive
Phone: +86 10-6587-6435
SOURCE Kingold Jewelry, Inc.