BEIJING, Nov. 10, 2017 /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 also in other countries, today announced its unaudited financial results for the third quarter ended September 30, 2017.
Third Quarter 2017 Highlights
Mr. Yong Zhang, Xinyuan's Chairman, stated, "Our third quarter results were generally in line with our expectations under the ongoing restrictive government policies impacting China's overall housing market. We achieved double-digit growth in contract sales compared to the same quarter last year, thanks to steady demand of our active projects. The increase in contract sales for the first nine months of 2017 also met our growth target.
During the third quarter, we were pleased to commence pre-sales of two new projects, Zhengzhou International New City II and Changsha Mulian Royal Palace, and we look forward to beginning pre-sales of two new projects in Zhengzhou in the fourth quarter. We have also been reasonably increasing our land bank during the year, which provides us with a good foundation for development and growth in the coming quarters.
Finally, we were pleased to continue our commitment to our shareholders by paying our 23rd consecutive quarterly dividend and repurchasing shares during the third quarter," concluded Mr. Zhang.
Third Quarter 2017 Financial Results
Contract Sales
Contract sales in China totaled US$597.5 million in the third quarter compared to US$525.4 million in the third quarter of 2016 and US$711.8 million in the second quarter of 2017. Total Contract sales in China for the first nine months of 2017 totaled US$1.6 billion, compared with US$1.3 billion for the same period last year.
The Company's gross floor area ("GFA") sales in China were 369,500 square meters in the third quarter of 2017 compared to 340,700 square meters in the third quarter of 2016 and 409,700 square meters in the second quarter of 2017. GFA sales in China for the first nine months of 2017 totaled 919,500 square meters, compared with 891,900 square meters for the same period last year.
The average selling price ("ASP") per square meter sold in China was RMB10,994 (US$1,616) in the third quarter of 2017 compared to RMB10,140 (US$1,542) in the third quarter of 2016 and RMB11,946 (US$1,739) in the second quarter of 2017. The slight decrease in ASP was mainly due to product mix containing affordable unit sales in the third quarter.
Contract sales in the United States totaled US$7.0 million in the third quarter of 2017.
The Company commenced pre-sales of two new projects in the third quarter of 2017, Changsha Mulian Royal Palace and Zhengzhou International New City II, which contributed 27.5% and 32.0% of total GFA sales and total contract sales, respectively.
Breakdown of GFA Sales and ASPs by Project in China
| Project |
Q3 2016 |
Q2 2017 |
Q3 2017 |
Unsold |
|||
| GFA |
ASP |
GFA |
ASP |
GFA |
ASP |
GFA |
|
| (m2, 000s) |
(RMB) |
(m2, 000s) |
(RMB) |
(m2, 000s) |
(RMB) |
(m2, 000s) |
|
| Xingyang Splendid II |
16.2 |
4,979 |
15.4 |
5,265 |
1.4 |
6,973 |
57.3 |
| Kunshan Royal Palace |
8.4 |
21,099 |
5.3 |
24,173 |
6.2 |
25,987 |
2.6 |
| Jinan Royal Palace |
28.2 |
7,501 |
13.2 |
10,508 |
29.7 |
12,457 |
136.8 |
| Xuzhou Colorful City |
3.6 |
11,182 |
2.8 |
13,385 |
0.6 |
11,138 |
46.5 |
| Chengdu Thriving Family |
31.9 |
6,703 |
6.0 |
19,194 |
10.2 |
15,061 |
45.9 |
| Changsha Xinyuan Splendid |
29.8 |
7,439 |
28.2 |
9,521 |
7.4 |
13,726 |
17.1 |
| Sanya Yazhou Bay No.1 |
-1.2 |
22,139 |
8.1 |
15,888 |
1.6 |
15,313 |
64.0 |
| Xi'an Metropolitan |
23.6 |
7,786 |
9.5 |
9,553 |
7.2 |
9,497 |
58.0 |
| Zhengzhou Xindo Park |
4.4 |
6,590 |
22.9 |
6,998 |
8.1 |
8,552 |
29.0 |
| Jinan Xin Central |
13.9 |
9,330 |
8.3 |
13,928 |
9.2 |
12,151 |
55.8 |
| Henan Xin Central I |
65.7 |
8,775 |
3.4 |
16,229 |
28.5 |
4,093 |
25.2 |
| Zhengzhou Fancy City I |
15.1 |
9,234 |
2.6 |
19,015 |
18.8 |
5,155 |
10.4 |
| Zhengzhou Fancy City II (South) |
37.9 |
9,613 |
7.6 |
12,649 |
2.9 |
13,995 |
10.4 |
| Tianjin Spring Royal Palace |
12.3 |
7,377 |
11.0 |
11,118 |
6.2 |
11,617 |
151.1 |
| Kunshan Xindo Park |
30.9 |
18,612 |
10.6 |
20,523 |
11.5 |
22,198 |
31.0 |
| Zhengzhou International New |
1.4 |
10,662 |
207.4 |
12,084 |
35.3 |
10,141 |
66.9 |
| Henan Xin Central II |
- |
- |
27.2 |
11,293 |
28.0 |
8,379 |
30.5 |
| Xingyang Splendid III |
- |
- |
15.5 |
6,981 |
47.4 |
7,217 |
58.4 |
| Changsha Mulian Royal Palace |
- |
- |
- |
- |
32.8 |
11,291 |
58.4 |
| Zhengzhou International New |
- |
- |
- |
- |
69.0 |
13,783 |
107.1 |
| Others |
18.6 |
- |
4.7 |
- |
7.5 |
- |
86.9 |
| Total |
340.7 |
10,140 |
409.7 |
11,946 |
369.5 |
10,994 |
1,149.3 |
Revenue
In the third quarter of 2017, the Company's total revenue increased 8.6% to US$482.4 million from US$444.3 million in the third quarter of 2016 and decreased 1.2% from US$488.2 million in the second quarter of 2017. Revenue for the first nine months of 2017 totaled US$1.3 billion compared with US$1.1 billion for the same period last year.
Gross Profit
Gross profit for the third quarter of 2017 was US$108.8 million, or 22.6% of revenue, compared to a gross profit of US$105.0 million, or 23.6% of revenue, in the third quarter of 2016 and a gross profit of US$107.9 million, or 22.1% of revenue, in the second quarter of 2017.
Selling, General and Administrative Expenses
SG&A expenses were US$51.0 million for the third quarter of 2017 compared to US$53.8 million for the third quarter of 2016 and US$47.9 million for the second quarter of 2017. As a percentage of total revenue, SG&A expenses were 10.6% compared to 12.1% in the third quarter of 2016 and 9.8% in the second quarter of 2017.
Net Income
Net income for the third quarter of 2017 was US$16.5 million compared to US$28.0 million for the third quarter of 2016 and US$20.8 million for the second quarter of 2017. Net margin was 3.4% compared to 6.3% in the third quarter of 2016 and 4.3% in the second quarter of 2017. Diluted earnings per ADS were US$0.22, compared to US$0.41 per ADS in the third quarter of 2016 and US$0.14 per ADS in the second quarter of 2017.
The Net Income this quarter was negatively impacted by a one-time US$13.0 million loss on extinguishment of debt incurred upon the Company's debt redemption in July 2017.
Balance Sheet
As of September 30, 2017, the Company's cash and cash equivalents (including restricted cash) decreased to US$1,187.2 million from US$1,275.1 million as of June 30, 2017. Total debt outstanding was US$2,492.4 million, which reflected a decrease of US$155.4 million compared to US$2,647.8 million at the end of the second quarter of 2017. The balance of the Company's real estate properties under development at the end of the third quarter of 2017 was US$2,080.5 million compared to US$2,135.2 million at the end of the second quarter of 2017.
Real Estate Project Status in China
Below is a summary table of projects that were active and available for sale in the third quarter of 2017.
| Project |
GFA |
Contract Sales |
Project |
||||
| (m2 '000s) |
(US$ millions) |
||||||
| Total Active |
Sold to |
Total |
Sales to |
% |
|||
| Xingyang Splendid II |
137.2 |
79.9 |
138.7 |
69.2 |
49.9% |
67.9% |
|
| Kunshan Royal Palace |
280.0 |
277.4 |
472.5 |
459.7 |
97.3% |
96.0% |
|
| Jinan Royal Palace |
451.3 |
314.5 |
644.3 |
359.2 |
55.8% |
77.5% |
|
| Xuzhou Colorful City |
130.2 |
83.7 |
195.1 |
117.8 |
60.4% |
85.1% |
|
| Chengdu Thriving Family |
213.0 |
167.1 |
366.7 |
175.9 |
48.0% |
98.7% |
|
| Changsha Xinyuan Splendid |
251.6 |
234.5 |
348.4 |
240.4 |
69.0% |
91.0% |
|
| Sanya Yazhou Bay No.1 |
117.2 |
53.2 |
291.2 |
114.1 |
39.2% |
89.6% |
|
| Xi'an Metropolitan |
290.6 |
232.6 |
464.1 |
246.4 |
53.1% |
97.4% |
|
| Zhengzhou Xindo Park |
144.4 |
115.4 |
194.2 |
124.3 |
64.0% |
85.7% |
|
| Jinan Xin Central |
194.7 |
138.9 |
351.3 |
210.1 |
59.8% |
83.5% |
|
| Henan Xin Central I |
262.2 |
237.0 |
354.7 |
273.7 |
77.2% |
85.0% |
|
| Zhengzhou Fancy City I |
166.7 |
156.3 |
231.9 |
196.3 |
84.6% |
77.5% |
|
| Zhengzhou Fancy City II (South) |
84.1 |
73.7 |
143.6 |
116.7 |
81.3% |
66.1% |
|
| Tianjin Spring Royal Palace |
278.2 |
127.1 |
489.4 |
153.8 |
31.4% |
52.8% |
|
| Kunshan Xindo Park |
89.0 |
58.0 |
268.2 |
167.6 |
62.5% |
73.7% |
|
| Zhengzhou International New |
360.5 |
293.6 |
655.0 |
501.2 |
76.5% |
42.2% |
|
| Henan Xin Central II |
109.7 |
79.2 |
180.2 |
118.3 |
65.6% |
58.5% |
|
| Xingyang Splendid III |
121.3 |
62.9 |
129.5 |
66.2 |
51.1% |
40.0% |
|
| Changsha Mulian Royal Palace |
91.2 |
32.8 |
160.2 |
54.4 |
34.0% |
64.8% |
|
| Zhengzhou International New |
176.0 |
68.9 |
378.2 |
139.7 |
36.9% |
40.5% |
|
| Others remaining GFA |
86.9 |
- |
- |
- |
- |
- |
|
| Total active projects |
4,036.0 |
2,886.7 |
6,457.4 |
3,905.0 |
68.0% |
78.9% |
|
As of September 30, 2017, the Company's total saleable GFA was approximately 3,030,300 square meters for active projects and under planning stage projects in China. Below is a summary of all of the Company's planning stage projects:
| Unsold GFA (m2, 000s) |
Pre-sales Scheduled |
||
| Zhengzhou Fancy City II (North) |
119.6 |
Q4 2017 |
|
| Beijing Liyuan Project |
102.3 |
To be determined |
|
| Zhengzhou International New City III |
411.1 |
Q4 2017 |
|
| Changsha Furong Thriving Family (Changsha Renmin East Road |
73.0 |
To be determined |
|
| Xi'an Royal Palace (Xi'an Aerospace City Project) |
226.0 |
To be determined |
|
| Zhengzhou Heizhuzhuang Project |
340.0 |
To be determined |
|
| Kunshan Zhongyu Project |
113.0 |
To be determined |
|
| Zhengzhou International New City IV |
46.0 |
To be determined |
|
| Zhuhai Prince Project |
70.0 |
To be determined |
|
| Qingdao New Project |
380.0 |
To be determined |
|
| Total projects under planning |
1,881.0 |
||
| Total active projects |
1,149.3 |
||
| Total of all Xinyuan unsold projects in China |
3,030.3 |
Real Estate Project Update in the United States
In the third quarter of 2017, the Company's Oosten project in Brooklyn, New York recognized revenue of approximately US$7.0 million. As of September 30, 2017, a total of 167 units out of 216 total units were sold and closed and total revenue from this project had reached US$244 million.
During the third quarter of 2017, local market demand and price trends remained stable in both Manhattan and Brooklyn. Both experienced modest year-over-year unit price increases. However, "Days on Market", an industry-wide metric for the average number of days to sell a listed housing unit, increased modestly, which was reflected on the slower sales of our Oosten project. The remaining larger units may take more time than smaller units that have been sold and delivered.
The Company is continuing its foundation work for its second New York City project which is located at the 10th Avenue, Manhattan, New York.
For the Company's third project, located in Flushing, Queens, New York, it continues to execute its planning, governmental approvals and pre-development of its ground-up development project.
Conference Call Information
The Company will hold a conference call at 8:00 am ET on November 10, 2017 to discuss third quarter 2017 results. Listeners may access the call by dialing:
US Toll Free: 1-800-289-0438
China: +86-400-120-9101
International: 1-323-794-2423
A webcast will also be available through the Company's investor relations website at http://ir.xyre.com.
A replay of the call will be available through November 17, 2017 by dialing:
US: 1-844-512-2921
International: 1-412-317-6671
Access code: 3600225
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, Xinyuan 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. Xinyuan 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.
Forward Looking Statements
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 and 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 successfully into new geographic markets and new business lines and expand our operations; 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, 2016. 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.
Notes to Unaudited Financial Information
This release contains unaudited financial information which is subject to year-end audit adjustments. Adjustments to the financial statements may be identified when the audit work is completed, which could result in significant differences between our audited financial statements and this unaudited financial information.
For more information, please contact:
In China:
Xinyuan Real Estate Co., Ltd.
Mr. Joe Xu
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
ICR, LLC
In U.S.: +1-646-308-1472
In China: +86 (10) 6583-7511
Email: William.zima@icrinc.com
Media:
Edmond Lococo
In China: +86 (10) 6583-7510
Email: Edmond.Lococo@icrinc.com
| XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES |
||||||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||
| (All US$ amounts and number of shares data in thousands, except per share data) |
||||||||||
| Three months ended |
||||||||||
| September 30, |
June 30, |
September 30, |
||||||||
| 2017 |
2017 |
2016 |
||||||||
| (unaudited) |
(unaudited) |
(unaudited) |
||||||||
| Total revenue |
482,373 |
488,165 |
444,278 |
|||||||
| Total costs of revenue |
(373,532) |
(380,242) |
(339,322) |
|||||||
| Gross profit |
108,841 |
107,923 |
104,956 |
|||||||
| Selling and distribution expenses |
(18,890) |
(18,072) |
(19,233) |
|||||||
| General and administrative expenses |
(32,085) |
(29,823) |
(34,584) |
|||||||
| Operating income |
57,866 |
60,028 |
51,139 |
|||||||
| Interest income |
5,454 |
4,375 |
2,116 |
|||||||
| Interest expense |
(11,418) |
(20,195) |
(6,558) |
|||||||
| Net realized gain on short-term investments |
1,017 |
2,257 |
1,392 |
|||||||
| Unrealized gain on short-term investments |
2,434 |
524 |
91 |
|||||||
| Other expense |
(3) |
- |
(27) |
|||||||
| Loss on extinguishment of debt |
(15,880) |
- |
- |
|||||||
| Exchange loss |
(189) |
(46) |
(37) |
|||||||
| Share of (loss)/gain of equity investees |
(386) |
(265) |
412 |
|||||||
| Income from operations before income taxes |
38,895 |
46,678 |
48,528 |
|||||||
| Income taxes |
(22,366) |
(25,901) |
(20,481) |
|||||||
| Net income |
16,529 |
20,777 |
28,047 |
|||||||
| Net (income)/loss attributable to non-controlling interest |
(2,453) |
(11,698) |
157 |
|||||||
| Net income attributable to Xinyuan Real Estate Co., Ltd. |
14,076 |
9,079 |
28,204 |
|||||||
| Earnings per ADS: |
||||||||||
| Basic |
0.22 |
0.14 |
0.43 |
|||||||
| Diluted |
0.22 |
0.14 |
0.41 |
|||||||
| ADS used in computation: |
||||||||||
| Basic |
64,333 |
64,324 |
66,121 |
|||||||
| Diluted |
65,347 |
65,622 |
69,329 |
|||||||
| XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES |
||||||
| UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||
| (All US$ amounts and number of shares data in thousands, except per share data) |
||||||
| Nine months ended |
||||||
| September 30, |
September 30, |
|||||
| 2017 |
2016 |
|||||
| (unaudited) |
(unaudited) |
|||||
| Total revenue |
1,251,252 |
1,056,285 |
||||
| Total costs of revenue |
(971,921) |
(825,130) |
||||
| Gross profit |
279,331 |
231,155 |
||||
| Selling and distribution expenses |
(47,449) |
(36,155) |
||||
| General and administrative expenses |
(86,925) |
(90,189) |
||||
| Operating income |
144,957 |
104,811 |
||||
| Interest income |
12,428 |
14,810 |
||||
| Interest expense |
(40,938) |
(16,621) |
||||
| Net realized gain on short-term investments |
3,862 |
2,308 |
||||
| Unrealized gain on short-term investments |
4,212 |
858 |
||||
| Other income |
156 |
4,081 |
||||
| Loss on extinguishment of debt |
(15,880) |
- |
||||
| Exchange (loss)/gains |
(286) |
198 |
||||
| Share of loss of an equity investee |
(894) |
(186) |
||||
| Income from operations before income taxes |
107,617 |
110,259 |
||||
| Income taxes |
(62,891) |
(47,513) |
||||
| Net income |
44,726 |
62,746 |
||||
| Net income attributable to non-controlling interest |
(14,109) |
(1,897) |
||||
| Net income attributable to Xinyuan Real Estate Co., Ltd. |
30,617 |
60,849 |
||||
| Earnings per ADS: |
||||||
| Basic |
0.48 |
0.91 |
||||
| Diluted |
0.47 |
0.88 |
||||
| ADS used in computation: |
||||||
| Basic |
64,217 |
66,910 |
||||
| Diluted |
65,618 |
69,090 |
||||
| XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES |
||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
| (All US$ amounts and number of shares data in thousands) |
||||||||
| September 30, |
June 30, |
December 31, |
||||||
| 2017 |
2017 |
2016 |
||||||
| (unaudited) |
(unaudited) |
(audited) |
||||||
| ASSETS |
||||||||
| Current assets |
||||||||
| Cash and cash equivalents |
806,459 |
953,511 |
578,244 |
|||||
| Restricted cash |
380,785 |
321,615 |
328,499 |
|||||
| Short-term investments |
49,813 |
49,686 |
39,311 |
|||||
| Accounts receivable |
53,294 |
27,669 |
32,704 |
|||||
| Other receivables |
45,199 |
38,750 |
31,822 |
|||||
| Deposits for land use rights |
82,041 |
80,376 |
153,252 |
|||||
| Other deposits and prepayments |
501,284 |
492,218 |
525,263 |
|||||
| Advances to suppliers |
47,235 |
38,465 |
27,457 |
|||||
| Real estate properties development completed |
538,476 |
381,238 |
477,179 |
|||||
| Real estate properties under development |
2,080,472 |
2,135,226 |
1,719,135 |
|||||
| Amounts due from related parties |
30,134 |
24,584 |
17,732 |
|||||
| Amounts due from employees |
3,399 |
1,482 |
621 |
|||||
| Other current assets |
995 |
583 |
226 |
|||||
| Total current assets |
4,619,586 |
4,545,403 |
3,931,445 |
|||||
| Real estate properties held for lease, net |
187,280 |
191,021 |
159,874 |
|||||
| Property and equipment, net |
32,783 |
33,154 |
34,090 |
|||||
| Other long-term investment |
12,671 |
9,099 |
242 |
|||||
| Investment in joint ventures |
12,824 |
7,502 |
7,556 |
|||||
| Deferred tax assets |
50,722 |
50,190 |
49,690 |
|||||
| Deposits for land use rights |
22,601 |
29,523 |
28,831 |
|||||
| Other assets |
71,193 |
40,976 |
24,717 |
|||||
| TOTAL ASSETS |
5,009,660 |
4,906,868 |
4,236,445 |
|||||
| XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES |
||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
| (All US$ amounts and number of shares data in thousands) |
||||||||
| September 30, |
June 30, |
December 31, |
||||||
| 2017 |
2017 |
2016 |
||||||
| (unaudited) |
(unaudited) |
(audited) |
||||||
| LIABILITIES AND |
||||||||
| SHAREHOLDERS' EQUITY |
||||||||
| Current liabilities |
||||||||
| Accounts payable and notes payable |
472,000 |
482,028 |
524,663 |
|||||
| Short-term bank loans and other debt |
120,430 |
109,856 |
178,576 |
|||||
| Customer deposits |
318,973 |
173,326 |
150,545 |
|||||
| Income tax payable |
109,842 |
102,736 |
120,573 |
|||||
| Other payables and accrued liabilities |
250,848 |
242,832 |
199,661 |
|||||
| Payroll and welfare payable |
17,005 |
11,923 |
19,522 |
|||||
| Current portion of long-term bank loans and other debt |
1,295,942 |
1,077,419 |
704,695 |
|||||
| Current maturities of capital lease obligations |
4,403 |
4,314 |
3,923 |
|||||
| Mandatorily redeemable non-controlling interests |
13,184 |
12,916 |
12,614 |
|||||
| Amounts due to related parties |
105,931 |
69,308 |
66,230 |
|||||
| Total current liabilities |
2,708,558 |
2,286,658 |
1,981,002 |
|||||
| Non- current liabilities |
||||||||
| Long-term bank loans |
- |
360,945 |
235,885 |
|||||
| Other long term debt |
1,076,066 |
1,099,563 |
974,791 |
|||||
| Deferred tax liabilities |
179,789 |
172,894 |
93,107 |
|||||
| Unrecognized tax benefits |
20,495 |
20,494 |
20,492 |
|||||
| Capital lease obligations, net of current maturities |
12,314 |
13,093 |
15,016 |
|||||
| Amounts due to related parties |
1,849 |
1,543 |
- |
|||||
| TOTAL LIABILITIES |
3,999,071 |
3,955,190 |
3,320,293 |
|||||
| Shareholders' equity |
||||||||
| Common shares |
16 |
16 |
16 |
|||||
| Treasury shares |
(67,792) |
(65,590) |
(53,734) |
|||||
| Additional paid-in capital |
545,464 |
542,040 |
538,414 |
|||||
| Statutory reserves |
96,371 |
95,965 |
95,973 |
|||||
| Retained earnings |
365,336 |
357,147 |
354,274 |
|||||
| Accumulated other comprehensive loss/(income) |
10,247 |
(11,256) |
(34,683) |
|||||
| Total Xinyuan Real Estate Co., Ltd. shareholders' equity |
949,642 |
918,322 |
900,260 |
|||||
| Non-controlling interest |
60,947 |
33,356 |
15,892 |
|||||
| Total equity |
1,010,589 |
951,678 |
916,152 |
|||||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
5,009,660 |
4,906,868 |
4,236,445 |
|||||
View original content:http://www.prnewswire.com/news-releases/xinyuan-real-estate-co-ltd-announces-third-quarter-2017-financial-results-300553757.html
