Does Anyone Have a LINK to the Top 500 Chinese RE Development Co's List?
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.
From what I see, as of June 30, 2012, Beijing North Star's cash (cash equivalent) as a percentage of total asset ratio is only 8% while that in Xinyuan is 30%.
By the way, I suggest not to rely too much on cash as a percentage of annual revenue. The reason is a company typically overstates revenue and cash at the same time. Given XIN's revenue almost up 50% YoY when its peers' barely goes up , the chance of overstating revenue is high.