You have to feel shameful when you lost the only analyst covering this stock, what did you do during the years as CFO too get those analysts who cover the Chinese developers to cover XIN? What did you do other than reading a prepared statement on the conference call where not a single analyst showed up? It is a shame, Mr. Gurnee, you collected a big fat check and did nothing for the company, yes, I know you read message board, and I want you to know that it's a shame to be someone like you. You are the major problem that people think XIN is a fraud, as long as you are still there doing nothing except collecting a check, people will still be very skeptical about XIN, and I'll keep writing to the CEO to tell him the truth. Mr. Gurnee, use your lazy legs, go out to communicate with analysts and investors, or wait to be replaced. Thank you for your attention.
cover fools ------ The stock was IPOd by Merrill and has a top 4 accounting firm.... Your Fraud talk is stupid here. The FRAUD scare of all the China stocks should not apply here . The stock has been undeserving destroyed and only adds to its undervalued PPS and being a catalyst. Lately an attack has weakened the stock rally some. This will be met with strong buys again.
Tom has done a great job on all accounts. He is the CFO not the CEO. The rough patch of 1Q13 and 2Q13 is the result of strategy. How exactly do you lay strategy at the feet of the CFO? What do you think the CEO is responsible for, sitting in a big office and firing people?
People, while you are still discussing about P/E, let's not forget that XIN is trading at a fraction of the book value, and it is still making money. Let's at least make it to the book value first before we even need to discuss anything related to P/E. The key here is for Gurnee to spend time to promote the stock to institutions and analysts to get people interested, in other words, unlocking the value itself should be able to push the stock over $10, beyond that, then we discuss about P/E or future.
So, let's not get distracted, either we need Gurnee to act or the CEO needs to replace him with someone who are qualified and motivated, unlike Gurnee.
ITS SI MPLE --------- The government stimulus and infrastructure goals require many local government to raise huge amounts of cash........ The best and easiest way is to sell property and build to sell houses. IT HAS and always will work, I look for this to take off again. The cycle will return as it is down to much. . Stimulus- The central government has approved 25 urban rail projects, 13 highway construction projects, 7 waterway projects, 9 waste water treatment plants and plans for energy conservation and carbon emissions. The total cost would be Rmb3.4 trillion ($537 billion) . Most of the local government revenue comes from local land sales, to developers, who then sell the houses and create a tax base. This adds to growth in housing for XIN and CHLN.
Tom told me personally last year 2013 earning won't be good due to real estate inventory. XIN wants to avoid substantial price risk related to real estate. That's a good strategy. Now, in Q3 the risk is much less, and XIN started to buy properties. Also, in the last year, many Chinese developers frighted to reduce their inventories. XIN should be proud of itself.
Stan, you were holdin' out on us? That's solid info: "Tom told me personally last year 2013 earning won't be good due to real estate inventory."
If you happen across any gems like that in the future -- for XIN or for anything else -- I'd consider it a favor if you could give a shout out and try to contact me. If a message board's too public, no problem, I'll leave an email address.
I'll do the same for you, that way we double our eyes and ears in our pursuit of profit.
Aside from that, Mr. Gurnee, the company is too timid on land acquisition, it has already shown up in the salable properties guided for the next few quarters. What's point of holding so much cash doing nothing at hand while you have no houses to sell in the next few quarters? It's a huge management judgement failure, and you are surely part of the problem. Without sustainable development plan, this company XIN will get no respect from the market. So, please, do some work, make some plans, don't just sit there on your #$%$ and do nothing.