Kingold Jewelry, Inc. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2019. For the quarter, the company reported net sales of $453,539,100 compared to $539,524,055 a year ago. Income from operations was $52,570,830 compared to $61,578,286 a year ago. Net income was $6,380,579 or $0.10 per basic and diluted share compared to $13,234,924 or $0.20 per basic and diluted share a year ago

For the quarter, the company processed a total of 22.0 metric tons of gold, of which branded production was 11.2 metric tons, representing 50.9% of total gold processed, and customized production was 10.8 metric tons, representing 49.1% of total gold processed in the first quarter of 2019. In the first quarter of 2018, the Company processed a total of 23.3 metric tons, of which branded production was 13.0 metric tons, or 55.8% of the total gold processed, and customized production was 10.3 metric tons, or 44.2% of total gold processed.

For the year 2019, the company based on its existing resources and capacity along with strong demand for 24-karat gold products in China, the company reiterates its expectation that gold processed will be between 110 metric tons and 120 metric tons during 2019.