Xinyuan 3Q17 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 9M17 sales data for the country’s top 100 property developers (LINK).  Xinyuan China is shown at #75 with estimated sales of 15.8Bn RMB year-to-date, which means 6.56Bn RMB for 3Q. CRIC does not have access to any official company records and compiles … Continue reading Xinyuan 3Q17 Contract Sales Estimate from CRIC

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Mid-Year Letter from Ronnie Chan of Hang Lung Group

Hong Kong real estate tycoon Ronnie Chan of Hang Lung Group has a reputation for writing insightful shareholder letters.  His latest is available on pages 2-16 of his company’s 2017 Interim Report.  A bit of background about Hang Lung: Reputation for very long-term outlook.  The company completed its Harbourside luxury apartment tower in Hong Kong in 2004 and held … Continue reading Mid-Year Letter from Ronnie Chan of Hang Lung Group

August NBS Price Data in Leading Chinese Cities With Home Price Restrictions

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The report provides less coverage and less detail than the private Fang/Soufun 100 city index whose release has been suspended.  Increased government control over price data seems to be an intangible measure to cool speculation. The NBS report still provides some … Continue reading August NBS Price Data in Leading Chinese Cities With Home Price Restrictions

Xinyuan Real Estate: Record 2Q Sales Balanced by High Interest & Tax

Highlights from Xinyuan's recently reported 2Q17 results and Conference Call Record quarterly contract sales of $732mm SG&A expense declined to 9.9% of revenue (vs 11.4% for FY16) Unusually high interest expense of $20.2mm Effective tax rate of 56% Book Value rose to $14.13/ADS Conservative land acquisition budget of 5-7Bn RMB No full-year financial guidance Achieved … Continue reading Xinyuan Real Estate: Record 2Q Sales Balanced by High Interest & Tax

July NBS Price Data in Leading Chinese Cities With Home Price Restrictions

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The report provides less coverage and less detail than the private Fang/Soufun 100 city index whose release has been suspended.  Increased government control over price data seems to be an intangible measure to cool speculation. The NBS report still provides some … Continue reading July NBS Price Data in Leading Chinese Cities With Home Price Restrictions

June NBS Price Data in Leading Chinese Cities With Home Price Restrictions

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The report provides less coverage and less detail than the private Fang/Soufun 100 city index whose release has been suspended.  Increased government control over price data seems to be an intangible measure to cool speculation. The NBS report still provides some … Continue reading June NBS Price Data in Leading Chinese Cities With Home Price Restrictions

Xinyuan 2Q17 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 1H17 sales data for the country’s top 200 property developers (LINK).  Xinyuan China is shown at #79 with estimated sales of 9.24Bn RMB for the half, which means 4.75Bn RMB for 2Q. CRIC does not have access to any official company records … Continue reading Xinyuan 2Q17 Contract Sales Estimate from CRIC

Xinyuan Xi’an Land Purchase

Xinyuan Real Estate disclosed through a wechat post that it acquired a new plot for development in Xi'an.  Key terms: Price: Not disclosed. Buildable Floor Area: 310000 sqm Land Use rights: Commercial The land was acquired through a private transaction rather than a public auction and Xinyuan has not yet disclosed the price.  Apartments in the … Continue reading Xinyuan Xi’an Land Purchase

May NBS Price Data in Leading Chinese Cities With Home Price Restrictions

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK).  The report provides less coverage and less detail than the private Fang/Soufun 100 city index whose release has been suspended.  Increased government control over price data seems to be an intangible measure to cool speculation. The NBS report still provides … Continue reading May NBS Price Data in Leading Chinese Cities With Home Price Restrictions

Xinyuan Kunshan Land Purchase

Xinyuan Real Estate disclosed through a wechat post that it was the winning bidder in a court auction of a partially completed commercial project in Kunshan.  Key terms: Price: 754,331,700 RMB Buildable Floor area: 163,300 sqm Land Use Rights: Commercial My understanding is that Xinyuan plans to submit a new site plan to the local government … Continue reading Xinyuan Kunshan Land Purchase