BEIJING, July 27, 2016 /PRNewswire/ --Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that the Board of Directors has appointed Mr. Lizhou Zhang as the Company's new Chief Executive Officer and as a member of the Board of Directors, effective immediately. Mr. Xinqi Wang will no longer serve as Chief Executive Officer and as a member of the Board of Directors, effective immediately.
Mr. Zhang joins Xinyuan after working at Wanda Group, one of China's largest property enterprises, for nearly seven years with different positions. Since January 2014, Mr. Zhang served as General Manager at Wanda One UK Co., Ltd. From 2011 to 2013, Mr. Zhang worked as Assistant to the President of Wanda Group and General Manager of the Northern Project Management Center and Operation Center of Wanda Commercial Management Company. Prior to this role, Mr. Zhang served as General Manager at two different city companies of the Wanda Group. Mr. Zhang holds a Bachelor's degree in Construction Management from Chongqing University, and a Master's degree in Monetary Banking from Dongbei University of Finance and Economics.
Mr. Yong Zhang, Chairman of Xinyuan, commented, "I am pleased to welcome Mr. Lizhou Zhang, who brings more than fifteen years of leadership experience in the real estate sector, with a track record in leading businesses. We look forward to working with Lizhou, leveraging his experience and capabilities as we continue to scale our operations in China and overseas. On behalf of the Company, I would like to thank Mr. Xinqi Wang for his contributions to Xinyuan over the past three years and we wish him well in his future endeavors."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and recently in other countries. In China, the Company develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi'an, Suzhou, among others. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. The Company aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements". These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements includes statements about estimated financial performance, sales performance and activity, among others and can generally be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical statements are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter into new geographic markets and expand our operations into new operational areas/activities; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws, regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; fluctuations in general economic and business conditions in the markets in which we operate; and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2015. Except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statement is made.
For more information, please contact:
In China:
Xinyuan Real Estate Co., Ltd.
Ms. May Shen
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
ICR, LLC
William Zima
In U.S.: +1-646-308-1472
In China: +86 (10) 6583-7511
Email: William.zima@icrinc.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/xinyuan-real-estate-co-ltd-announces-management-change-300304658.html
