Clean Audit - No Qualifications on Opinion!!! -- info below
another year, another clean audit:
"...In our opinion, Xinyuan Real Estate Co, Ltd. and subsidiaries maintained, in all material respects, effective internal control over financial reporting as of December 31, 2011, based on the COSO criteria. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Xinyuan Real Estate Co., Ltd and its subsidiaries as of December 31, 2010 and 2011 and the related consolidated statements of operations, changes in shareholders’ equity, and cash flows for each of the three years in the period ended December 31, 2011 of Xinyuan Real Estate Co., Ltd and its subsidiaries and our report dated April 16, 2012 expressed an unqualified opinion thereon."
/s/ Ernst & Young Hua Ming Beijing, People’s Republic of China
Shelly's bearish view on XIN got me into XIN starting at $1.7 level. I think I will hold (buy more at dips) my XIN shares as long as Shelly stay bearish. Why not go against someone who is wrong so often for so long? Nothing personal. We all just want to make some money in stock market.
I guess I will hold XIN for a while since there is no indication Shelly will change anytime soon.
How about when XIN tops $16??? I guess that will be the time when Shelly will say "strong buy" on XIN.