Thanks anyway, GV. What I was hoping to find were Chinese real estate development companies that are approximately the same size as XIN because I want to compare XIN's cash/equivalents number to its peers, to see if it exhibits the fraud symptom of appearing to have "too much" cash.
If I could think of a proper ratio to use, then I wouldn't even need companies of similar size to XIN. With a ratio, I'd be free to use, say, the Top 20 Chinese RE Development companies, which I have in an article.
Forgive me if I've already asked you this once, but what are your views on using "cash, as a percentage of annual revenues" as a ratio?
I only recommend cash as a percentage of total assets by with some degree. Different firms may have different asset turnover. Some Chinese real estate companies are known for carrying high land bank rather than developing projects quickly.
My suggestion is not to rely on any single cash metric. Every ratio can be skewed by either the fundamental business strategy difference or accounting frauds. The key is to understand business strategy first. I know it is not easy, nor can it be done within a short period of time. What a heck, but this is the way to know something many other people do not know.
According the a 2011 ranking, XIN was listed as No. 113. Most peers within XIN's rank are either private companies or subsidiaries of multinational developers. But I do find one peer listed both in China mainland and Hang Kong. It is Beijing North Star Co. Ltd. You should be able to find its financial information through HKSE News.