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

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

Xinyuan 1Q17 Results and Signals of a Strong Year

Key information from Xinyuan results and recent developments Xinyuan 1Q17 sales were above guidance and the company hinted that it expects a 42% increase in contract sales for the full year. Net Value delivered for shareholders in 1Q17 through book value increase + dividend of $0.38/share Strong financial condition and prudent approach to land acquisitions … Continue reading Xinyuan 1Q17 Results and Signals of a Strong Year

Xinyuan Science & Technology Service (NEEQ:870929) 2016 Results

Xinyuan Science & Technology Service (STS), the property management subsidiary of Xinyuan Real Estate, filed its 2016 Annual Report (LINK).  Highlights: The company's NEEQ listing was approved on 3/15/17 (LINK), but the ownership structure shows that no shares are yet publicly held: Combining Xinyuan STS year-end results with valuation ranges of Hong Kong listed competitors … Continue reading Xinyuan Science & Technology Service (NEEQ:870929) 2016 Results

Xinyuan Real Estate: Improving Profitability Not Reflected in Falling Share Price

A year of excellent progress in operating performance and delivery of value to shareholders has not been fairly reflected in Xinyuan's share price which sits near a 52 week low. Improving profitability removes justification for a lower valuation than Hong Kong listed peers whose share prices have risen sharply. Xinyuan's average gross margin on projects … Continue reading Xinyuan Real Estate: Improving Profitability Not Reflected in Falling Share Price

Xinyuan 1Q17 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 1Q17 sales data for the country’s top 100 property developers (LINK).  Xinyuan China is shown at #72 with estimated attributable sales of 4.49Bn RMB for the quarter. CRIC does not have access to any official company records and compiles its estimates from … Continue reading Xinyuan 1Q17 Contract Sales Estimate from CRIC

Xinyuan 4Q16 Contract Sales Estimate from CRIC

China Real Estate Information Corporation (CRIC – a subsidiary of E-House) released estimated 4Q16 sales data for the country’s top 200 property developers (LINK).  Xinyuan China is shown at #77 with estimated attributable sales of 19.07Bn RMB for the full year and 5.06Bn RMB for 4Q. CRIC does not have access to any official company … Continue reading Xinyuan 4Q16 Contract Sales Estimate from CRIC

November 2016 Housing Price Data in Markets of Selected Chinese Property Developers

China Index Academy (a research unit of Soufun) released its monthly report of new home prices in 100 top Chinese markets (LINK).  On a national basis average selling prices rose 0.9% for the month and 18.7% from one year ago. Approximately 23 Chinese cities have introduced measures to stabilize markets and slow price appreciation, primarily … Continue reading November 2016 Housing Price Data in Markets of Selected Chinese Property Developers

Recent News from Xinyuan Real Estate in the Context of its Market Valuation

Xinyuan continues to trade at a below average Price/Book ratio due to its below average profitability.  If the company achieves operational improvements that raise net profit margins into a normal 10-15% range then the shares have 50-100% appreciation potential.  Steps that Xinyuan could take to improve its profitability (from Benchmarking Xinyuan Real Estate after its rally): … Continue reading Recent News from Xinyuan Real Estate in the Context of its Market Valuation