This Hong Kong & China real estate company generated a return for shareholders (NAV appreciation + dividends) of 845% from 12/31/03 to 6/30/17, an annual IRR of 18% Shares trade at a 58% discount to book value and the fair value of the company's assets is higher than book The company's real estate sales earn … Continue reading K Wah International: A Premier Value Compounder At a Bargain Price
Management buyout offers are made at a time chosen by insiders and when they may have valuable non-public information about a company's future potential. Shareholders in companies with currently pending buyout offers (such as China Automotive Systems and China XD Plastics) should consider that some past offers that did not close were followed by significant … Continue reading Performance of Chinese ADRs After Withdrawn Buyout Offers
Highlights from Xinyuan’s recently reported 2Q17 results and Conference Call: China contract sales of $598mm, second highest ever Poor sales at the Oosten Project in New York SG&A Expense was 10.6% of revenue Interest Expense dropped to $10.4mm, a normal level following the unusually high expense in 2Q17 Effective tax rate was 58% due to the non-deductible … Continue reading Xinyuan Real Estate: Notes on 3Q Results
Xinyuan will release earnings on Friday 11/10 (announcement and webcast link). This article covers some background information that may be of interest to investors: Notes on 1H17 financials What to look for in 3Q results Benchmark valuations Financial Notes (project costs, gross margins, interest, tax, and book value per share): Xinyuan released 2Q earnings in August … Continue reading Comments on Xinyuan Real Estate Ahead of 3Q17 Earnings
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