Xinyuan Real Estate
 | |
| Public | |
| Traded as | NYSE: XIN |
| Industry |
Real estate development Property management |
| Founder |
Yong Zhang Yuyan Yang |
| Headquarters | Beijing, People's Republic of China |
Area served | Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Xuzhou and Chengdu.[1] |
Key people |
Yong Zhang (Chairman and CEO) Yuyan Yang (EA) Thomas Gurnee (CFO) |
| Revenue |
 $449 million - 2009[2] |
|
$42.4 million - 2009[2] | |
| Total assets | $881.7 million - 2009[2] |
| Total equity | $446.9 million - 2009[2] |
| Subsidiaries | See below. |
| Website | www.xyre.com |
Xinyuan Real Estate Co., Ltd. (Chinese: 鑫苑置业; pinyin: Xīnyuàn Zhìyè) is a Chinese real estate company.[3]
Principally engaged in residential real estate development and the provision of property management services, it focuses on Tier II cities in China.[4][5]
History
Xinyuan is a real estate developer building large-scale residential projects for middle-income consumers in China’s Tier II cities. The company was founded in 1997 in Zhengzhou, China and puts up developments aimed at providing middle-income consumers with a community lifestyle. Xinyuan's team has capitalized on China’s rapid economic growth by utilizing a standardized and scalable business model that emphasizes high asset turnover, efficient working capital management and strict cost control and their national establishment covers six high-growth Tier II cities: Chengdu, Hefei, Jinan, Kunshan, Suzhou, and Zhengzhou. They have a total of 26 projects and more than 3 million square meters of GFA developed, under construction and under planning.
On December 7, 2005, Forte (Group) Co. Ltd announced that its subsidiary Shanghai Xinyuan Real Estate Development Co. Ltd had successfully acquired 30% stake of Shanghai Baisi Property Co. [6]
Xinyuan was selected as one of "China's Sixty Best Employers for 2007" in a survey conducted by China Central Television.[5]
Xinyuan's holding company is based in the Cayman Islands.[7] On 18 April 2008, Xinyuan's corporate headquarters was relocated from Zhengzhou to Beijing.[5]
The China Real Estate Top 10 Committee has selected Xinyuan as one of "China's Top 10 Overseas-Listed Real Estate Developers", and has awarded it the "Top 100 Chinese Real Estate Companies with Greatest Growth Potential Award" once, and the "Top 100 Chinese Real Estate Companies Award" thrice consecutively.[5]
Joint ventures
Xinyuan has joint ventures with Blue Ridge Capital, China Construction Bank, and Equity International.[5]
Initial public stock offering
On 12 December 2007, Xinyuan became the first Chinese real estate developer to become listed on the New York Stock Exchange.[8] Underwritten by Merrill Lynch, Deutsche Bank Securities, and Allen & Co, Xinyuan's initial public offering raised US$245m in capital.[7][9] China Analyst reports that Xinyuan's stock is the 2nd fastest growing within its respective industry as of March 2010.[10]
Services and subsidiaries
Xinyuan provides landscaping and intercom systems installation services through two of its 11 subsidiaries, Zhengzhou Mingyuan Landscape Engineering Co., Ltd. and Zhengzhou Xinyuan Computer Network Engineering Co., Ltd.[11] Its construction contracts typically provide for fixed or capped payments, but the payments are subject to changes in government-suggested steel prices. The contractors are typically responsible for procuring the necessary raw materials, as well as providing engineering and construction services. The Company procures certain ancillary fixtures for installation, such as elevators, windows and entrance doors. Its major suppliers are suppliers of power distribution boxes, elevators, plastic-steel windows, doors and heat sinks.
Markets
As of December 31, 2007, the Company operated in six markets: Chengdu in Sichuan Province; Hefei in Anhui Province; Jinan in Shandong Province; Suzhou and Kunshan in Jiangsu Province, and Zhengzhou in Henan Province. It offers three main types of real estate property products: multi-layer apartment buildings, which are typically six stories or less and normally require 9 to 12 months to construct after the Company obtain the related construction permit; sub-high-rise apartment buildings, which are typically 7 to 11 stories and normally require 12 to 18 months to construct after the Company obtain the related construction permit, and high-rise apartment buildings, which are typically 12 to 33 stories and normally require 18 to 24 months to construct after it obtain the related construction permit.
Projects
As of 2007, Xinyuan had 13 completed projects and 14 in development or planning.[8]
| Name | Location | Total site area | Gross floor area | Status |
|---|---|---|---|---|
| Kunshan International City Garden | Kunshan, Jiangsu | 200,008 m2 (2,152,870 sq ft) | 497,041 m2 (5,350,100 sq ft) | Under construction (2012) |
| Zhengzhou Central Garden (East and West) | Zhengdong District, Zhengzhou, Henan | 140,313 m2 (1,510,320 sq ft) | 355,590 m2 (3,827,500 sq ft) | Completed |
| Jinan City Family | Huaiyin District, Jinan, Shandong | 47,411 m2 (510,330 sq ft) | 61,065 m2 (657,300 sq ft) | Completed |
| Xuzhou Xinyuan Colorful Garden | Quanshan District, Xuzhou, Jiangsu | 46,777 m2 (503,500 sq ft) | 102,097 m2 (1,098,960 sq ft) | Under construction (2012) |
| Zhengzhou City Family | Guancheng District, Zhengzhou, Henan | 21,380 m2 (230,100 sq ft) | 39,226 m2 (422,230 sq ft) | Completed |
| Zhengzhou City Manor | Erqi District, Zhengzhou, Henan | 63,089 m2 (679,080 sq ft) | 118,716 m2 (1,277,850 sq ft) | Completed |
| Zhengzhou Xinyuan Splendid | Jinshui District, Zhengzhou, Henan | 192,885 m2 (2,076,200 sq ft) | 386,332 m2 (4,158,440 sq ft) | Completed |
| Longhai Star Garden | Zhongyuan District, Zhengzhou, Henan | 11,719 m2 (126,140 sq ft) | 39,975 m2 (430,290 sq ft) | Completed |
| Chengdu Xinyuan Splendid I | Jinjiang District, Chengdu, Sichuan | 34,007 m2 (366,050 sq ft) | 231,002 m2 (2,486,480 sq ft) | Completed |
| Chengdu Xinyuan Splendid II | Jinjiang District, Chengdu, Sichuan | 30,497 m2 (328,270 sq ft) | 216,900 m2 (2,335,000 sq ft) | Completed |
| Hefei Wangjiang Garden | Baohe District, Hefei, Anhui | 51,939 m2 (559,070 sq ft) | 145,452 m2 (1,565,630 sq ft) | Completed |
| Suzhou International City Garden | New District, Suzhou, Jiangsu | 119,089 m2 (1,281,860 sq ft) | 205,591 m2 (2,212,960 sq ft) | Completed |
| Suzhou Colorful Garden | Gusu District (formerly Jinchang District), Suzhou, Jiangsu | 81,506 m2 (877,320 sq ft) | 190,000 m2 (2,000,000 sq ft) | Completed |
| Suzhou Lake Splendid | Wuzhong District, Suzhou, Jiangsu | 130,945 m2 (1,409,480 sq ft) | 198,113 m2 (2,132,470 sq ft) | Completed |
| Jinan Xinyuan Splendid | Jinan, Shandong | 200,180 m2 (2,154,700 sq ft) | 526,990 m2 (5,672,500 sq ft) | Under construction (2012) |
| Jinan International City Garden | Jinan, Shandong | 93,928 m2 (1,011,030 sq ft) | 292,200 m2 (3,145,000 sq ft) | Completed |
| Jinan Elegant Scenery | Tianqiao District, Jinan, Shandong | 61,500 m2 (662,000 sq ft) | 110,000 m2 (1,200,000 sq ft) | Completed |
| Zhengzhou Commercial Plaza | Jinshui District, Zhengzhou, Henan | 8,410 m2 (90,500 sq ft) | 67,578 m2 (727,400 sq ft) | Completed |
| Zhengzhou Xinyuan Colorful Garden | Erqi District, Zhengzhou, Henan | 74,462 m2 (801,500 sq ft) | 191,891 m2 (2,065,500 sq ft) | Completed |
| Zhengzhou Yipin Xiangshan Phase I | Huiji District, Zhengzhou, Henan | 57,289 m2 (616,650 sq ft) | 94,528 m2 (1,017,490 sq ft) | Completed |
| Zhengzhou Yipin Xiangshan Phase II | Huiji District, Zhengzhou, Henan | 81,345 m2 (875,590 sq ft) | 198,543 m2 (2,137,100 sq ft) | Under construction (2012) |
| Zhengzhou Century East A | New East District, Zhengzhou, Henan | 22,418 m2 (241,310 sq ft) | 77,341 m2 (832,490 sq ft) | Under construction (2012) |
| Zhengzhou Century East B | New East District, Zhengzhou, Henan | 51,372 m2 (552,960 sq ft) | 166,468 m2 (1,791,850 sq ft) | Under construction (2012) |
| Zhengzhou Century Royal Place | Zhengzhou, Henan | 45,716 m2 (492,080 sq ft) | 132,238 m2 (1,423,400 sq ft) | Under construction (2012) |
| Zhengzhou Modern City | Erqi District, Zhengzhou, Henan | 60,556 m2 (651,820 sq ft) | 256,905 m2 (2,765,300 sq ft) | Under construction (2012) |
| Source: Xinyuan Real Estate development and completed project lists, April 2012 SEC filing (Form 20-F), Reuters profile. | ||||
See also
References
- ↑ "Xinyuan Real Estate Co., Ltd. to Report Fourth Quarter and Full Year 2009 Financial Results on February 11, 2010". Fox Business Network. 2010-02-08. Retrieved 2010-03-13.
- 1 2 3 4 "Xinyuan Real Estate / Q4 2009 Earnings Release". Retrieved 2010-03-13.
- ↑ Duprey, Rich (2010-03-11). "Build Your Fortune With These Winners". The Motley Fool. Retrieved 2010-03-13.
- ↑ "Xinyuan Real Estate Co., Ltd. Limited Announces Participation in Roth OC Growth Stock Conference". Xinyuan Real Estate Co., Ltd. (Press release). PR Newswire. 2010-03-10. Retrieved 2010-03-13.
- 1 2 3 4 5 "Xinyuan Real Estate / Awards & Milestones". Archived from the original on December 7, 2008. Retrieved 2010-03-13.
- ↑ "Forte Group expands land reserve in Shanghai SHANGHAI".
- 1 2 "Xinyuan Real Estate discloses IPO terms". Associated Press. 2007-11-26. Archived from the original on July 22, 2011. Retrieved 2010-03-13.
- 1 2 Louis, Brian (2007-12-12). "Developer Xinyuan Rises in First Day of Trading". Bloomberg. Retrieved 2010-03-13.
- ↑ Jonas, Ilaina; Lilla Zuill; Jacqueline Wong (2007-12-12). "China's Xinyuan Real Estate IPO raises $245 mln". Reuters.
- ↑ "Top 10 Fastest-Growing Home Building and Services Stocks: GFA, XIN, DEER, IRBT, MIDD, NTZ, WHR, MHO, MHK, IFSIA". China Analyst. 2010-03-12. Retrieved 2010-03-13.
- ↑ "Xinyuan Real Estate / Organizational Structure". Archived from the original on December 10, 2008. Retrieved 2010-03-16.
