It looks like holders of XIN are mostly for short-term trading gains. The drop today shows that it has its own cycle of highs and lows that are nothing to do with its business results or future prospects. The Q3 report did not have any negative surprises other than their plan for aggressive expansion. Accordingly it spent more to hire 40% more employees and to advertise new housing sites. But instead of applauding its investment for future it got badly whacked. I do not know how well these short-termers have been doing with XIN, but I believe that XIN will do well long-term as all those investments eventually will turn into more profit.