the interest pay ment is about 50 million us dollar a year. Folks on this board claimed XIN could borrow 70% of the land value from Chinese banks.
Also, in china, the housing is prepaid, so why do they need 500 million US dollar in additiona 600 million cash on the balance sheet?
XIN has to put up 45% of a project's total cost with cash to get the "65% of land value" loan from a Chinese bank. It takes a year for a project to turn cash flow positive from pre-sales.