Home / Knowledge / News / Fashion / Activeworlds completes acquisition of Wuhan Kingold
Activeworlds completes acquisition of Wuhan Kingold
Dec '09
Activeworlds Corp. announced that it has completed its acquisition of Wuhan Kingold Jewelry Co., Ltd. a leading designer and manufacturer of 24K gold jewelry in China.

Located in Wuhan, Hubei Province, Kingold produces a wide range of 24K gold jewelry and household ornaments and is China's leading manufacturer of 24K gold jewelry sold by weight. In the nine months ending September 30, 2009 Kingold had revenues of US$192,036,951 and net income of US$5,755,918 versus revenue of US$57,184,660 and net income of US$3,825,753 in the same period in 2008. Buying 24K gold jewelry is a preferred method for China's rapidly expanding middle class to store wealth; as such, the market for 24K gold jewelry in China is expanding rapidly.

The transaction was structured as an acquisition of the corporate parent of Wuhan Vogue-Show Jewelry Co., Ltd. (“Vogue Show”), a People's Republic of China (“PRC”) corporation which has entered into a series of captive agreements with Kingold pursuant to which it will receive 95.83% of the profits of Kingold. Known as a variable interest agreement or “VIE”, this is a common structure used to acquire PRC corporations within certain industries designated by the PRC.

Vogue Show, a wholly owned foreign enterprise (“WOFE”), is owned by Dragon Lead Group Limited, a British Virgin Islands corporation. At the closing, Activeworlds acquired 100% of Dragon Lead Group Limited. The Company is now in the process of changing its corporate name to “Kingold Jewelry, Inc”.

Baytree Capital Associates, LLC served as a consultant on both the Kingold acquisition and the private placement.

Activeworlds Corp

Must ReadView All

Courtesy: Mario Crosta

Textiles | On 23rd Oct 2018

'Global textile machinery market may grow at 14% by 2020'

Analysts have predicted that the global textile machinery market may...

Cotton production and exports in West Africa. Courtesy: FAS/USDA

Textiles | On 23rd Oct 2018

Record cotton production to drive West Africa exports

Cotton exports from West Africa for 2018-19 are projected to surpass...

Courtesy: Prudence Earl on Unsplash

Textiles | On 23rd Oct 2018

Sri Lanka's textile exports up 4.7% in Jan-July '18

Sri Lanka’s earnings from textiles and garments exports increased by...

Interviews View All

Mandeep Nagi, Shades of India

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Justin Gutierrez, INDA

Justin Gutierrez

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search