Xinyuan unterbewert? - 500 Beiträge pro Seite

[chinaprofi]

http://seekingalpha.com/article/247292-china-s-xinyuan-real-…

http://seekingalpha.com/article/247292-china-s-xinyuan-real-…

[startvestor]

Antwort auf Beitrag Nr.: 41.006.468 von chinaprofi am 09.02.11 00:00:15

XinYuan ist immer noch unterbewertet und sie sind auch bis Ende 2011 aufgrund des negativen China-Sentiments weiter massiv gefallen. Seither gehts aber aufwärts. Dividende, Aktienrückkauf, starke Zahlen und Transparenz wirken wohl doch auch auf US-Investoren. Auch das Yahoo-Board macht diesbezüglich Mut. Hier die Zahlen für Q3/2012:

Umsatz:            226,1 Mio. USD (+6% Y/Y)

Gross Profit:      65,5 Mio. USD (63,8)

Gross Margin:      29% (29,9%)

op. Gewinn:        50,6 Mio. (49,6)

Gewinn:            31,9 Mio (+2,2%)

Nettomargin:       14,1% (14,6%)

EPS:               0,44 USD (vs. 0,42)

Marketcap und Bilanz sehen so aus:

Kurs:           3,44 USD

Marketcap:      245 Mio. USD

Shares (ADS):   71,3 Mio.



Cash:              608,6 Mio. USD

EK:                743 Mio. USD

Bank-Schulden:     250,7 Mio. USD

Verbindlichkeiten: 788 Mio.

Bilanzsumme:       1.532 Mio. USD

Q4/2012 und Q1/2013 werden aber etwas schwächer werden. Man kann also ggf. auch noch im Frühjahr nachkaufen. Falls die massive Unterbewertung von XIN (KGV < 2) aber doch mal durchschlägt, kanns auch schnell über 4 USD und weiter gehen.

[chonz]

Company raises quarterly dividend by 25% to US$0.05 per ADS

BEIJING, Feb. 7, 2013 /PRNewswire/ — Xinyuan Real Estate Co., Ltd. (“Xinyuan” or “the Company”) (NYSE:XIN), a residential real estate developer with primary focus on high growth cities in China, today announced that its Board of Directors has declared its fourth quarterly cash dividend payment for 2012 of US$0.025 per common share, or US$0.05 per American Depositary Share (ADS), which will be payable on February 28, 2013 to shareholders of record as of February 15, 2013. This represents an increase of US$0.01 per ADS or 25%, over the Company’s previous quarterly dividend of US$0.04 per ADS.

Mr. Yong Zhang, Xinyuan’s Chairman and Chief Executive Officer commented, “Our strong financial condition allows us to raise our quarterly dividend payment, which reinforces our focus on returning capital to our shareholders while we continue to invest in the long-term growth of our business. We believe Xinyuan is well positioned to capitalize on strategic opportunities in 2013 and look forward to updating investors on our upcoming fourth quarter and full year 2012 financial earnings call in late February.”

[startvestor]

Antwort auf Beitrag Nr.: 44.115.041 von chonz am 07.02.13 16:01:46

Den Kurs hat die News heute endlich über den Widerstand um die 4 USD katapultiert.

[chonz]

Xinyuan Real Estate Co., Ltd. Announces Fourth Quarter And Full Year 2012 Financial Results

Subscribe by RSS
Email/Share Page
Tweet

– Exceeds 4Q12 Contract Sales, Revenue and Net Income Estimates –

BEIJING, Feb. 27, 2013 /PRNewswire/ – Xinyuan Real Estate Co., Ltd. (“Xinyuan” or “the Company”) (NYSE:XIN), a residential real estate developer with primary focus on high growth cities in China, today announced its unaudited financial results for the fourth quarter and full year 2012.

Highlights for the Fourth Quarter 2012

Total fourth quarter revenues were US$263.1 million, a 31.7% increase from US$199.8 million in the fourth quarter of 2011 and a 16.4% increase from US$226.1 million in the third quarter of 2012.
Contract sales totaled US$188.4 million, a 9.5% increase from US$172.1 million in the fourth quarter of 2011 and an 18.0% decrease from US$229.8 million in the third quarter of 2012.
Total gross floor area (“GFA”) sales were 132,700 square meters, an 18.6% increase from 111,900 square meters in the fourth quarter of 2011 and a 22.3% decrease from 170,700 square meters sold in the third quarter of 2012.
Selling, General, and Administrative (“SG&A”) expenses as a percent of total revenue totaled 5.4% compared to 5.8% in the fourth quarter of 2011 and 6.6% in the third quarter of 2012.
Net income totaled US$33.6 million, an 18.7% increase from US$28.3 million in the fourth quarter of 2011 and a 5.3% increase from US$31.9 million in the third quarter of 2012.
Diluted net earnings per American Depositary Share (“ADS”) attributable to shareholders were US$0.47 compared to diluted net earnings per ADS of US$0.38 in the fourth quarter of 2011 and US$0.44 per ADS in the third quarter of 2012.
Cash and cash equivalents, including restricted cash, increased by US$33.3 million to US$641.9 million as of December 31, 2012 from US$608.6 million as of September 30, 2012. Short and long term debt increased by US$34.2 million to US$314.1 million compared to US$279.9 million as of September 30, 2012.
The Company paid a quarterly dividend of US$0.04 per ADS on October 31, 2012 and will pay a quarterly dividend of US$0.05 per ADS on February 28, 2013.

[startvestor]

Antwort auf Beitrag Nr.: 44.193.017 von chonz am 27.02.13 15:59:28

Das waren großartige Zahlen, auch für ganz 2012:

Umsatz:          915 Mio. USD (+33,1% Y/Y)

Gross Profit:    280 Mio. USD (199,7)

op. Gewinn:      223,3 Mio. (156,3)

Gewinn:          157 Mio (102,3)

EPS:             2,17 USD (vs. 1,36)

Der Ausblick ist folgender:

Ausblick Q1/2013:

Umsatz:  130-140 Mio.

Gewinn:  16-18 Mio.



Ausblick 2013:

Umsatz:  750-775 Mio.

Gewinn:  90-100 Mio.

Auch die Bilanz ist top, EK von 781,5 Mio. USD, Cash gleich 641,9 Mio. USD und das bei einer Marketcap von 343 Mio. USD. Leider kam nach dem rasanten Anstieg bis fast 6 USD dann folgende News:

http://www.fool.com/investing/general/2013/03/04/why-xinyuan…

So what: On late Friday, China's cabinet voted for stricter implementation of the 20% capital gains tax on homes sales, increasing loan rates on buyers in cities where home prices are rising too rapidly, and other homebuyer restrictions. Previously, sellers had a choice between paying the 20% capital gains tax or between 1% and 2% the value of the home -- that appears as if it will no longer to be a choice, and it could be the impetus that dries up investment purchasing for the time being.

Das hat alle Objektentwickler hart getroffen. Ich denke aber, XinYuan ist davon nicht über Gebühr betroffen.

[startvestor]

Antwort auf Beitrag Nr.: 44.273.856 von startvestor am 19.03.13 22:03:05

Es gab heute gute Zahlen für Q1/2013:

Verkäufe:       178,3 Mio. (159,7 Y/Y)

Umsatz:         169,4 Mio. USD (-1,9% Y/Y) (nach Prozent-Fertigstellung)

Gross Profit:   55,7 Mio. USD (49,2)

Gross Margin:   32,9% (28,2%)

op. Gewinn:     43,3 Mio. (37,3)

Gewinn:         26,6 Mio (+14,7%)

Nettomargin:    15,7% (13,5%)

EPS:            0,37 USD (vs. 0,31)



op. Cashflow:   66 Mio.

Der Ausblick für 2013 wurde erhöht:

Verkäufe:  850 Mio.

Umsatz:    820 Mio.

Gewinn:    105 Mio.

In Kürze kommt die Quartalsdividende von 0,05 USD. Cash hat man 626,4 Mio. USD, bei einer Marketcap von 334 Mio.

Trotzdem ist der Kurs heute bei 5 USD abgeprallt. Das Misstrauen ist halt noch da.

[chonz]

Zahlen für Q2/2013

Ich denke die 5$ sind überwunden

Xinyuan Real Estate Co., Ltd. (ADR) : Xinyuan Real Estate Co., Ltd. Announces Second Quarter 2013 Financial Results
08/08/2013 | 07:45am US/Eastern
Recommend:
0
Xinyuan Real Estate Co., Ltd. Announces Second Quarter 2013 Financial Results
-- 2Q13 Contract Sales Exceeds Previous Guidance by 30.7% --
-- 2Q13 Revenue Exceeds Previous Guidance by 41.8% --
-- 2Q13 Net Income Exceeds Previous Guidance by 57.6% --
-- Book Value Per Share Increased to $11.94 per ADS --
-- Raises FY2013 Contract Sales, Revenue and Net Income Forecast --

BEIJING, Aug. 8, 2013/PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with primary focus on high growth cities in China, today announced its unaudited financial results for the second quarter of 2013.

Highlights for the Second Quarter 2013

Total second quarter revenues were US$198.5 million, a 17.2% increase from US$169.4 millionrecorded in the first quarter of 2013 and a 21.6% decrease from US$253.1 millionreported in the second quarter of 2012. Second quarter revenue exceeded the previous guidance of US$140.0 millionby 41.8%.
Contract sales totaled US$196.0 million, a 9.9% increase from US$178.3 millionrecorded in the first quarter of 2013 and a 24.0% decrease from US$258.0 millionrecorded in the second quarter of 2012. Second quarter contract sales exceeded previous guidance of US$150.0 millionby 30.7%.
Total gross floor area ("GFA") sales were 147,200 square meters, an 18.1% increase from 124,600 square meters sold in the first quarter of 2013, and a 24.3% decrease from 194,500 square meters sold in the second quarter of 2012.
Selling, General, and Administrative ("SG&A") expenses as a percent of total revenue totaled 7.4% compared to 7.3% in the first quarter of 2013 and 6.2% in the second quarter of 2012.
Net income reached US$39.4 million, a 48.1% increase from US$26.6 millionin the first quarter of 2013 and a 43.2% decrease from US$69.4 millionreported in the second quarter of 2012. Second quarter net income exceeded the previous guidance of US$25.0 millionby 57.6%.
Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.54, compared to diluted net earnings per ADS of US$0.37in the first quarter of 2013 and US$0.94per ADS in the second quarter of 2012.
Cash and cash equivalents, including restricted cash, increased by US$248.3 millionfrom US$626.4 millionas of March 31, 2013to US$874.7 millionas of June 30, 2013. Short and long term debt increased by US$194.6 millionfrom US$316.1 millionas of March 31, 2013to US$510.7 millionas of June 30, 2013.
Book value increased to US$850.8 million, or US$11.94per ADS, as of June 30, 2013compared to US$807.9 million, or US$11.37per ADS, in the first quarter of 2013 and US$719.2 million, or US$9.86per ADS, as of June 30, 2012.
The Board of Directors of the Company has approved the payment of a quarterly dividend of US$0.05per ADS payable on August 30, 2013to shareholders of record on August 16, 2013.

Mr. Yong Zhang, Xinyuan's Chairman and Chief Executive Officer said, "We are very pleased with our operational and financial results in the second quarter, where we once again exceeded our contract sales, revenue and net income forecasts. The stronger-than-expected results demonstrated our ability to achieve and surpass corporate objectives and financial targets. The fundamentals of China'shousing market remained healthy in the second quarter and buying demand at our development projects remained strong, improving our sequential quarterly revenue growth and profitability."

"Looking at the second half of this year, we expect to continue developing projects at a measured pace with stable average selling prices. Sellable inventory levels further decreased in the second quarter, however, we expect sales to accelerate as four new projects commence pre-sales in the -second half of the year. Consequently, we are once again raising our full year 2013 financial forecast."

"In the second quarter of 2013, Xinyuan purchased 1,314,858 ADS on the open market at a total cost of approximately US$5.77 million. Our Board recently approved an additional US$60 millionshare repurchase program through 2015, as well as a second quarterly cash dividend payment for 2013 of $0.05per ADS. The existing share repurchase program combined with our regular dividend demonstrates our confidence in Xinyuan's long-term growth prospects."

Financial Results for the Second Quarter 2013

Contract Sales

Contract sales totaled US$196.0 millionin the second quarter compared to US$178.3 millionin the first quarter of 2013 and US$258.0 millionin the second quarter of 2012. The Company's GFA sales were 147,200 square meters in the second quarter of 2013 versus 124,600 square meters in the first quarter of 2013 and 194,500 square meters in the second quarter of 2012. The average selling price per square meter sold was RMB8,312(US$1,332)in the second quarter of 2013 versus RMB8,985(US$1,431)in the first quarter of 2013 and RMB8,367(US$1,326)in the second quarter of 2012. Second quarter contract sales included a US$43.2 millioncontractual government facility sale to Jinanmunicipal authorities as required per the original land bidding documents of nearly 46,600 square meters at a price of RMB5,789(US$927)per square meter.

Breakdown of GFA Sales and ASP's by Project



Q2 2012


Q1 2013


Q2 2013


Unsold



GFA


ASP


GFA


ASP


GFA


ASP


GFA

Project


(m2 000)


(Rmb)


(m2 000)


(Rmb)


(m2 000)


(Rmb)


(m2 000)

Chengdu Splendid I


3.4


5,739


3.8


5,899


-


-


0.5

Chengdu Splendid II


20.8


6,905


0.4


16,563


-


-


-

Zhengzhou Modern City


12.2


8,399


1.7


17,427


0.4


15,264


1.0

Zhengzhou Royal Palace


18.6


10,058


17.2


9,093


18.6


9,269


14.7

Zhengzhou Century East A


-


-


19.4


9,209


27.2


10,451


18.2

Zhengzhou Century East B


21.1


8,503


21.1


8,822


3.9


15,030


11.1

Kunshan Intl City Garden


17.8


7,942


18.3


8,519


3.8


9,378


16.8

Suzhou Intl City Garden


27.5


10,716


0.1


10,212


0.2


11,669


1.1

Xuzhou Colorful Garden


0.3


6,554


-1.0


6,378


1.4


7,555


1.3

Jinan Xinyuan Splendid


33.8


7,783


40.8


8,764


91.0


7,062


208.2

Zhengzhou Yipinxiangshan II


36.2


7,192


2.6


10,792


0.6


11,471


1.9

Others


2.8


-


0.2


-


0.1


-


3.3

Total


194.5


8,367


124.6


8,985


147.2


8,312


278.1

Revenue

In the second quarter of 2013, the Company's total revenue was US$198.5 millioncompared to US$169.4 millionin the first quarter of 2013 and US$253.1 millionin the second quarter of 2012.

Gross Profit

Gross profit for the second quarter of 2013 was US$69.9 million, or 35.2% of revenue, compared to a gross profit of US$55.7 million, or 32.9% of revenue, in the first quarter of 2013 and a gross profit of US$77.5 million, or 30.6% of revenue, in the second quarter of 2012.

The improvement of gross profit as a percentage of revenue over previous periods was largely due to lower total project cost estimates on the Company's Chengdu Splendid II, Kunshan International City Garden, and Zhengzhou Modern City projects. These mature projects are near completion, and the Company has reached favorable settlements with contractors. The Company also increased total project revenue estimates on the Jinan Xinyuan Splendid and Zhengzhou Century East A & B projects to reflect higher than expected selling prices in recent quarters.

Selling, General and Administrative Expenses

SG&A expenses were US$14.7 millionfor the second quarter of 2013 compared to US$12.4 millionfor the first quarter of 2013 and US$15.8 millionfor the second quarter of 2012. As a percentage of total revenue, SG&A expenses were 7.4% compared to 7.3% in the first quarter of 2013 and 6.2% in the second quarter of 2012.

Net Income

Net income for the second quarter of 2013 was US$39.4 millioncompared to US$26.6 millionfor the first quarter of 2013 and US$69.4 millionfor the same period in 2012. Net margin was 19.8%, compared to 15.7% in the first quarter of 2013 and 27.4% in the second quarter of 2012. Diluted earnings per ADS were US$0.54, compared to US$0.37per ADS in the first quarter of 2013 and to US$0.94per ADS in the same period in 2012. Second quarter 2013 net income included a US$9.0 millionincome tax benefit realized on the expiration of a five year statute of limitations period.

Balance Sheet

As of June 30, 2013, the Company reported US$874.7 millionin cash and cash equivalents (including restricted cash) compared to US$626.4 millionas of March 31, 2013mainly from the Company's newly issued US$200 millionbond proceeds. Total debt outstanding was US$510.7 million, an increase of US$194.6 millioncompared to US$316.1 millionat the end of the first quarter of 2013. The value of the Company's real estate property under development at the end of the second quarter was US$605.7 millioncompared to US$620.2 millionat the end of the first quarter of 2013.

Project Status

Below is a summary table of projects that were active in the second quarter of 2013.



GFA


Contract Sales


Project
Cost % Complete

(m2 000)


(US$ million)

Project


Total
Active Projects


Sold to date


Total
Active Projects


Sales to date


%Sold


Chengdu Splendid I


231.7


231.2


198.9


196.3


98.7%


99.5%

Chengdu Splendid II


217.0


217.0


235.5


235.3


99.9%


98.2%

Zhengzhou Modern City


226.4


225.4


311.9


309.8


99.3%


99.0%

Zhengzhou Royal Palace


132.2


117.5


233.3


205.5


88.1%


80.2%

Zhengzhou Century East A


77.3


59.1


122.0


91.9


75.3%


82.7%

Zhengzhou Century East B


166.5


155.4


239.0


216.8


90.7%


86.9%

Kunshan Intl City Garden


497.9


481.1


596.6


570.3


95.6%


99.4%

Suzhou Intl City Garden


204.9


203.8


330.6


328.0


99.2%


99.8%

Xuzhou Colorful Garden


101.8


100.5


120.7


119.3


98.8%


100.0%

Jinan Xinyuan Splendid


565.2


357


772.3


465.2


60.2%


75.6%

Zhengzhou Yipinxiangshan II


198.2


196.3


235.2


232.2


98.7%


95.0%

Others remaining GFA


3.3






Total active projects


2,622.4


2,344.3


3,396.0


2,970.7


87.5%


90.4%

As of June 30, 2013, the Company's total sellable GFA was approximately 884,100 square meters for active projects and pre-revenue stage projects. Below is a summary of all projects at Xinyuan that are in the planning stage:



Unsold GFA

(m2 000)


Pre sales
Scheduled

Newly Acquired Zhengzhou Land

(Zhengzhou XIN City)


207.4


Q3 2013

Newly Acquired Xuzhou Land

(Xuzhou Colorful City)


117.5


Q4 2013

Newly Acquired Suzhou Land

(Suzhou XIN City)


126.3


Q3 2013

Newly Acquired Beijing Land

(Beijing Xindo Park)


117.7


Q4 2013

Newly Acquired New York Land


37.1


Total projects under planning



606.0

Total active projects


278.1


Total all Xinyuan projects


884.1


Third Quarter and Full Year 2013 Outlook

The Company projects higher sequential results in the third quarter of 2013 based on launch of presales activity on two new projects: Zhengzhou XIN City and Suzhou XIN City.

The Company expects third quarter contract sales to reach approximately US$200 to US$220 million. Third quarter revenue is expected to total US$210to US220 million while net income is projected at US$25 to US$30 million.

With the fourth quarter addition of Xuzhou Colorful City and Beijing Xindo Park to the Company's active project list, the Company has raised its full year 2013 financial forecast.

Contract sales for the full year 2013 are expected to exceed US$880 million. Revenue under the percentage of completion method is expected to exceed US$820 millionwhile net income is expected to exceed US$110 millionfor the year.

Conference Call Information

Xinyuan's management will host an earnings conference call on August 8that 8:00 a.m.U.S. Eastern Time. Listeners may access the call by dialing 1-719-325-2448. A webcast will also be available through the Company's investor relations website at http://www.xyre.com. Listeners may access the replay by dialing 1-858-384-5517, access code: 7709905.

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a developer of large scale, high quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community lifestyle. In China, Xinyuan primarily focuses its development projects in Tier II cities, including Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Xuzhou and Chengdu. The Company's U.S. development arm, XIN Development Group International, Inc. ("XIN") is a pioneer amongst Chinese real estate residential developers, entering the US market in 2012. Xinyuan is the first real estate developer from Chinato be listed on the New York Stock Exchange. 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 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; 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 Chinaand, to the extent we expand operations into other countries, such as the U.S., the laws, regulations and policies of such countries; 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 China, particularly Tier II and Tier III cities, and in our targeted areas in the U.S.; fluctuations in general economic and business conditions in China, and, to the extent we expand operation into other countries, such as the U.S., the general economic and business conditions in such countries; 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, 2012. 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:

Mr. Tom Gurnee
Chief Financial Officer
Tel: [phone]
Email: [e-mail]

Ms. Helen Zhang
Financial Controller
Tel: [phone]
Email: [e-mail]

ICR, LLC
In U.S.: [phone]
In China: [phone]
Email: [e-mail]

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



June 30,



March 31,



June 30,



2013



2013



2012



(unaudited)



(unaudited)



(unaudited)







Total revenue


198,484



169,429



253,059







Total cost of revenue


(128,598)



(113,762)



(175,569)

Gross profit


69,886



55,667



77,490







Selling and distribution expenses


(2,860)



(2,788)



(4,825)

General and administrative expenses


(11,877)



(9,574)



(10,974)







Operating income


55,149



43,305



61,691







Interest income


2,877



1,635



1,923

Interest expense


(4,844)



-



-







Income from operations before income taxes


53,182



44,940



63,614







Income taxes


(13,820)



(18,325)



5,752







Net income


39,362



26,615



69,366

Net income attributable to non-controlling interest


-



-



410

Net income attributable to Xinyuan Real Estate Co.,
Ltd. shareholders


39,362



26,615



68,956







Earnings per ADS:






Basic


0.55



0.37



0.95

Diluted


0.54



0.37



0.94

ADS used in computation:






Basic


71,256



71,043



72,955

Diluted


72,242



72,292



73,480











XINYUAN REAL ESTATE CO., LTD. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All US$ amounts and number of shares data in thousands, except per share data)








Six months ended





June 30,



June 30,



2013



2012



(unaudited)



(unaudited)

Revenue


367,913



425,643





Cost of revenue


(242,360)



(298,926)

Gross profit


125,553



126,717





Selling expenses


(5,648)



(8,297)

General and administrative expenses


(21,451)



(19,467)





Operating income


98,454



98,953





Interest income


4,512



3,251

Interest expense


(4,844)



-





Income from operations before income taxes


98,122



102,204





Income taxes


(32,145)



(9,593)





Net income


65,977



92,611

Less: net income attributable to non-controlling interest


-



1,111





Net income attributable to shareholders


65,977



91,500





Earnings per share:




Basic


0.93



1.25

Diluted


0.91



1.25

Shares used in computation:




Basic


71,219



72,945

Diluted


72,314



73,200



XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(All US$ amounts and number of shares data in thousands)





June 30,



March 31,



December 31,




2013



2013



2012




(unaudited)



(unaudited)



(audited)

ASSETS







Current assets






Cash and cash equivalents


635,800



442,122



496,205

Restricted cash


238,926



184,260



145,730

Accounts receivable


2,312



4,612



3,076

Other receivables


11,445



9,103



27,413

Other deposits and prepayments


231,289



212,071



105,427

Advances to suppliers


18,597



17,206



11,028

Real estate property held for sale


6,498



10,313



11,191

Real estate property development completed


4,780



2,011



3,158

Real estate property under development


605,673



620,168



722,819

Other current assets


-



7



295








Total current assets


1,755,320



1,501,873



1,526,342








Real estate properties held for lease, net


16,360



22,894



23,204

Property and equipment, net


1,850



1,571



1,576

Restricted deposit


11,362



11,198



11,169

Other long-term investment


247



242



242

Deferred tax asset


1,242



1,660



1,599

Deferred charges


4,834



-



-

Other assets



2,013



2,073



2,249








TOTAL ASSETS


1,793,228



1,541,511



1,566,381








LIABILITIES AND






SHAREHOLDERS' EQUITY






Current liabilities






Accounts payable


171,677



179,931



241,894

Short-term bank loans and other debt


129,198



157,197



113,066

Customer deposits


78,636



57,238



50,201

Income tax payable


68,972



81,431



75,877

Deferred tax liabilities


33,029



15,516



13,612

Other payables and accrued liabilities


57,978



65,397



64,721

Payroll and welfare payable


7,500



2,942



9,663

Current portion of long-term bank loans and other debt


97,917



123,874



166,082








Total current liabilities


644,907



683,526



735,116















Non- current liabilities






Long-term bank loans


83,554



35,000



35,000

Deferred tax liabilities


6,733



6,253



5,885

Unrecognized tax benefits


7,279



8,866



8,842

Other long term debt


200,000



-



-

TOTAL LIABILITIES


942,473



733,645



784,843








Shareholders' equity






Common shares


15



15



15

Treasury shares


(19,434)



(13,667)



(13,667)

Additional paid-in capital


513,904



512,692



511,964

Statutory reserves


49,622



49,622



49,622

Retained earnings


306,648



259,204



233,604

TOTAL EQUITY


850,755



807,866



781,538








TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY


1,793,228



1,541,511



1,566,381

SOURCE Xinyuan Real Estate Co., Ltd.

[startvestor]

Antwort auf Beitrag Nr.: 45.224.209 von chonz am 10.08.13 23:10:50

Ich fasse die Zahlen für Q2/2013 mal zusammen:

Verkäufe:       196 Mio. (-24% Y/Y)

m2-Verkauf:     147.200 (-24,3%)

Umsatz:         198,5 Mio. USD (-21,6% Y/Y) (nach Prozent-Fertigstellung)

Gross Profit:   69,9 Mio. USD (77,5)

Gross Margin:   35,2% (30,6%)

op. Gewinn:     55,2 Mio. (61,7)

Gewinn:         39,4 Mio (-43,2%)

Nettomargin:    19,8% (27,4%)

EPS:            0,54 USD (vs. 0,94)

Der Vergleich zum Vorjahr hinkt allerdings insbesondere, da XinYuan momentan in der Übergangsphase zu neuem Wachstum ist. Q/Q gabs z.B. beim Gewinn eine Steigerung von 48%. Der Ausblick für 2013 wurde angehoben:

Verkäufe:  880 Mio.

Umsatz:    820 Mio.

Gewinn:    110 Mio.

Die Bilanz bleibt super:

Cash (incl. rest.):  874,7 Mio. (626,4 Mio. USD Q/Q)

Häuser in Entw.:     605,7 Mio. (620,2)

Bank-Schulden:       510,7 Mio. USD

Verbindlichkeiten:   942,5 Mio.

EK:                  850,8 Mio. USD (808)

Bilanzsumme:         1.793 Mio. USD



Auftragsbestand:     884.100 m2 (278,1 aktiv und 606 plan)

Auch charttechnisch ist alles o.k., nun kann es Richtung 6 USD gehen.



Die Marketcap von ca. 380 Mio. USD ist weiter sehr gering gegenüber den Bilanzdaten.

[chonz]

http://seekingalpha.com/article/1619052-xinyuan-real-estate-…


Das liest man gerne

[startvestor]

Der Kauf durch TPG für nur 5,48 USD / Aktie hat die Leute verschreckt, die Amis haben ein China-Trauma. Hier gibts Hintergründe:

http://seekingalpha.com/article/1662282-why-xinyuan-needs-th…

[chonz]

Xinyuan Real Estate Co., Ltd. (ADR) : Xinyuan Real Estate Listed on Forbes Asia's "Best Under A Billion" List
10/22/2013 | 08:31am US/Eastern
Recommend:
0

BEIJING, Oct. 22, 2013 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (NYSE: XIN, "Xinyuan" or "the Company"), a real estate developer with a focus on high growth cities in China, today announced that the Company has been listed on Forbes Asia's "Best Under A Billion" list in 2013. This is the first year in which the Company debuts on the list.

The "Best Under A Billion" list is published by Forbes Asia to recognize 200 of the best small and midsized listed companies in Asia Pacific with annual revenue under $1 billion. To qualify for the selection, companies must have revenue between $5 million and $1 billion, positive net income and be publicly traded for at least a year. From a universe of 15,000 companies, qualified candidates are screened on sales growth, earnings growth and return on equity. The result is a final list featuring 200 exceptional small and midsized companies from Asia Pacific.

Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are honored that Forbes Asia has recognized Xinyuan as one of Asia's 200 'Best Under A Billion' companies. This recognition reflects our substantial business achievements and strong growth potential in the real estate development industry."

For the complete list of companies on Forbes Asia's "Best Under A Billion" list, please visit
http://www.forbes.com/asia200/list/.

[startvestor]

In den letzten Wochen hat XinYuan den Cash-Überhang ziemlich abgebaut, zuletzt durch den Kauf einer anderen Immobilienfirma in Kunshan. Das dürfte einige Zweifler verstummen lassen.

[startvestor]

Die Zahlen für Q3/2013 kamen nicht so gut an, waren aber o.k.:

Verkäufe:         243,7 Mio. (+6% Y/Y)

m2-Verkauf:       151.900 (-11%)

Preis/m2:	  1.604 (1.346)        

Umsatz:           240,7 Mio. USD (+6,5% Y/Y) (nach Prozent-Fertigstellung)

Gross Profit:     78,5 Mio. USD (65,5)

Gross Margin:     32,6% (29%)

op. Gewinn:       55,5 Mio. (50,6)

Gewinn:           28,7 Mio (31,9 Mio.)

Nettomargin:      11,9% (14,1%)

EPS:              0,39 USD (vs. 0,44)

Der Gewinn hat durch höhere SGA, aber v.a. durch höhere Steuern gelitten.

Die Bilanz ist weiter stark:

Cash (u. restr. C.):  796 Mio. (874,7 Mio. USD Q/Q)

Häuser in Entw.:      534,7 Mio. (605,7)

Bank-Schulden:        515,6 Mio. USD

Verbindlichkeiten:    1.036 Mio.

EK:                   917 Mio. USD (850,8)

Bilanzsumme:          1.95 Mrd. USD



Auftragsbestand:     1.581.100 m2 (440,2 aktiv und 1.140,9 Plan)

Das KGV für 2013 dürfte nun bei ca. 4,4 liegen.

[startvestor]

Die Zahlen für Q4/2013 waren normal, aber Shorties und Verkäufer dominieren trotzdem:

Verkäufe:         377,5 Mio. USD (+100,4% Y/Y), Q3: 243,7

m2-Verkauf:       241.700 (+82,1%)

Preis/m2:         1.562 (1.420), Q3: 1.604

         

Umsatz:           289,2 Mio. USD (+9,9% Y/Y) (nach Prozent-Fertigstellung), Q3: 240,7

Gross Profit:     82,6 Mio. USD (87,8)

Gross Margin:     28,6% (33,4%)

op. Gewinn:       47,4 Mio. (73,7)

Gewinn:           26 Mio (33,6 Mio.), Q3: 28,7

Nettomargin:      9% (12,8%)

EPS:              0,29 USD (vs. 0,47), Q3: 0,39

Die Margen sind unter Druck. Höhere Kosten bei den neuen Projekten, mehr Personal fürs Wachstum und mehr Werbung.

In der Bilanz stehen nun mehr Schulden:

Cash (u. restr. C.):  848,7 Mio. (796 Mio. USD Q/Q)

Häuser in Entw.:      919,8 Mio. (534,7)

Bank-Schulden:        811 Mio. USD

Verbindlichkeiten:    1,42 Mrd.

EK:                   946,9 Mio. USD (917)

EK/Aktie:	      11,93 USD

Bilanzsumme:          2,37 Mrd. USD



Auftragsbestand:      2,24 Mio. m2 (614,6 aktiv und 1.624 Plan)

Der Ausblick für Q1:

Verkäufe:  225-230 Mio. USD

Umsatz:    195-200 Mio.

Gewinn:    9-11 Mio.

und 2014:

Verkäufe:  1.640 Mio. USD

Umsatz:    1.230-1.280 Mio.

Gewinn:    120-125 Mio.

KGV 2013 bei 2,8. Marketcap bei 415 Mio. (vollverwässert). Buchwert je Aktie bei ca. 12 USD. Das gibts nur bei chin. Auslandsaktien. Der Kurs kann aber durchaus bis 4 USD weiterfallen. Dann dürfte aber ein Nachkauf sinnvoll sein, zumal dann wieder mal Aktienrückkäufe einsetzen dürften.

[startvestor]

Die Zahlen für Q1/14 zeigten ein stark verringerten Gewinn:

Umsatz:           226,4 Mio. USD (+33,6% Y/Y) (nach Prozent-Fertigstellung), Q4: 289,2

Gross Profit:     59,4 Mio. USD (55,7)

Gross Margin:     26,2% (32,9%)

op. Gewinn:       35,1 Mio. (43,3)

Gewinn:           10,1 Mio (-62%), Q4: 31,6

Nettomargin:      4,4% (10,9%)

EPS:              0,12 USD (vs. 0,37), Q4: 0,36

Der Kurs ist nun unter 4 USD. Der Buchwert der Aktie liegt knapp unter 12, aber charttechnisch könnte es auch auf 2 USD crashen,falls die Amis durchdrehen.

[startvestor]

Desaströse Zahlen für Q2/14:

Verkäufe:         198,7 Mio. USD (+1,4% Y/Y), Q1: 273,9

m2-Verkauf:       149.600 (-1,6%), Q1: 127.100

Preis/m2:         1.329 (1.332), Q4: 2.155



Umsatz:           166,8 Mio. USD (-16% Y/Y) (nach Prozent-Fertigstellung), Q1: 226,4

Gross Profit:     43,3 Mio. USD (69,9)

Gross Margin:     25,9% (35,2%)

SGA-Quote:        21,4% (7,4%) (Sondereffekte, v.a. Boni und Marketing)

op. Gewinn:       7,6 Mio. (55,1), Q1: 35,1

Gewinn:           6,8 Mio (-82,6%), Q1: 10,1

Nettomargin:      4,1% (19,8%)

EPS:              0,08 USD (vs. 0,54), Q1: 0,12

[startvestor]

Antwort auf Beitrag Nr.: 47.536.069 von startvestor am 16.08.14 16:58:55

Miese Zahlen für Q3/2014:

Verkäufe:         167,7 Mio. USD (-31,2% Y/Y), Q2: 198,7

m2-Verkauf:       100.300 (-34%), Q2: 149.600

Preis/m2:         1.672 (1.604), Q2: 1.329



Umsatz:           163,6 Mio. USD (-32% Y/Y) (nach Fertigstellungsgrad), Q2: 166,8

Gross Profit:     43,5 Mio. USD (78,5)

Gross Margin:     26,6% (32,6%)

SGA:              32,1 Mio. (23)

SGA-Quote:        19,6% (9,6%) (Sondereffekte, v.a. Boni und Marketing)

op. Gewinn:       11,3 Mio. (55,5), Q2: 7,6

Gewinn:           7,8 Mio (-72,8%), Q2: 6,8

Nettomargin:      4,8% (11,9%)

EPS:              0,10 USD (vs. 0,39), Q2: 0,08

[startvestor]

Antwort auf Beitrag Nr.: 48.331.168 von startvestor am 15.11.14 20:32:08

Q4/2014

Verkäufe:         402,6 Mio. USD (+6,6% Y/Y), Q3: 167,7

m2-Verkauf:       252.200 (+4,3%), Q3: 100.300

Preis/m2:         1.596 (1.562), Q3: 1.672



Umsatz:           362,9 Mio. USD (+25,5% Y/Y) (nach Fertigstellungsgrad), Q3: 163,6

Gross Profit:     96,1 Mio. USD (94,9)

Gross Margin:     26,6% (32,8%)

SGA:              53,1 Mio. (35,1)

SGA-Quote:        14,6% (12,1%) (v.a. Boni und Marketing)

op. Gewinn:       43 Mio. (59,8), Q3: 11,3

EBT:              36,5 Mio. (57,9)

Gewinn:           23,8 Mio (-24,7%), Q3: 7,8

Gewinn Akt.:      25,4 Mio. (31,6), Q3: 7,8

Nettomargin:      6,6% (10,9%)

EPS:              0,34 USD (vs. 0,36), Q3: 0,10