Jewelry retailer Eastern Gold Jade introduced new jade products and expanded its presence in first, second and third tier cities with a combination of company-owned locations and franchises.
These initiatives continued to build the brand as culturally important because of the long association between jade and Chinese civilization. Eastern Gold Jade was formed in 1993 and listed on the Shanghai Stock Exchange in 1997.
Net income dropped 47 percent to $11 million on a 43 percent revenue decline to $405 million, in the first half of 2014. For full year 2013, net income rose 1 percent to $26 million on a 26 percent revenue gain to $964 million.