XIN has a big Jinan project to start pre-sale in Q3....article on IV.....
10 July..... The eastern Chinese city of Jinan on Thursday became the latest region to lift home purchase restrictions and bring some light to the gloomy property market.....
......"As long as you have enough money, you can buy as many apartments as you wish," real estate agent Zhang Di told Xinhua.
Over the past couple of months, more than 10 cities nationwide have lifted or eased bans on ownership of more than one home, imposed in early 2011 to cool the market.
Wanda Group will invest US$900 million in a five-star hotel and apartment complex in Chicago...
The project will be the city's third tallest building with a height of 350 metres
It will be a mixed-use development consisting of a 240-room "super five-star" hotel, residential units and commercial space
"The Chicago project is just the first step of Wanda's property investment in the United States," Wang said in the statement, adding that the company would invest in five-star hotels in major US cities including New York, Los Angeles and San Francisco "within a year".
I don't think XIN will raise the dividend until they feel it is in their interest and any dividend raise will not be 100%. XIN claims they will try to grow 30% per year for a number of years and you don't do that with a large dividend. My hope, and what will make me "happy", will be significant share buybacks.....but Zhang/TPG don't care if I am "happy".....they will continue with their game plan.
XIN has been a great investment for me. My next sales will be shares bought around $1.80/share. XIN is not trying to make long term holders "happy"......XIN is controlled by two long term holders who will decide when they will increase the dividend and if and when they might list in Hong Kong. If I am "unhappy" with any investment, I sell and move on to something else. What could my "happiness" have anything to do with what XIN is likely to do in the future?
Paying a bigger dividend doesn't make sense to me if XIN is buying back shares or investing their equity in high return projects....even if doing so would make me profits in the short term and 'happy".
XIN has a 35% owner and a 8%-20% owner. They are long term investors and have no incentive to double the dividend, declare a special dividend, or list on another exchange at this time.....IMHO. They are in control of XIN and other shareholders are along for the ride. If you don't understand this or don't like it.....you should look for a company where you have some voice in how it is run.
You did not post an article which said "pre-sales are not allowed
in NY state".......you posted an article which said " New York State law does not allow a sponsor to receive proceeds prior to closing."
Why the constant BBS?
Why the constant BBS?
I wish you had had a monkey too...perhaps he would have taught you a few things by now? LOL!
Zhang still owns 40% of XIN and he will make sure management under him leaves plenty of profits for equity holders. 429 will make $60-$80 million in profits which will be booked in 2016. The only one who will not make a profit will be you....same as it always was.
XIN is not the same company I invested in.......they are now a growth company as well as an asset value company.
I think you are making progress! First comes Feburary, then May, then June....which is before July. LOL!
The $165 million loan plus $85 million equity from XIN equals the $250 million total cost of the project...which is a cash flow aspect of the project....and NY law and full accrual accounting a reason why "earnings" come in 2016.
Perhaps if Halsted gets enough calls from XIN investors.....they will complain to XIN about having to do much of XIN's Investor Relations work. LOL!
Loan from ICBC
Due November 2, 2013 at 6.15% per annum**** 7,954,817 -
Due October 18, 2013 at 6.15% per annum**** 33,092,037 -
Due November 1, 2013 at 7.38% per annum**** 15,591,440 -
Due November 1, 2013 at 7.68% per annum**** 7,954,817 -
Due September 21, 2013 at 7.68% per annum**** 4,772,890 -
Due August 21, 2013 at 7.68% per annum**** 7,954,817 -
Due July 20, 2016 at 6.46% per annum***** - 14,761,600
Loan from Agricultural Bank of China (Singapore)
Due July 12, 2014, at 2.40% plus LIBOR* 15,000,000 15,000,000
Due September 10, 2014, at 2.00% plus LIBOR* 10,000,000 10,000,000
Loan from ICBC (Thai) Public Company Limited
Due November 29, 2014, at 2.10% plus LIBOR** 10,000,000 10,000,000
Loan from Agricultural Bank of China
Due April 23, 2013, at 5.84% per annum**** 13,364,092 -
Due May 5, 2013, at 6.15% per annum**** 12,886,803 -
Due May 19, 2013, at 5.84% per annum**** 12,091,321 -
Due December 20, 2014, at 6.77% per annum - 4,920,533
Due April 30, 2015, at 6.77% per annum***** - 8,200,889
Due May 30, 2015, at 6.77% per annum***** - 6,560,711
Due June 30, 2015, at 6.77% per annum***** - 16,401,778
Loan from China Guangfa Bank
Due June 20, 2015, at 7.07% per annum***** - 57,406,223
Not sure what you mean by another loan for the NY property...as it is the only one I know about. XIN is a real estate development company and gets construction loans all the time for their projects....the loans are listed in their 20-F. I don't recall XIN ever releasing news about construction loans before....but you can notify the SEC and they will file your complaint in the round file....the one in the corner that is full of Shelly's complaints.
No hyperbole in the recent articles about XIN's new Suzhou project pre-sales....even if most of the glut in Suzhou is office space.
“Heaven above, and Suzhou and Hangzhou below,” goes an old Chinese saying, one that helps draw tourists to marvel at the former’s gardens and the latter’s West Lake.
But it appears that these two cities have recently lost some of their charm among real estate investors, due to a supply glut of office buildings and apartments.
According to a ranking of investment prospects of 36 of China’s largest cities by the Urban Land Institute, a nonprofit research organization, Suzhou in Jiangsu province fell to seventh place this year from second place last year.
Of the 4 projects entering pre-sales in Q2, the two in Zhengzhou seem to be big hits. New York and Suzhou are still a mystery to me. New York is not a concern of mine....I consider it "in the bag" Recent news on the Suzhou project.....but will take me some time to translate "Google Translation" to English I understand.
.The Jinan project, scheduled to start pre-sales in Q3 is a massive project.....it will be interesting to see how that one sells.
You would think XIN English translations would be a big plus for investor relations.
I notice the XIN web site now has a slightly better translated article....possibly published by XIN themselves. The Soufun article is on IV....with good photos of the event.
Xin Yuan Xin home June 21 grand opening, led by Zheng Nan major real estate, reproduce panic room frenzy! 3 hours Adversity fresh off three one hundred million! · Xin Xin Yuan home from 6300 yuan / ㎡ price, once launched, instantly detonated buyers frayed nerves!Many prospective owners a much-anticipated home Xin Xin Yuan · foreign sales. The opening Xin Yuan Xin family expectations, was a complete success!
World Cup this June Bi Sangba more fiery, only June 21 · Xin Xin Yuan home first phase grand opening! Marketing centers crowded with "thousands of panic room" to describe not too!Thanksgiving gift dumping site offered throughout the city: not only enjoy the opening day of the purchase price, more Chevrolet cars and other lucky gift sent, there is room car owners step across home! · Xin Xin Yuan home twenty-seven new nuclear · fine living model, the first launch of 75-115 m Smart apartment, opening three hours fresh off 300 million, to the rate of 95%, breaking Zheng opened to the south of speed records, creating Zheng South property legend!
" Matthew Larson - Morgan Stanley
.... And by the way raise your dividend, have bought back shares over the years you put focus such as Anthony Walton on the Board, people who I would assume to advantage your company and then finally the TPG involvement. You pretty much done everything you can in my mind, the only thing that should follow ironically is the stock price, it went up for quite a while and then it’s given back. I know that developers are under pressure in China but the irony is you done I think everything you could do within reason and as investors were hoping to see higher stock prices but that hopefully will come in the future. Thanks so much."
Why the continual I.D.I.O.T.I.C BBS? There were two Morgan Stanley analysts last call and the new one asked two accounting type questions and got good answers from Helen Zhang which seemed to fully answer his questions and the call moved on to other questions. Since you are an accounting expert.....why don't you tell us what was wrong with Zhang's answers?