China Tracker - Details for Kingold Jewelry (KGJI)

 Kingold Jewelry
Shares Outstanding (MRQ): 49.80 mill 
New Shares / Dilution (TTM): 16.50 mill49.55%
New Shares / Dilution (since Dec 31, 2008): 16.70 mill50.45% 
Cash (MRQ): 9.15 mill8.73%
Account Receivables (MRQ): 1.17 mill1.11%
Account Receivables (Q/Q): + 0.83 mill  
Long-Term Debt (MRQ): NO DEBT
Revenue Growth (Q/Q): 8.98% 
Revenue Growth (Y/Y): 216.61%
Net Income Growth (Q/Q): -11.14% 
Net Income Growth (Y/Y): 60.48%
EPS Growth (Y/Y): 7.31% 
Net Margin (Q/Q): 2.5% (3.1%)-0.60% 
Net Margin (Y/Y): 2.5% (5.0%)-2.50% 
EPS | P/E (2 MRQ Projection): $0.405.29
CFPS | P/CF (2 MRQ Projection): $0.2110.03 
Price/Sales (2 MRQ Projection): 0.15
Price/Book (MRQ): 1.45 
Auditor: Friedman 
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2011-04-18): $0.603.51
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2009-12-23 
Uplisting to Senior Exchange: on 2010-08-18 at $7.20 (-70.77% since Uplisting)

 Business Outlook

The Company reaffirms its 2011 guidance for revenue of between $720 million and $780 million and net income of between $30 million and $32 million. The Company's guidance assumes, among other things, relatively stable gold prices for the remainder of the year, no additional capital raises in 2011, and meaningful contribution from its new line of investment-oriented gold products starting in the second half of 2011.

"Our performance in the first quarter sets the stage for another year of strong organic growth at Kingold. We continue to see above average growth prospects for our popular Mgold jewelry portfolio and for our new line of investment-oriented gold products, both of which are higher margin revenue streams. Furthermore, we expect to reap benefits from an expanding distribution network. In April, we celebrated the opening of our new showroom and distribution center in Shenzhen, the heart of China's jewelry industry, and in the second quarter of 2011 we expect to open a northern distribution hub in Beijing, the capital of China."

(Source: PR Newswire, 2011-05-10)

We recently hired a well-regarded consulting firm in China to bolster our internal controls and 404 compliance who conducted an in-depth review of our internal control over financial reporting and continues to support us regarding financial controls. When we had an issue with a non-cash stock compensation expense resulting from the issuance of 100,000 shares of restricted common stock that was previously disclosed, we hired a Big 4 accounting firm to evaluate the effect of the expense on our financial statements which resulted in a de minimis charge. Our decisive action demonstrates our commitment to achieving a very high standard of corporate governance. Our goal is to have the best corporate governance of any Chinese company listed on a U.S. exchange.

(Source: PR Newswire, 2011-05-02)

In 2011, the Company anticipates revenue of between $720 million and $780 million and net income of between $30 million and $32 million. The Company's guidance assumes, among other things, relatively stable gold prices for the remainder of the year, no additional capital raises in 2011, and meaningful contribution from its new line of financially-oriented gold products starting in the second half of 2011.

"We commenced 2011 with fresh capital, which will better enable us to meet continuing strong demand for our products. We see above average growth prospects for our popular MGold jewelry portfolio and for our new line of financially-oriented gold products, both of which are higher margin revenue streams. This year we seek to solidify Kingold's market leadership and enhance shareholder value by aiming to manufacture the highest quality 24-karat gold jewelry, ornaments and financially-oriented products available in China."

(Source: PR Newswire, 2011-03-31)

    see all Business Outlook notes

 Analyst Coverage (show more)
2010-08-19Red ChipInitiationBuy$9.60

 Recent Financings
2011-01-20Priced$20.20 mill7.20 mill shares$3.19
2011-01-14Priced$23.00 mill7.20 mill shares$3.19
2010-06-18Filing$25.00 mill--
KGJI
Retail/Consumer
SCORE
10
READ: Score Cards Explained
SAFETY/RISK SCORE
HIGH RISK
DETAILS: Safety/Risk Model for KGJI
Current Price:  $2.11
F10k Day (2010-04-08): -12.30%$2.40
2009 Close: 78.38%$1.18
2010 Close: -48.41%$4.08
2011 Close: 84.64%$1.14
High (2012-05-08): -28.16%$2.93
Low (2012-10-15): 83.04%$1.15
Exchange: NCM
Market Capitalization: 104.84 mill
Total Shares: 49.80 mill
Float: 45,187,000.00 mill
Avg Volume: 159.90 k
Short Interest: 59.90 k
Short Ratio: 1.45%0.4 d
Last Quarter: 2010-12-31
Revenue (MRQ): 184.94 mill
Net Income (MRQ): 4.66 mill
Op. Cash Flow (MRQ): 2.52 mill
all financial data provided without warranty