Fuqi International Inc. (FUQI): Shiny Profits from China?
Fuqi International (FUQI) is a designer and maker of precious metal jewelry in China. The company produces and sells rings, bracelets, necklaces, earrings, and pendants made from precious metals such as platinum, gold, palladium, and karat gold. Fuqi International also features products with diamonds and other precious stones. Last week, the company announced that it opened its first stores in China's capital of Beijing and another store in Shanghai, a major population center and tourist destination in China. The company now has a total of 60 stores in its home country of China. For the third quarter, Fuqi International anticipates…