switzerland has the highest personal income but the lowest home ownership. interesting.
They are XIN subsidiaries in each province. They have their own name, but has Xinyuan as part of their full name.
All NYSE listed ADRs are charged with custody fees, NASDAQ listed foreign companies are not charged. So don't buy NYSE ADRS which don't pay dividends.
His magic of toggling ball between hands is at work. Move ships (assets) to his own entity, leave empty shells to investors. Now share price is almost nothing, he start the cycle again: Buying shares cheap, wait for shipping cycle to turn, then sell ships back to DRYS.
China Vanke reported a fantastic year and stock shoot up accordingly. stock ticket 000002.sz.
In real estate, bigger is better, Vanke can maintain profit margin about 20% and grow about 30% annually.
XIN is stuck in 1/100 of the market value of Vanke and struggle to maintain the growth and profit.