Xinyuan Real Estate 4Q18 Earnings Preview

Guidance is for record high 4Q18 contract sales of US$1,158mm and EPS of about $1/ADS Property Management business is poised for rapid growth "Technology Town" developments could enhance the company's long-term growth and margins Leverage must decrease - XIN bonds are yielding 20% and US$296mm must be repaid/refinanced in August 2019 Land acquisitions may have … Continue reading Xinyuan Real Estate 4Q18 Earnings Preview

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Xinyuan Real Estate 4Q18 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 2018 sales data for the country’s top 200 property developers (LINK).  Xinyuan China is shown at #82 with estimated full year sales of 29.51Bn RMB which implies 8.01Bn RMB in 4Q18. CRIC does not have access to any official company records and … Continue reading Xinyuan Real Estate 4Q18 Contract Sales Estimate from CRIC

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?

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

Three China Real Estate Bargains

China real estate developers have fallen far from their 52-week highs (LINK). Home prices in some major cities closely monitored by the government have begun rising and suggest an informal relaxation of housing market restrictions (LINK). Looser fiscal and monetary policy is boosting domestic consumption to offset the economic and psychological impact of US trade … Continue reading Three China Real Estate Bargains

Xinyuan Science & Technology Service (NEEQ:870929) Outstanding 1H18 Results

Xinyuan Science & Technology Service (XSTS), the property management subsidiary of Xinyuan Real Estate, filed its 1H18 Report (LINK).  Even though XSTS shares are not yet trading publicly, the NEEQ listing provides visibility into the rapid growth of Xinyuan’s recurring revenues and income from this business.  Highlights: The company’s NEEQ listing was approved on 3/15/17 … Continue reading Xinyuan Science & Technology Service (NEEQ:870929) Outstanding 1H18 Results

Xinyuan 2Q18 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 1H18 sales data for the country’s top 200 property developers (LINK).  Xinyuan China is shown at #77 with estimated sales of 13.34Bn RMB year-to-date which implies 7.30Bn RMB in 2Q18. CRIC does not have access to any official company records and compiles … Continue reading Xinyuan 2Q18 Contract Sales Estimate from CRIC

Xinyuan Science & Technology Service (NEEQ:870929) Outstanding 2017 Results

Xinyuan Science & Technology Service (XSTS), the property management subsidiary of Xinyuan Real Estate, filed its 2017 Annual Report (LINK).  Even though XSTS shares are not yet trading publicly, the NEEQ listing provides visibility into the rapid growth in Xinyuan's recurring revenues and income from this business.  Highlights: The company’s NEEQ listing was approved on … Continue reading Xinyuan Science & Technology Service (NEEQ:870929) Outstanding 2017 Results

Xinyuan 1Q18 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 1Q18 sales data for the country’s top 100 property developers (LINK).  Xinyuan China is shown at #69 with estimated sales of 6.04Bn RMB year-to-date. CRIC does not have access to any official company records and compiles its estimates from 3rd party sources … Continue reading Xinyuan 1Q18 Contract Sales Estimate from CRIC

Xinyuan Real Estate: Notes on 4Q Results

Highlights from Xinyuan’s recently reported 4Q17 results and Conference Call: China Contract Sales of $802mm, highest ever Only 5 more units sold at the Oosten Project in New York Book Value rose to approximately $15.34/ADS Leverage rose substantially.  Total assets increased by $2.2Bn in 2017 while equity increased by just $0.1Bn.  Landbank increased to 4.9mm sqm in 2017 … Continue reading Xinyuan Real Estate: Notes on 4Q Results