xinyuan real estate co l-adr (XIN) Key Developments
Xinyuan Real Estate Co., Ltd. Appoints Manbo He as Chief Financial Officer
Jun 30 14
Xinyuan Real Estate Co., Ltd. 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 where he served as the group's chief operating officer since 2011.
Xinyuan Real Estate Co., Ltd. Declares Quarterly Dividend Payable on June 12, 2014
May 16 14
Xinyuan Real Estate Co., Ltd. announced that the Board of Directors of the company has approved the payment of a quarterly dividend of $0.05 per ADS payable on June 12, 2014 to shareholders of record as of May 30, 2014.
Xinyuan Real Estate Co., Ltd. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Second Quarter of 2014
May 16 14
Xinyuan Real Estate Co., Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported operating income of $35,094,000, income from operations before income taxes of $27,767,000, net income of $10,050,000, net income attributable to Xinyuan Real Estate Co., Ltd. shareholders of $10,050,000 or $0.12 diluted per share on total revenue of $226,412,000 against operating income of $43,305,000, income from operations before income taxes of $44,940,000, net income of $26,615,000, net income attributable to Xinyuan Real Estate Co., Ltd. shareholders of $26,615,000 or $0.37 diluted per share on total revenue of $169,429,000 for the same period a year ago. Book value was $11.85 per ADS as of March 31, 2014.
The company provides earnings guidance for the second quarter of 2014. The company expects contract sales in the second quarter of 2014 to reach approximately $277 million. Revenue is expected to total $230 million in the second quarter while net income is expected to reach $23 million which includes certain tax expense benefits to be realized in the second quarter.
Xinyuan Real Estate Seeks Acquisitions
May 16 14
Helen Zhang, Interim Chief Financial Officer of Xinyuan Real Estate Co., Ltd. (NYSE:XIN), said, “Going forward, we'll continue to be very selective and focused on profitability and unit economics when evaluating potential projects. Though debt level is expected to grow during our expansion, we'll be carefully managing our balance sheet and be prudent about new land acquisitions.”
Xinyuan Real Estate Co., Ltd. to Report Q1, 2014 Results on May 16, 2014
May 9 14
Xinyuan Real Estate Co., Ltd. announced that they will report Q1, 2014 results at 9:00 AM, China Standard Time on May 16, 2014