Hong Kong authorities have made the city's largest ever gold smuggling bust, seizing 146kg of the metal disguised as machine parts.
The haul was intercepted last month en route to Japan and was believed to be worth more than NZ$16 million, according to the BBC.
A man, 31, was arrested and has since been released on bail pending further investigation.
Customs officials made the discovery while examining two air compressors which were meant to depart in a cargo shipment to Japan late March. The compressors drew suspicion due to their "unusual" texture and weight, the BBC said.
The search found both compressors were filled with gold that had been "moulded and camouflaged" into parts such as screws, gears and motor cores, according to a government statement.
Authorities have suggested a crime syndicate trying to evade taxes in Japan may be responsible for the attempted smuggle.
Hong Kong is one of the world's largest gold trading hubs.
Under Hong Kong law, smuggling is classed as a serious offence and could result in a prison sentence of up to seven years.
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