Xinyuan Real Estate Update: Did you know about the 75Bn RMB investment plan?

Contract sales have been strong - unsold inventory is at a multi-year low Gross margins have been satisfactory - estimated 28% for projects under development 75Bn RMB (>$11Bn) Xinchuang Technology investment plan could transform the company. Leverage must decrease - ratings outlook is negative and XIN bonds are yielding 18% Property Management subsidiary is preparing … Continue reading Xinyuan Real Estate Update: Did you know about the 75Bn RMB investment plan?

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September 2018 NBS Price Data in Leading Chinese Cities

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The segregation of “15 Hot Cities” in the NBS report implies that they will be the primary focus of government policy: Intense market restrictions kept prices flat for many months in these key markets, but the average has been boosted  by … Continue reading September 2018 NBS Price Data in Leading Chinese Cities

Xinyuan 3Q18 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 9M18 sales data for the country’s top 100 property developers (LINK).  Xinyuan China is shown at #76 with estimated sales of 21.50Bn RMB year-to-date which implies 8.16Bn RMB in 3Q18. CRIC does not have access to any official company records and compiles … Continue reading Xinyuan 3Q18 Contract Sales Estimate from CRIC