BEIJING, Oct. 11, 2019 /PRNewswire/ -- Xinyuan Real Estate
Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), an NYSE-listed
real estate developer and property manager primarily in
China and in other countries,
today announced the listing of its property management service
entity, Xinyuan Property Management Service (Cayman) Ltd.
("Xinyuan Service"), on the Hong
Kong Stock Exchange (HKEX).
Launched in 1998, as the end of March 31,
2019, Xinyuan Service has a
total of 30.01 millon square meters of contracts signed across the
country, including Zhengzhou,
Jinan, Qingdao, Beijing, Shanghai, Tianjin, Kunshan, Suzhou, Guangzhou, Foshan, Zhuhai, Xi'an, Chengdu, Changsha, Dalian, Hefei, Sanya, Taicang, Xuzhou, Yancheng,
Xinxiang, Jiaozuo, Rongyang, Gongyi, Sanmenxia, Hebi, Puyang,
Shangqiu, Luohe, Xinyang, Zhumadian, Pingdingshan, Nanyang,
Xinzheng, Zhoukou and Xuchang. Among the contracts signed, a total
of 15.80 million square meters in 28 cities are currently under
management. Xinyuan Service will
trade on the HKEX under code '01895' beginning October 11, 2019, with 25% of the outstanding
shares issued to new investors. The initial public offering price
for each share was HK$2.08, resulting
in a market valuation of HK$1.04
billion. After the listing, Xinyuan Real Estate will remain
the largest shareholder with 60% of total shares held. Xinyuan Service will be consolidated on Xinyuan
Real Estate's balance sheet when reporting future financial
results.
Mr. Yong Zhang, Xinyuan's
Chairman and CEO, stated, "The listing of Xinyuan Service on the HKEX, a leading
international capital markets exchange, is a significant milestone
and marks a new chapter of growth for the company. Our decision to
list Xinyuan Service as a separate
entity on the HKEX is an extension of the strategic realignment of
our business, which we anticipate will contribute to strengthen our
core real estate development capability. We believe this decision
will bring meaningful benefits to our businesses, our customers,
and our shareholders."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real
estate developer and property manager primarily in China and recently in other countries. In
China, Xinyuan develops and
manages large scale, high quality real estate projects in over ten
tier one and tier two cities, including Beijing, Shanghai, Zhengzhou, Jinan, Xi'an,
and Suzhou. Xinyuan was one of the first Chinese real estate
developers to enter the U.S. market and over the past few years has
been active in real estate development in New York. Xinyuan aims to provide comfortable
and convenient real estate related products and services to
middle-class consumers. 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. 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. 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.
For more information, please contact:
In China:
Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
ICR, LLC
In U.S.: +1-646-308-1472
Email: William.zima@icrinc.com
Media:
Edmond Lococo
In China: +86 (10) 6583-7510
Email: Edmond.Lococo@icrinc.com
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SOURCE Xinyuan Real Estate Co., Ltd.