XINYUAN: Updates on delivery of multi-site projects in 2022

Rhea-AI Summary

Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced the completion and delivery of six projects in six Chinese cities during Q3 2022, totaling 292,000 square meters. Despite a challenging market, the company has secured around $100 million in government stimulus funds to support ongoing construction. Major delivered projects include Huzhou Silk Town and Tianjin Spring Royal Palace, enhancing Xinyuan's commitment to fulfilling its obligations to homeowners. The company remains focused on delivering homes and enhancing customer satisfaction amidst industry difficulties.

Positive

• Completed and delivered six projects in six cities, totaling 292,000 square meters.
• Secured approximately $100 million in government stimulus to support ongoing construction.
• Delivery of key projects demonstrates Xinyuan's commitment to fulfilling obligations to homeowners.

Negative

• None.

BEIJING, Nov. 29, 2022 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), a NYSE-listed real estate developer with operations primarily in China and assets in other countries, today announced that during the third quarter of 2022, Xinyuan Group completed and delivered six projects in six cities in China with a total area of 292,000 square meters, in spite of numerous market-wide difficulties and constraints. 2022 is a challenging year for real estate enterprises. Nevertheless, Xinyuan Group has been actively continuing its constructions and keeping deliveries on track to fulfill its obligations.

Under the support of governments at various levels, Xinyuan has received approvals of approximately $100M stimulus fund by the end of October to facilitate the completion of certain construction projects and is expecting to obtain additional funding support from the government.

For Xinyuan, ensuring the delivery of homes has always been one of the top priorities for the company's operation and management. Coping with changes in the industry, Xinyuan has been overcoming numerous difficulties and is resolved to ensure the delivery of homes and to stabilize the livelihood of homeowners," which in turn propels the company in a positive cycle.

The major projects delivered are located in Tianjin, Zhejiang, Shandong, Henan provinces.

Huzhou Silk Town

On June 30th, 2022, Xinyuan Huzhou Silk Town was delivered. Xinyuan Huzhou Silk Town is a key project in Zhejiang Province, among the first group of "culturally-featured towns" in the country. The silk town has great advantages in industrial development, surrounding infrastructures, and attracting high-income talents.

Dalian Canglong Shoufu

In July, 2022, the first phase of Villa Canglong Shoufu was delivered with 215 units and a total area of 27,056 square meters. This project is close to the Dalian Xinchuang international health technology town which is directly supervised by the Governor of Liaoning Province, and it is the core project of the Medical Life science Corridor of Liaoning Province.

Xinyu Jiayuan Kunshan

As of August this year, a total of 74,457 square meters of Xinyu Jiayuan Kunshan has been delivered. The project is located in Huaqiao International Business City, about 300 meters from Metro Line 11 Zhaofeng Road Station, with a total construction area of 148,000 square meters. The project consists of an 83-meter high-rise building and a 188-meter skyscraper, which is set to become a new landmark of the city.

Tianjin Spring Royal Palace

Following the successful delivery of Xinyu Jiayuan Kunshan, Tianjin Spring Royal Palace was also delivered in magnificent fashion on August 16^th with 372 units and a total of 72,000 square meters. The project is located in Wuqing District of Tianjin, close to Beijing-Tianjin intercity railway and six major expressways. This prime location enables convenient transportation within the urban Beijing-Tianjin-Hebei areas.

West Zhengzhou Xinyuan Fame Homes

After several years of diligent work, West Zhengzhou Xinyuan Fame Homes 46# has been delivered as scheduled. The project includes 738 units, totaling 25,093 square meters. The project is located in the center of Xingyang City, Henan Province. Comprehensive set of amenities fall within 2-kilometers radius of the project.

Lingshan Bay Longxi

Lingshan Bay Longxi was delivered as scheduled on October 1^st. The project is located in Qingdao city, one of the most beautiful seaside towns in China. The project offers high-end living experiences given its unique location surrounded by the coastline. Various amenities are under construction and are expected to be completed soon.

For Xinyuan, delivery of homes represents not only success in terms of construction capability, but also the fulfilled responsibility to its customers. Xinyuan will continue to put the interests of homeowners among its top priorities, fulfill its commitment to quality, adhere to its corporate responsibility and create a positive experiences for every member of Xinyuan.

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer 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 has been active in real estate development in New York over the past few years. 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 did Xinyuan Real Estate announce on November 29, 2022?

Xinyuan announced the completion and delivery of six projects in six Chinese cities during Q3 2022.

How much government funding did Xinyuan receive to support construction?

Xinyuan received approximately $100 million in government stimulus funds by the end of October 2022.

What are some key projects delivered by Xinyuan in 2022?

Key projects include Huzhou Silk Town, Dalian Canglong Shoufu, and Tianjin Spring Royal Palace.

What is the total area of projects completed by Xinyuan in Q3 2022?

The total area of projects completed by Xinyuan in Q3 2022 is 292,000 square meters.

What is Xinyuan's focus in the real estate market amid challenges?

Xinyuan focuses on delivering homes and stabilizing the livelihood of homeowners.