Xinyuan Real Estate Named One of China's Top Twenty Real Estate Companies
January 16 2008 - 1:30AM
PR Newswire (US)
ZHENGZHOU, China, Jan. 16 /Xinhua-PRNewswire/ -- Xinyuan Real
Estate Co., Ltd. ("Xinyuan") (NYSE:XIN), a fast-growing residential
real estate developer that focuses on Tier II cities in China,
today announced it has been recognized as one of China's top twenty
real estate companies by China Real Estate Business, a prominent
Chinese real estate publication. The award was given to Chinese
real estate companies who have delivered exceptional performance
during the last twenty years. In addition, Mr. Yong Zhang,
Xinyuan's chairman and chief executive officer, was nominated as a
Top 20 Elite individual by the committee. Mr. Zhang commented, "We
are thrilled to be recognized as one of the top twenty real estate
companies in China. Our unique business model and track record of
success have established Xinyuan as one of the leading brand names
in China's Tier II real estate community. With around three million
square meters of projects under construction, under planning or
completed, and additional projects in the pipeline, we are
confident our scalable business will provide more and more Chinese
people with comfortable and convenient community lives." The award
and nomination were presented to Xinyuan and Mr. Zhang at the
annual meeting organized by China Real Estate Business and Sina.com
on January 12, 2008. As the first Chinese real estate developer to
list on the New York Stock Exchange, Xinyuan's asset-light business
model and focus on rapid asset turnover helped it gain recognition
as one of China's twenty best real estate 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 in China's Tier II cities with a comfortable and
convenient community life. 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 34 million people in 5 strategically
selected Tier II cities, including Chengdu, Hefei, Jinan, Suzhou
and Zhengzhou. Xinyuan has completed 13 projects with total GFA of
0.9 million square meters within the past 10 years and as of
September 30, 2007, Xinyuan had 7 projects under construction with
a total GFA of 0.8 million square meters and 7 additional projects
under planning with total GFA of 1.3 million square meters. With a
focus on high asset turnover, efficient working capital management
and strict cost control, Xinyuan is dedicated to bringing high
quality, affordable homes to China's middle income buyers. 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. All
information provided in this press release is as of January 16,
2008, and Xinyuan undertakes no duty to update such information,
except as required under the applicable law. For investor and media
inquiries, please contact: In China: Mr. Alex Gong Director of
Investor Relations Tel: +86-371-6565-1611 Email: Mr. Derek Mitchell
Ogilvy Public Relations Worldwide (Beijing) Tel: +86-10-8520-6284
Email: In the United States: Mr. Jeremy Bridgman Ogilvy Public
Relations Worldwide (New York) Tel: +1-212-880-5363 Email:
DATASOURCE: Xinyuan Real Estate Co., Ltd. CONTACT: In China - Mr.
Alex Gong, Director of Investor Relations, or +86-371-6565-1611, or
, or Mr. Derek Mitchell, Ogilvy Public Relations Worldwide
(Beijing), +86-10-8520-6284, or ; In the United States - Mr. Jeremy
Bridgman, Ogilvy Public Relations Worldwide (New York),
+1-212-880-5363, or Web site: http://www.xyre.com/
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