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Xinyuan Real Estate Co., Ltd. Message Board

  • nextbengraham nextbengraham Nov 11, 2012 12:32 PM Flag

    disturbing news (slip of the tongue)

    If you listen to the confrence call gurnee said in the q&a about 28.50 into the call he said with the slip of the tongue that both dividends were not paid for neither was the second buyback. Did anyone catch that also you can read it in the transcripts pleas let me know your thoughts.

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    • really simple from my read -- US company (XIN Sub) gets loan from China Company (XIN Sub) to buy property "back to back company loans" -- may include a few other subs --- it's about assets in China getting to the US -- when it is not yet doable "out the front door" - due to regulations.

      XIN - the umbrella, owner of all the subs has paid a dividend, done stock buybacks and bought US property -- the mechanics of Yuan assets to $ assets requires some of the elements gurnee discussed when asked the question.

    • Did you sell out your position and try to buy back the shares?

      Matthew Larson - Morgan Stanley

      Last question. The purchases that the company has made in the US, to me and I would assume other investors would give them a little more confidence that there are, there is money on the balance sheet because if you close on properties in the US the money has to be frankly spend here. On that note is it, I’ve understood it’s not necessarily easy to take money out of China into the US, but do you run into problems with that as far as looking at future purchases here in the United States?

      Tom Gurnee - CFO

      Yes, that’s a very good question because it’s a big factor here. We have too, if we want to deploy dollars, we deploy dollars for a few reasons, we pay dividends that’s dollar, we do buy closure dollars and we’re starting projects in the United States those are dollars. For the first two dividends and stock buybacks we’re kind of on our own, we’re going to have to pay those out of inter-company dividends, back-to-back loans.

      For the project themselves, so far we’ve just financed some with just inter company loans, but what we are applying to do is to make an outbound investment through MOFCOM and through SAFE to go right through the front door to apply to make an investment oversees as the Chinese government has been encouraging. And so, we’re in the process of making applications to replace those inter-company loans with direct investment from China.

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