KINGOLD JEWELRY, INC. (NASDAQ:KGJI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

On June 1, 2020, Kingold Jewelry Inc. (the “Registrant” or “Company”) announced (i) the resignation of Mr. Bin Liu as Chief Financial Officer, effective June 1, 2020, and (ii) the appointment of Mr. Yi Huang as Acting Chief Financial Officer, effective June 1, 2020.

In order to assist with an orderly handover of his responsibilities to Mr. Huang, Mr. Liu has indicated to the Board of Directors (the “Board”) his willingness to assist Mr. Huang to ensure a smooth transition.  The Board accepted Mr. Liu’s resignation. The Registrant and the Board expressed its appreciation for Mr. Liu’s service to the Company.

On May 29, 2020, the Registrant appointed Mr. Yi Huang to serve as Acting Chief Financial Officer. Mr. Huang is a certified public accountant and currently serves as the Vice President of Wuhan Kingold Jewelry Company Limited (“Wuhan Kingold”), a contractually controlled affiliate of the Registrant. The Board approved Mr. Huang’s appointment. Mr. Huang has served Wuhan Kingold since 2005. Mr. Huang received his Bachelor’s degree in accounting from Zhongnan University of Economics and Law, China.

No family relationship exists between Mr. Huang and any of the Company’s directors or executive officers. There are no relationships or related transactions between Mr. Huang and the Registrant that would be required to be reported under Section 404(a) of Regulation S-K.

On June 1, 2020, the Registrant issued a press release announcing the appointment of Yi Huang as Acting CFO, a copy of which is attached hereto as Exhibit 99.1.

KINGOLD JEWELRY, INC. Exhibit
EX-99.1 2 tm2021344d1_ex99-1.htm EXHIBIT 99.1   Exhibit 99.1      Kingold Jewelry Announces Appointment of Yi Huang as Acting CFO   WUHAN CITY,…
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About KINGOLD JEWELRY, INC. (NASDAQ:KGJI)

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.