omniture

Xinyuan Real Estate Named One of China’s Top Fifty ‘Golden’Overseas-listed Companies

2008-07-09 20:56 1805

BEIJING, July 9 /Xinhua-PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (“Xinyuan”) (NYSE: XIN), a fast-growing residential real estate developer with a focus on strategically selected Tier II cities in China, today announced that it has been selected as one of China’s Top Fifty “Golden” Overseas-listed Chinese companies by CEO & CIO magazine, a prominent Chinese magazine focused on business management.

“We are delighted to be recognized among this elite group, including peers operating across many different industries in China,” said Mr. Yong Zhang, Xinyuan’s chairman and chief executive officer. “We believe that our disciplined focus on high asset turnover, efficient capital management and strict cost control helped us to be considered as a top overseas-listed Chinese company.”

The publication narrowed its top fifty from a list of 537 medium-to-large China-based companies listed on major stock markets, including the Hong Kong Stock Exchange, NASDAQ, NYSE and the Singapore Exchange. The magazine noted that key selection criterion was based on robust revenue growth and high investment returns.

Xinyuan’s compound annual growth rate of approximately 100 percent over the past three years was cited by the magazine as a key factor in Xinyuan’s selection as one of China’s Top Fifty “Golden” Overseas-listed Companies.

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. (“Xinyuan”) (NYSE: XIN) is a fast-growing developer of large scale, quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community life. Xinyuan focuses on China’s Tier II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Ranked #1 among all property developers in Zhengzhou in terms of contracted sales of residential units for the years 2004, 2005 and 2006, Xinyuan has expanded its network to cover a total population of over 34.5 million people in six strategically selected Tier II cities, comprising Hefei, Jinan, Kunshan, Suzhou, Zhengzhou and Chengdu. Xinyuan has completed 14 projects with a total GFA of over 1.0 million square meters within the past 10 years and as of March 31, 2008, Xinyuan had 8 projects under construction with a total GFA of 1.2 million square meters and five additional projects under planning with total GFA of 1.2 million square meters. Xinyuan is the first real estate developer from China to be listed on the New York Stock Exchange. For more information, please visit http://www.xyre.com .

Safe Harbor Statement

This announcement may contain 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 can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including statements concerning Xinyuan’s beliefs, forecasts, estimates and expectations, 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 the risk that: we may be unable to complete our property developments on time or at all; we may not be able to successfully manage our expansion; we may not be able to execute our business plan; our results of operations may fluctuate from period to period; the PRC government may adopt further measures to curtail the overheating property sector; we face intense competition from other real estate developers; PRC economic, political and social conditions as well as government policies can affect our business, 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, 2007. All information provided in this press release is as of July 8, 2008, and Xinyuan undertakes no duty to update such information, except as required under the applicable law.

Source: Xinyuan Real Estate Co., Ltd.
Related Stocks:
NYSE:XIN
Keywords: Food/Beverages
collection