Xinyuan Real Estate
TypePublic
NYSE: XIN
IndustryReal estate development
Property management
FounderZhang Yong
Yang Yuyan
HeadquartersBeijing, China
Area served
Beijing, Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Xuzhou and Chengdu[1]
Key people
Zhang Yong (Chairman)
Zhang Lizhou (CEO)
RevenueIncrease $449 million - 2009[2]
Increase $42.4 million - 2009[2]
Total assets$881.7 million - 2009[2]
Total equity$446.9 million - 2009[2]
SubsidiariesSee below.
Websitewww.xyre.com

Xinyuan Real Estate Co., Ltd. (Chinese: 鑫苑置业; pinyin: Xīnyuàn Zhìyè) is a Chinese real estate company.[3]

Xinyuan has traditionally engaged principally in residential real estate development and the provision of property management services, focusing 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 business model emphasizes high asset turnover, efficient working capital management and strict cost control.

Xinyuan's projects in China extend to 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'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] On 12 December 2007, Xinyuan made an initial public offering, becoming 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]

Xinyuan was selected as one of "China's Sixty Best Employers for 2007" in a survey conducted by China Central Television.[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]

In 2009, Xinyuan purchased a portion of the real estate portfolio of prolific Brooklyn real estate developer Isaac Hager who declared bankruptcy.[11] In 2012, the company entered the United States real estate market as XIN Development Group International, Inc.[1] With a development in Brooklyn, New York, it became the first Chinese developer with a major project in the United States.[12]

In 2017, Lizhou Zhang succeeded Xinqi Wang as CEO.[13]

On January 7, 2024, the company's US division declared Chapter 11 bankruptcy protection.[14]

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.[15]

Joint ventures

Xinyuan has joint ventures with Blue Ridge Capital, China Construction Bank, and Equity International.[5]

Projects

As of 2007, Xinyuan had 13 completed projects and 14 in development or planning.[8]

NameLocationTotal site areaGross floor areaStatus
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

  1. 1 2 "Xinyuan Real Estate". Forbes. Retrieved 10 July 2018.
  2. 1 2 3 4 "Xinyuan Real Estate / Q4 2009 Earnings Release". Retrieved 2010-03-13.
  3. ↑ Duprey, Rich (2010-03-11). "Build Your Fortune With These Winners". The Motley Fool. Retrieved 2010-03-13.
  4. ↑ Yuk, Pan Kwan (May 9, 2013). "Xinyuan Real Estate: developing in the US with a US look". Financial Times. Retrieved 11 July 2018.
  5. 1 2 3 4 5 "Xinyuan Real Estate / Awards & Milestones". Archived from the original on December 7, 2008. Retrieved 2010-03-13.
  6. ↑ "Forte Group expands land reserve in Shanghai SHANGHAI".
  7. 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.
  8. 1 2 Louis, Brian (2007-12-12). "Developer Xinyuan Rises in First Day of Trading". Bloomberg. Retrieved 2010-03-13.
  9. ↑ Jonas, Ilaina; Lilla Zuill; Jacqueline Wong (2007-12-12). "China's Xinyuan Real Estate IPO raises $245 mln". Reuters.
  10. ↑ "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.
  11. ↑ Mairer, Mark; Small, Eddie (May 1, 2018). "Isaac Hager's higher power - The developer is gaining outer borough market share, despite a trail of foreclosures and lawsuits from his early real estate days". The Real Deal.
  12. ↑ Yuk, Pan Kwan (May 7, 2013). "China property developers seek US growth". Financial Times. Retrieved 11 July 2018.
  13. ↑ Hiten Samtani; E.B. Solomont (December 13, 2017). "Xinyuan, pioneering Chinese developer in NYC, dismantles local team". The Real Deal. Retrieved 11 July 2018.
  14. ↑ "China builder Xinyuan's US division files for Chapter 11 bankruptcy". Bloomberg Law. January 7, 2024. Retrieved January 8, 2024.
  15. ↑ "Xinyuan Real Estate / Organizational Structure". Archived from the original on December 10, 2008. Retrieved 2010-03-16.
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