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Kingold Jewelry announces formation of joint venture with Kuwait Support Services Company W.l.l.

Kingold Jewelry, Inc., 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 signed a joint venture agreement with Kuwait Support Services Company W.L.L. (“KSS”), a major multi-business group headed by His Excellency Sheikh Ameer Al Sabah of Kuwait. The two companies will form a combined entity that is expected to source and finance gold, and to develop, market, and distribute gold products including, but not limited to, gold coins, gold bullion, medals, ornaments, and jewelry. The Company expects to market these products initially to customers in Kuwait, and then to customers in Bahrain, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

Mr. Zhihong Jia, Chairman and CEO of Kingold Jewelry, Inc., stated, “We are so pleased to work with Sheikh Ameer and KSS to explore the fast growing Middle East gold market. This marks the first international business expansion for Kingold and we are looking forward to partnering with KSS to provide our quality gold products to a large population of potential consumers.”

Kingold Jewelry, Inc.
Bin Liu, CFO
Phone: +1-847-660-3498 (US)