Intrinsic value of Kingold Jewelry - KGJI

Previous Close

$1.04

  Intrinsic Value

$126.75

stock screener

  Rating & Target

str. buy

+999%

Previous close

$1.04

 
Intrinsic value

$126.75

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of KGJI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  42.60
  38.84
  35.46
  32.41
  29.67
  27.20
  24.98
  22.98
  21.19
  19.57
  18.11
  16.80
  15.62
  14.56
  13.60
  12.74
  11.97
  11.27
  10.64
  10.08
  9.57
  9.11
  8.70
  8.33
  8.00
  7.70
  7.43
  7.19
  6.97
  6.77
Revenue, $m
  2,866
  3,979
  5,390
  7,137
  9,254
  11,771
  14,712
  18,093
  21,927
  26,217
  30,965
  36,167
  41,816
  47,903
  54,419
  61,353
  68,695
  76,438
  84,573
  93,097
  102,008
  111,305
  120,992
  131,074
  141,558
  152,457
  163,784
  175,554
  187,786
  200,501
Variable operating expenses, $m
  2,594
  3,601
  4,878
  6,459
  8,375
  10,653
  13,314
  16,374
  19,843
  23,726
  28,023
  32,730
  37,843
  43,352
  49,248
  55,523
  62,168
  69,174
  76,537
  84,251
  92,315
  100,729
  109,495
  118,619
  128,107
  137,971
  148,221
  158,873
  169,943
  181,450
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,594
  3,601
  4,878
  6,459
  8,375
  10,653
  13,314
  16,374
  19,843
  23,726
  28,023
  32,730
  37,843
  43,352
  49,248
  55,523
  62,168
  69,174
  76,537
  84,251
  92,315
  100,729
  109,495
  118,619
  128,107
  137,971
  148,221
  158,873
  169,943
  181,450
Operating income, $m
  272
  378
  512
  678
  879
  1,118
  1,398
  1,719
  2,083
  2,491
  2,942
  3,437
  3,973
  4,552
  5,171
  5,830
  6,528
  7,263
  8,036
  8,846
  9,693
  10,576
  11,497
  12,455
  13,451
  14,487
  15,563
  16,681
  17,844
  19,052
EBITDA, $m
  275
  381
  516
  684
  887
  1,128
  1,410
  1,734
  2,101
  2,512
  2,967
  3,466
  4,007
  4,590
  5,215
  5,879
  6,582
  7,324
  8,104
  8,921
  9,775
  10,665
  11,594
  12,560
  13,564
  14,609
  15,694
  16,822
  17,994
  19,212
Interest expense (income), $m
  60
  176
  212
  262
  325
  403
  498
  611
  743
  895
  1,066
  1,259
  1,472
  1,705
  1,958
  2,231
  2,523
  2,834
  3,163
  3,510
  3,875
  4,257
  4,657
  5,073
  5,508
  5,960
  6,430
  6,918
  7,426
  7,954
  8,502
Earnings before tax, $m
  96
  166
  250
  353
  476
  620
  787
  976
  1,189
  1,425
  1,684
  1,965
  2,269
  2,594
  2,940
  3,307
  3,694
  4,100
  4,526
  4,971
  5,436
  5,920
  6,423
  6,947
  7,491
  8,057
  8,645
  9,255
  9,890
  10,550
Tax expense, $m
  26
  45
  68
  95
  129
  167
  212
  264
  321
  385
  455
  531
  613
  700
  794
  893
  997
  1,107
  1,222
  1,342
  1,468
  1,598
  1,734
  1,876
  2,023
  2,175
  2,334
  2,499
  2,670
  2,848
Net income, $m
  70
  121
  183
  258
  347
  453
  574
  713
  868
  1,040
  1,229
  1,434
  1,656
  1,893
  2,146
  2,414
  2,696
  2,993
  3,304
  3,629
  3,968
  4,321
  4,689
  5,071
  5,469
  5,882
  6,311
  6,756
  7,220
  7,701

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,131
  2,958
  4,007
  5,306
  6,880
  8,752
  10,938
  13,452
  16,302
  19,492
  23,022
  26,890
  31,090
  35,616
  40,460
  45,615
  51,074
  56,831
  62,880
  69,217
  75,842
  82,755
  89,957
  97,452
  105,248
  113,351
  121,772
  130,524
  139,618
  149,072
Adjusted assets (=assets-cash), $m
  2,131
  2,958
  4,007
  5,306
  6,880
  8,752
  10,938
  13,452
  16,302
  19,492
  23,022
  26,890
  31,090
  35,616
  40,460
  45,615
  51,074
  56,831
  62,880
  69,217
  75,842
  82,755
  89,957
  97,452
  105,248
  113,351
  121,772
  130,524
  139,618
  149,072
Revenue / Adjusted assets
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
  1.345
Average production assets, $m
  11
  16
  22
  29
  37
  47
  59
  72
  88
  105
  124
  145
  167
  192
  218
  245
  275
  306
  338
  372
  408
  445
  484
  524
  566
  610
  655
  702
  751
  802
Working capital, $m
  662
  919
  1,245
  1,649
  2,138
  2,719
  3,398
  4,180
  5,065
  6,056
  7,153
  8,355
  9,660
  11,066
  12,571
  14,173
  15,869
  17,657
  19,536
  21,506
  23,564
  25,712
  27,949
  30,278
  32,700
  35,218
  37,834
  40,553
  43,379
  46,316
Total debt, $m
  3,162
  3,907
  4,851
  6,020
  7,436
  9,121
  11,089
  13,351
  15,916
  18,787
  21,964
  25,445
  29,225
  33,298
  37,658
  42,298
  47,211
  52,392
  57,836
  63,540
  69,502
  75,724
  82,205
  88,951
  95,967
  103,260
  110,839
  118,715
  126,900
  135,409
Total liabilities, $m
  1,918
  2,663
  3,607
  4,775
  6,192
  7,877
  9,845
  12,107
  14,672
  17,543
  20,720
  24,201
  27,981
  32,054
  36,414
  41,054
  45,967
  51,148
  56,592
  62,296
  68,258
  74,479
  80,961
  87,707
  94,723
  102,016
  109,595
  117,471
  125,656
  134,165
Total equity, $m
  213
  296
  401
  531
  688
  875
  1,094
  1,345
  1,630
  1,949
  2,302
  2,689
  3,109
  3,562
  4,046
  4,562
  5,107
  5,683
  6,288
  6,922
  7,584
  8,275
  8,996
  9,745
  10,525
  11,335
  12,177
  13,052
  13,962
  14,907
Total liabilities and equity, $m
  2,131
  2,959
  4,008
  5,306
  6,880
  8,752
  10,939
  13,452
  16,302
  19,492
  23,022
  26,890
  31,090
  35,616
  40,460
  45,616
  51,074
  56,831
  62,880
  69,218
  75,842
  82,754
  89,957
  97,452
  105,248
  113,351
  121,772
  130,523
  139,618
  149,072
Debt-to-equity ratio
  14.840
  13.210
  12.100
  11.340
  10.810
  10.420
  10.140
  9.920
  9.760
  9.640
  9.540
  9.460
  9.400
  9.350
  9.310
  9.270
  9.240
  9.220
  9.200
  9.180
  9.160
  9.150
  9.140
  9.130
  9.120
  9.110
  9.100
  9.100
  9.090
  9.080
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  70
  121
  183
  258
  347
  453
  574
  713
  868
  1,040
  1,229
  1,434
  1,656
  1,893
  2,146
  2,414
  2,696
  2,993
  3,304
  3,629
  3,968
  4,321
  4,689
  5,071
  5,469
  5,882
  6,311
  6,756
  7,220
  7,701
Depreciation, amort., depletion, $m
  2
  3
  4
  6
  7
  9
  12
  15
  18
  21
  25
  29
  33
  38
  44
  49
  55
  61
  68
  74
  82
  89
  97
  105
  113
  122
  131
  140
  150
  160
Funds from operations, $m
  73
  125
  187
  264
  355
  462
  586
  727
  885
  1,061
  1,254
  1,463
  1,690
  1,932
  2,190
  2,463
  2,751
  3,054
  3,372
  3,703
  4,050
  4,410
  4,786
  5,176
  5,582
  6,004
  6,442
  6,897
  7,370
  7,862
Change in working capital, $m
  198
  257
  326
  404
  489
  581
  679
  781
  885
  991
  1,097
  1,202
  1,305
  1,406
  1,505
  1,602
  1,696
  1,788
  1,879
  1,969
  2,058
  2,148
  2,238
  2,329
  2,422
  2,518
  2,616
  2,719
  2,826
  2,937
Cash from operations, $m
  -125
  -133
  -139
  -140
  -134
  -119
  -93
  -54
  0
  70
  157
  262
  385
  526
  685
  861
  1,055
  1,266
  1,492
  1,734
  1,991
  2,263
  2,548
  2,847
  3,160
  3,486
  3,825
  4,178
  4,544
  4,924
Maintenance CAPEX, $m
  -1
  -2
  -3
  -4
  -6
  -7
  -9
  -12
  -14
  -18
  -21
  -25
  -29
  -33
  -38
  -44
  -49
  -55
  -61
  -68
  -74
  -82
  -89
  -97
  -105
  -113
  -122
  -131
  -140
  -150
New CAPEX, $m
  -4
  -4
  -6
  -7
  -8
  -10
  -12
  -14
  -15
  -17
  -19
  -21
  -23
  -24
  -26
  -28
  -29
  -31
  -33
  -34
  -36
  -37
  -39
  -40
  -42
  -44
  -45
  -47
  -49
  -51
Cash from investing activities, $m
  -5
  -6
  -9
  -11
  -14
  -17
  -21
  -26
  -29
  -35
  -40
  -46
  -52
  -57
  -64
  -72
  -78
  -86
  -94
  -102
  -110
  -119
  -128
  -137
  -147
  -157
  -167
  -178
  -189
  -201
Free cash flow, $m
  -131
  -139
  -148
  -151
  -148
  -137
  -114
  -79
  -30
  35
  117
  216
  333
  468
  620
  790
  977
  1,180
  1,399
  1,633
  1,881
  2,144
  2,420
  2,710
  3,013
  3,329
  3,658
  4,000
  4,355
  4,723
Issuance/(repayment) of debt, $m
  535
  745
  944
  1,169
  1,417
  1,684
  1,968
  2,263
  2,565
  2,871
  3,177
  3,481
  3,780
  4,073
  4,360
  4,640
  4,913
  5,181
  5,444
  5,704
  5,962
  6,221
  6,482
  6,746
  7,016
  7,293
  7,579
  7,876
  8,185
  8,508
Issuance/(repurchase) of shares, $m
  31
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  566
  745
  944
  1,169
  1,417
  1,684
  1,968
  2,263
  2,565
  2,871
  3,177
  3,481
  3,780
  4,073
  4,360
  4,640
  4,913
  5,181
  5,444
  5,704
  5,962
  6,221
  6,482
  6,746
  7,016
  7,293
  7,579
  7,876
  8,185
  8,508
Total cash flow (excl. dividends), $m
  435
  606
  796
  1,018
  1,268
  1,548
  1,853
  2,183
  2,535
  2,906
  3,294
  3,697
  4,113
  4,541
  4,980
  5,430
  5,890
  6,361
  6,843
  7,337
  7,844
  8,365
  8,902
  9,456
  10,029
  10,622
  11,237
  11,876
  12,540
  13,232
Retained Cash Flow (-), $m
  -101
  -83
  -105
  -130
  -157
  -187
  -219
  -251
  -285
  -319
  -353
  -387
  -420
  -453
  -484
  -516
  -546
  -576
  -605
  -634
  -662
  -691
  -720
  -750
  -780
  -810
  -842
  -875
  -909
  -945
Prev. year cash balance distribution, $m
  279
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  613
  523
  692
  888
  1,111
  1,361
  1,635
  1,932
  2,250
  2,587
  2,941
  3,310
  3,693
  4,089
  4,496
  4,914
  5,344
  5,785
  6,238
  6,703
  7,181
  7,674
  8,182
  8,707
  9,249
  9,812
  10,395
  11,001
  11,630
  12,286
Discount rate, %
  8.10
  8.51
  8.93
  9.38
  9.85
  10.34
  10.85
  11.40
  11.97
  12.57
  13.19
  13.85
  14.55
  15.27
  16.04
  16.84
  17.68
  18.57
  19.49
  20.47
  21.49
  22.57
  23.69
  24.88
  26.12
  27.43
  28.80
  30.24
  31.75
  33.34
PV of cash for distribution, $m
  567
  444
  535
  620
  695
  754
  795
  815
  814
  792
  752
  698
  632
  559
  483
  407
  336
  270
  212
  162
  120
  87
  61
  42
  28
  18
  11
  7
  4
  2
Current shareholders' claim on cash, %
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5
  71.5

Kingold Jewelry, Inc. designs and manufactures 24-karat gold jewelry and Chinese ornaments, through a variable interest entity relationship with Wuhan Kingold Jewelry Company Limited (Wuhan Kingold). The Company develops, promotes and sells a range of products to the jewelry market across the People's Republic of China (PRC). The Company offers a range of in-house designed products, including, but not limited to, gold necklaces, rings, earrings, bracelets and pendants. The Company also sells gold bars and coins and other products through agreements with various banks in China. The Company sells its products directly to distributors, retailers and other wholesalers, who then sell its products to consumers through retail counters located in both department stores and other traditional stand-alone jewelry stores. The Company's subsidiary, Wuhan Kingold Internet Co., Ltd., is engaged in online sales of jewelry products.

FINANCIAL RATIOS  of  Kingold Jewelry (KGJI)

Valuation Ratios
P/E Ratio 0.7
Price to Sales 0
Price to Book 0.2
Price to Tangible Book
Price to Cash Flow -0.9
Price to Free Cash Flow -0.9
Growth Rates
Sales Growth Rate 42.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 1
Current Ratio 0.2
LT Debt to Equity 597.9%
Total Debt to Equity 691.1%
Interest Coverage 3
Management Effectiveness
Return On Assets 10.1%
Ret/ On Assets - 3 Yr. Avg. 11.6%
Return On Total Capital 7%
Ret/ On T. Cap. - 3 Yr. Avg. 9.6%
Return On Equity 33.9%
Return On Equity - 3 Yr. Avg. 20.7%
Asset Turnover 1
Profitability Ratios
Gross Margin 10.3%
Gross Margin - 3 Yr. Avg. 7%
EBITDA Margin 13.2%
EBITDA Margin - 3 Yr. Avg. 7.8%
Operating Margin 13.9%
Oper. Margin - 3 Yr. Avg. 7.6%
Pre-Tax Margin 8.9%
Pre-Tax Margin - 3 Yr. Avg. 5.8%
Net Profit Margin 6.5%
Net Profit Margin - 3 Yr. Avg. 4.3%
Effective Tax Rate 26.2%
Eff/ Tax Rate - 3 Yr. Avg. 24.7%
Payout Ratio 0%

KGJI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KGJI stock intrinsic value calculation we used $2009.732643 million for the last fiscal year's total revenue generated by Kingold Jewelry. The default revenue input number comes from 0001 income statement of Kingold Jewelry. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KGJI stock valuation model: a) initial revenue growth rate of 42.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.1%, whose default value for KGJI is calculated based on our internal credit rating of Kingold Jewelry, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Kingold Jewelry.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KGJI stock the variable cost ratio is equal to 90.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for KGJI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.7% for Kingold Jewelry.

Corporate tax rate of 27% is the nominal tax rate for Kingold Jewelry. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KGJI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KGJI are equal to 0.4%.

Life of production assets of 4.7 years is the average useful life of capital assets used in Kingold Jewelry operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KGJI is equal to 23.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $390.232387 million for Kingold Jewelry - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 66.114 million for Kingold Jewelry is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Kingold Jewelry at the current share price and the inputted number of shares is $0.1 billion.

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COMPANY NEWS

▶ Kingold Jewelry: 2Q Earnings Snapshot   [Aug-09-18 05:52PM  Associated Press]
▶ How Financially Strong Is Kingold Jewelry Inc (NASDAQ:KGJI)?   [Dec-25-17 01:15PM  Simply Wall St.]
▶ Penny Stocks to Watch for December 2017   [Nov-30-17 11:02AM  Investopedia]
▶ KINGOLD JEWELRY, INC. to Host Earnings Call   [Nov-10-17 06:30AM  ACCESSWIRE]
▶ Kingold Jewelry posts 3Q profit   [Nov-09-17 05:33PM  Associated Press]
▶ Should You Buy Kingold Jewelry Inc (KGJI) At This PE Ratio?   [Sep-11-17 06:09PM  Simply Wall St.]
▶ Kingold Jewelry reports 1Q loss   [May-10-17 06:16PM  Associated Press]
▶ Kingold Jewelry posts 4Q profit   [05:21PM  Associated Press]
▶ Kingold Jewelry (KGJI) Stock Soars After Q2 Results   [Aug-15-16 11:26AM  TheStreet.com]
▶ Why These Five Stocks Are in Spotlight on Monday   [10:58AM  at Insider Monkey]
▶ /C O R R E C T I O N -- Kingold Jewelry, Inc./   [Mar-28-16 06:03PM  PR Newswire]

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