Xinyuan Real Estate Co Ltd (NYSE:XIN)

BEIJING, May 4, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today confirmed that it is continuing its previously announced common share/ADS repurchase program.

The previously announced 2019 Share Repurchase Program was approved on May 20, 2019, for an aggregate purchase amount of shares up to US$50 million through the end of 2021. Over the course of 2019, the Company purchased approximately 5.9 million ADS.

Mr. Yong Zhang, Xinyuan's Chairman, stated: "We have built a very strong business over the years, as demonstrated by our growth, profitability and cash flow. We have met all debt obligations, and our long history of paying dividends since 2011, combined with our active ADS repurchase program, demonstrates our commitment to returning value to our shareholders."

Details about the ADS repurchase programs can be found in the Company's most recent annual report on Form 20-F on file with the U.S. Securities and Exchange Commission.

BEIJING, Apri 15, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today confirmed its intent to maintain its full holding of 300 million shares in its publicly-traded subsidiary, Xinyuan Property Management Service (Cayman) Ltd. ("Xinyuan Property Management")(1895.HK), after the lock-up period ends on April 11, 2020. The Company owns 60% of Xinyuan Property Management and has no plan to reduce its stake.

Xinyuan Property Management was founded in 1998 and has been consistently ranked among the top property service companies in China. Xinyuan Property Management has been variously recognized as: a "Top 100" property management firm; a property services excellent brand; a property management brand influencer; and a property management outstanding enterprise. Over the past 20 years, Xinyuan Property Management has established up to 38 branches in China and is a pillar in parent Xinyuan Real Estate's "pan-property industry ecosystem".

Xinyuan Property Management provides property management services in the People's Republic of China. The company offers property management services, including cleaning and sanitation, safety and security, gardening, parking space management, and facilities maintenance services for complexes, residential properties, and office buildings. It also provides a range of value-added services, such as utility fee payment, common area resources management, home living, and property cleaning and delivery services. In addition, it offers pre-delivery services comprising sales assistance, property sales venue management, and property sales venue warm-up services; consulting services, such as advisory, and referral and management services; and property decoration, real estate marketing, event planning and execution, and engineering services. It serves property developers, owners, and occupants. The company is headquartered in Zhengzhou, the People's Republic of China.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We intend to preserve our full stake in Xinyuan Property Management for the long-term as we anticipate continued robust growth. As the controlling shareholder, we firmly believe in the long-term value of Xinyuan Property Management, and thus have no plans to reduce our holding at the moment."

BEIJING, March 19, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today announced that it has redeemed its issued and outstanding 9.875% Senior Notes ("the Notes") in full on March 19, 2020 (the Redemption Date). The Notes have an aggregate principal amount of US$200 million.

The Notes has been redeemed for the principal amount plus accrued and unpaid interest. From and after the Redemption Date, all interest will cease to accrue on the Notes and the Notes will cease to be outstanding.

A notice regarding the redemption in full of the Notes on March 19, 2020 has been given to holders of the Notes and filed with the Singapore Exchange. Holders of the Notes should contact the bank or broker through which they hold a beneficial interest in the Notes for information about obtaining their Redemption Payment.

Mr. Yong Zhang, Chairman of Xinyuan, stated, "We currently have ample liquidity to fund the redemption of the Notes. The redemption process went smoothly due to well-functioning domestic and overseas funding channels. Xinyuan has always been highly focused on the security of the Company's cash flow. We want to reassure bondholders and investors that Xinyuan operates conservatively so that all financial obligations will be met on time and in full."

BEIJING, March 9, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd (the "Company "or "Xinyuan"), a New York Stock Exchange-listed global real estate developer and property manager (NYSE: XIN), announced today that it has retained the Blueshirt Group to lead its investor relations and financial communication programs.

Xinyuan is ranked among the top 100 real estate businesses in China. With properties and operations in China, the U.S. and the U.K., Xinyuan is expanding its business to a variety of attractive regions. The Company is developing a number of landmark projects across New York, London, and Malaysia. Xinyuan is also developing several technology-enabled services related to its core real estate business.

Brian Chen, Chief Financial Officer of Xinyuan, commented, "We believe that The Blueshirt Group is an ideal partner to help us raise our visibility with investors, analysts and the financial media.  Since listing on the NYSE in 2007, we weathered the global financial crisis and emerged as a market pioneer with a robust core real estate business and an array of value-added ancillary businesses. Our efforts in utilizing new technologies and enabling smart city development offer significant growth potential. We look forward to leveraging The Blueshirt Group's extensive experience in working with growth companies as we enter the next stage of our company's development."

BEIJING, Feb. 21, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today announced that the Fitch Rating re-classified Xinyuan as the low refinancing risks corporate on February 19th.

On February 17th, Fitch Ratings released a report and publicly rated Chinese corporate issuers facing a significant amount of capital market refinancing risks. We immediately noticed a factual mistake that a 1.13b CNY on shore bond redemption in 2019 has been neglected, and it's still counted as due in 1H 2020 in the report. This has inflated the Company's near-term bond by over 100%. As a result, Xinyuan was listed as one of the high refinancing risks companies with six other small-to medium real estate developers.

Xinyuan immediately reflected with Fitch Ratings regarding the mistaken number used in the report. On February 19th, Fitch Ratings published an amended report where Xinyuan's refinancing risk has been adjusted from "high" to "low". On February 21st, Fitch Ratings also sent out a press release reiterating Xinyuan's low refinancing risks. 

Xinyuan adheres to the strategy of stable operations, which we have always been highly focused on the security of the Company's cash flow. Company also has a series of high-quality project in reserves. The Novel Coronavirus's impact is limited and within the capability of Xinyuan's cashflow management throughout the year.

BEIJING, Feb. 6, 2020 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager, today confirmed that it will pay the principal and interest on its US$200 million US Dollar Bond ("the Bond") when it matures on March 19, 2020.

Mr. Yong Zhang, Chairman of Xinyuan, stated: "We currently have ample liquidity and unimpeded cross-border funding channels." Mr. Zhang continued, "We understand there is some concern about the slowdown in business activity in China due to the health situation. We want to assure bondholders and investors that Xinyuan is operating in a fine condition and all financial obligations will be met on time and in full."

Xinyuan originally issued the Bond on March 19, 2018, which was listed on the Singapore Exchange and denoted as "XIN 9.875% 19Mar2020 Corp (ISIN: XS1789514756)". 

BEIJING, Nov. 15, 2019 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and in other countries, has become one of the first blockchain technology service providers in China. The Company is accelerating its innovation to enable the real estate industry and to win market recognition with the X-Bolts blockchain underlying technology platform and key products such as Golden Bricks and Conbow.

Laying out the underlying technology of blockchain

After experiencing bubbles and troughs over the past two years, the blockchain industry has begun a new round of fast growth. If capital was the key driver for the development of the blockchain in the initial stage, then technical capability has become the core competitiveness of the blockchain in its next stage.

As one of the first real estate companies to invest in blockchain, Xinyuan's technology business is one of the earliest developers in the underlying technology of the blockchain in China. As early as 2015, Xinyuan invested in Beijing Rchain to study the underlying technology of the blockchain, focusing on the BAAS (Blockchain As A Service) platform based on the blockchain technology, which is highly expandable, simple in process and self-controllable.

Rchain is one of the first five enterprises in China to pass the blockchain standard test by the Ministry of Industry and Information Technology. The company participated in the preparation of the blockchain standard organized by the Ministry of Industry and Information Technology in 2016, and led the preparation of the Legal Policy Research Report on the Application of Blockchain in the Financial Field, filling in the gap of legal policy support for blockchain application in the financial field.

For Rchain, R&D capability and innovative application are the foundation that drive its growth. Its R&D team led the development of the X-bolt (Blockchain Operation Ledger Technology) Blockchain Bottom Closed Source Technology Platform. The technology was built with the technical support of IBM (China) Research Institute over three years.

As an underlying platform based on blockchain technology, all its underlying modules support pluggable customization, providing a variety of flexible access and deployment methods to meet the rapid access of blockchain systems under various scenarios.

The competition of technology is to some extent the competition of patents. Tencent's newly released 2019 Tencent Blockchain White Paper showed that Internet companies, financial giants and start-ups are all fiercely competing in the patent field to protect their research results, improve their market competitiveness and enhance their brand reputation and credibility.

Patents are Rchain's strength. In 2017, the number of blockchain patents held by Rchain ranked fifth in the world, and third in China. In 2018, it successfully entered the Top 20 list of Hurun blockchain enterprises and won the "Star of Blockchain" award by People.com.

Rchain has disclosed 57 patents related to blockchain as of October 31, 2019, and has 83 patent applications in the same period.

Technology R&D and product innovation need high-end talent. In 2016, Xinyuan and Tsinghua PBC School of Finance (PBCSF) jointly established Xinyuan Real Estate Finance Science and Technology Research Center, whose main research areas include hot issues such as blockchain, big data, artificial intelligence and technology and finance. The center is committed to analyzing and mining the operation mechanism behind policies and data through objective and rigorous research, and at the same time cultivating management and professional talents in the field of financial science and technology to promote the development and innovation of financial technology.

Accelerating innovation to empower the real estate industry

After a period of dormancy, the application of blockchain technology in industrial fields is gradually maturing, including within the real estate industry.

The market prospects in the field of real estate intelligence and technology are huge. On the one hand, China has RMB300-400 trillion in housing stock assets that will need technology to aid revitalization in the future. On the other hand, technology can provide smart solutions for families, communities and even cities.

Some innovative enterprises have taken advantage of smart situations to explore new service scenarios, from residents to communities, from hardware to humanities, and to explore how to use science and technology to meet residents' daily life, social, medical, educational, shopping and other needs more intimately and efficiently.

Among the real estate innovators, Xinyuan, a NYSE-listed company established in 1997, has been at the forefront. As the founder of Xinyuan Group and one of the earliest entrepreneurs in China's real estate industry, Xinyuan Chairman Zhang Yong has repeatedly stated that science and technology will change the profit model of the real estate industry and enable the real estate industry to transform and upgrade, and that the industrial Internet will redefine the living space for residents.

As the executor and pioneer of "science and technology + real estate" model, Xinyuan is taking the underlying technology of blockchain as the core, combining it with the characteristics of the market and industry, to develop applications suitable for real estate, including Golden Bricks and Conbow, two industrial applications based on blockchain technology.

For example, the traditional real estate sales process is lengthy, with many subjects, high cost and slow speed. Golden Bricks uses blockchain technology to solve this pain point, which not only reduces the selling cost of real estate enterprises and improves the sales speed, but also provides one-stop all-round service for buyers and improves customer satisfaction.

Taking property services as another example, traditional community property services have the characteristics of higher cost, narrow service scope, single source of income, etc.

To address these issues, Xinyuan has invested in Conbow to build an intelligent community operation platform with blockchain and the Internet of Things technology. This technology product can not only improve the living quality of owners and upgrade the quality of property services, but also reduce the cost of property management and increase the income of property service enterprises.

In the future, the integrated application of blockchain technology will play an increasingly important role in industrial transformation. Creating social values and enabling the real economy are the general trends of the blockchain industry. Golden Bricks, Conbow and other applications that help lower costs and improve service efficiency will have massive potentials in the market.

The favorable macro environment also provides opportunities for the application of blockchain. Ren Zeping, Chief Economist & Director at Evergrande Think Tank, released the "Ren Zeping Blockchain Research Report" on October 26, predicting that the blockchain will develop faster and become more standardized in 3-5 years. According to the report, over 95% of blockchain related startups worldwide are currently in the seed round, angel round and round A, and only 3% in round B and beyond, which shows that the industry is still in the early stage. The report predicts that in the next 3-5 years, the application of the blockchain will focus on the financial industry and gradually spread to other real industries.

On October 28, Li Wei, Director of the Science and Technology Department of the People's Bank of China, said at the first Bund Financial Summit that the blockchain, as an important emerging technology, has great potential in promoting the innovation and development of the digital economy and needs in-depth study.

For Xinyuan, the "X" in its "X-Bolt" technology represents "the future". Sticking to its mission, Xinyuan will serve the real economy more efficiently with more cutting-edge technologies, more valuable applications.

The "tomorrow" of blockchain is not to be underestimated.

BEIJING, Oct. 11, 2019 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and in other countries, today announced the listing of its property management service entity, Xinyuan Property Management Service (Cayman) Ltd. ("Xinyuan Service"), on the Hong Kong Stock Exchange (HKEX).

Launched in 1998, as the end of March 31, 2019, Xinyuan Service has a total of 30.01 millon square meters of contracts signed across the country, including Zhengzhou, Jinan, Qingdao, Beijing, Shanghai, Tianjin, Kunshan, Suzhou, Guangzhou, Foshan, Zhuhai, Xi'an, Chengdu, Changsha, Dalian, Hefei, Sanya, Taicang, Xuzhou, Yancheng, Xinxiang, Jiaozuo, Rongyang, Gongyi, Sanmenxia, Hebi, Puyang, Shangqiu, Luohe, Xinyang, Zhumadian, Pingdingshan, Nanyang, Xinzheng, Zhoukou and Xuchang. Among the contracts signed, a total of 15.80 million square meters in 28 cities are currently under management. Xinyuan Service will trade on the HKEX under code '01895' beginning October 11, 2019, with 25% of the outstanding shares issued to new investors. The initial public offering price for each share was HK$2.08, resulting in a market valuation of HK$1.04 billion. After the listing, Xinyuan Real Estate will remain the largest shareholder with 60% of total shares held. Xinyuan Service will be consolidated on Xinyuan Real Estate's balance sheet when reporting future financial results.

Mr. Yong Zhang, Xinyuan's Chairman and CEO, stated, "The listing of Xinyuan Service on the HKEX, a leading international capital markets exchange, is a significant milestone and marks a new chapter of growth for the company. Our decision to list Xinyuan Service as a separate entity on the HKEX is an extension of the strategic realignment of our business, which we anticipate will contribute to strengthen our core real estate development capability. We believe this decision will bring meaningful benefits to our businesses, our customers, and our shareholders."

Second Quarter 2019 Financial Results

• In the second quarter of 2019, the Company's total revenue increased 71.3% to US$609.4 million from US$355.8 million in the second quarter of 2018 and increased 30.0% from US$468.9 million in the first quarter of 2019.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.19 compared to diluted net loss of US$0.10 per ADS in the second quarter of 2018 and diluted net earnings of US$0.33 per ADS in the first quarter of 2019.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "In the first half of 2019, Xinyuan maintained stable growth and commenced pre-sales of three new projects in China. The total value of contracts signed in the first half was RMB7,323.2 million, representing a 12.0% increase compared to RMB6,537.4 million in the first half of 2018. Thanks to the outstanding sales performance, the company has achieved top- and bottom-line growth despite downward pressure on sales across the industry. In the first half of 2019, total revenue increased 103.5% year over year. Moreover, we were able to reduce SG&A expenses as a percentage of total revenue to 11.0% in the first half from 16.4% in the first half of 2018. As a result, gross profit increased by 96.0% year over year, and net income was US$38.0 million compared to a net loss of US$22.0 million in the first half of 2018. Furthermore, our overseas projects continued to proceed as planned, and presales of our Manhattan project are expected to launch at the end of the fourth quarter of 2019.

"At the same time, we are seeing a lasting impact from changes in the macro-economic environment and stringent government restriction policies on the Chinese housing market. However, we believe that our strategic focus on high quality tier-one and tier-two city projects as well as our strong execution capabilities enable us to further solidify our leading market position and deliver sustainable long-term growth. We remain committed to controlling our financial leverage and maximizing Xinyuan's financial health. We are also pleased to offer another quarterly dividend payment to our shareholders," concluded Mr. Zhang.

Business Outlook

For the full year of 2019, the Company expects an increase in contract sales of about 10% and an increase in consolidated net income of 15% to 20% over 2018.

BEIJING, June 17, 2019 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer operating primarily in Chinaand in other countries, today announced that the Board of Directors has appointed Mr. Yu "Brian" Chen as the Company's new Chief Financial Officer, effective immediately. The Company's interim CFO, Mr. Xuefeng Li, will continue in his role as general manager of the financial management department of the Company.

Mr. Chen joined Xinyuan in February 2019 as an Assistant President and the General Manager of the Company's Capital Markets department. Before joining Xinyuan, Mr. Chen held senior management positions in various publicly listed companies including Pacific Securities, RioCan REIT, Husky Injection Molding Systems, MDS, and ZTE. He has close to two decades of experience in accounting, financial management, business turnarounds, and capital market operations. Mr. Chen received his Bachelor of Economics from Peking University in 1998 and his MBA from the Schulich School of Business at York University in 2004. He also obtained CPA designations from Canada in 2007 and the U.S. in 2010.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "Brian has made significant contributions to Xinyuan during his short time here. We believe that his broad experience serving in publicly listed companies and his expertise of the capital markets makes him a valuable addition to the leadership team. We look forward to working with him as we continue to execute on our strategies and drive our growth."

"On behalf of the Company, I would like to thank Mr. Xuefeng Li for his contributions to Xinyuan over the last year.  Xuefeng will continue in his role as general manager of the financial management department of the Company.  We look forward to his ongoing contributions in this important role," Mr. Zhang concluded.

BEIJING, April 29, 2019 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (XIN), an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced the completion of its offering of US$300 million in aggregate principal amount of 14.2% senior notes due 2021 (the "Notes").

Of the aggregate principal amount of US$300 million, US$200 million was issued on April 15, 2019, and US$100 million was offered and priced on April 24, 2019 at the issue price of 103.932% plus accrue interest, representing an offer yield of 12.3%, and was consolidated and formed a single series with the US$200 million issued on April 15.

The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries. Xinyuan intends to use the proceeds from the Notes offering to refinance certain offshore existing indebtedness and for general corporate purposes.

The Notes were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been registered under the Securities Act and may not be offered or sold in the United Statesabsent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes in the U.S. or any other jurisdiction.

Repurchase of August 2019 Notes

On April 3, 2019, the Company made an offer to purchase for cash of our 8.125% senior notes due 2019 (ISIN:XS1431796215) (the "Offer to Purchase"). The Offer to Purchase was completed on April 15, 2019. The August 2019 Notes repurchased pursuant to the Offer to Purchase have been cancelled. After the completion of the Offer to Purchase, US$156,611,000 in aggregate principal amount of the August 2019 Notes remains outstanding subject to the terms of the indenture governing the August 2019 Notes.

Repurchase of 2020 Notes

Up to April 15, 2019, the Company made repurchases of its 9.875% Senior Notes in an aggregate principal amount of US$200,000,000 due 2020 (ISIN:XS1789514756) (the "2020 Notes") through a privately negotiated transaction. The total principal amount of the 2020 Notes repurchased was US$75,700,000, representing approximately 37.85% of the original issue size of the 2020 Notes. On April 15, 2019, cancellation of the repurchased 2020 Notes was completed by the Company. The initial outstanding amount of the 2020 Notes before the repurchase was US$199,800,000. After cancellation of the above repurchased 2020 Notes, the principal amount of 2020 Notes that will remain outstanding will be US$124,100,000.

• Total revenue increased 49.1% to US$1,081.8 million from US$725.7 million in the fourth quarter of 2017 and increased 81.7% from US$595.5 million in the third quarter of 2018.

• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$1.15 compared to US$0.50 in the fourth quarter of 2017 and US$0.31 in the third quarter of 2018.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "We are pleased that Xinyuan has maintained strong growth despite the downward pressure on sales across the industry. The total amount of contracts signed in 2018 was US$3,223.6 million, representing 42.4% growth compared to US$2,263.0 million achieved in 2017. Correspondingly, our full year total revenue increased by double digits. Due to the successful selection and execution of our projects, gross profit margin for the year reached 27.5%, resulting in bottom line growth of more than 30%, well above our forecast of 15-20%. Our contract sales in 2018 decreased year over year, mainly because we only included contracts qualified for revenue recognition. As those excluded contracts meet the revenue recognition requirement, our contract sales will recover in the coming quarters."

"During the fourth quarter, we commenced pre-sales on ten new projects in China that reflected our strategy in tier-two cities, which made significant contributions to our total GFA sales and total contract sales," continued Mr. Zhang, "We also invested in our future growth by expanding our land bank with the acquisitions of Huzhou Silk Town and Xingyang Splendid New Project. Our under planning stage projects in China, U.S, and Malaysia continued to proceed as planned, and our UK project made further progress in both construction and sales."

"The macro economic environment and government restriction policies still pose certain challenges for our industry. However, Xinyuan's operating strategy and strong execution capabilities are the foundations of our steady growth. We will remain focused on selecting quality tier-one and tier-two city projects and will supplement our core business with value-added services in a strategic way to solidify our leading market position. We maintain our commitment to controlling our financial leverage and maximizing Xinyuan's financial health. We are optimistic in the outlook for our industry and long-term growth. We are also pleased to offer another quarterly dividend payment to our shareholders," concluded Mr. Zhang.

Business Outlook

For 2019, the Company expects an increase in total contract sales of approximately 10% and an increase in consolidated net income of 15%-20% over 2018.

BEIJING, Feb. 15, 2019 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (XIN), an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced that its Board of Directors has declared a cash dividend for the fourth quarter of 2018 of US$0.05 per common share, or US$0.10 per American Depositary Share ("ADS"), which will be payable before March 12, 2019 to shareholders of record as of February 26, 2019.

Third Quarter 2018 Financial Results

• Total revenue increased 23.4% to US$595.5 million from US$482.4 million in the third quarter of 2017 and increased 67.4% from US$355.8 million in the second quarter of 2018.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.31 compared to diluted net earnings per ADS of US$0.22 in the third quarter of 2017 and net loss per ADS of US$0.10 in the second quarter of 2018.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "Contract sales during the third quarter of 2018 once again experienced downward pressure because of a slowing economy and continued tight regulations on China's property market. However, we were able to offset these market uncertainties due to our strategically located projects in tier-two cities and our strong operational execution, resulting in a 67.4% increase in our top line from the prior quarter and a 23.4% increase from the prior year period. This translated into bottom-line growth of 44.8% year-over-year."

Mr. Zhang added, "In the third quarter of 2018, we commenced pre-sales of four projects, mainly in tier-two cities where housing demand continues to be strong, including Changsha Furong Thriving Family, Chengdu Xinyuan City I, Kunshan Xinyu Jiayuan, and Xingyang Splendid IV. We were also able to expand our land bank with the strategic acquisition of Dalian International Health Technology Town. This acquisition helps unlock our growth potential in Northeastern area of China. With an enlarged land bank, and an expanded global footprint, we are well positioned for long-term growth.

"We remain optimistic about our revenue growth and contract sales for the fourth quarter and we remain focused on our strategic priorities of rolling out projects in tier-one and tier-two cities. Our effective execution will help strengthen our ability to meet our goals for the fourth quarter. We're also pleased to announce another quarterly dividend payment to shareholders," concluded Mr. Zhang.

Business Outlook

The 2018 business outlook reflects the modified retrospective adoption of ASC 606 and may not be comparable to prior year periods.

For the fourth quarter of 2018, the Company expects contract sales to be approximately US$1,158.0 million.

For 2018, the Company expects an increase in contract sales of about 10% and an increase in consolidated net income of 15% to 20% over 2017.

This guidance excludes any potential foreign currency translation impact.

BEIJING, Aug. 16, 2018 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that it has planned to repurchase an aggregate principal amount of US$50,000,000 of its outstanding senior notes.

This plan is consistent with Xinyuan's funding strategy and ongoing efforts to enhance the efficiency of its capital structure. In connection with Xinyuan's long-term deleveraging plan, the Company will repurchase notes in the following series: (i) 8.125% senior notes due 2019 issued on August 30, 2016; (ii) 7.75% senior notes due 2021 issued on February 28, 2017; (iii) 8.875% senior notes due 2020  issued on November 22, 2017 with additional offering on December 1, 2017; and (iv) 9.875% senior notes due 2020 issued on March 19, 2018. Notes will be selected for repurchase based on price, timing and other considerations the Company may determine from time to time.

Based on factors including but not limited to economic value, capital costs, debt portfolio, and overall market conditions, Xinyuan will continue to consider opportunities for additional bond repurchases.

There can be no assurance that the repurchases will be completed in full, if at all or the prices at which the securities of any series of Notes.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Second Quarter 2018 Financial Results

• In the second quarter of 2018, the Company's total revenue decreased 26.1% to US$360.6 million from US$488.2 million in the second quarter of 2017 and increased 107.1% from US$174.1 million in the first quarter of 2018.
• Diluted net loss per American Depositary Share ("ADS") attributable to shareholders were US$0.11 compared to diluted net earnings per ADS of US$0.14 in the second quarter of 2017 and net loss per ADS of US$0.16 in the first quarter of 2018.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "During the second quarter of 2018, our contract sales experienced downward pressure because of tightened regulations on China's property market. Also, our revenue recognition was delayed due to ASC606 adoption. Despite these factors, we managed to double our revenue and grow our contract sales by two-thirds since the first quarter of 2018."

Mr. Zhang continued, "In the second quarter of 2018, we continued to progress as planned with our domestic pre-sales and overseas projects. We commenced pre-sales of three projects, Zhengzhou International New City III D, Zhengzhou International New City III B, and Zhengzhou Hangmei International Wisdom City I. We were also able to expand our land bank with the strategic acquisition of 6 pieces of land: Zhengzhou International New City, Zhengzhou Hangmei International Wisdom City, Wuhan New Project, Jinan Zhangqiu Project, Suzhou New Project, and Qingdao West Coast Project. With an enlarged land bank, and an expanded global footprint, we are well positioned for long-term growth.

"Despite persistent regulatory headwinds, we remain optimistic about the financial outlook for the rest of the year. We are also proud of our ability to deliver sustainable value to shareholders via a consistent quarterly dividend payout." concluded Mr. Zhang.

Business Outlook

The 2018 business outlook reflects the modified retrospective adoption of ASC 606 and may not be comparable to prior year periods.

For the third quarter of 2018, the Company expects contract sales to be approximately US$540 million.

For 2018, the Company expects an increase in contract sales of about 10% and an increase in consolidated net income of 15% to 20% over 2017.

BEIJING, June 29, 2018 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and also in other countries, today announced that Ms. Helen Zhang has resigned from her role as the Company's Chief Financial Officer, effective June 29, 2018.

Mr. Xuefeng Li, currently general manager of the financial management department of the Company, has been appointed as interim CFO.

Mr. Li joined Xinyuan in February 2017 as the general manager of the Company's financial management department. Before joining Xinyuan, Mr. Li worked for China Wanda Group and held senior management positions in its various subsidiaries including Wanda Hotels, Wanda Commercial Real Estate, Wanda Kids Entertainment, Wanda E-Commerce and Wanda Culture Group. Mr. Li has 16 years of experience in accounting, financial management, and capital operations. He graduated from Dongbei University of Finance and Economics in 2002 with a bachelor's degree in taxation and a master's degree in accounting. In 2004, he obtained the Chinese Certified Public Accountant designation.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "Since Mr. Xuefeng Li joined Xinyuan a year and a half ago, he has become familiar with and mastered the business and processes of Xinyuan. Mr. Li has extensive experience in financial management and capital operations. We believe he is well positioned to move into the interim CFO role immediately. We look forward to his contributions as we continue to scale our operations in China and overseas."

"On behalf of the Company, I would like to thank Ms. Helen Zhang for her financial leadership and her contributions to Xinyuan's business development over the years.  We wish her all the best in her future endeavors," Mr. Zhang concluded.

First Quarter 2018 Financial Results

• Contract sales in China totaled US$375.5 million in the first quarter compared to US$240.8 million in the first quarter of 2017 and US$817.1 million in the fourth quarter of 2017.
• Diluted net loss was US$0.16 per ADS in the first quarter of 2018 compared to diluted net earnings of US$0.11 per ADS in the first quarter of 2017 and diluted net earnings of US$0.50 per ADS in the fourth quarter of 2017.                                                        

Mr. Yong Zhang, Xinyuan's Chairman, stated: "Despite the fact that the overall domestic real estate market is affected by the continuous government restrictions on purchases and prices, our contract sales in the first quarter of 2018 have increased 25% from the first quarter of last year.

"This quarter's financial report reflects the normal seasonal adjustment of the real estate industry and the impact of the new changes in accounting standards.

In early 2018, Xinyuan adopted a strategy to become an international technology-driven property ecosystem, under which Xinyuan will place emphasis not only on the development of its traditional real estate business, but also on its five sub-businesses: industrial real estate; commercial property management; traditional property management; property construction management, and real estate technology. This combination of Xinyuan's core real estate business with its five sub-businesses will form an ecosystem that functions as an integrated whole.

With the upgrade of our strategy, we expect the Group's sales and net profits will grow better than last year, and we maintain a stable dividend policy this quarter. The management is optimistic about the financial outlook for the entire year of 2018, and will further enhance operational efficiency, optimize the capital structure, and build a first-class global real estate development operations and asset management group."

Business Outlook

The 2018 business outlook reflects the modified retrospective adoption of ASC 606 and may not be comparable to prior year periods.

For the second quarter of 2018, the Company expects contract sales to be approximately US$530 million.

For 2018, the Company expects an increase in contract sales of about 10% and an increase in consolidated net income of 15% to 20% over 2017.

BEIJING, March 26, 2018 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (XIN), a NYSE-listed real estate developer and property management company operating primarily in China and also in other countries, today announced that its 100% owned subsidiary Xinyuan (China) Real Estate Ltd has signed a cross-industry strategic cooperation agreement with Shenzhen Tencent Computer Systems Company Limited ("Tencent Computer"), a 100% owned subsidiary of the Hong Kong-listed Tencent Holdings Limited ("Tencent Holdings"), a leading provider of internet value-added services in China.

Drawing on Tencent Computer's resources and Xinyuan's industry expertise, this cooperation aims to energize the traditional real estate sector. The pilot program of this strategic partnership will be a Smart Cloud Sales Platform supported by Big Data.

Xinyuan has been making efforts to promote the upgrade of the real estate industry by the use of science and technology. Mr. Yong Zhang, Chairman of Xinyuan, stated, "This strategic cooperation with Tencent Computer is another example of Xinyuan's commitment to leveraging advanced technologies for value-added applications in the real estate sector, adding to existing smart communities, blockchain, and the development of technology towns."

Mr. Steven Chang, Corporate Vice President of Tencent, praised Xinyuan's industry influence, and said both sides look forward to the next step in their cooperation. Tencent will leverage its advantages in multiple product lines, and its strong data technology, to facilitate the development of Xinyuan's business, both online and offline, Mr.Chang said. "The real world is now completely integrated with the digital world. Enterprise integration can improve operational efficiency, reduce costs, and gain more real and effective user data and feedback," stated Mr. Chang.

BEIJING, March 19, 2018 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and in other countries, today announced the closing of its offering of US$200 million in aggregate principal amount of 9.875% senior notes due 2020 (the "Notes"). The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries.

The Notes were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes in the U.S. or any other jurisdiction.

BEIJING, Feb. 9, 2018 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (XIN), an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced an update on its technology initiative with blockchain platform developer Ruizhuoxitou.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "Since 2016, we have invested in advanced technologies to explore their value-added applications in real estate. This includes the application of blockchain technology through a company called Ruizhuoxitou, which focuses on the R&D of blockchain technology and provides blockchain-based technological services, such as asset digitization, rights verification, and information authentication. Ruizhuoxitou is also able to build consortium blockchain based on its own intellectual property rights. At the end of last month, I introduced Ruizhuoxitou's blockchain platform at the Tsinghua University School of Economics and Management's blockchain technology forum."

The Ruizhuoxitou blockchain platform has already been applied by the Shenzhen Municipal Government's Financial Service Development Office Off-Site Supervision Alert System and the Shenzhen Qianhai Insurance Exchange Center's Insurance Policy Authentication System. As one of the first five Chinese blockchain companies to receive the National High-Tech Enterprise certification and pass the functionality test from the Ministry of Industry and Information Technology, Ruizhuoxitou has applied for 46 invention patents related to blockchain technology with China's State Intellectual Property Office and one under the Patent Cooperation Treaty with the World Intellectual Property Organization.

"Together with Xinyuan's existing smart community property management capabilities, this blockchain initiative will be another supportive technology with which we can capture the market opportunities in China's huge real estate market, and we hope to further develop the platform so that it may be applied in multiple sectors and industries," added Mr. Zhang.

BEIJING, Dec. 15, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and also in other countries, is bolstering the project management team for its property developments in New York with support from a new joint venture for professional services.

Xinyuan is constantly making efforts to enhance its existing development and project management capabilities in international markets. With this in mind, Xinyuan's U.S. unit has entered into a joint venture with Kuafu Properties. This venture, called Xin Fu Development LLC, is majority owned by Xinyuan's U.S. unit. The Xin Fu joint venture will complement and strengthen Xinyuan's existing capabilities in New York by supplying professional services and support related to construction management and marketing.

Xinyuan was the first real estate developer from China to be listed on the New York Stock Exchange in 2007. In 2012, Xinyuan was one of the first Chinese real estate developers to enter the U.S. market, and over the past several years it has been active in real estate development in New York. The company now has three projects in three boroughs of New York City.

Xinyuan remains owner of those projects, and will continue to control overall project development, including investment, construction, marketing and delivery, while Xin Fu will play a supporting role. The combined team will take advantage of the resources and expertise of both sides to deliver better projects and services to our customers in the US market.

Xinyuan remains committed to its U.S. operations, and will remain active in the New York market. Xinyuan's Oosten Project in the Williamsburg section of Brooklyn, New York, has 216 units in total, and was fully completed in 2017. The project captured the No.2 spot in Property Shark's ranking of the TOP-10 Best-selling buildings in New York City in 2016, and took the No.5 spot of the same survey for the first quarter of 2017. Xinyuan's second project in New York - Hudson Garden - is located at 10th Ave, Midtown Manhattan, and the construction work has already begun. Xinyuan will also continue to move forward with its project in Queens, which was obtained in 2016.

BEIJING, Dec. 1, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and in other countries, today announced the closing of its additional offering of US$100,000,000 in aggregate principal amount of 8.875% senior notes due 2020 (the "Notes"). The Notes are the same series as, and will be fungible with, the Company's outstanding $200,000,000 principal amount of 8.875% senior notes due 2020 issued on November 22, 2017.  The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries.

The Notes were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes in the U.S. or any other jurisdiction.

BEIJING, July 18, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that its new blockchain-powered real estate finance technology platform was released at the 1st China Financial Technology Conference held in Beijing in the second week of July. As IBM's (NYSE: IBM) first blockchain cooperation partner in China, Xinyuan established the online platform that connects home owners with broad channels for financing opportunities, while enjoying the safety, transparency and convenience afforded by IBM's blockchain technology. At the event, Xinyuan and Tsinghua University PBC School of Finance also jointly announced the establishment of Xinyuan Real Estate Financial Technology Research Center, a collaboration designed to support the platform.

With IBM providing the blockchain and smart contract technologies and Xinyuan building the real estate information database, the property evaluation system, the transaction system and the risk control modules, the Company expects that the platform will be able to support various types of applications, including consumer finance, investment and financing as well as industrial finance, by connecting investment and financing institutions, credit bureaus and merchants. The Company anticipates that this platform will contribute to the technological infrastructure of real estate finance and provide Xinyuan and other real estate developers with new patterns of real estate operations. The platform is also supported by the Industrial and Commercial Bank of China ("ICBC") global credit blacklist system of corporations and individuals. The platform is currently in the close-beta phase and is expected to be officially launched in August 2016.

Mr. Yong Zhang, Xinyuan's Chairman, commented, "As the first real estate company to collaborate with IBM on its blockchain technology, we are very pleased to announce our real estate blockchain platform. This platform demonstrates our efforts to explore new opportunities in China's real estate market through strategic collaboration with leading companies and establishes Xinyuan as a leader in real estate finance technology. Through the standardization and digitalization of the property appraisal process, we believe our platform can help revitalize China's real estate market by stimulating consumption, investment and financing activities. We anticipate this platform will support our real estate development activities while also representing Xinyuan's strategic evolution from a pure traditional real estate developer into a more diversified, technology-driven real estate company with differentiated business segments and global operations. We look forward to providing our shareholders with additional updates about this platform in the future."

BEIJING, Nov. 22, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and in other countries, today announced the closing of its offering of US$200,000,000 in aggregate principal amount of 8.875% senior notes due 2020 (the "Notes"). The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries.

The Notes were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes in the U.S. or any other jurisdiction.

Third Quarter 2017 Financial Results

• Total revenue increased 8.6% to US$482.4 million from US$444.3 million in the third quarter of 2016, and also increased 18.5% to US$1.3 billion for the first nine months of 2017 compared to US$1.1 billion in the same period of 2016.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.22 compared to US$0.41 in the third quarter of 2016 and US$0.14 in the second quarter of 2017.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "Our third quarter results were generally in line with our expectations under the ongoing restrictive government policies impacting China's overall housing market. We achieved double-digit growth in contract sales compared to the same quarter last year, thanks to steady demand of our active projects. The increase in contract sales for the first nine months of 2017 also met our growth target.

During the third quarter, we were pleased to commence pre-sales of two new projects, Zhengzhou International New City II and Changsha Mulian Royal Palace, and we look forward to beginning pre-sales of two new projects in Zhengzhou in the fourth quarter. We have also been reasonably increasing our land bank during the year, which provides us with a good foundation for development and growth in the coming quarters.

Finally, we were pleased to continue our commitment to our shareholders by paying our 23rd consecutive quarterly dividend and repurchasing shares during the third quarter," concluded Mr. Zhang.

Second Quarter 2017 Financial Results

• Total revenue increased 29.6% to US$488.2 million from US$376.6 million in the second quarter of 2016 and increased 73.9% from US$280.7 million in the first quarter of 2017.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.14, compared to US$0.39 in the second quarter of 2016 and US$0.11 in the first quarter of 2017.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "Our second quarter results were generally in line with our expectations under the current government's restrictive policies impacting China's overall housing market. We achieved 54.4% contract sales growth and 29.6% revenue growth compared to the same quarter last year, which was attributable to strong and solid performance of our active projects.

We were also pleased to increase our number of strategic land acquisitions. During the second quarter, we increased our presence in several existing markets where we have a sound track record, including Zhengzhou, Xi'an and Kunshan, and established our presence in a new market with national geographical significance - Zhuhai, an important location in the "Guangdong-Hong Kong-Macao Greater Bay Area". A total of five new projects with an aggregate GFA of 795,000 square meters were acquired in the second quarter, which we expect to support our growth in the years to come.

Furthermore, we are pleased to pay our 22nd consecutive quarterly dividend. The ongoing US$40 million share repurchase as well as the full redemption of our outstanding US$200 million senior notes in early July also demonstrate our commitment to delivering value to our shareholders," concluded Mr. Zhang.

BEIJING, July 11, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that the Company completed the redemption of an aggregate principal amount of US$200 million of all outstanding 13.0% Senior Notes due 2019 (the "2019 Notes") on July 10, 2017.

Xinyuan redeemed the 2019 Notes at the redemption price, equal to 106.5% of the principal amount, totalling US$213,000,000, plus accrued and unpaid interest of US$2,456,000 to the Redemption Date. The total redemption price paid by the Company on the Redemption Date was US$215,456,000. Xinyuan funded the redemption using proceeds from its offering of 7.75% Senior Notes due 2021, issued on February 21, 2017. Following the redemption of the outstanding 2019 Notes on the Redemption Date, all the redeemed 2019 Notes will be cancelled.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are pleased to complete the early redemption of the 2019 Notes. The refinancing allows us greater flexibility to continue executing our real estate development projects, creates additional value for shareholders, improves our balance sheet and lowers our financing costs."

BEIJING, June 20, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, announced that a notice regarding the redemption of its outstanding 13.0% Senior Notes due 2019 (the "2019 Notes") in full on July 10, 2017 has been given to the holders of the 2019 Notes and filed with Singapore Exchange.

As of the date when such announcement was delivered to corresponding bond holders, the outstanding principal amount of the 2019 Notes is US$200 million. Xinyuan will fund the redemption using the net proceeds from the offering of its 7.75% Senior Notes due 2021 issued on February 21, 2017.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are glad to announce the early redemption of the 2019 Notes. We believe this transaction will improve our balance sheet, extend the maturity of the Company's long-term debt and lower our interest level. We will continue to consider options to further reduce debt while increasing cash flow from operations."

First Quarter 2017 Financial Results

• Total first quarter revenue increased 19.2% to US$280.7 million from US$235.4 million in the first quarter of 2016.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.11, compared to US$0.09 in the first quarter of 2016.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "Our first quarter results were generally in line with our expectations under the current government's restrictive policies impacting China's overall housing market. We achieved approximately 20% revenue growth which was partially driven by improved average selling prices ("ASP") as well as healthy sales from our Brooklyn, New York-based Oosten project, which contributed over 20% to our total sales this quarter. The majority of our development projects in China performed in line with our budget in the first quarter and we maintained a cautious approach to unit sales volume and operating expenses given the current environment. Among Xinyuan's U.S. projects, our Oosten project has sold 38 units as of the end of the first quarter. Our second New York project, located in Manhattan, began excavation and foundation work, and our third New York project, located in Queens, continues to move through its planning stage for development.

On the financing front, we closed our offering of US$300 million 7.75% senior notes due 2021 at the end of February to further optimize our financial structure. This transaction in the first quarter is reflective of our focus on improving our debt structure and managing interest payments over the longer term. In addition, our property management service entity, Xinyuan Technology Service Co., Ltd., successfully listed on National Equities Exchange and Quotations (NEEQ) in China in this quarter, which we expect to provide better financing opportunities in the future.

As we look ahead, we continue to develop our planning stage projects more cautiously given the current environment. For the remaining quarters of this year, our goal is to generate positive cash flows from our operations, optimize pricing of our China and U.S.-based unit sales, commence pre-sales for four to five of our new planning stage projects, complete select land acquisitions and move forward with the next stages of development for our New York City-based projects. We are pleased to pay our 21st consecutive quarterly dividend and our recent $40 million share repurchase announcement demonstrates our commitment to delivering value for our shareholders," concluded Mr. Zhang.

BEIJING, April 21, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, celebrated the listing of its property management service entity, Xinyuan Technology Service Co., Ltd., on the National Equities Exchange and Quotations (NEEQ) in China.

Xinyuan's property management service was ranked No.14 in China by the National Property Management Association in 2016, as measured by overall competitiveness. Launched in 1998, Xinyuan property management is now managing properties with more than 50 million square meters in over 20 cities across the country, including Beijing, Shanghai, Jinan and Zhengzhou, and providing services to more than 100 thousand families.

The National Equities Exchange and Quotations (NEEQ), located in Beijing, is China's over-the-counter system for trading shares of public limited companies that are not listed on the two stock exchanges in Shenzhen and Shanghai. Xinyuan Technology Service Co.'s code on NEEQ is 870929.

"It is a significant milestone for Xinyuan property management to be listed on NEEQ," said Helen Zhang, CFO of Xinyuan. "The strong capital support will unleash Xinyuan property management's growth potential, drive its roll out of service standards, and further improve management and service quality. The listing is expected to speed up its nationwide expansion and make its business model more competitive."

After 19 years development, Xinyuan property management has grown into a modern service company. It is leading the industry by introducing advanced technologies to create intelligent community services. The listing on NEEQ will help Xinyuan property management integrate resources and capital to provide better quality and diversified services.

BEIJING, April 18, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that the Company's Board of Directors (the "Board") has approved a new share repurchase program, under which Xinyuan may purchase up to US$40 million of the Company's ADS through December 2019 (the "2017 Repurchase Program").

Repurchases under this program will be made from time to time through a combination of open market and privately negotiated transactions. The per share price cap will be determined from time to time by the discretion of the management.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "The implementation of a new share repurchase program reflects the confidence in our long-term growth prospects. We believe Xinyuan's strong financial position and our ability to generate operating cash flow to fund the new share repurchase program will create additional value for our shareholders."

BEIJING, Feb. 28, 2017 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and in other countries, today announced the closing of its offering of US$300 million in aggregate principal amount of 7.75% senior notes due 2021 (the "Notes"). The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries. Xinyuan intends to use the proceeds from the Notes offering to repay certain existing debts.

The Notes were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes in the U.S. or any other jurisdiction.

Fourth Quarter 2016 Financial Results

• Total fourth quarter revenue increased 22.2% to US$505.3 million from US$413.6 million in the fourth quarter of 2015 and increased 13.7% from US$444.3 million in the third quarter of 2016.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.18, compared to US$0.26 in the fourth quarter of 2015 and US$0.41 in the third quarter of 2016.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "Our fourth quarter results were in-line with our forecast from last quarter. Despite the implementation of new government restriction policies impacting China's overall housing market, our revenue and gross profit still achieved strong levels of growth on an annual and quarterly basis. Our ability to make operational adjustments to our projects in wake of government restrictions contributed favorably to our financial results. We reduced operating expenses and experienced high-margin residential unit sales activity, which helped support average selling prices."

"We continued to make progress with our real estate development projects in both mainland China and overseas markets. Among our U.S. projects, our Oosten project in Williamsburg, Brooklyn is performing well with approximately 80% of the total units pre-sold as of December 31, 2016. As construction at Oosten nears successful completion, we are pleased to recognize a total of $152 million in revenue from this project in 2016. Our two other NYC projects-one in Manhattan and the other in Queens, are progressing according to plan. In China, we continue to add to our land bank for future development with the recent acquisition in 2017 to secure land use rights for three land parcels in Zhengzhou, a market where Xinyuan has enjoyed great historical success."

"While we remain cautious about the policy and market changes, we continue to execute our selective land acquisition and project development strategy in 2017. Our financial position is solid and we have confidence in our flexible operational strategy and the development of our overseas projects. Finally, we remain committed to delivering value to our shareholders through the continuation of our quarterly cash dividend program and remain committed to our share repurchase program," concluded Mr. Zhang.

BEIJING, October 26, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that it has recently completed the acquisitions and secured the land use rights for a land parcel in Zhengzhou, the capital city of Henan province and a land parcel in Changsha, the capital city of Hunan province.

In Zhengzhou, the newly acquired land parcel is adjacent to land parcels that Xinyuan acquired earlier this year in April and will be included as part of the Company's larger Zhengzhou Shilipu project (Zhengzhou International New City). The newly acquired land parcel is conveniently located near the transfer station of Zhengzhou subway line 2 and line 5. This land parcel offers a total site area of approximately 41,831 square meters, with a total consideration of RMB357.1 million (approximately US$52.7 million) for the acquisition. The Company plans to develop residential apartments on this land with a gross floor area of approximately 175,690 square meters. The average floor price of this project is approximately RMB2,033 per square meter.

The newly acquired Changsha project is located in the Yuhua District, which is located in the downtown area of Changsha city with comprehensive community facilities and educational resources. This project is located near convenient public transportation with access to subway line 5 and line 9. The total site area of this land parcel is approximately 32,158 square meters, with a total consideration of RMB295 million (approximately US$43.6 million) for the acquisition. The Company plans to develop residential apartments and commercial buildings on this land with an estimated gross floor area of approximately 93,258 square meters. The average floor price of this project is approximately RMB3,163 per square meter.

Mr. Yong Zhang, Xinyuan's Chairman, commented, "We are very pleased to further expand our presence in Zhengzhou and Changsha, both of which are fast developing cities in China's real estate market. For both projects, we secured the land at very attractive prices and can set average floor prices at a level that would provide a highly attractive return on investment for Xinyuan. We believe these newly acquired projects will be successful for Xinyuan and further establish our presence in these regions of the country."

BEIJING, Oct. 10, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that Xinyuan (China) Real Estate, Ltd. (the "Issuer"), the Company's wholly-owned subsidiary that targets the development of residential properties in China, has received approval from the Shanghai Stock Exchange to issue up to RMB4.0 billion (approximately $600 million) non-public onshore corporate bonds (the "Bonds") to qualified investors in tranches.

The Issuer recently completed the issue of the first tranche of the non-public onshore corporate bonds (the "First Non-Public Tranche Bonds") of RMB1.5 billion (approximately US$225 million) with a coupon rate of 7.5%. The First Non-Public Tranche Bonds have a term of three years. The Issuer has the right to adjust the coupon rate and the investors have the right to require the Issuer to repurchase the First Non-Public Tranche Bonds at the end of the first year and the second year. Zhong De Securities and China Securities Co., Ltd. are the underwriters for this bond issue.

The Bonds have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Bonds, nor a solicitation for an offer to purchase the Bonds in the U.S. or any other jurisdiction.

BEIJING, Sept. 26, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that the Board of Directors has appointed Ms. Helen Zhang, previously an assistant president, as the Company's new Chief Financial Officer, effective immediately. Mr. Huaiyu "George" Liu will no longer serve as the Company's Chief Financial Officer and as a member of the Board of Directors, effective immediately. Mr. Liu's resignation was not the result of any disagreement with the Company with respect to the Company's financial or accounting practices. 

Ms. Zhang has been working for the Company for over seven years and has held a number of senior level roles with Xinyuan. She has nearly two decades of experience in accounting, finance and investor relations having worked for companies with public listings in mainland China, Hong Kong and the United States. Her career encompasses working at China National Metals & Minerals Import & Export Corp.; China Netcom Group Company Ltd.; TechFaith Wireless Technology Ltd.; Baidu, Inc. and Sohu.com Inc. Ms. Zhang received her Bachelor in Economics from the University of International Business and Economics in Beijing, China and her MBA at Fordham University in 2001.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "Helen has made significant contributions to Xinyuan as Financial Controller, interim CFO, Board Secretary and Assistant President over the past several years and we believe she is well positioned to move into the CFO role immediately. We look forward to her contributions as we continue to scale our operations in China and overseas."

"On behalf of the Company, I would like to thank Mr. George Liu for his contributions to Xinyuan over the past year and a half during which Xinyuan has experienced rapid development. We wish him well in his future endeavors."

BEIJING, Aug. 30, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced the closing of its offering of US$300 million in aggregate principal amount of 8.125% senior notes due 2019 (the "Notes"). The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries. Xinyuan intends to use the proceeds from the Notes offering to repay certain existing debts.

The Notes were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes in the U.S. or any other jurisdiction.

Second Quarter 2016 Financial Results

• Total second quarter revenue increased 36.9% to US$376.6 million from US$275.1 million in the second quarter of 2015 and increased 60.0% from US$235.4 million in the first quarter of 2016.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.39, compared to US$0.27 in the second quarter of 2015 and US$0.09 in the first quarter of 2016.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "We are very pleased with our second quarter operational and financial results as sales activity across our projects remained healthy in the second quarter. Our performance was supported by ongoing positive market momentum which helped support unit demand and ASPs at the majority of our projects. Year-over-year contract sales increased 42.8% to US$474.4 million and GFA sales increased 57.6% to 344,600 square meters resulting in 37.6% growth in net income to US$27.8 million.

In the U.S., our Oosten project is performing well. We pre-sold approximately 73% of the total units at this project through the end of June. We have also expanded our presence in New York City through our new Hudson Garden project in midtown Manhattan announced earlier this year as well as our newly acquired development project in Flushing, Queens announced earlier this month. These three projects together total approximately one million square feet of gross buildable square feet in New York City marking Xinyuan's ascent into the New York metro real estate development market.

In addition to our core real estate development operations in China and the U.S., we are also developing real estate related products and services that will complement our core real estate development and diversify the Company's business operations. During the second quarter, the Company's property management arm was awarded and ranked #14 among the top 100 property management companies in China by the National Property Management Association in 2016. Lastly, we are pleased to raise our full year financial forecast and increase our quarterly dividend payment, which represents a 100% increase from the first quarter 2016 dividend payment," concluded Mr. Zhang.

Business Outlook

For the full year 2016, the Company is raising its previously announced financial forecast and now expects full year contract sales to grow approximately 30% and net income to grow approximately 50% compared to 2015.

BEIJING, Aug. 1, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that its U.S. development arm, XIN Development Group International, Inc. ("XIN" and collectively with Xinyuan, the "Company") has acquired a parcel of land, located at 135-35 Northern Blvd in Flushing, Queens, New York for US$66.0 million. This project is within walking distance from the subway train #7 that connects commuters directly to midtown Manhattan. The land allows for a mixed use development comprising approximately 372,598 gross buildable square feet (34,615 square meters) with approved plans. 

The property was formerly a performance theater with a landmarked interior known as RKO KEITH'S Theater. Designs for the buildable development have been prepared by the architectural firm of Pei Cobb Freed with plans for 269 modern condo residences that include amenities such as a 24-hour doorman, gym, tenant lounge, 305 space parking garage and landscaped courtyard as well as a large ground-floor and second-floor retail space. XIN expects to begin construction on this property as the Company's Oosten project construction comes to completion. Together with the Company's Oosten project in Williamsburg, Brooklyn, the project in midtown, Manhattan, this project would give the Company approximately one million square feet of buildings under construction in three boroughs in New York City.

Mr. Yong Zhang, Xinyuan's Chairman, commented, "We are very pleased to be developing our third major project in the New York residential real estate market. The location for this project in downtown Flushing is ideally situated particularly as there is a shortage of inventory in the higher-end condominium segment. Given the location of this project, we expect it will be appealing to both local and foreign buyers and investors. We believe our new project will become a unique site in downtown Flushing and a successful project for our Company."

First Quarter 2016 Financial Results

• Total first quarter revenue increased 41.2% to US$235.4 million from US$166.7 million in the first quarter of 2015.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.09, compared to US$0.06 in the first quarter of 2015.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "We are very pleased to report another strong quarter as contract sales and net income increased significantly, up 51.2% year-over-year to US$279.6 million and up 53.3% to US$6.9 million, respectively. Our unit sales activity in the first quarter continued to benefit from favorable local and national government policies, including easing monetary policy and lower down payment requirements.

We are also pleased to further expand our presence in China and in overseas markets. In China, we acquired three land parcels in Beijing, Kunshan and Zhengzhou, respectively. These are markets that have favorable economic and population growth trends and where we have an existing presence and good track record of performance. While we continued to make good progress with our New York-based Oosten project, we added another well-located residential project in midtown Manhattan. We believe these new projects will help contribute to our future growth.

On the financing front, the Company's wholly-own subsidiary, Xinyuan (China) Real Estate, Ltd., completed the issue of its onshore corporate bonds in China during the first quarter, representing a total principal amount of RMB2.2 billion. These onshore bonds provide financing to Xinyuan at more favorable coupon rates than the past, reduce overall financing costs as well as our exposure to foreign currency risk. The Company also repurchased a total of 3,634,240 ADSs at a total cost of approximately US$14.2 million in the first quarter.

Finally, we continued to be active with our cash dividend and repurchase programs, as we remain committed to delivering value to our shareholders and expect to continue to pay quarterly cash dividends the remainder of this year."

Business Outlook

For the full year 2016, based on first quarter results, the Company raises its previously announced financial forecast, now expecting full year contract sales to grow between 15% and 20% and net income to grow between 20% and 25% compared to 2015.

BEIJING, April 22, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that it has recently completed the acquisitions and secured the land use rights for five land parcels in Zhengzhou, the capital city of Henan province, through two public auctions that took place in January and February 2016.

Land parcels No. 118 and No. 119, known as Zhengzhou Fancy City II, are adjacent and located next to the Company's Zhengzhou Fancy City project (Zhengzhou Jiaotong College project). Located within the 4th Ring Road, the area surrounding this project is located conveniently near urban transportation, as well as commercial and community services. Together, the land parcels offer a total site area of approximately 57,661 square meters, with a total consideration of RMB420.3 million (approximately US$64.8 million) for the acquisition. The Company plans to develop residential apartments and commercial buildings on this land with an estimated gross floor area of approximately 203,000 square meters.

Land parcels No. 7, No. 8 and No. 9 are adjacently located within the south 3rd Ring Road and are conveniently located near the Zhengzhou line 2 subway station. The newly acquired land parcels are part of the larger Shilipu development project, which has a planned gross floor area of approximately 3,300,000 square meters and will be equipped with community facilities as well as commercial and educational services. Together, the acquired three land parcels offer a total site area of approximately 89,088 square meters, with a total consideration of RMB679.2 million (approximately US$104.7 million) for the acquisition. The Company plans to develop residential apartments on this land with an estimated gross floor area of approximately 362,694 square meters.

Mr. Yong Zhang, Xinyuan's Chairman, commented, "We are very pleased to further expand our presence in Zhengzhou city by securing these well located, attractive development opportunities. Xinyuan's past development projects have performed well in Zhengzhou. We believe our favorable reputation and brand visibility can result in successful projects with strong sales and favorable investment returns.  Today's announcement aligns with our strategy to further penetrate into select regional cities in China that experience both rapid economic and population growth, and where we have the most experience and success."

SHENYANG, China, April 12, 2016 /PRNewswire/ -- NF Energy Saving Corporation (NFEC) ("NF Energy" or the Company), a leading energy saving service solutions provider for China's power, petrochemical, coal, metallurgy, construction and municipal infrastructure development industries, announced that it recently signed sales contracts for a total amount exceeding $1.82 million with five companies to supply the Company's flow control device.

In March, the Company's newly received orders are from the 2*660MW project of a subsidiary of State Grid, Shanxin, a 2*660MW low calorific coal power generation project and the Hubei Huanggang cogeneration project etc.. All of the products should be delivered to our customers in the second and third quarters of this year. Thanks to its high product quality and reputable customer service, NF Energy received several new orders lately, despite the current slowing down of economy in China.

As of now, the Company has documents prepared to bid in April and March for 16 more new projects.

 Fourth Quarter 2015 Financial Results

• Total fourth quarter revenue increased 13.9% to US$413.6 million from US$362.9 million in the fourth quarter of 2014 and increased 33.9% from US$309.0 million in the third quarter of 2015.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.26, compared to US$0.30 in the fourth quarter of 2014 and US$0.31 in the third quarter of 2015.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "We are pleased with our full year 2015 results, as contract sales were up 34.5% to US$1.40 billion and net income increased 37.1% to US$66.5 million. We experienced strong sequential and year-over-year GFA sales. Our improvement in GFA sales is indicative of improving market conditions."

"Recent local and national government policies which include easing monetary policy, relaxed home purchase restrictions and lower down payment requirements, continued to have a favorable impact on our unit sales activity in the fourth quarter. There were twenty two active development projects during 2015, including our US-based Oosten project, which represents a record number of projects for Xinyuan. We are also proud of our efforts to improve our balance sheet in the fourth quarter, highlighted by our increased cash position, lower debt level and improved coupon rates associated with our outstanding debt. We were active with our dividend program and repurchase activity throughout the year and remain committed to these programs for 2016."

"As we carefully monitor industry trends for 2016, we remain optimistic about the projects in our existing markets. While China's real estate market remains uncertain, we expect the favorable government policies to introduce new buyers to our projects. We also intend to explore new land acquisitions both in China and in overseas markets. Overall, we believe 2016 will represent another year of contract sales and net income growth for Xinyuan."

Business Outlook

The full year 2015 contract sales and net income were up 34.5% and 37.1% year-over-year to US$1.40 billion and US$66.5 million, respectively. For the full year 2016, the Company currently expects its full year contract sales to grow between 10% and 15% and net income to grow between 15% and 20% compared to 2015.

BEIJING, Feb. 4, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced the issue of the second tranche of the onshore corporate bonds (the "Second Tranche Bonds") by Xinyuan (China) Real Estate, Ltd. (the "Issuer"), the Company's wholly-owned subsidiary that targets the development of residential properties in China, has been completed with a coupon rate of 7.47%.

The issue size of the Second Tranche Bonds is RMB700 million (approximately US$107 million). The Second Tranche Bonds have a term of five years. The Issuer shall be entitled to raise the coupon rate and the investors shall be entitled to sell back the Second Tranche Bonds at the end of the third year.

BEIJING, December 30, 2015 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced the issue of the first tranche of the onshore corporate bonds (the "First Tranche Bonds") by Xinyuan (China) Real Estate, Ltd. (the "Issuer"), the Company's wholly-owned subsidiary that targets the development of residential properties in China, has been completed with a coupon rate of 7.5%.

The issue size of the First Tranche Bonds is RMB1 billion (approximately US$154 million). The First Tranche Bonds have a term of five years. The Issuer shall be entitled to raise the coupon rate and the investors shall be entitled to sell back the First Tranche Bonds at the end of the third year.

BEIJING, December 28, 2015 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that effective December 28, 2015, the Board of Directors approved a $40 million share repurchase program that will remain valid through December 2017. The program will be funded from available working capital. The Company previously had a US$60 million share repurchase program adopted in July 2013 which has expired.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "Xinyuan's diversified product portfolio, growing development opportunities, strong financial position and free cash flow generation enable us to execute on our business growth plan while also returning capital to our shareholders. With our newly approved repurchase program, we expect to capitalize on our current valuation to repurchase shares at attractive prices. The continuation of our share repurchase program along with our regular quarterly dividend payments in 2015 affirm our commitment to maximizing value for our shareholders."

The share repurchases under the 2015 program will be made from time to time through a combination of open market and privately negotiated transactions. The per share price cap will be determined from time to time by the discretion of the management.

BEIJING, December 24, 2015 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that Xinyuan (China) Real Estate, Ltd. (the "Issuer"), the Company's wholly-owned subsidiary that targets the development of residential properties in China, has received approval from the China Securities Regulation Commission to issue onshore corporate bonds (the "Bonds"), with five-year terms of maturity. The Issuer has received "AA" rating from the credit rating agency, United Credit Ratings Co., Ltd., towards the Issuer and the Bonds.

Under the approval terms, the Issuer is permitted to issue the Bonds with an aggregate principal amount of no more than RMB2.2 billion (approximately $340 million) with the first tranche bonds of RMB1 billion (approximately $154 million) (the "First Tranche Bonds"). The First Tranche Bonds have a term of five years. The Issuer shall be entitled to raise the coupon rate and the investors shall be entitled to sell back the First Tranche Bonds at the end of the third year. The First Tranche Bonds are proposed to be listed on the Shanghai Stock Exchange. The indicative coupon rate range of the First Tranche Bonds is between 5.5% and 7.5%. Zhong De Securities is the lead underwriter for this bond issue. Details of the procedures for the application for the First Tranche Bonds will be published on the website of the Shanghai Stock Exchange (www.sse.com.cn).

The Company is not providing any financial guarantees of the Bonds and will not directly receive any of the proceeds from the Bonds.

This press release does not constitute an offer to sell the Bonds nor a solicitation for an offer to purchase the Bonds in the U.S. or any other jurisdiction.

• Total third quarter revenue increased by 88.9% to US$309.0 million from US$163.6 million in the third quarter of 2014 and increased by 12.3% from US$275.1 million in the second quarter of 2015.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders increased to US$0.31 from US$0.04 in the third quarter of 2014 and US$0.27 in the second quarter of 2015.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "We are very pleased with our operational performance and financial results in the third quarter. We benefited from the continued strong momentum in our business as well as favorable government policies in the real estate sector. There were nineteen active projects at the end of third quarter that contributed to our results along with four projects under-planning in China. Government policies initiated over the last year, which include easing monetary policy, relaxed home purchase restrictions and lower down payment requirements, have supported the markets we serve. We expect these government policies will continue to favorably impact our business in the fourth quarter."

"Looking ahead, we remain committed to delivering value to our shareholders. We intend to continue to pay quarterly cash dividends the remainder of this year and execute our share repurchase program as appropriate based on valuation," concluded Mr. Zhang.

Business Outlook

For the full year 2015, based on the third quarter results, the Company reiterates its expectation of full year contract sales and net income growth of approximately 30% compared to 2014.

First Quarter 2015 Financial Results

• Total first quarter revenues were US$166.7 million, a 54.1% decrease from US$362.9 million recorded in the fourth quarter of 2014 and a 26.4% decrease from US$226.4 million recorded in the first quarter of 2014.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.06, compared to diluted net earnings per ADS of US$0.30 in the fourth quarter of 2014 and US$0.12 per ADS in the first quarter of 2014.
  

Mr. Yong Zhang, Xinyuan's Chairman said, "We experienced a challenging first quarter as demand for our housing units were down due to an overall slower market environment. Average sales prices at the majority of our projects held steady however GFA sales were down impacting overall sales and profit this quarter. The first quarter is traditionally slower and we expect our contract sales and revenue to improve during the course of the year. Our performance for the remainder of the year can also be aided by recent government policies aimed at stabilizing market conditions which include a lowering of the down payment ratio by home buyers. While we believe such policies can improve our sales opportunities, there remains uncertainty in China's real estate market including the timing on when market conditions may recover."

"We continue to invest for our future growth. Our current project portfolio at the end of the first quarter is comprised of 16 development projects totaling 1.98 million square meters. We launched one new project in the first quarter, Shanghai Royal Palace, and plan to launch two projects in the second quarter and four additional projects in the back half of the year. As of March 31, 2015, our total sellable GFA was approximately 3.23 million square meters, representing both active projects and projects in the planning stage," concluded Mr. Zhang.

BEIJING, April 9, 2015 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), a residential real estate developer with a focus on high growth cities in China, today announced that Dr. Manbo He has advised the Company that he is stepping down as Chief Financial Officer effective immediately due to personal reasons. Dr. He has indicated that he will be available through April 30, 2015 to ensure an orderly transition. Dr. He's resignation was not the result of any disagreement with the Company with respect to the Company's financial or accounting practices.

The Company has announced the appointment of Mr. Huaiyu "George" Liu as its new Chief Financial Officer, effective April 9th. Mr. Liu joins Xinyuan from Savills Asia Pacific where he served as Chief Financial Officer since 2011. In this role, Mr. Liu was responsible for all finance, accounting, tax, and audit matters, and covered risk management, legal and compliance, strategic planning, and corporate development as well. Savills Asia Pacific is part of Savills (LSE: SVS), a global real estate service provider and one of the FTSE 250.

From 2005-2011, Mr. Liu served as the Regional Finance Controller for the Asia region for Stena Envac, a European multinational company focused on construction and engineering. In this role, he was responsible for all financial and accounting matters for Envac's Asia operations. Mr. Liu holds a Bachelor's degree in Economics from Shenzhen University, an MBA from Cornell University and holds designations as a Certified Public Accountant - HKICPA and Chartered Accountant - ICAEW designations.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "I am pleased to welcome Mr. Liu, a seasoned CFO with extensive experience in the real estate sector. We anticipate he will be an excellent addition to our team and we look forward to working with George, leveraging his experience and capabilities as we continue to scale our operations in China. I'd like to thank Dr. He for his contributions to Xinyuan over the last year and we wish him well in his future endeavors."

Fourth Quarter 2014 Financial Results

• Revenues were US$362.9 million, a 121.8% increase from US$163.6 million recorded in the third quarter of 2014 and a 25.5% increase from US$289.2 million recorded in the fourth quarter of 2013. Contract sales totaled US$402.6 million, a 140.1% increase from US$167.7 million recorded in the third quarter of 2014 and a 6.6% increase from US$377.5 million recorded in the fourth quarter of 2013.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.34, compared to diluted net earnings per ADS of US$0.10 in the third quarter of 2014 and US$0.36 per ADS in the fourth quarter of 2013.

Mr. Yong Zhang, Xinyuan's Chairman said, "We are pleased to end 2014 with a very strong fourth quarter performance, as measured by our year-over-year contract sales and revenue growth, as we experienced a general improvement in project demand. As we have indicated throughout the year, our anticipated revenue and profit recognition for 2014 was back-end loaded, with the fourth quarter alone contributing 39%, 39% and 49% to total 2014 revenue, contract sales and net income. Despite challenging market conditions for the year, we still managed revenue and contract sales growth over 2013. While it is still early to forecast how quickly China's overall real estate market recovers, we are encouraged with our improved performance and believe the macro real estate environment continues to stabilize. With our continued focus on development projects in high growth cities, solid execution and stringent cost controls, we believe 2015 can be a very productive year for our business."

"2014 was a year of adjustment for our company as we invested in resources for our future development and growth. Our operational highlights for the full year include launching presales of ten development projects, acquiring eight projects for a total GFA of 1.83 million square meters and selectively entering into new geographic areas. The balance of our real estate property under development at the end of the fourth quarter increased to US$1.7 billion from US$1.6 billion at the end of the third quarter of 2014, reflecting 18 active development projects with another six projects that are expected to commence pre-sales in 2015. As of December 31, 2014, our total sellable GFA was approximately 3.08 million square meters, representing both active projects and projects in the planning stage, reaching a new record for Xinyuan."

"Finally, we want to express gratitude to our long-term shareholders for standing with Xinyuan during these turbulent times. In 2014, the Company distributed a dividend payment of US$0.05 per ADS each quarter. We also repurchased 4.5 million ADS at total cost of US$ 17.6 million for the full year. We remain committed to rewarding our shareholders in 2015 as we further scale our operations and grow Xinyuan into a leading real estate developer in China," concluded Mr. Zhang.

BEIJING, January 7, 2015 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), a residential real estate developer with a primary focus on high growth cities in China, today announced that it has recently acquired four land parcels in Zhengzhou, Henan province, through public auction.

Land parcels No.149 and No. 150 are adjacent and located next to the Company's Zhengzhou Thriving Family project. Together, they offer a total site area of approximately 123,906 square meters. Xinyuan paid a total of RMB779.7 million (approximately US$125.2 million) for the land use rights. The average estimated floor price of this project is approximately RMB2,098 per square meter. The Company plans to develop high-rise residential apartments on this land.

The other two land parcels - No. 151 and 152 - are also adjacent and located in the South of Zhengzhou, it's a new residential area with excellent living environment. Together, they offer a total site area of approximately 50,655 square meters. Xinyuan paid a total of RMB326.2 million (approximately US$52.4 million) for the land use rights. The average estimated floor price of this project is approximately RMB1,949 per square meter. The Company plans to develop high-rise residential apartments.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are excited to further expand our development portfolio and land bank in Zhengzhou, a mature market with very stable pricing and a healthy supply demand balance. These four land parcels are located in a promising region, next to the South Fourth Ring Road and a new subway line is under planning nearby the location of our new land parcels."

BEIJING, November 27, 2014 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a primary focus on high growth cities in China, today announced that it has recently acquired two land parcels in Wuqing District, Tianjin, through public auction.

Wuqing District enjoys convenient transportation, where people travel to both Beijing and Tianjin within 20 minutes by high-speed railway. The two land parcels are adjacent and located between the Beijing-Tianjin and Beijing-Shanghai express highways. The area surrounding has a well built infrastructure of community services. Together, it offers a total site area of approximately 263,520 square meters. Xinyuan paid a total of RMB317.6 million (approximately US$51.7 million) for the land use rights. The Company plans to develop low-density residential apartments, condos and villas on this land. The project will also include a kindergarten for an estimated gross floor area of approximately 2,600 square meters. The average estimated floor price of this project is approximately RMB1,176 per square meter.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are excited to acquire our first development in the Tianjin Municipality. This project is located in a developing outer district of the city and represents a compelling opportunity for Xinyuan to enter the Tianjin market. This project enhances our overall development portfolio and our growing pipeline of projects enables Xinyuan to maintain its competitive position in China's real estate market."

BEIJING, Nov. 26, 2014 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE:XIN), a residential real estate developer with a primary focus on high growth cities in China, today announced that it has completed the redemption of all of its 5% senior secured convertible notes (the "Note") due 2018.  The Company originally announced on November 11, 2014 its intention to fully redeem the Note on December 1, 2014 pursuant to a note redemption agreement entered into with TPG on November 7, 2014.  The Company redeemed the Note in full earlier on November 21, 2014, reducing the interest payable in connection with the redemption.  The total cash redemption amount, including the Principal, accrued interest up to and includingNovember 21, 2014 and the premium, totaled US$86,272,849.

Third Quarter 2014 Financial Results

• Net income was US$7.8 million, a 14.7% increase from US$6.8 million in the second quarter of 2014 and a 72.8% decrease from US$28.7 million reported in the third quarter of 2013.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.10, compared to diluted net earnings per ADS of US$0.08 in the second quarter of 2014 and US$0.39 per ADS in the third quarter of 2013.

Mr. Yong Zhang, Xinyuan's Chairman said, "China's real estate market remained challenging across the industry in the third quarter as there remained less home purchase activity by consumers. This resulted in lower revenue and contract sales than we anticipated last quarter, however, we managed to meet our net income guidance and achieve sequential profit growth as operating expenses were lower. We had 14 projects that were active and available for sale and we acquired one land parcel in Xi'an City, Shaanxi Province in the third quarter.

"At the end of the third quarter, the government initiated some important policies to improve China's housing market, which included allowing a broader range of home buyers access to lower down payments and easing mortgage credit. We believe such initiatives can help stabilize the real estate market and create more home purchasing activity over time. As we enter the fourth quarter, we will maintain strict cost controls and be highly selective with our land bank expansion activity. We have five new projects scheduled to launch in the fourth quarter and believe we are well positioned to enhance our performance as market conditions improve," concluded Mr. Zhang.

BEIJING, November 10, 2014 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with primary focus on high growth cities in China, today announced that the Company entered into a note redemption agreement with TPG Asia VI SF Pte. Ltd. (the "Holder") on November 7, 2014, pursuant to which the Company has agreed to redeem in full on December 1, 2014 (the "Redemption Date") its 5% senior secured convertible notes due 2018 in an aggregate principal amount of US$75,761,009 issued on September 19, 2013 to the Holder (the "Note").

The Company will pay in cash as a redemption price an amount equal to (1) the principal of the Note, plus (ii) all accrued and unpaid interest up to and including the Redemption Date, plus (iii) an amount equal to the principal multiplied by 13%. The company has available cash to fund the redemption, however it is also considering other alternatives to finance the redemption.

The Note contains a financial maintenance covenant relating to a Fixed Charge Coverage Ratio as well as a limitation on the incurrence of indebtedness. The Company and the Holder have agreed to waivers of those covenants beginning as of June 30, 2014 and most recently through December 1, 2014. The Company determined to redeem the Note early on a negotiated basis to be able to continue its business development without the constraints imposed by the covenants.

After the redemption, the Company will have no outstanding Note. The Company will continue to have outstanding an aggregate principal amount of $US400 million in senior notes. TPG remains a strategic investor of Xinyuan through its common shares holdings and will continue to have a right to a seat on Xinyuan's Board's as long as it continues to hold at least 5% of the outstanding common shares.

BEIJING, Aug. 22, 2014 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), a residential real estate developer with primary focus on high growth cities in China, today announced that its Board of Directors has declared a cash dividend for the second quarter of 2014 of US$0.025 per common share, or US$0.05 per American Depositary Share (ADS), which will be payable on September 12, 2014 to shareholders of record as of September 2, 2014

• Total second quarter revenues were US$166.8 million, a 26.3% decrease from US$226.4 million recorded in the first quarter of 2014 and a 16.0% decrease from US$198.5 million reported in the second quarter of 2013
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.08, compared to diluted net earnings per ADS of US$0.12 in the first quarter of 2014 and US$0.54 per ADS in the second quarter of 2013.

Mr. Yong Zhang, Xinyuan's Chairman, said, "Overall, China's real estate market slowed down in the second quarter due to credit tightening and adjustment in the property market after two years of strong returns for developers. We experienced a sequential and year over year GFA sales increase in the second quarter in a challenging environment. While we did not reduce the price of any of our existing main projects in the second quarter, we experienced lower ASP's due to the lower price of our three newly launched projects in Zhengzhou, Xingyang and Jinan, each of which is in line with its respective locations. These new projects which commenced pre-sales in the second quarter, contributed approximately 41% of GFA sales in the quarter. We did not acquire any new land parcels during the second quarter however we recently announced a land acquisition in early August."

"In the second half of the year, we expect to remain active with our project activity. We have five new projects that are scheduled to launch during the remainder of this year. Consequently, we expect our sales revenue and profit recognition for the full year to be back-end loaded," concluded Mr. Zhang.

Third Quarter Outlook

The Company expects contract sales in the third quarter of 2014 to reach approximately US$265 to US$280 million. Third quarter revenue is expected to total US$220 to US$230 million while net income is expected to reach US$7 to US$9 million.

BEIJING, June 30, 2014 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), a residential real estate developer with a focus on high growth cities in China, today announced the appointment of Dr. Manbo He as its new chief financial officer, effective June 30, 2014.

Dr. Manbo He joins Xinyuan from Kingold Group, a Guangzhou-based conglomerate, where he served as the group's chief operating officer since 2011. Dr. He has extensive experience in accounting, financial reporting, operations and corporate governance, and has held various executive positions and served on the board of several Chinese conglomerates including Wanda Group, Tiens Group, and Holley Group. Dr. He holds a Bachelor's Degree in Accounting, an MBA in Finance, and a PhD in Econometrics and is a Certified General Accountant in Canada.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are delighted that Dr. He has joined our executive management team and believe that his financial experience and leadership are a great fit for Xinyuan during the current stage of our company's development. Dr. He brings to Xinyuan over twenty years of experience in financial analysis, corporate finance, internal controls, and capital markets experience. We look forward to Dr. He's contributions as a key member of our executive team as we continue to make progress with the growth of our real estate development initiatives. I'd also like to personally thank Helen Zhang for her excellent work and strong contribution to Xinyuan as interim CFO for the last seven months. Helen will remain as Financial Controller and executive assistant to the CEO of the Company and will continue to play an active role in Xinyuan's investor relations initiatives."

BEIJING, March 12, 2014 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth cities in China, today announced that it has acquired a land parcel in Changsha City,Hunan Province.

This land parcel is located in a newly planned Central Business District area in the west of Changsha City, the capital city of centralChina's Hunan Province. A subway line passing through the area is under construction and will be open in October this year. The land parcel offers a site area of approximately 89,460 square meters. Xinyuan paid a total of RMB688.9 million (approximately US$112.2 million) for the land use rights. The Company plans to develop high rise residential apartments, low-density residential apartments/condos, as well as commercial property on this land parcel for a total estimated gross floor area of approximately 268,381 square meters with an average estimated floor price of approximately RMB2,567 per square meter.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We have been studying the Changsha market for a long time and are excited to enter this fast growing capital city in central China with strong consumption power and healthy supply demand balance in the local real estate market. Entering the Changsha market fits our strategy of focusing on high growth second tier cities and our business model of fast asset turnover. This newly acquired land parcel is well situated in a developing area and we believe it represents a promising start for our first project in Changsha."

Fourth Quarter 2013 Financial Results

• Total fourth quarter revenues were US$289.2 million, a 20.1% increase from US$240.7 million recorded in the third quarter of 2013 and a 9.9% increase from US$263.1 million reported in the fourth quarter of 2012.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.29, compared to diluted net earnings per ADS of US$0.39 in the third quarter of 2013 and US$0.47 per ADS in the fourth quarter of 2012.

Mr. Yong Zhang, Xinyuan's Chairman said, "We experienced a strong fourth quarter beating the mid-points of our quarterly revenue, contract sales and net income guidance. The general state of the real estate environment remained healthy in the fourth quarter and we experienced excellent project sales results in each of our operating cities. We commenced pre-sales at two projects in the fourth quarter-- Xuzhou Colorful City and our newly acquired Kunshan Royal Palace project, which has already sold out over 90% of the apartment units we have made available thus far. Additionally, our 3 most active projects -- Zhengzhou XIN City, Jinan Xinyuan Splendid and Suzhou XIN City -- each performed very well experiencing sequential improvements average selling prices and solid GFA sales levels."

"The balance of our real estate property under development at the end of the fourth quarter increased significantly to US$919.8 million compared to US$534.7 million at the end of the last quarter. This balance reflects nine active development projects with another five projects that are expected to commence pre-sales during the course of 2014. As of today's reporting date, our total sellable GFA was approximately 2.24 million square meters for active projects and under planning stage projects, a record for Xinyuan."

"For Xinyuan's long-term success, it's imperative that we expand more aggressively to become a larger player in the market. China's real estate industry is changing and property development companies need to get bigger to benefit from acquiring land at public auction at reasonable prices, attain greater price negotiating leverage and capitalize on compelling M&A opportunities. Additionally, financing costs are typically lower for large scale developers, whom we quantify as having annual contract sales that exceed RMB10 billion. 2014 is a building year for our company as we invest in resources for our future development and growth. As we expand our project pre-sales activity more aggressively in 2014 than in years past, higher operating expenses are expected to impact our year-over-year profit growth during the course of 2014. However, beyond this period, as our marketing expenses moderate and our development projects mature, we believe we will achieve higher net margin and overall profit growth on a percentage basis that is consistent with our future top line growth projections."

"Finally, we are pleased with the continuation of our dividend program, announcing our fourth quarter dividend. We remain committed to this program as we progress through 2014," concluded Mr. Zhang.

First Quarter and Full Year 2014 Outlook

The Company expects first quarter contract sales to reach approximately US$225 to US$230 million. First quarter revenue is expected to total US$195 to US$200 million while net income is projected at US$9 to US$11 million.

For the full year, the Company expects contract sales to reach approximately US$1,640 million. Full year revenue is expected to total US$1,230 to US$1,280 million while full year net income is projected at US$120 to US$125 million.

XINYUAN REAL ESTATE CO., LTD.
(Incorporated in the Cayman Islands with Limited Liability)
 
13.25% Senior Notes Due 2018
 
ANNOUNCEMENT

Hong Kong – February 12, 2014 -- Reference is made to the announcement of Xinyuan Real Estate Co., Ltd. (the “Company”) (NYSE: XIN) dated January 28, 2014 in relation of the solicitation of consents (the “Consent Solicitation”) described below. As indicated in the consent solicitation statement dated January 28, 2014, the consent solicitation period expired at 5:00 p.m., Central European time, on February 11, 2014.
 
The Company announces that it has received the requisite number of consents (the “Requisite Consents”) necessary for certain proposed amendments (the “Proposals”) to the Indenture, dated as of May 3, 2013 (as supplemented or amended to the date hereof, the “Indenture”), by and between the Company, the Subsidiary Guarantors (as defined therein) and Citicorp International Limited, as trustee (the “Trustee”) and as shared security agent (the “Shared Security Agent”), governing its 13.25% Senior Notes Due 2018 (Common Code 092214109, ISIN No. XS0922141097) (the “2018 Notes”)).
 
As the Requisite Consents have been obtained, the Company and the Subsidiary Guarantors intend to execute an indenture supplement with the Trustee and the Shared Security Agent as soon as practicable to give effect to the Proposals.

BEIJING, Jan. 13, 2014 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth cities in China, today announced an update to its Williamsburg, Brooklyn-based development project located at Kent Avenue and South 8^th Street, in the Williamsburg neighborhood of Brooklyn, New York. 

The Company commenced construction on this project in late November 2013 and the 506,000 sq. foot gross buildable residential condominium development project site is now active.  The Company signed a general contractor for the site in the fourth quarter, after a lengthy selection process and has also selected an exclusive U.S. listing agent to help market the available units to prospective buyers. 

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are excited to have embarked on the physical construction phase of the project after a careful and thorough pre-development and preparation phase.  We expect to commence pre-sales for this project in the next few months after we secure necessary approvals from various regulatory agencies.  We believe the location and timing of this project are ideal, particularly as the housing price recovery in New York remains in full effect.  With a strong operational team on the ground, we continue to adopt a very prudent approach on the execution front and are committed to ensuring that this project remains on schedule.  Overall, we are encouraged with the progress of all of our active development projects both in China and in the U.S."

BEIJING, December 7, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth cities in China, today announced the closing of its offering of US$200 million in aggregate principal amount of 13% senior notes due 2019 (the "Notes"). The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries. Xinyuan intends to repay certain existing debts, invest in real estate projects in the PRC and the United States and use the remainder for general corporate purposes.

BEIJING, November 15, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN) today announced that Kevin Wei has advised the Company that, effective November 15, 2013, he is stepping down as Chief Financial Officer due to personal reasons relating to the roles and responsibility of his position. Mr. Wei will stay as an advisor to the Company through April 2014 and continue to contribute his expertise to the Company's development.

Ms. Helen Zhang, the Company's Financial Controller, has been appointed as Interim Chief Financial Officer. Ms. Zhang has been working for the Company for nearly 5 years. She has more than a decade of experience in accounting, finance and investor relations having worked for companies with public listings in mainland China, Hong Kong and the United States. Her career encompasses working at China National Metals & Minerals Import & Export Corp.; China Netcom Group Company Ltd.; TechFaith Wireless Technology Ltd.; Baidu, Inc and Sohu.com Inc. Ms. Zhang received her Bachelor in Economics from the University of International Business and Economics in Beijing, China and her MBA at Fordham University in 2001.

Third Quarter 2013 Financial Results

• Total third quarter revenues were US$240.7 million, a 21.3% increase from US$198.5 million recorded in the second quarter of 2013 and a 6.5% increase from US$226.1 million reported in the third quarter of 2012. Third quarter revenue exceeded the previous guidance of US$215.0 million by 12.0%.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.39, compared to diluted net earnings per ADS of US$0.54 in the second quarter of 2013 and US$0.44 per ADS in the third quarter of 2012.

Mr. Yong Zhang, Xinyuan's Chairman said, "The third quarter was exceptionally strong for Xinyuan as we exceeded our quarterly revenue and contract sales forecasts and came in at the high end of our range for our net income forecast. These results were driven by solid operational execution within our existing development projects, including two new projects launched in the third quarter, and aided by a robust housing market in the cities in which we operate."

"The past few months have been an eventful period for Xinyuan. We've created a strong future revenue pipeline by adding five new projects to our development portfolio in the last two months alone. We also strengthened our management team through the addition of industry veterans Xinqi Wang as CEO and Kevin Wei as CFO. These talented and highly experienced executives will contribute significantly to Xinyuan's operational and financial performance and help realize our full growth potential."

"During the third quarter, we received an investment of US$108.6 million from TPG, one of the world's leading private investment firms in the form of common equity and convertible debt. These investment proceeds will assist us in expanding our land portfolio and developing our internal infrastructure and operational capabilities to drive future growth. We look forward to a fruitful long term relationship with our new investor TPG."

"Our Board recently approved the third quarterly cash dividend payment for 2013 of $0.05 per ADS. As we go forward, we are excited by our expansion opportunities and continue to focus on increasing our growth and profit opportunities for our shareholders."

Fourth Quarter and Full Year 2013 Outlook

The Company expects fourth quarter contract sales to reach approximately US$310 to US$320 million. Fourth quarter revenue is expected to total US$255 to US$265 million while net income is projected at US$20 to US$30 million.

With the addition of several new projects to the Company's active project list during the fourth quarter, the Company has raised its full year 2013 financial forecast.

Contract sales for the full year 2013 are now expected to reach US$930 to US$940 million. Revenue under the percentage of completion method is expected to reach US$860 to US$870 million, while net income is expected to exceed US$115 million for the year.

Third Quarter 2013 Financial Results

• Total revenue was US$240.7 million compared to US$198.5 million in the second quarter of 2013 and US$226.1 million in the third quarter of 2012.
• Diluted earnings per ADS were US$0.39, compared to US$0.54per ADS in the second quarter of 2013 and to US$0.44 per ADS in the same period in 2012.

Mr. Yong Zhang, Xinyuan's Chairman said, "The third quarter was exceptionally strong for Xinyuan as we exceeded our quarterly revenue and contract sales forecasts and came in at the high end of our range for our net income forecast. These results were driven by solid operational execution within our existing development projects, including two new projects launched in the third quarter, and aided by a robust housing market in the cities in which we operate."

"The past few months have been an eventful period for Xinyuan. We've created a strong future revenue pipeline by adding five new projects to our development portfolio in the last two months alone. We also strengthened our management team through the addition of industry veterans Xinqi Wang as CEO and Kevin Wei as CFO. These talented and highly experienced executives will contribute significantly to Xinyuan's operational and financial performance and help realize our full growth potential."

"During the third quarter, we received an investment of US$108.6 million from TPG, one of the world's leading private investment firms in the form of common equity and convertible debt. These investment proceeds will assist us in expanding our land portfolio and developing our internal infrastructure and operational capabilities to drive future growth. We look forward to a fruitful long term relationship with our new investor TPG."

"Our Board recently approved the third quarterly cash dividend payment for 2013 of $0.05 per ADS. As we go forward, we are excited by our expansion opportunities and continue to focus on increasing our growth and profit opportunities for our shareholders."

Fourth Quarter and Full Year 2013 Outlook

The Company expects fourth quarter contract sales to reach approximately US$310 to US$320 million. Fourth quarter revenue is expected to total US$255 to US$265 million while net income is projected at US$20 to US$30 million.

With the addition of several new projects to the Company's active project list during the fourth quarter, the Company has raised its full year 2013 financial forecast.

Contract sales for the full year 2013 are now expected to reach US$930 to US$940 million. Revenue under the percentage of completion method is expected to reach US$860 to US$870 million, while net income is expected to exceed US$115 million for the year.

BEIJING, Nov. 6, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with primary focus on high growth cities in China, today announced that its Board of Directors has declared a cash dividend for the third quarter of 2013 of US$0.025 per common share, or US$0.05 per American Depositary Share (ADS), which will be payable on November 29, 2013 to shareholders of record as of November 18, 2013.

BEIJING, Oct. 25, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth cities in China, today announced that it has acquired a residential project in Kunshan, Jiangsu Province. Xinyuan obtained this project through the acquisition of a local privately-owned real estate company in Kunshan.

The total site area of the land parcel is approximately 145,776 square meters. The development project will primarily be comprised of high rise residential apartment units for a total estimated construction gross floor area of approximately 284,000 square meters.

The total acquisition price for the project was approximately RMB844 million (approximately US$137.3 million). Xinyuan acquired equity of the local real-estate company valued at approximately RMB567 million (approximately US$93 million). Approximately RMB276 million (approximately US$45 million) of the entity's existing debt was paid off upon closing of the transaction. The Company is in the process of evaluating accounting treatment as well as future land appreciation tax and corporate income tax impact associated with this acquisition.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are pleased to have acquired this land parcel with construction-in-progress in Kunshan, a market in which we've experienced strong investment returns in the past. Our new project is a great follow on project to our Kunshan International City Garden project, where we have sold 96% of the total sellable GFA as of June 2013. The new Kunshan development is located in a desirable location, near a recently opened subway line that allows for direct travel to Shanghai within 60 minutes. We currently expect pre-sales for this project can commence as early as the 2013 fourth quarter." 

"We've announced five new projects in the last two months and continue to evaluate other compelling development opportunities. As demand for housing in China remains steady, we intend to expand our development portfolio to maximize our growth and profits for our shareholders."

BEIJING, September 30, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth cities in China, today announced that it has recently acquired four land parcels via auction.

The first parcel of land offers a total site area of approximately 114,624 square meters and is located in Suzhou,Jiangsu Province. Xinyuan paid a total of RMB1 billion (approximately US$163 million) for the land use rights for the parcel. The Company plans to develop residential apartments for a total estimated gross floor area of approximately 171,936 square meters and the average floor price is approximately RMB5,816 per square meter.

The second parcel of land offers a total site area of approximately 47,710 square meters and is located in Xingyang,Henan Province, a county-level city located 15 kilometers in the west of Zhengzhou, capital of Henan Province. Xinyuan paid a total of RMB116.55 million (approximately US$19 million) for the land use rights for the parcel. The Company mainly intends to develop high rise residential apartments for a total estimated gross floor area of approximately 119,275 square meters. The average floor price is approximately RMB977 per square meter.

The third and fourth land parcels are adjacent to one another in the Er Qi District of Zhengzhou, which is located near the south 4th ring road of the city. The Company expects to develop the two parcels of land as one project for a total site area of approximately 84,387 square meters. Xinyuan paid a total of RMB321 million (approximatelyUS$52 million) for the land use rights for the project. The Company plans to develop both commercial property and residential apartments on this project with an estimated total gross floor area of approximately 293,380 square meters. The average floor price is approximately RMB1,094 per square meter.

Mr. Yong Zhang, Chairman and Chief Executive Officer of Xinyuan, commented, "We have been quite active in recent months evaluating land purchase opportunities and are pleased to have secured four new parcels of land for development. We have strong development project experience in the Zhengzhou and Suzhou regions and are confident these new projects can generate strong investment returns for our shareholders. These new projects increase our project under planning inventory and are expected to contribute to our revenue stream for the next several years. As Xinyuan has dramatically increased its cash position via strong operational performance over the last year coupled with recent financial transactions, we are now utilizing the capital on our balance sheet to work on these exciting new projects and believe they can contribute favorably to Xinyuan's revenue and profit growth moving forward. We plan to remain active evaluating additional land purchase opportunities in 2013 and look forward to providing our shareholders with updates as we progress in the months ahead."

BEIJING, Sept. 19, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN, "Xinyuan" or "the Company"), a real estate developer with a focus on high growth cities in China, today announced the closing of its previously announced private placement of common shares and convertible notes to an affiliate of TPG (the "Investor").  At the completion of the transaction, Xinyuan issued to the Investor 12 million common shares at a price of US$2.74 per common share (equivalent to US$5.48 per ADS) and senior secured convertible notes due 2018 (the "Convertible Notes") in the aggregate principal amount of approximately US$75.8 million. 

Xinyuan received approximately US$108.6 million of gross proceeds from the private placement and anticipates using the proceeds, among other purposes, for land acquisition and general corporate purposes to support further development of the Company.

The Convertible Notes are convertible into common shares of Xinyuan at an initial conversion rate of US$3.00 per common share (equivalent to US$6.00 per ADS). The conversion rate is subject to adjustment upon the occurrence of certain events. A holder of Convertible Notes may convert notes, at its option, in integral multiples of US$100,000 principal amount at any time prior to the maturity date. 

The Convertible Notes carry an annual cash coupon rate of 5% and are scheduled to mature on September 19, 2018. Interest on the notes will be payable semi-annually in arrears on March 19th and September 19th of each year, beginning March 19, 2014. The Convertible Notes are secured pari passu with Xinyuan's outstanding US$200 million 13.25% senior notes due 2018 (the "Senior Notes") and are secured by the same collateral package and are guaranteed by the same subsidiaries of the Company as the Senior Notes.

Taking into account the common shares and the full conversion of the Convertible Notes, the Investor would hold a total of 37.2 million common shares (18.6 million ADSs) on a fully diluted basis, equivalent to approximately 20% of the Company's total share capital. Upon the closing of the transaction, Mr. Steve Sun joined Xinyuan's board of directors, as the Investor's nominee to the board. Mr. Sun also became a member of the board's compensation committee, nominating and corporate governance committee and investment committee. Effective upon closing, Mr. Omer Ozden resigned as a director of the Company. Mr. Ozden is expected to take an increased role with respect to the Company's capital markets and international real estate development efforts.

Xinyuan has agreed, subject to certain terms and conditions, to file a registration statement under the Securities Act of 1933, as amended (the "Securities Act"), covering the resale by the Investor from time to time in the form of ADSs representing the common shares sold to the Investor or issuable upon conversion of the Convertible Notes.  

The Convertible Notes and common shares have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

BEIJING , Sept. 11, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN, "Xinyuan" or "the Company"), a real estate developer with a focus on high growth cities in China, today announced the appointment of Mr. Kevin Wei as its new Chief Financial Officer.

Mr. Kevin Wei, who replaces retiring CFO Tom Gurnee, joins Xinyuan from IFM Investments Limited (NYSE: CTC), a real estate service provider and franchisor for CENTURY 21 in China, where he served the Chief Financial Officer since 2007 and as a director since 2008. Mr. Wei has extensive experience in accounting & auditing, SEC reporting, corporate finance and corporate governance. Prior to IFM, Mr. Wei held the Chief Financial Officer position at Solarfun Power Holdings Co., Ltd., (i.e. Hanwha SolarOne Co., Ltd.) (Nasdaq: HSOL), a Chinese solar company listed in U.S. He also previously served as the head of internal audit for LG Philips Displays International Ltd., and as the head of regional corporate audit for the Asia Pacific region for Altria Corporate Services Inc. Prior to his corporate experience, Mr. Wei worked with KPMG LLP and Deloitte & Touche LLP in both the US and China where he gained extensive external audit and merger & acquisition advisory experience. Mr. Wei earned his bachelor's degree from Central Washington University with a double major in Accounting and Business Administration. He is also a member of American Institute of Public Accountant.

Mr. Yong Zhang, Chairman and Chief Executive Officer of Xinyuan, commented, "We are very pleased that Kevin has joined our executive management team. As an experienced CFO, he brings over 22 years financial reporting & analysis, corporate finance, internal controls, and capital markets experience. We remain excited about our business momentum and look forward to Kevin's contributions to our continued progress."

BEIJING, Aug. 26, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN, "Xinyuan" or "the Company"), a real estate developer with a focus on high growth cities in China, announced today that the Company has entered into an agreement with TPG, one of the world's leading private investment firms, under which TPG will invest US$108.6 million through the purchase of convertible notes and common shares.

Under the agreement, TPG has agreed to purchase 1) convertible notes due 2018 in the aggregate principal amount of US$75.8 million, and 2) US$32.9 million worth of common shares. The convertible notes carry an annual cash coupon rate of 5.0% and will be convertible into Xinyuan's common shares at an initial conversion price of US$6.00 per ADS. The common shares will be issued at US$5.48 per ADS. Taking into account the common shares and assuming the convertible notes are fully converted, TPG will hold a total of 18.6 million ADSs post transaction on a fully diluted basis, equivalent to approximately 20% of the Company's total share capital taking into account the investment by TPG. In accordance with the terms of the purchase agreement, TPG will be entitled to nominate one non-executive director to Xinyuan's board of directors following the investment.

Subject to and upon closing, Xinyuan will receive US$108.6 million of gross proceeds from the issuance of the convertible notes and the sale of common shares, which will be used, among other purposes, for land acquisition and general corporate purposes to support further development of the Company. Closing of the private placement is subject to customary closing conditions.

Mr. Yong Zhang, Chairman and Chief Executive Officer of Xinyuan, said, "We welcome the investment from TPG and see significant upside to partnering with TPG to achieve our growth objectives. With this investment, we believe that we are in a position to expand our land acquisitions while also continuing to develop our internal infrastructure and operational capabilities. We believe this long-term partnership will not only further strengthen Xinyuan's financial situation but also be highly beneficial for our development in the long run."  

Steve Sun, Partner and Managing Director of TPG, said, "We are impressed by Xinyuan's solid financial position and experienced management team and look forward to providing our resources and experience to help Xinyuan achieve its strategic objectives. We believe Xinyuan is well positioned to continue to deliver growth and solidify its position in its key markets going forward, and we look forward to a productive partnership."

Second Quarter 2013 Financial Results

• Total second quarter revenues were US$198.5 million, a 17.2% increase from US$169.4 million recorded in the first quarter of 2013 and a 21.6% decrease from US$253.1 million reported in the second quarter of 2012. Second quarter revenue exceeded the previous guidance of US$140.0 million by 41.8%.
• Net income reached US$39.4 million, a 48.1% increase from US$26.6 million in the first quarter of 2013 and a 43.2% decrease from US$69.4 million reported in the second quarter of 2012. Second quarter net income exceeded the previous guidance of US$25.0 million by 57.6%.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.54, compared to diluted net earnings per ADS of US$0.37 in the first quarter of 2013 and US$0.94 per ADS in the second quarter of 2012.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer said, "We are very pleased with our operational and financial results in the second quarter, where we once again exceeded our contract sales, revenue and net income forecasts. The stronger-than-expected results demonstrated our ability to achieve and surpass corporate objectives and financial targets. The fundamentals of China's housing market remained healthy in the second quarter and buying demand at our development projects remained strong, improving our sequential quarterly revenue growth and profitability."

"Looking at the second half of this year, we expect to continue developing projects at a measured pace with stable average selling prices. Sellable inventory levels further decreased in the second quarter, however, we expect sales to accelerate as four new projects commence pre-sales in the -second half of the year. Consequently, we are once again raising our full year 2013 financial forecast."

"In the second quarter of 2013, Xinyuan purchased 1,314,858 ADS on the open market at a total cost of approximately US$5.77 million. Our Board recently approved an additional US$60 million share repurchase program through 2015, as well as a second quarterly cash dividend payment for 2013 of $0.05 per ADS. The existing share repurchase program combined with our regular dividend demonstrates our confidence in Xinyuan's long-term growth prospects."

Third Quarter and Full Year 2013 Outlook

The Company projects higher sequential results in the third quarter of 2013 based on launch of presales activity on two new projects: Zhengzhou XIN City and Suzhou XIN City.

The Company expects third quarter contract sales to reach approximately US$200 to US$220 million. Third quarter revenue is expected to total US$210 to US220 million while net income is projected at US$25 to US$30 million.

With the fourth quarter addition of Xuzhou Colorful City and Beijing Xindo Park to the Company's active project list, the Company has raised its full year 2013 financial forecast.

Contract sales for the full year 2013 are expected to exceed US$880 million. Revenue under the percentage of completion method is expected to exceed US$820 million while net income is expected to exceed US$110 million for the year

BEIJING, August 5, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with primary focus on high growth cities in China, today announced that its Board of Directors has declared a cash dividend for the second quarter of 2013 of US$0.025 per common share, or US$0.05per American Depositary Share (ADS), which will be payable on August 30, 2013 to shareholders of record as ofAugust 16, 2013.

BEIJING, July 16, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II and III cities in China, today announced that through June 30, 2013 it had repurchased $12.6 million of its US$20 million share repurchase program originally announced on June 21, 2012. Effective July 12, 2013, the Board of Directors has approved an additional US$60 million share repurchase program through 2015. This will be funded from available working capital.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer, stated, "Our first quarter 2013 results have once again demonstrated our ability to achieve and surpass corporate objectives and financial targets. Xinyuan's diverse development projects, solid balance sheet, and China's healthy housing market all bode well for our growth and profitability this year. Our strong cash position and optimistic outlook in our business performance allow us to expand our share repurchase program. We expect to carry out the remainder of our $20 million share repurchase program in the near future and will continue to capitalize on our discounted valuation to buy back shares at attractive price levels with our newly approved $60 million repurchase program." 

The share repurchases under this program will be made through the open market, with the timing of purchases and the amount of stock purchased determined at the discretion of the Company's management.

BEIJING, May 21, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II and III cities in China, today announced that Tom Gurnee, the Company's Chief Financial Officer for the past four and a half years, plans to retire as CFO in August 2013. Mr. Gurnee will remain on the Company's Board of Directors following his retirement as CFO.

The Company has formed a search committee, which includes members of the Board's audit committee, to lead the effort to locate Mr. Gurnee's successor. The Company plans to have a new CFO in place prior to Mr. Gurnee's retirement in order to provide an orderly transition.

Mr. Zhang Yong, Xinyuan's Chairman and Chief Executive Officer, said, "Tom has been an invaluable asset to Xinyuan in recent years and I want to thank him for his contributions to the growth, development, and stability of our business. Xinyuan has emerged much stronger and in a much better financial position thanks to his efforts. We wish him well in his retirement. The timing of his departure should allow for a smooth transition to a new CFO."

"It has been a privilege serving at Xinyuan and being enabled to build a strong financial team. It has been gratifying to be a part of the Company's strong growth and development over the years resulting in margin expansion, and a markedly improved balance sheet", commented Mr. Gurnee. "Xinyuan is well-positioned for growth in the years to come and I have a high level of confidence that the current organization will perform admirably. I look forward to assisting management as needed during this transition period.

First Quarter 2013 Financial Results

• Revenueswere US$169.4 million, a 1.9% decrease from US$172.6 million reported in the first quarter of 2012, and a 35.6% decrease from US$263.1 million recorded in the fourth quarter of 2012. First quarter revenue exceeded the midpoint of previous guidance of US$135.0 million by 25.5%.
• Net income reached US$26.6 million, a 14.7% increase from US$23.2 million reported in the first quarter of 2012 and a 20.8% decrease from US$33.6 million in the fourth quarter of 2012. First quarter net income exceeded the midpoint of previous guidance of US$17.0 million by 56.5%.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.37, compared to diluted net earnings per ADS of US$0.31 in the first quarter of 2012 and US$0.47 per ADS in the fourth quarter of 2012

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer said, "The 2013 first quarter was a very strong start for Xinyuan as we significantly exceeded our first quarter 2013 revenue, contract sales and net income guidance forecast. The fundamentals of China's housing market remained healthy as expected with general housing prices stable in the first quarter. Additionally, we have not experienced any discernible changes in customer buying patterns in the wake of the central government's latest home purchase restriction announcements.

"Although our first quarter results were impacted by the usual Chinese New Year seasonality effect, first quarter results were stronger than our previous expectation due to strong buying demand at our development projects. In the second quarter, we project lower sequential results due to lower sellable inventory levels, but we expect sales to pick up in the second half of this year as three new projects commence pre-sales and contribute to our revenue performance in the back half of the year. Consequently, we are pleased to raise our full year 2013 guidance accordingly, which reflects higher levels of contract sales under the current operating environment.

"As announced earlier, we have successfully issued US$200 million of senior notes due in 2018 to repay certain existing debts, and invest in new projects in China and the United States.

"As we continue to evaluate opportunities to maximize return for our shareholders, we are pleased to announce that our board of directors has approved a quarterly dividend of US$0.05 per ADS payable on May 31, 2013 to shareholders of record as of May 21, 2013.

"Overall, we are very pleased with our operational and financial results in the first quarter and remain confident in Xinyuan's long-term growth strategy with our experienced managerial team, attractive development projects and solid balance sheet."

Second Quarter and Full Year 2013 Outlook

The Company projects lower sequential results in the second quarter of 2013 on lower than expected sellable inventory due to stronger than expected sales of inventory in the first quarter.

The Company expects contract sales in the second quarter of 2013 to reach approximately US$150 million. Revenue is expected to total US$140 million in the second quarter while net income is expected to reach US$25 million including US$9 million in tax expense benefits to be realized in the second quarter.

The Company is raising its full year 2013 guidance forecast. Contract sales are now expected to reach US$850 million versus US$830 million guided previously. 2013 full year revenue under the percentage of completion method is projected to total US$820 million, up 8% from last quarter's midpoint of previous guidance while net income is expected to reach US$105 million, up 11% from the midpoint of previous guidance.

BEIJING, May 4, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II and III cities in China, today announced the closing of its offering of US$200 million in aggregate principal amount of 13.25% senior notes due 2018 (the "Notes"). The Notes are guaranteed by certain of Xinyuan's subsidiaries and secured by a pledge of the capital stock of certain of Xinyuan's subsidiaries. Xinyuan intends to use the net proceeds of this offering to repay certain existing debts, invest in new real estate projects in China and the United States and the remainder for general corporate purposes.

The Notes were offered outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes, nor a solicitation for an offer to purchase the Notes in the U.S. or any other jurisdiction.

BEIJING, October 16, 2012 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II & III cities in China, today announced that its Board of Directors has declared its third quarterly cash dividend payment for 2012 of US$0.02 per common share, or US$0.04 per American Depositary Share (ADS), which will be payable on October 31, 2012 to shareholders of record as of October 25, 2012.

In April 2012, the Company announced the initiation of a quarterly cash dividend of US$0.02 per common share, or US$0.04 per ADS, equivalent to an annual cash dividend of US$0.08 per common share, or US$0.16 per ADS. The first quarterly dividend was payable to shareholders in May 2012 and the second was payable to shareholders in August 2012.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "We are pleased to reward our shareholders with our third quarterly dividend payment for 2012. We look forward to strong operational execution for the remainder of this year and will continue to evaluate opportunities to further enhance value for our shareholders."

BEIJING, October 1, 2012 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, affordable housing for middle-income Chinese residents, today announced that on September 29, 2012 it has acquired via auction a parcel of land in Beijing, the capital of the People's Republic of China.

Xinyuan paid a total of RMB1,030 million (US$162.4 million) for the unencumbered land use rights for the parcel, which offers a total site area of 57,862 square meters. Based on pre-planning of the proposed development, the estimated gross floor area is approximately 130,000 square meters, of which, 10,500 square meters are public rental housing which will be purchased by the Beijing government at a fixed price. This project is located in Daxing District, which is forty minutes from the center of town via Subway Line 4 with a station just 500 meters from the project.

"We are excited to acquire our first development in Beijing. With the implementation of government housing price restriction policies over the last two and a half years, we believe that land prices in Beijing have reached reasonable levels. The location of the project is between the southern 5^th and 6^th ring roads with an existing subway station close by. Our target customer segment will be young first-time home buyers, young couples and commuters working downtown who would like to establish a family. In conformance with XIN's positioning strategy, we will build smaller-sized, affordable apartments for Beijing commuters. With our corporate headquarters in Beijing, we believe this project will promote corporate branding, enrich our product portfolio, and help build a solid project team in a highly competitive market. All of these factors are of strategic importance for XIN's competitiveness in the future," said Mr. Yong Zhang.

Second Quarter 2012 Results

• Total second quarter revenues were US$253.1 million, a 38.5% increase from US$182.7 million reported in the second quarter of 2011, and a 46.6% increase from US$172.6 million recorded in the first quarter of 2012.

• Net income reached US$69.4 million, a 118.2% increase from US$31.8 million reported in the second quarter of 2011 and a 199.1% increase from US$23.2 million in the first quarter of 2012.
• 
  Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.94, compared to diluted net earnings per ADS of US$0.40, in the second quarter of 2011 and US$0.31 per ADS, in the first quarter of 2012.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer said, "We were pleased to report the best quarter in our operating history with record contract sales, revenue and net income. As China's central bank reduced the reserve requirement ratio and interest rates were lowered to stimulate the economy, the real estate market responded with strong demand. All of our major projects experienced healthy levels of GFA sales and ASP trends."

"Our balance sheet continued to strengthen as our cash increased by US$89 million, while our debt was reduced by US$54 million. Meanwhile, our quarterly dividend payment continued in the second quarter and in June we announced an additional US$20 million share buyback program after completing the US$10 million share buyback program initiated in May 2011."

"Based on the current market environment, we believe that 2012 will be a record year for Xinyuan and we are adjusting our full year financial forecast accordingly. We continue to seek attractive land acquisitions at reasonable prices to ensure the future development and growth of our business. Our focus on affordable developments targeting homeowners in Tier II and III cities aligns well with government housing policies as well as continued urbanization trends in China."

Third Quarter and Full Year 2012 Outlook

The Company expects contract sales in the third quarter of 2012 to be in the range of US$215-225 million. Revenue under the percentage of completion method is expected to range between US$225 and US$235 million and net income in the third quarter is expected to be in the range of US$30.0 to US$33.0 million.

Fourth quarter contract sales, revenue, and net income are expected to be lower than the third quarter on lower sellable inventory as project sell outs at Suzhou International City Garden, Chengdu Xinyuan Splendid, Zhengzhou Modern City, and Zhengzhou Yipinxiangshan will not be offset by new projects until early 2013.

For the full year 2012, contract sales are expected to be in the range of US$770 to US$790 million. Revenue under the percentage of completion method is expected to range between US$825 and US$845 million and net income is expected to be in the range of US$130 to US$140 million.

BEIJING, July 24, 2012 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II & III cities in China, today announced that its Board of Directors has declared its second quarterly cash dividend payment for 2012 of US$0.02 per common share, or US$0.04 per American Depositary Share (ADS), which will be payable on August 20, 2012 to shareholders of record as of August 3, 2012.

In April 2012, the Company announced the initiation of a quarterly cash dividend of US$0.02 per common share, or US$0.04 per ADS, equivalent to an annual cash dividend of US$0.08 per common share, or US$0.16 per ADS. The first quarterly dividend was payable to shareholders in May 2012.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "We are pleased to announce the second quarterly dividend payment for 2012, which further demonstrates our confidence in our business outlook in 2012 and our long term financial strength. We will continue to focus on ways to maximize shareholder value."

BEIJING, June 21, 2012 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II cities in China, today announced that it had completed its US$10 million share repurchase program originally announced on May 26, 2011. Through June 18, 2012, the Company had repurchased 4.5 million American Depositary Shares ("ADS") at a total cost of US$10 million.

In addition, the Board of Directors has approved an additional US$20 million share repurchase program effective immediately. This will be funded from available working capital.

The share repurchases under this program will be made through the open market, with the timing of purchases and the amount of stock purchased determined at the discretion of the Company's management.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "Our strong financial position and confidence in our business performance allowed us to initiate an additional share repurchase program. We believe the current trading range of Xinyuan's stock provides an exceptional investment value for the Company and the additional repurchase program is an effective means to enhance shareholder value. Our diverse project portfolio, solid cash position, and recent improving housing market performance all bode well for our growth and profitability this year."

Highlights for the First Quarter 2012

• Total first quarter revenues were US$172.6 million, an 88.0% increase from US$91.8 million reported in the first quarter of 2011, and a 13.6% decrease from US$199.8 million recorded in the fourth quarter of 2011.
• Contract sales totaled US$159.7 million, a 63.0% increase from US$98.0 million recorded in the first quarter of 2011, and a 7.2% decrease from US$172.1 million recorded in the fourth quarter of 2011.
• Total gross floor area ("GFA") sales were 114,600 square meters, a 40.4% increase from 81,600 square meters sold in the first quarter of 2011 and a 2.4% increase from 111,900 square meters sold in the fourth quarter of 2011.
• Selling, General, and Administrative ("SG&A") expenses as a percent of total revenue totaled 6.9% compared to 8.1% in the first quarter of 2011 and 5.8% in the fourth quarter of 2011.
• Net income reached US$23.2million, a 98.3% increase from US$11.7 million reported in the first quarter of 2011 and an 18.0% decrease from US$28.3 million in the fourth quarter of 2011.
• Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.31, equivalent to US$0.15 per common share, compared to diluted net earnings per ADS of US$0.16, equivalent to US$0.08 per common share, in the first quarter of 2011 and US$0.38 per ADS, equivalent to US$0.19 per common share, in the fourth quarter of 2011.
• Cash and cash equivalents, including restricted cash, increased by US$28.1 million to US$515.7 million as of March 31, 2012 from US$487.6 million as of December 31, 2011. Short and long term debt decreased byUS$2.8 million to US$282.7 million compared to US$285.5 million as of December 31, 2011.
• On April 18, 2012 the Company announced a quarterly dividend of US$0.04 per ADS (US$0.02 per share) to shareholders of record on April 30, 2012 payable on May 15, 2012.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer said, "We were pleased to experience a strong contract sales growth in February and March versus a very weak January. As a result, we exceeded our contract sales, revenue and net income guidance ranges for the first quarter. Our contract sales results reflect the impact of selective discounting within certain development projects and indicate that our development projects in Tier II & III cities continue to be better insulated from restrictive government policies than projects in Tier I cities. Ten development projects were active in the first quarter with total GFA sales of nearly 115,000 square meters.

"Looking ahead, and assuming there will be no easing of government-implemented buyer restriction policies, we expect contract sales to show moderate growth over prior 2012 financial projections with selective discounting continuing through the end of the year.

"We were also pleased to announce the implementation of a US$0.04 per ADS quarterly dividend. Our annual payout of US$0.16 per ADS is 60% higher than the prior year period. We continue to seek attractive land acquisitions at reasonable prices and to maximize shareholder returns through our quarterly dividend payments and share repurchase program. With a highly diversified project pipeline and strong balance sheet, we remain highly confident in our strategy to offer affordable developments in Tier II & III cities."

BEIJING, April 18, 2012 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II & III cities in China, announced today that its Board of Directors has declared a quarterly cash dividend of US$0.02 per common share, or US$0.04 per American Depositary Share (ADS), payable May 15, 2012, to shareholders of record on April 30, 2012. This is equivalent to an annual cash dividend of US$0.08 per common share, or US$0.16 per ADS, which represents a substantial increase over the previous year's annual dividend of $0.10 per ADS.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "We are pleased to continue our cash dividend for the second consecutive year and to initiate distribution of our dividend payment on a quarterly basis going forward. Management's decision to increase the dividend demonstrates Xinyuan's financial health and operational strength despite the challenging property market environment in China. We remain confident in our future growth prospects and long-term financial strength."

Highlights for the Fourth Quarter 2011

• Total fourth quarter revenues were US$199.8 million, a 45.6% increase from US$137.2 million reported in the fourth quarter of 2010, and 6.3% decrease from US$213.3 million recorded in the third quarter of 2011.
• Contract sales totaled US$172.1 million, an 11.3% decrease from US$194.1 million recorded in the fourth quarter of 2010, and 33.1% decrease from US$257.1 million recorded in the third quarter of 2011.
• Total gross floor area ("GFA") sales were 111,900 square meters, a 35.4% decrease from 173,200 square meters sold in the fourth quarter of 2010 and 40.7% decrease from 188,700 square meters sold in the third quarter of 2011.
• Selling, General, and Administrative ("SG&A") expenses as a percent of total revenue totaled 5.8% compared to 6.7% in the fourth quarter of 2010 and 6.7% in the third quarter of 2011.
• Net income reached US$28.3 million, a 31.0% increase from US$21.6 million reported in the fourth quarter of 2010 and 9.3% decrease from US$31.2 million in the third quarter of 2011.
• Diluted net earnings per share attributable to ordinary shareholders were US$0.19, equivalent to US$0.38per American Depositary Share ("ADS"), compared to diluted net earnings per share of US$0.14, equivalent to US$0.28 per ADS, in the fourth quarter of 2010 and US$0.21, equivalent to US$0.42 per ADS, in the third quarter of 2011.
• Cash and cash equivalents, including restricted cash, decreased by US$37.5 million to US$487.6 million as of December 31, 2011 from US$525.1 million as of September 30, 2011 as the Company spent US$83.0 million on new land acquisitions in the fourth quarter of 2011. Short and long term debt decreased byUS$18.0 million to US$285.5 million compared to US$303.5 million as of September 30, 2011.
• On May 26, 2011, the Company announced a share repurchase program of up to US$10 million. In the 2011 fourth quarter, the Company repurchased 1,380,265 ADS's at a total cost of US$2.5 million. Since the start of the share repurchase program, Xinyuan has repurchased 3,771,764 ADS's at a total cost of nearly US$8.0 million.
• The Company acquired two parcels of land In Zhengzhou and Xuzhou with a total GFA of approximately 326,000 square meters.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer said, "We were pleased to achieve our revenue and net income guidance ranges for the fourth quarter despite market headwinds experienced from November 2011 onwards. While broader demand for our projects was affected by ongoing home buying restriction policies, our development projects in Tier II & III cities have been better insulated from more significantly weaker housing prices in Tier I cities. Eleven development projects were active in the fourth quarter with total GFA sales of approximately 112,000 square meters and average selling prices increasing 12% to RMB 9,940 primarily due to a mix of higher-priced projects and sales of commercial retail space in our Chengdu and Zhengzhou Modern City projects which carry higher prices than residential space.

"For the full year of 2011, our revenue increased by 52.8% to US$688 million from US$450 million in 2010. Net profit surpassed US$100 million, which is virtually double the previous year's profit. This strong performance has allowed us to purchase land, reduce our debt, establish a stock buyback program, and initiate a dividend program.

"Looking ahead, we expect contract sales to remain sluggish in 2012 if there is no easing of buyer restriction policies. However, we believe that 2012 will see year-over-year revenue and net income growth for Xinyuan. We have a sound balance sheet, sufficient capital and access to capital for the development of all of our projects including our most recent land parcels acquired in the fourth quarter. We continue to seek attractive land acquisitions and to maximize shareholder returns. With a highly diversified project pipeline and strong balance sheet, we remain highly confident in our strategy to offer affordable developments in Tier II & III cities.

BEIJING, December 27, 2011 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II and Tier III cities in China, today announced that it has acquired a parcel of land in Xuzhou, east China's Jiangsu Province. Xinyuan paid a total of RMB235 million (approximately US$37 million) for the land use rights for the parcel, which is located in Xuzhou and offers a total site area of approximately 45,000 square meters. The Company intends to develop high rise residential apartments for a total estimated gross floor area ("GFA") of approximately 119,000 square meters. The average apartment unit size will range between 70-130 square meters.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer said, "Xuzhou is an important transportation hub city in Jiangsu province as it is ideally situated between the eastern coastal, middle, and west development areas of China. Our newly acquired land parcel is adjacent to Xuzhou Xinyuan Colorful Garden, our first project in Xuzhou. Our first project in Xuzhou experienced a strong return on investment and we believe our newest land acquisition in the region can be as successful as our first project."

Third Quarter 2011 Results

Total third quarter revenues were US$213.3 million, a 98.2% increase from US$107.6 million reported in the third quarter of 2010, and 16.7% increase from US$182.7 million recorded in the second quarter of 2011.

Diluted net earnings per share attributable to ordinary shareholders were US$0.21, equivalent to US$0.42 per American Depositary Share ("ADS"), compared to diluted net earnings per share of US$0.05, equivalent to US$0.10 per ADS, in the third quarter of 2010 and US$0.20, equivalent to US$0.40 per ADS, in the second quarter of 2011.

Our property development business is capital intensive. To date, we have funded our operations primarily through bank borrowings, shareholder loans, proceeds from sales and pre-sales of our properties and proceeds from issuance of equity and debt securities. We obtain commercial bank financing for our projects through credit lines extended on a case-by-case basis. Our ability to secure sufficient financing for land use rights acquisition and property development and repayment of our existing onshore and offshore debt obligations depends on a number of factors that are beyond our control, including lenders’ perceptions of our creditworthiness, market conditions in the capital markets, investors’ perception of our securities, the PRC economy and PRC government regulations that affect the availability and cost of financing for real estate companies or property purchasers.

The source of our capital expenditures is primarily the cash flow generated from operating activities.

BEIJING, May 26, 2011 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II & III cities in China, announced today that its Board of Directors has declared a cash dividend of US$0.05 per common share, or US$0.10 per American Depositary Share (ADS), payable on June 20, 2011 to shareholders of record on June 10, 2011.

Xinyuan also announced that its Board of Directors has approved a share repurchase program under which the Company may spend up to US$10 million to repurchase common shares, either in the form of common shares or American Depositary Shares in the open market or in privately negotiated transactions over the next 12 months at the discretion of management.

The shares will be purchased from time to time at such prices, and in such manner as are authorized by management depending upon market conditions. Under the program, the purchases will be funded from available working capital. There is no guarantee as to the exact number of shares that Xinyuan may repurchase and Xinyuan may discontinue purchases at any time that management determines additional purchases are not warranted.  As of May 25, 2011, Xinyuan had approximately 153 million common shares, or 76.5 million ADSs, outstanding.  

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "These actions reflect our confidence in the future financial performance of our business and the prospects of China's real estate industry.  For the past several years, our key priorities for using our cash were to invest in our development projects. We have made significant progress on these efforts, and they will continue to be a focus. However, given the weakness in our share price, we believe accelerating the repurchase of shares and the implementation of a dividend is a highly appropriate use of cash at this time. We are pleased to maximize value for our shareholders through these initiatives. We believe the company remains well positioned for future development, and will have a strong growth and solid profits this year."

Rodman and Renshaw on XIN                                  5/26/2011

Ah, Dividend and Buyback!

Dividend and Buyback Announced

Xinyuan Real Estate (“Xinyuan”, NYSE: XIN, Market Outperform) announced today that its Board has declared a cash dividend of $0.10 per ADS, payable on June 20, 2011 to shareholders of record on June 10, 2011. The company also announced a share repurchase program to buy back UP TO $10 million of stocks over the next 12 months.

Our Take

We certainly view this as a positive development as we believe it is a shareholder-friendly gesture from the management. Based on our communication with the company, the dividend should be a recurring annual event, which can provide shareholders with a stable cash income stream going forward. The share buyback program, though somewhat open-ended, does suggest the management is sensitive to the share price and is trying to be proactive. At the currently depressed share price levels, (the stock closed below $2 yesterday), such a move is certainly comforting.

That being said, we believe the current investor apathy towards publically-traded Chinese real estate developers in the U.S. has much more to do with the Chinese macro policy overhang on the entire sector than with individual companies’ financial performance. In this regard, we do not expect any U.S.-traded Chinese real estate developers, including Xinyuan, will see sustained share price appreciation unless there are clear signals of policy easing from the Chinese government. Thus we believe it is also important for the company management to prudently manage its cash and save sufficient “dry powder” for its future development projects.

Maintaining Market Outperform Rating and $6 Price Target

We are maintaining our Market Outperform rating and $6 price target on the shares of Xinyuan. Our $6 price target is based on the shares trading at 6x our 2011 Non-GAAP EPADS estimate of $0.97.

Risks

Major risks include: 1) Government regulatory policy risk; 2) Land cost risk; 3) Financing availability; 4) Increasing competition; 5) Ability for geographic expansion; 6) Execution risks; and 7) Country risks related to operating and investing in China.

Notice Regarding Privacy and Confidentiality:


This material has been prepared for informational purposes only. While it is based on information generally available to the public from sources we believe to be reliable, no representation is made that the subject information is accurate or complete. Past performance is not a guarantee nor does it necessarily serve as an indicator of future results. Price and availability are subject to change without notice. Additional information is available upon request.

Since Rodman & Renshaw, LLC is not a tax advisor, transactions requiring tax consideration should be reviewed carefully with your tax advisor. Similarly, Rodman & Renshaw, LLC is not a law firm and provides no legal opinions or legal advice.

Rodman & Renshaw, LLC may make a market in the securities being discussed.

Rodman & Renshaw, LLC and/or its officers or employees may have positions in any of the securities of this (these) issuer(s).

Member FINRA.
Member SIPC.

Rodman and Renshaw on XIN                            5/16/2011

1Q11 Update: Below Expectation Quarter; Lowering Price Target to $6

1Q11 Results

After delivering company record-setting results in 4Q10, Xinyuan Real Estate (“Xinyuan”, NYSE: XIN, Market Outperform) announced 1Q11 results that mostly missed our expectations. Total revenue decreased 17% YoY to $91.8 million, missing not only our estimate of $121.5 million, but also the company’s own guidance of $120 million announced in late February. Actual contract sales of $98.0 million were down 32% YoY and below the company’s guidance of $115 million. GFA sales were 81,600 square meters (sqm) in the quarter, down 36% YoY. ASP in the quarter was RMB7,908, compared to RMB7,584 in the last quarter and RMB7,713 a year ago. As perhaps the most positive result from the last quarter, gross margin came in at 27.3%, up about five percentage points from 22.3% a year ago and also higher than our expectation of 24.0%. SG&A also came in below our estimate. The actual figure of $7.4 million was significantly below our estimate of $9.7 million. Because of lower than expected expenses and higher than expected margins, adjusted net income in 1Q11 was $11.6 million, translating to $0.16 EPADS, only moderately below our respective estimates of $13.0 million and $0.17.

At the end of March, Xinyuan had $348.6 million in cash and cash equivalents (including restricted cash), against $323.5 million of total debt. Property under development was $669.1 million in 1Q11.

Updated Guidance

Xinyuan provided its updated F2Q11 and FY2011 guidance. For F2Q11, the company expects to realize $155-$160 million of contract sales, $140-$150 million of revenue, and net income exceeding $20 million. For full year 2011, the company expected to achieve contact sales of $650-$675 million, revenue of $625-$650 million, and net income of $75 million.

Maintaining Market Outperform Rating but lowering Price Target to $6

We are maintaining our Market Outperform rating on the shares of Xinyuan, but tweaking our price target to $6 from the previous target of $7. In the current multiple compression environment for Chinese small cap and real estate companies, we believe it is prudent to take a bit more conservative approach to our valuation. Our new $6 price target is based on the shares trading at 6x our 2011 Non-GAAP EPADS estimate of $0.97.

Risks

Major risks include: 1) Government regulatory policy risk; 2) Land cost risk; 3) Financing availability; 4) Increasing competition; 5) Ability for geographic expansion; 6) Execution risks; and 7) Country risks related to operating and investing in China.


Notice Regarding Privacy and Confidentiality:

Rodman & Renshaw, LLC reserves the right to monitor and review the content of all e-mail communications sent and/or received by its employees.

This material has been prepared for informational purposes only. While it is based on information generally available to the public from sources we believe to be reliable, no representation is made that the subject information is accurate or complete. Past performance is not a guarantee nor does it necessarily serve as an indicator of future results. Price and availability are subject to change without notice. Additional information is available upon request.

Since Rodman & Renshaw, LLC is not a tax advisor, transactions requiring tax consideration should be reviewed carefully with your tax advisor. Similarly, Rodman & Renshaw, LLC is not a law firm and provides no legal opinions or legal advice.

Rodman & Renshaw, LLC may make a market in the securities being discussed.

Rodman & Renshaw, LLC and/or its officers or employees may have positions in any of the securities of this (these) issuer(s).

Member FINRA.
Member SIPC.

First Quarter Results:

• First quarter results were impacted by additional restrictive government policies issued in the quarter to curb speculation. Full year outlook remains strong with healthy sales growth and solid profits.
• Total first quarter revenues were US$91.8 million, a 17% decrease from US$110.7 million reported in the first quarter of 2010, and 33% below the US$137.2 million recorded in the fourth quarter of 2010.
• Contract sales totaled US$98.0 million, a 32% decrease from US$143.4 million recorded in the first quarter of 2010, and 50% below the US$194.1 million recorded in the fourth quarter of 2010.
• Total gross floor area ("GFA") sales were 81,600 square meters, a 36% decrease from 126,900 square meters sold in the first quarter of 2010 and 53% below the 173,200 square meters sold in the fourth quarter of 2010.
• Selling, General, and Administrative ("SG&A") expenses decreased by US$0.5 million in absolute terms from the first quarter of 2010, but edged up as a percent of total revenue to 8.0% from 7.1% in the first quarter of 2010.
• Net income was US$11.7 million, a US$0.2 million decrease from US$11.9 million reported in the first quarter of 2010 and a US$9.9 million decrease from US$21.6 million in the fourth quarter of 2010.
• Diluted net earnings per share attributable to ordinary shareholders were US$0.08, equivalent to US$0.16 per American Depositary Share ("ADS"), compared to diluted net earnings per share of US$0.07, equivalent to US$0.14 per ADS in the first quarter of 2010.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer commented, "Our first quarter sales were below our expectations as buyers became increasingly cautious due to new government measures to further curb housing prices and speculation. At the end of January, the Beijing government issued purchase restrictions which prohibit local residents from having more than two dwellings. Purchase restrictions for non-local residents are stricter. During February, municipal governments also issued their specific purchase restrictions. This not only impacted individuals and families who were looking to buy second homes to upgrade their living condition, but also first time home buyers who are waiting to see if there will be additional restrictive policies that might impact their ability to purchase a home. Potential buyers are also looking for indications that prices in certain regions are likely to decline in the near future. While the new tightening measures are having a negative impact on our sales, we believe that, as was the case over the past year, consumers will eventually learn to cope with these new policies. We have seen some encouraging recovery signs since April."

In the second quarter of 2011 we expect a sequential contract sales increase over the first quarter of at least 55% to US$155 to US$160 million. Revenue under the percentage of completion method is expected to range between US$140 to US$150 million while net income should exceed US$20 million.

Rodman and Renshaw on XIN                                                     2/28/2011

It Is the Best of Times, It Is the Worst of Times

Amid the ever faster drum beats of tightening government policies, Xinyuan Real Estate (“Xinyuan”, NYSE: XIN, Market Outperform) delivered strong F4Q10 results that largely surpassed Street and our expectations. Total revenue grew 27.5% YoY to $137.2 million, beating our estimate of $126.5 million and Street’s consensus of $125.9 million. Contract sales reached $194.1 million, better than our expectation of $147.1 million. Both revenue and contract sales exceeded the company’s own guidance range. GFA sales were 173,200 square meters (sqm), higher than our estimate of 140,408 sqm. ASP in the quarter was RMB7,584, compared to RMB7,480 in the last quarter and RMB6,826 in F4Q09. Gross margin expanded 300bps from last quarter to 30.2%, much better than our expectation of 25.0%. Both gross profit and operating income reached record highs at $41.4 million and $32.2 million, respectively. Adjusted EPADS was $0.28, significantly higher than our estimate of $0.19 and Street consensus of $0.21. 

F4Q10 Highlights and Discussions 

Chengdu Splendid II and Xuzhou Colorful Garden drove strong sales: Xinyuan’s strong top line performance was mainly attributable to Chengdu Splendid II, which started sales in F2Q10 and was 29% sold in GFA during F4Q10, and Xuzhou Colorful Garden, which commenced sales in last quarter and was 42% sold in GFA. On the ASP front, every active project achieved sequential growth in the range of 1.3% (Kunshan International City Garden) to 8% (Chengdu Splendid II). Please note that in F4Q10 Xinyuan recognized sales reversals of $26.9 million related to sales contracts for Kunshan International City Garden, which reduced revenue by $20.7 million in the quarter. It is also worth noting that the sales reversal only occurred to Kunshan project, since other projects of Xinyuan are primarily self-occupied by buyers thus securing mortgage is usually not an issue. 

Gross margin expansion aided by $5.5M government cost subsidy: In addition to higher ASP across the board driving margin expansion, Xinyuan revised project costs and sales estimates for certain projects that resulted in $7.8 million gross profits recognized in F4Q10. The largest contribution came from Zhengzhou Modern City, which received $5.5 million government cost subsidy in the quarter. Without the government subsidy, gross margin would have decreased to 26.2% and net income would have been reduced by approximately $0.9 million. We do not think the government cost subsidy will be sustainable, as such we expect gross margin in the next quarters will come down from the level in 4Q10. 

Five new projects to launch in 2Q11: Xinyuan’s project pipeline remains solid. Five new projects with total GFA of 1,112.9 sqm have been scheduled for pre-sales in 2Q11. Combining with the current active projects, Xinyuan will have total unsold GFA of 1,733.6 sqm, which should support the top-line in 2011.

Notice Regarding Privacy and Confidentiality: 

This material has been prepared for informational purposes only. While it is based on information generally available to the public from sources we believe to be reliable, no representation is made that the subject information is accurate or complete. Past performance is not a guarantee nor does it necessarily serve as an indicator of future results. Price and availability are subject to change without notice. Additional information is available upon request.

Since Rodman & Renshaw, LLC is not a tax advisor, transactions requiring tax consideration should be reviewed carefully with your tax advisor. Similarly, Rodman & Renshaw, LLC is not a law firm and provides no legal opinions or legal advice.

Rodman & Renshaw, LLC may make a market in the securities being discussed.

Rodman & Renshaw, LLC and/or its officers or employees may have positions in any of the securities of this (these) issuer(s).

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Member SIPC.

For the quarter ended December 31, 2010:

• The Company's total revenue using the percentage of completion method was US$137.2 million compared to US$107.6 million in the quarter ended September 30, 2010 and US$189.1 million in the fourth quarter of 2009.
• Gross profit for the fourth quarter of 2010 was US$41.4 million, or 30.2% of revenue, compared to gross profit of US$29.3 million, or 27.2% of revenue, in the third quarter of 2010 and a gross profit of US$41.2 million, or 21.8% of revenue, in the fourth quarter of 2009.
• Net income for the fourth quarter of 2010 was US$21.6 million compared to US$8.0 million in the third quarter of 2010 and a net income of US$25.4 million for the same period in 2009.
• Diluted earnings per share for the fourth quarter of 2010 was US$0.14, equivalent to US$0.28 per ADS, compared to US$0.05, equivalent to US$0.10 per ADS, in the third quarter of 2010 and diluted earnings per share of US$0.16 per share, equivalent to US$0.32 per ADS for the same period in 2009.

After a strong fourth quarter of 2010, GFA sales are expected to experience a sharp seasonal sequential decrease to approximately 95,000 square meters due to the Chinese Traditional New Year in the first quarter of 2011. Contract sales are expected to reach approximately US$115 million with average selling prices advancing selectively in first quarter of 2011.

• First quarter 2011 revenue using the percentage of completion method is expected to total around US$120 million and net income is expected to be around US$13 million.
• For the year the Company believes that with 12 concurrent active projects from the second quarter onwards it will achieve contract sales growth of more than 20% reaching approximately US$710 million in 2011 over 2010's total of US$588.3 million.
• Revenue under the percentage of completion method is expected to grow by 40% reaching approximately US$650 million for the year, as accelerated construction spending and higher percent completions will lead to higher revenue recognition under the percentage of completion method of accounting.
• Net income is expected to grow more than 45% reaching approximately US$75 million as gross margin improves year-on-year and operating expenses grow less than revenue.

 "We are pleased to report our best quarter of 2010 with GFA sold, contract sales, revenue, and net income all exceeding our guidance. Gross profit and operating income both set new quarter records despite more rounds of government real estate policy tightening issued in September 2010 and January 2011. Our three major projects introduced in 2010 in Zhengzhou, Xuzhou and Chengdu have switched into full gear and contributed approximately 80% of GFA sold in the fourth quarter. Average selling price ("ASP") of all the seven current active projects increased in the range of 1.3% to 8.0%. We also completed the share transfer of Jiantou Xinyuan in November which added approximately 200,000 square meters of sellable GFA to our land bank." said Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer.

Rodman & Renshaw on XIN

3Q10 results mixed 

During a quarter in which the government continued to implement new policies aimed at cooling down residential real estate prices in China, Xinyuan delivered a quarterly performance that beat our top line estimate but missed our bottom line expectation. Revenue for the quarter was $107.6 million, down 16.1% YoY and above our expectation of $98.1 million as well as $100.2 million Street consensus. Contract sales totaled $151.0 million, down 5.0% YoY but 55.7% higher than the previous quarter. Total GFA sales were 137,500 square meters, down 25.5% YoY but 59.5% higher than 2Q10. ASP saw a bit of softness during 3Q10, registering RMB7,480 ($1,099) per square meter, down from RMB7,683 ($1,126) during the last quarter. GAAP net income for the quarter was $8.0 million, below our estimate of $9.8 million. Diluted GAAP EPADS was $0.10, below our estimate of $0.12. Non-GAAP EPADS was $0.10, below both Street consensus and our estimates of $0.14. At the end of the quarter, Xinyuan had $263.5 million of cash and cash equivalent, relative to a total debt amount of $342.3 million. Real estate property under development was $646.9 million. 

4Q10 guidance 

The company also provided 4Q10 guidance: GFA sales are expected to be between 130,000 and 140,000 square meter. Contract sales are expected to reach between $140 million and $150 million. Revenue is forecasted to be in the range of $125 million to $130 million, and net income is likely to be $13 - $16 million. 

Our take 

We are by and large satisfied with the performance considering the uncertain policy environment during the quarter. The Kunshan sales reversal notwithstanding, we believe the above-expectation quarterly revenue continued to reflect the company’s strong sales efforts. The bottom line, on the other hand, was negatively impacted by higher income tax on projects located in Jiangsu province (Kunshan, Suzhou, and Xuzhou) due to the elimination of land VAT waiver. Going forward, this will add 1.8% to the company’s effective tax rate. Looking forward to 4Q10, the company’s guidance was slightly higher than our previous estimates. Zhengzhou Modern City, Xuzhou Colorful Garden, and Chengdu Splendid projects should be the main strength contributors for the company in the quarter. We are optimistic about the company’s 2011 outlook. Xinyuan should have 5 projects launching pre-sales before the end of 1Q11. Its landbank is fully funded, and, with its newly acquired Jiantou JV, the company should have enough GFA for the entire year’s of developments. In addition, we believe Chinese real estate buyers are learning to live and cope with new government policies, which can breathe new life into the more expensive projects such as Kunshan and Suzhou.

Notice Regarding Privacy and Confidentiality:

This material has been prepared for informational purposes only. While it is based on information generally available to the public from sources we believe to be reliable, no representation is made that the subject information is accurate or complete. Past performance is not a guarantee nor does it necessarily serve as an indicator of future results. Price and availability are subject to change without notice. Additional information is available upon request.

Since Rodman & Renshaw, LLC is not a tax advisor, transactions requiring tax consideration should be reviewed carefully with your tax advisor. Similarly, Rodman & Renshaw, LLC is not a law firm and provides no legal opinions or legal advice.

Rodman & Renshaw, LLC may make a market in the securities being discussed.

Rodman & Renshaw, LLC and/or its officers or employees may have positions in any of the securities of this (these) issuer(s).

Member FINRA.
Member SIPC.