Possibly the Long Convertibles are selling this down to reset their strike prices to lower levels ? And with a few years to go on these bonds we may see the 2's? It seems to be a good buy with the divy though, doesn't it?
Tell me what wall street has against this stock. Less than a year ago was looking at shares in the low 6's after a 20% "pullback" and now we are approaching the low 3's.
And why is such information that can materially affect the shareprice not released to US investors in English?
· Xin Yuan Ying Yang Cheng West held a groundbreaking ceremony masters two projects
At 10:18 on September 1, 2014, Ying Yang Cheng West. Xin Yuan masters officially started two projects and held a groundbreaking ceremony. Ying Yang Xinyuan Real Estate Co., Ltd. company full, the total package to build a bureau and supervision units Zhejiang seeking cooperation and other related units on behalf of more than eighty people attended the ceremony.
Ying Yang Xin Yuan, director of engineering, turnkey construction of a bureau in charge of the project who were delivered a warm speech, expressing the blessings of the smooth construction of the project, expressed sincere cooperation Participation by all parties, in accordance with established building construction of high-quality composite nodes Habitat determination communities. Finally, the sound of firecrackers, Wang Zhigang, general manager of the company announced the Ying Yang Ying Yang Cheng West. Xin Yuan masters two projects started.
Zheng Xin Yuan West · Famous Xingyang company for two projects under the follow-up work laid the foundation for the smooth development.
September 1, 2014, Xin Yuan · Century East Xiyuan project started delivery.
In the Group's strong support, with lower property company, general manager Zhu Zhenwei unified deployment, deputy Houguang Jun, Feng Nan line with class, repeatedly careful rehearsals, and maintain seamless connection with the surrounding administrative departments to ensure a smooth delivery.
The first day of the delivery of various departments, marketing, engineering, design, cost, infrastructure, financial, administrative and other related personnel in the field office, full cooperation. Targeted delivery of field staff, solidarity, information check, financial audits, inspection room, key distribution, logistics, emergency treatment, and other team staff to deliver their duties, their duties, the heart of the owner, delivered on-site flow smoothly and orderly.
Xin Yuan · Century East Xinyuan project plans to deliver 765 units, as of September 1, the actual delivery of 181 units, delivery ratio of 23.9% complete.
from Yahoo stats for XIN:
52-Week Change: -41.24%
S&P500 52-Week Change: 16.96%
Trading over 50% "behind" the S&P 500, or in other words the stock has to double from here to give the same return as an S&P500 index fund. That is what is called: "opportunity cost". Good job XIN management, you deserve a private jet and a helicopter.
As always, we won't hear anything until the next conference call. With Wall Street completely ignoring XIN this contributes to the continuous downward pressure on the stock despite management stating that Q4 earnings and 2015 will be better. Meanwhile, information about land purchases or pre-sales will probably be released in Chinese via the according China real estate information portals (by third parties).
It's good news....just like the gain in the Yuan the last 4 months is good news. Slower investment leads to lower construction costs and fewer units entering the market. Real estate investment may still be too high to have a rate cut, however.
------ National Bureau of Statistics data showed real estate investment rose 13.2% year on year in the first eight months of 2014 to 5.9 trillion yuan (US$959.44 billion)------
With inflation at 2% YOY in August, interest rate cuts could happen.....but most economists expect Premier Li to take a wait-and-see attitude for several months and not stimulate prematurely like China has done in the past.
China's economy got off to a weak start this year as first-quarter growth cooled to an 18-month low of 7.4 percent. Beijing responded with a flurry of stimulus measures that pushed the pace up slightly to 7.5 percent in the second quarter, but soft July and August data suggest the boost from those steps is rapidly waning.
"The government must take forceful policy measures to stabilize growth," said Li Huiyong, an analyst at Shenyin & Wanguo Securities in Shanghai.
Other activity indicators for August were also mostly weaker than expected.
Retail sales climbed 11.9 percent, lagging forecasts of 12.1 percent and July's 12.2 percent, with growth in car sales in particular off sharply, suggesting consumers are more cautious.
Carmaker BYD Co Ltd, backed by billionaire Warren Buffett, recently warned profit may fall by as much as a fifth in the first nine months of the year.
Fixed-asset investment, an important driver of economic activity, grew 16.5 percent in the first eight months from the same period last year, lower than forecasts. Economists polled by Reuters had expected 16.9 percent growth, slowing from 17.0 percent in Jan-July.
Much of the broader decline appears linked to the slowdown in the property market, which is intensifying.
Property investment data also released on Saturday showed further declines in sales and new construction, while growth in sales of housing-related goods such as home appliances, furniture and building materials all slowed.
Mortgage issuance in the first eight months fell 4.5 percent from a year earlier, worse than a 3.7 percent drop in January-July. Some would-be buyers have complained of long delays in getting loans as banks grow more cautious, while others may be holding off in anticipation of further price declines.
Data on Friday showed that credit levels in China appeared to improve in August after an alarming drop in July, but remained below average. Bad loans are on the rise and banks expect more to go sour as the economy slows.
That followed trade data that showed China's exports were buoyant but import growth unexpectedly fell for the second consecutive month in August, posting its worst performance in over a year.
STEADY EMPLOYMENT COULD TEMPER BEIJING'S RESPONSE
While most analysts expect Beijing to unveil more steps in coming months in order to meet its 2014 growth target, the room for policy loosening is seen as limited after past stimulus programs left local governments saddled with piles of debt and fueled rampant speculation, especially in the housing market.
Bolder action now, such as an interest rate cut, may only result in more money going into speculative and potentially destabilizing activity rather the real economy, some analysts have noted.
The last time China suffered a "hard landing" was during the height of the global crisis, when economic growth tumbled to 6.6 percent in early 2009. That is far short of the near collapses which loomed over some developed economies, but still threw tens of millions of Chinese out of work, alarming the Communist Party's stability-obsessed leaders into action.
Despite slower growth, the economy still created 9.7 million new jobs in the first eight months of 2014, a rise of over 100,000 from the same period last year, said Guo Tongxin, another statistician at the bureau, trying to play down the significance of the dismal August indicators.
"It's normal to see fluctuations in some indicators. Currently, the employment and price situation remains generally stable (and) structural adjustments continue to make progress," Guo said in a statement.
Premier Li Keqiang said on Monday that China cannot rely on loose credit to lift its economy, and reassured a business forum that Beijing would continue to roll out modest "targeted" measures as policymakers look to shore up growth.
Just with the dividend- 15.7% return increases to 16.3% return if the dividend is kept the same. Gain of $2.36 per share even at dropped share value.