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Xinyuan Real Estate Co., Ltd. (NYSE: XIN) is a prominent real estate developer and property manager based in China, with international operations extending to places like New York, Los Angeles, London, and Malaysia. Established over 20 years ago, Xinyuan has been committed to the principles of 'Quality Real Estate' and 'Technology Real Estate'. The company successfully floated on the New York Stock Exchange in 2007, making it one of the first Chinese real estate enterprises to be listed overseas.
Xinyuan focuses on developing residential projects, which typically consist of multiple residential buildings, multi-layer apartment buildings, and auxiliary services and amenities such as retail outlets, leisure and health facilities, kindergartens, and schools. The company aims to provide comfortable and convenient real estate-related products and services to middle-class consumers.
In recent years, Xinyuan has expanded its footprint, developing over 100 projects across more than 20 cities in China, and delivering quality homes to over 200,000 property owners. The company has consistently ranked among the top 100 real estate enterprises in China for 16 consecutive years.
In the financial year ending December 31, 2023, Xinyuan demonstrated resilience despite a significant decline in sales revenue. The company reported revenues of US$804 million and a net profit attributable to shareholders of US$40.28 million, ending three consecutive years of losses. The gross profit margin increased to 16.5%, up from 7.6% the previous year. This positive outcome was achieved through organizational optimization, stringent control of selling and administrative expenses, and effective debt management measures including restructuring, cost reduction, and deferral.
As of December 31, 2023, Xinyuan's net assets stood at US$107 million, an increase of US$24 million from the previous year, while total assets amounted to US$5.33 billion. The company successfully decreased its total liabilities and interest-bearing liabilities by US$542 million and US$183 million, respectively.
In August 2023, Xinyuan conducted an exchange offer for senior notes, significantly lowering the interest rate and extending the maturity date, thereby alleviating short-term repayment pressure.
Additionally, Xinyuan's property management arm, Xinyuan Property, which possesses a first-class national property management qualification, got listed on the Hong Kong Stock Exchange on October 11, 2019 (stock code: 1895.hk). Xinyuan Property has consistently been recognized among the top 100 property service enterprises in China.
The company's technological ventures, grouped under Xinyuan Technology Group, include prominent subsidiaries like Edian Interconnect, Ai Jieli, Xin Fang Chain, and Giantzhou Cloud, further showcasing its commitment to integrating technology with real estate.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced it will release its unaudited financial results for Q3 2020 on November 27, 2020, before U.S. market openings. A conference call will occur on the same day at 8:00 AM ET, with access via multiple dialing options for U.S., international, China, and Hong Kong listeners. An archived replay will be available until December 4, 2020. Xinyuan specializes in real estate development and management, predominantly in China, along with recent expansions into the U.S. market.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced the full payment of its 8.875% Senior Notes, amounting to US$253.5 million, on November 22, 2020. This payment included both principal and accrued interest, ensuring that the notes ceased to be outstanding after the maturity date. Chairman Yong Zhang emphasized the company's improved cash position and liquidity, reiterating a commitment to optimizing its debt structure and meeting all financial obligations timely and fully.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced the closing of the first tranche of onshore corporate bonds amounting to RMB900 million (approximately US$135.9 million). The bonds feature a coupon rate of 8.35% and have a five-year term. Investors possess the option to sell back the bonds after three years. Issued by Xinyuan (China) Real Estate, Ltd., these bonds are listed on the Shanghai Stock Exchange and were offered outside the U.S. under Regulation S, with registration not applicable in the U.S.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) will hold its 2020 annual general meeting (AGM) on December 18, 2020, at 2:00 p.m. China Standard Time in Beijing. The record date for shareholders is November 20, 2020. The company filed its annual report on Form 20-F for the fiscal year ended December 31, 2019, with the SEC on April 29, 2020. Shareholders can access the AGM notice and proxy statement via the company's investor relations website.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced the completion of two tranches of partial repurchases of its senior notes listed on the Singapore Exchange. From March 3 to September 10, 2020, Xinyuan repurchased a total of $5.5 million from its 14.2% senior notes and $5 million from its 7.75% senior notes. Subsequently, from September 10 to September 24, 2020, the company repurchased $20 million of 8.875% senior notes and $34 million of 7.75% senior notes. The repurchase actions aim to optimize capital structure and enhance shareholder value.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) has completed the offering of $300 million in senior notes due 2023, with a 14.5% interest rate. The notes are listed on the Singapore Exchange and were issued at 100% plus accrued interest. Proceeds will be used for refinancing existing offshore indebtedness and general corporate purposes. The notes are guaranteed by certain subsidiaries and secured by a pledge of their capital stock. The offering occurred outside the U.S. under Regulation S of the Securities Act.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced a cash dividend of US$0.0125 per common share and US$0.025 per American Depositary Share for Q2 2020. This dividend is payable on or before September 28, 2020, to shareholders on record as of September 15, 2020. The company operates primarily in China, developing large-scale real estate projects in over ten cities, including Beijing, Shanghai, and Xi'an. Xinyuan focuses on providing quality real estate services to middle-class consumers, including recent activities in the U.S. market.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) reported significant financial results for Q2 2020. Total revenue rose 126.1% to $284.4 million compared to the previous quarter, although it decreased 53.3% year-over-year. The net loss decreased by 23% to $30.1 million. Diluted net loss per ADS improved 33.3% to $0.49. The company enhanced its marketing and optimistic sales expectations, projecting contract sales between 20 to 22 billion RMB for the year. Total debt reduced to $3 billion, with cash reserves increasing to $999.8 million.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) will present at the LD 500 investor conference on September 3, 2020, from 9:00-9:20 AM EST. CFO Yu (Brian) Chen will address a live virtual audience. The LD 500 event runs from September 1-4, 2020. Xinyuan, primarily active in China, develops high-quality real estate projects across major cities including Beijing and Shanghai. Interested investors can request meetings through LD Micro or by contacting Julia Qian at Julia@blueshirtgroup.com.
Xinyuan Real Estate Co., Ltd. (NYSE: XIN) will release its unaudited financial results for the second quarter of 2020 on September 2, 2020, before U.S. markets open. The earnings conference call is scheduled for the same day at 8:00 am ET. Investors can access the call via multiple international numbers. The call will be available for replay until September 9, 2020, and a live webcast will also be provided. Xinyuan focuses on developing high-quality real estate projects across major Chinese cities and recently expanded into the U.S. market.
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