Xinyuan Announces Strategic Cooperation with Wanda Group

Rhea-AI Summary

Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced a strategic cooperation with Wanda Group during a conference in Beijing on March 28, 2022. The agreement focuses on extensive collaboration in asset management and industrial real estate. Xinyuan's Chairman, Yong Zhang, expressed optimism about leveraging both companies' strengths to enhance their business. Xinyuan, a key player in the Chinese real estate sector, has been active internationally, including in the U.S. market, aiming to provide quality real estate for middle-class consumers.

Positive

• Strategic cooperation with Wanda Group to enhance business opportunities.
• Collaboration focuses on business and asset management, potentially increasing revenue streams.

Negative

• None.

BEIJING, March 30, 2022 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer operating primarily in China with assets in other countries, today announced that the Company and Wanda Group held a strategic cooperation conference in Beijing on March 28, 2022. Mr. Jianlin Wang, Chairman of Wanda Group, and Mr. Yong Zhang, Chairman of Xinyuan Real Estate, were in attendance. During the conference, Xinyuan and Wanda Group signed a strategic cooperation agreement (the "Agreement"). Pursuant to the Agreement, the parties will establish comprehensive and in-depth business cooperation in business and asset management, industrial real estate, and research and development.

Mr. Yong Zhang, Chairman of Xinyuan Group, said: "We are excited to cooperate with Wanda Group to explore new opportunities in the real estate and business and asset management verticals. Wanda Commercial Properties is the world's largest commercial real estate company. We are confident that this partnership will enable us to leverage our respective strengths and benefit the business of both sides and facilitate our future growth."

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China with assets in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Tianjin, Zhengzhou, Jinan, Qingdao, Chengdu, Xi'an, Suzhou, Dalian, Zhuhai and Foshan. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.

Forward Looking Statements

Certain statements in this press release constitute "forward-looking statements". These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements includes statements about future debt and financial position , among others, and can generally be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Statements that are not historical statements are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter successfully into new geographic markets and new business lines and expand our operations; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws, regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; the impact of pandemics, such as Covid-19, on the real estate market and the economies in our markets； fluctuations in general economic and business conditions in the markets in which we operate; and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2019. Except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statement is made.

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SOURCE Xinyuan Real Estate Co., Ltd.

FAQ

What is Xinyuan Real Estate's recent strategic move?

Xinyuan Real Estate announced a strategic cooperation with Wanda Group on March 28, 2022.

How will the partnership with Wanda Group benefit Xinyuan (XIN)?

The partnership aims to leverage strengths in asset management and industrial real estate, potentially boosting business growth.

What are the main focuses of Xinyuan's agreement with Wanda Group?

The agreement focuses on comprehensive cooperation in business and asset management, and industrial real estate.

When was the cooperation agreement between Xinyuan and Wanda Group signed?

The cooperation agreement was signed during a conference on March 28, 2022.

What markets does Xinyuan Real Estate operate in?

Xinyuan primarily operates in China and has assets in other countries, including the U.S.