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Xinyuan Real Estate Co., Ltd. Message Board

  • rchites rchites Nov 12, 2012 6:45 AM Flag

    Notes NOV 2012

    NOTES NOV CC- 2012- We acquired the land partial in Beijing and two USA development project in the third quarter improving our project pipeline. We plan to acquire more land parcels in China to strengthen our property portfolio anXinyuan’s third quarter financial results and additional achievements as well as join the catalyst, the future group. We are well positioned in a real estate market with healthy balance sheet, exception management team and well device strategy to perform well in the market.
    Our cash balance were slightly lower $608 million despite spending over a $196 million on new land in the third quarter. With five new China projects and three new US based projects coming online at 2013 along with a very strong cash balance to be deployed on additional projects. We’re excited about our growth prospects for the future.
    the company acquired two projects in the United States, the company paid $10 million to acquire 15 finished luxury condominium units in Irvin, California and acquired a 92,000 square foot parceled land in the Williamsburg neighborhood of Brooklyn, New York So, far just in the fourth quarter of 2012, we have signed three framework agreements we were very close on another and we have made two deposits against these framework agreements totaling $32 million. Final transactions are due to take place in Q1 and Q2 of 2013. In Summary, in the last 12 months we’ve spent cash of $331 million on land acquisitions and yet we maintained a cash balance of $609 million as of the end of the year, we’re very good shape going forward. For the full year 2012, contract sales are expected to be in the range of $790 million to $800 million and revenue under the percentage of completion method is expected to also range between $790 million to $800 million, while net income is expected to be in the range of $140 million to $143. GUIDING- The second quarter of 2013 should be up over the first quarter, Q3 and Q4 of 2013 should be exciting as four new projects in China come online bringing with them substantial sellable inventory. We are pleased to have distributed quarterly divided of 0.4 per ADS on October 30th 2012. And with the payout ratio of just 8%, there’s lots of headroom here for expansion of dividends in the future. During the third quarter, we purchased from the open market, $1.2 million ADS for total consideration of $3.2 million for an average purchase price of $2.5 cents per ADS.

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    • Has anyone seen the Xin metrics on yahoo finance today?? They give Xin market cap as $117m, with 35.9m shares outstanding. Have I missed something here?

    • XIN became a public company via an IPO listing in 2007, with Merrill Lynch being its lead underwriter. Its auditor is Ernest and Young, a Big Four auditor. XIN has used Ernest and Young from the very beginning, even prior to its IPO. It currently has a 6% dividend yield that is very attractive in a low yield environment. Short sellers have driven stock prices to absurd levels, because they think all US-listed China stocks are frauds.
      Xin looks to be one of the Solid companies in a lousy market. XIN is 1st company listed on NYSE . To do that you have to meet accounting standards .
      XIN's foothold in the US is a good sign for their future in my eyes, I see the US purchases in California and New York in part to "legitimize" their company in the eyes of investors and tenants. Chinese real estate market is in a correction mode and this is good for the industry long term. These bargains won’t last forever. Momentum and the trend will change- hot money will not eagerly pore in as before. Third quarter results –They met the revenue and profit guidance forecast. Demand has been improving our domestic projects The average selling price per square meter increased to percent our last quarter. Superior top and bottom line growth over the years Great fundamentals and a must buy at this PPS The companies great DIV and return is easy money tell the price appreciation in the PPS Yahoo has them with a 20$ book and PE under 2 dollars PRICE/Sales of .14 and Price/book .16
      The housing bubble in China is over, says Singapore based investment guru Jim Rogers in an article published in China Daily last week. The overheated Chinese housing market has cooled thanks to the government. Therefore, ladies and gentlemen, for the last time, there will be no hard landing in the Chinese economy. Time to make some money and find the values.

      • 1 Reply to rchites
      • “There has been a bubble in the Chinese property market which is now over,” he was quoted saying in an exclusive interview with the paper. “It’s always right to follow what the government does, so look at the Five-Year Plan (2011-15) to see where the government’s sympathy lies,” said Rogers. Those sympathies lie with new value added technologies like biotech, and building up the municipalities in the interior of China, and — more importantly — building China’s social safety net to help an aging population stay out of poverty. Sales of private homes nationwide totalled 3.88 trillion yuan in the first 10 months of the year, 6.6 per cent more than the same period a year earlier. In all, 700.92 million square metres of housing was sold during the period, down by 1.2 per cent. AN Analyst stated- he expected monthly sales volumes to stay at present levels. "The financial health of developers has improved and they will no longer cut prices on their new projects or rush to release those projects," he said. In the first 10 months, developers poured 3.97 trillion yuan into housing projects, an increase of 10.8 per cent.
        By comparison, investment in retail property surged 25.8 per cent to 745.8 billion yuan, and investment in office property was up 31.4 per cent to 266.6 billion yuan.
        Data also show that in the first 10 months of the year residential construction was down 12.7 per cent on the same time last year, amounting to 1,083.96 million square metres.
        But construction of retail space rose 6 per cent to 183.16 million square metres; and construction of office developments rose 7.1 per cent to 47.52 million square metres.
        • with rapid urbanization, the China residential property market in terms of GFA is anticipated to grow at a CAGR of around 13% during 2012-2015.
        • BEIJING | Mon Nov 12, 2012 4:25am EST
        • Nov 12 (Reuters) - China aims to start building at least 5 million units of public homes next year and has no plans to relax its purchase restrictions in the real estate market, its housing minister said on Monday.
        • Jiang Weixin told reporters at a briefing that China could start building as many as 6 million units of public homes next year.
        • Speaking on the sidelines of China's Communist Party congress at which new leaders will be chosen, he said the ministry is working on better distributing public homes to redress complaints that subsidised accommodation is sometimes handed out to well-heeled Chinese owing to corruption.

 
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