BEIJING, June 16 /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 was recently selected as one of China’s top 10 overseas-listed real estate developers by the China Real Estate Top 10 Committee.
"Our selection as one of China’s top 10 overseas-listed real estate developers is a testament to the success of our company, our proven business model and our standard of corporate governance," said Mr. Yong Zhang, Xinyuan’s chairman and chief executive officer. "Xinyuan was the first Chinese real estate developer to list on the New York Stock Exchange, and our focus on rapid asset turnover, efficient capital management and strict cost control have allowed us to quickly expand into new Tier II cities within China. It is a special honor to be selected as a leading overseas-listed Chinese developer by the China Real Estate Top 10 Committee."
In selecting its top 10 overseas-listed Chinese real estate developers, the China Real Estate Top 10 Committee compared Chinese real estate developers listed in Singapore, Europe and the United States and utilized a rigorous evaluation system based on operational scale, growth, profitability, and development potential. In its report, the Committee praised Xinyuan for its unique business model and focus on Tier II cities within China, its partnerships with world-renowned institutional shareholders Equity International and Blue Ridge China and for its successful listing on the New York Stock Exchange.
The China Real Estate Top 10 Committee is a real estate market research task force jointly organized by the Enterprise Research Institute of the Development Research Center of the State Council of PRC, the Institute of Real Estate Studies of Tsinghua University and the China Index Academy.
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 6 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 5 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. Information regarding these risks and uncertainties is included in our public filings with the Securities and Exchange Commission, including our registration statement on Form F-1, as amended and our annual report on Form 20-F. All information provided in this press release is as of June 16, 2008, and Xinyuan undertakes no duty to update such information, except as required under the applicable law.
