STRATEGY 企业策略 JNA May/June 2024 | 27 These devices, which function like an ATM, enable customers to conveniently buy and sell gold. The Gold Recycle Smart Terminal, a pioneering solution in the industry, harnesses artificial intelligence technology such as big data and machine learning to automate every step of the gold recycling process. Customers place the jewellery item they intend to recycle in the state-of-the-art machine, which then identifies it and accurately assesses the fineness of the gold and the weight of the metal. After valuation, the machine proceeds to melt the gold for recycling. Payment is deposited immediately in the customers' bank account or transferred to their digital wallets. On the other hand, customers can use the Gold and Jewelry Vending Machine to buy small-gram products like gold bars and gold beans. “Smart recycling offers a standardised process and increased privacy for consumers as well as transparency in testing and pricing,” Wong explained. “The new smart retailing approach enables customers to trade gold in a safer, more transparent and secure manner. This approach resonates particularly well with younger consumers. I believe it will be a significant driver of business growth.” Kinghood has already established smart gold stores in Foshan, Shenzhen, Guangzhou and Meizhou, among other destinations. The Gold Recycle Smart Terminal, meanwhile, has been deployed across 30 cities in China. The company has also collaborated with several banks to deploy the Gold Recycle Smart Terminal in their branches, expanding its availability. Gold recycling Wong pointed out that transaction efficiency was of utmost importance to consumers when it comes to gold recycling. The Gold Recycle Smart Terminal, developed by Shenzhen Shangshan Intelligence Co Ltd under Kinghood, revolutionises the gold recycling experience. It can process various types of gold jewellery weighing 3 grams to 1,000 grams and containing at least 50 per cent gold. 由金雅福旗下深圳上善智能有限公司研发的 “黄金回收智能终端”，带来了革新的黄金回收体验。它可以处理重量在3克至 1,000克之间、黄金含量不低于50%的各类黄金首饰。 Its main features include 其主要特点包括： • Real-time price docking with the Shanghai Gold Exchange, enabling transactions based on up-to-date gold prices with minimal service charge 价格实时对接上海黄 金交易所，交易以实时金价为基础，并收取少量服务费 • An integrated camera to record the gold recycling process, which customers can also watch 设备内置摄像头，记录黄金检测过程，客户也可观看整个机器操作流程 • Efficient transaction as the entire gold recycling process only takes about 15 to 20 minutes 高效率交易，整个黄金回收过程，仅需约15至20分钟 • API, which enables customisation for integration with business partners’ existing platforms upon request 使用API接口，可根据要求开发和定制，以便与合作伙伴的现 有业务平台进行对接 "They want to immediately cash in on their gold jewellery, whether for consumption or other purposes. Therefore, there is consistent demand for physical gold recycling among consumers," he shared. Conservative estimates indicate a gold stockpile of approximately 17,000 tonnes in China, added Wong. However, these often consist of outdated styles that consumers may wish to resell or recycle. Moreover, there is substantial potential in the gold recycling market, owing to tighter environmental regulations and global trade restrictions that often lead to a decline in mined and imported gold. Providing consumers with a convenient and standardised gold recycling channel can revitalise existing gold inventories and fuel gold “re-consumption,” noted Wong. O2O retail strategy Kinghood has also built distinct brands — Jin Ya Fu, KINGHOOD and Jewelry Yayu — to cater to different consumer segments, as part of its new retail strategy. In line with the introduction of the smart gold store, Jin Ya Fu targets the mass market, providing 24-hour gold retailing and recycling services while KINGHOOD aims to attract younger consumers with trendy gold jewellery to meet their desire for self-expression. Jewelry Yayu, meanwhile, caters to the company's exclusive clients. Kinghood is likewise leveraging its WeChat super mini-programme and other e-commerce channels to offer a seamless online and offline consumer experience. This new retail strategy is an important leap for Kinghood as it continues to expand its business from B2B to B2C. In 2023, Kinghood opened branded stores in landmark shopping malls across Tier 1 and Tier 2 cities. The group witnessed a 13.65 per cent increase in consolidated revenue and a 73.7 per cent growth in the gold jewellery segment.
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