BEIJING, Feb. 9, 2018 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced its unaudited financial results for the fourth quarter ended December 31, 2017.

Fourth Quarter 2017 Highlights

  • Contract sales increased 72.4% to US$802.4 million from US$465.3 million in the fourth quarter of 2016 and increased 32.7% from US$604.5 million in the third quarter of 2017.
  • Total revenue increased 44.3% to US$729.0 million from US$505.3 million in the fourth quarter of 2016 and increased 51.1% from US$482.4 million in the third quarter of 2017.
  • Gross profit increased 40.3% to US$177.9 million, or 24.4% of total revenue, from US$126.8 million, or 25.1% of total revenue, in the fourth quarter of 2016 and increased 63.5% from US$108.8 million, or 22.6% of total revenue, in the third quarter of 2017.
  • Selling, General and Administrative ("SG&A") expenses as a percentage of total revenue increased to 10.6% from 10.4% in the fourth quarter of 2016 and is the same with 10.6% in the third quarter of 2017.
  • Net income increased 110.2% to US$35.1 million compared from US$16.7 million in the fourth quarter of 2016, and increased 112.7% from US$16.5 million in the third quarter of 2017.
  • Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.47 compared to US$0.18 in the fourth quarter of 2016 and US$0.22 in the third quarter of 2017.

Full Year 2017 Highlights

  • For the year ended December 31, 2017, contract sales increased 40.0% to US$2,466.0 million from US$1,761.7 million in 2016. GFA sales increased 21.1% to 1,363,600 square meters from 1,126,100 square meters in 2016.
  • Total revenues increased 26.8% to US$1,980.2 million from US$1,561.6 million in 2016.
  • Gross profit was US$457.3 million, or 23.1% of revenue in 2017, compared to a gross profit of US$358.0 million, or 22.9% of revenue in 2016.
  • SG&A expenses were US$211.6 million, or 10.7% of revenue in 2017, compared to US$178.6 million, or 11.4% of revenue in 2016.
  • Net income was US$79.8 million in 2017 compared to US$79.5 million in 2016. Diluted earnings per ADS were US$0.94 in 2017 compared to US$1.06 per ADS in 2016.

Mr. Yong Zhang, Xinyuan's Chairman, stated, "We are pleased to see strong growth in contract sales during the fourth quarter despite ongoing restrictive government policies impacting China's overall housing market. Thanks to steady demand at our active projects, contract sales in this quarter grew to US$802 million, or over RMB5.4 billion, above the high end of our guidance range of RMB4.6 billion to RMB 4.8 billion. This consequently drove our full-year contract sales growth to 40.0% from the previous year, above our guidance range of 35% to 37%."

"During the fourth quarter, we commenced pre-sales on two new projects in China -- Zhengzhou International New City III and Zhengzhou Fancy City II (North)," continued Mr. Zhang, "and we continued to take advantage of market conditions to increase our land bank with six projects for development and three construction management service projects are in the pipeline. These projects are mainly located in our existing markets, with solid track records, and we believe they will drive our long-term growth. Furthermore, our under planning stage projects in both China and the U.S. continue to proceed as expected."

"We remain cautious about the market as the government's restrictive policy continues, but we are optimistic about our ability to adjust to the environment and deliver strong financial results. We will continue to seek additional avenues of growth in our core development business as well as our new construction management service business. We remain committed to our shareholders and are proud to have achieved 24 consecutive quarterly dividends thus far," concluded Mr. Zhang.

Fourth Quarter 2017 Financial Results

Contract Sales

Contract sales in China totaled US$795.9 million in the fourth quarter compared to US$347.8 million in the fourth quarter of 2016 and US$597.5 million in the third quarter of 2017.

The Company's GFA sales in China were 443,600 square meters in the fourth quarter of 2017 compared to 222,000 square meters in the fourth quarter of 2016 and 369,500 square meters in the third quarter of 2017.

The average selling price ("ASP") per square meter sold in China was RMB12,118 (US$1,794) in the fourth quarter of 2017 compared to RMB10,401 (US$1,566) in the fourth quarter of 2016 and RMB10,994 (US$1,616) in the third quarter of 2017.

Contract sales in the United States totaled US$6.5 million in the fourth quarter of 2017.

The Company commenced pre-sales of two new projects in the fourth quarter of 2017, Zhengzhou International New City III and Zhengzhou Fancy City II (North), which contributed 23.6% and 24.8% of total GFA sales and total contract sales, respectively.

Breakdown of GFA Sales and ASPs by Project in China

Project

Q4 2016

Q3 2017

Q4 2017

Unsold

GFA

ASP

GFA

ASP

GFA

ASP

GFA

(m2, 000s)

(RMB)

(m2, 000s)

(RMB)

(m2, 000s)

(RMB)

(m2, 000s)

Xingyang Splendid II

21.4

6,213

1.4

6,973

1.6

11,650

55.8

Kunshan Royal Palace

2.0

23,137

6.2

25,987

1.3

24,232

2.0

Jinan Royal Palace

29.1

8,798

29.7

12,457

35.5

12,404

101.4

Xuzhou Colorful City

2.5

11,791

0.6

11,138

31.4

11,246

15.1

Chengdu Thriving Family

8.5

9,621

10.2

15,061

15.8

10,724

30.2

Changsha Xinyuan Splendid

12.1

9,461

7.4

13,726

4.2

18,379

13.0

Sanya Yazhou Bay No.1

2.7

12,723

1.6

15,313

2.7

27,497

61.7

Xi'an Metropolitan

19.4

10,781

7.2

9,497

21.2

9,719

36.8

Zhengzhou Xindo Park

22.8

6,419

8.1

8,552

11.3

11,110

17.7

Jinan Xin Central

9.0

12,214

9.2

12,151

16.9

11,477

38.7

Henan Xin Central I

5.5

9,673

28.5

4,093

9.5

12,890

15.8

Zhengzhou Fancy City I

2.8

14,594

18.8

5,155

2.0

14,004

8.4

Zhengzhou Fancy City II (South)

9.6

12,353

2.9

13,995

4.4

15,899

6.0

Tianjin Spring Royal Palace

2.4

6,934

6.2

11,617

2.5

12,590

150.1

Kunshan Xindo Park

0.6

19,060

11.5

22,198

12.7

22,311

18.2

Zhengzhou International New
City I

48.6

10,717

35.3

10,141

33.9

4,401

33.2

Henan Xin Central II

9.0

10,920

28.0

8,379

10.4

11,858

20.1

Xingyang Splendid III

-

-

47.4

7,217

18.9

7,237

39.3

Changsha Mulian Royal Palace

-

-

32.8

11,291

21.6

12,899

36.9

Zhengzhou International New
City II

-

-

69.0

13,783

76.7

13,711

30.3

Zhengzhou International New
City III

-

-

-

-

73.6

14,058

148.6

Zhengzhou Fancy City II (North)

-

-

-

-

31.2

9,499

77.2

Others

14.0

-

7.5

-

4.3

-

82.5

Total

222.0

10,401

369.5

10,994

443.6

12,118

1,039.0

Revenue

In the fourth quarter of 2017, the Company's total revenue increased 44.3% to US$729.0 million from US$505.3 million in the fourth quarter of 2016 and increased 51.1% from US$482.4 million in the third quarter of 2017.

Gross Profit

Gross profit for the fourth quarter of 2017 was US$177.9 million, or 24.4% of revenue, compared to a gross profit of US$126.8 million, or 25.1% of revenue, in the fourth quarter of 2016 and a gross profit of US$108.8 million, or 22.6% of revenue, in the third quarter of 2017.

Selling, General and Administrative Expenses

SG&A expenses were US$77.2 million for the fourth quarter of 2017 compared to US$52.3 million for the fourth quarter of 2016 and US$51.0 million for the third quarter of 2017. As a percentage of total revenue, SG&A expenses were 10.6% compared to 10.4% in the fourth quarter of 2016 and 10.6% in the third quarter of 2017.

Net Income

Net income for the fourth quarter of 2017 was US$35.1 million compared to US$16.7 million for the fourth quarter of 2016 and US$16.5 million for the third quarter of 2017. Net margin was 4.8% compared to 3.3% in the fourth quarter of 2016 and 3.4% in the third quarter of 2017. Diluted earnings per ADS were US$0.47 compared to US$0.18 per ADS in the fourth quarter of 2016 and US$0.22 per ADS in the third quarter of 2017.

Balance Sheet

As of December 31, 2017, the Company's cash and cash equivalents (including restricted cash) increased to US$1,481.0 million from US$1,187.2 million as of September 30, 2017. The strong cash position is attributable to Xinyuan's solid cash collection ability, which helped the Company's cash collection rate (cash collected from contract sales/total 2017 contract sales) reach around 90%, higher than industry average, even under the current restrictive policies.

Total debt outstanding was US$3,311.8 million, which reflected an increase of US$819.4 million compared to US$2,492.4 million at the end of the third quarter of 2017. The balance of the Company's real estate properties under development at the end of the fourth quarter of 2017 was US$2,001.2 million compared to US$2,080.5 million at the end of the third quarter of 2017.

Real Estate Project Status in China

Below is a summary table of projects that were active and available for sale in the fourth quarter of 2017.

Project

GFA

Contract Sales

 Project

Cost %
Complete


(m2, 000s)

(US$ millions)


Total Active
Project

Sold to
date

Total
Active
Project

Sales to
date

%
Sold



Xingyang Splendid II

137.2

81.4

139.7

72.4

51.8%

74.7%


Kunshan Royal Palace

280.6

278.6

473.2

467.5

98.8%

97.1%


Jinan Royal Palace

451.3

349.9

649.0

427.0

65.8%

79.1%


Xuzhou Colorful City

130.2

115.1

197.7

170.9

86.4%

87.0%


Chengdu Thriving Family

213.0

182.8

369.4

202.2

54.7%

98.7%


Changsha Xinyuan Splendid

251.6

238.6

339.2

253.5

74.7%

93.6%


Sanya Yazhou Bay No.1

117.6

55.9

293.3

125.9

42.9%

93.1%


Xi'an Metropolitan

290.6

253.8

449.6

278.6

62.0%

98.8%


Zhengzhou Xindo Park

144.4

126.7

195.6

143.8

73.5%

90.5%


Jinan Xin Central

194.4

155.7

353.8

240.3

67.9%

94.6%


Henan Xin Central I

262.2

246.4

357.2

293.7

82.2%

92.4%


Zhengzhou Fancy City I

166.7

158.3

233.5

201.8

86.4%

86.9%


Zhengzhou Fancy City II (South)

84.1

78.1

145.8

127.9

87.7%

74.8%


Tianjin Spring Royal Palace

279.7

129.6

492.9

159.6

32.4%

54.8%


Kunshan Xindo Park

89.0

70.8

270.1

211.0

78.1%

88.6%


Zhengzhou International New
City I

360.7

327.5

659.7

526.9

79.9%

50.1%


Henan Xin Central II

109.7

89.6

181.5

137.4

75.7%

65.4%


Xingyang Splendid III

121.1

81.8

130.3

86.9

66.7%

50.5%


Changsha Mulian Royal Palace

91.2

54.3

161.4

96.0

59.5%

66.4%


Zhengzhou International New
City II

176.0

145.7

381.0

296.5

77.8%

52.8%


Zhengzhou International New
City III

222.2

73.6

463.9

153.2

33.0%

44.9%


Zhengzhou Fancy City II (North)

108.5

31.3

162.7

43.9

27.0%

33.9%


Others remaining GFA

82.5

-

-

-

-

-


Total active projects

4,364.5

3,325.5

7,100.5

4,716.9

66.4%

79.8%


Xinyuan further enlarged its land bank in the fourth quarter to support its development in future years by acquiring six pieces of land with total GFA of 1,805,000 m2, four of which are projects that will be developed through cooperation with other companies.

As of December 31, 2017, the Company's total saleable GFA was approximately 4,935,600 square meters for active projects and under planning stage projects in China, about 223% of the same period last year. Below is a summary of all of the Company's planning stage projects:


Unsold GFA

(m2, 000s)

Pre-sales

Scheduled




Beijing Liyuan project

102.3

To be determined


Changsha Furong Thriving Family

73.0

2018Q1


Xian Aerospace City Project

226.0

2018Q3


Zhengzhou Heizhuzhuang Project

340.0

2018Q3


Kunshan Zhongyu Project

113.0

2018Q3


Zhengzhou International New City IV

787.3

2018Q2


Zhuhai Prince Project

70.0

To be determined


Qingdao New Project

380.0

2018Q3


Zhengzhou Fancy City III (new in this quarter)

83.0

To be determined


Zhengzhou Hangmei Project (new in this quarter)

231.0

To be determined


Zhengzhou Zhongmou Project (new in this quarter)

480.0

To be determined


Suzhou Yinhewan Project (new in this quarter)

75.0

To be determined


Suzhou Wujiang New City (new in this quarter)

63.0

To be determined


Chengdu Wucaicheng Project (new in this quarter)

873.0

To be determined


Total projects under planning

3,896.6



Total active projects

1,039.0



Total of all Xinyuan unsold projects in China

4,935.6



Update on Real Estate Projects in the United States

As of December 31, 2017, a total of 172 units out of 216 total units were sold and closed for the Company's Oosten project in Brooklyn, New York, with total revenue from this project reaching US$250.8 million. Number of units sold and revenue in 2017 were 66 and US$98.8 million respectively.

The Company expects foundation work to be completed in the first quarter of 2018 for its Hudson Garden project in Manhattan, New York. After optimizing the internal layout of the building, the Company now expects 87 units to be available for sale, an increase from the original 82.

The Company continues to execute on the planning, governmental approvals and pre-development activities of its ground-up development project in Flushing, New York. During the fourth quarter of 2017 and the beginning of 2018, the Landmark Protection Committee approved Xinyuan's landmark protection plan and awarded the Company a Certificate of Appropriateness. The Company expects to begin transferring and protecting crucial parts of the landmark RKO theater in the first quarter of 2018. The Company continues to follow the required governmental procedures for the future construction needs of this project.

Update on Construction Management Service Business

Leveraging its experience and resources in the industry to provide value to companies that would like to own buildings but have no property development expertise, Xinyuan started its construction management service business in the third quarter of 2017 with its first project in Guangzhou. Another three projects were added to the pipeline of this business section.

Under this asset-light business model, Xinyuan will charge a service fee for providing the construction management service. Xinyuan may also charge an interest spread if it provides financing support by means including, without limitation to, holding minority interest in the project through limited partnerships with financial institutions. This business section will supplement Xinyuan's core traditional project development business for future growth. Below is a summary of the Company's construction management service projects:


Project GFA

(m2, 000s)




Guangzhou Project

55.0


Zhengzhou Derun Project

1,029.0


Zhengzhou Qinglongshan Project

230.0


Shandong Heze Project

233.0


Total of all Xinyuan construction management service projects

1,547.0


Business Outlook

For 2018, the Company expects an increase in contract sales of about 10% and an increase in consolidated net income of 15%-20% over 2017. For first quarter of 2018, contract sales are expected to be on par with the prior year first quarter period and the Company expects significant pressure on earnings in the first quarter due to slower sales associated with Chinese New Year and increased interest expense associated with new debt from land acquisitions in late 2017.

Conference Call Information

The Company will hold a conference call at 8:00 am ET on February 09, 2018 to discuss fourth quarter 2017 results. Listeners may access the call by dialing:

US: 1-888-394-8218
International: 1-323-794-2149

A webcast will also be available through the Company's investor relations website at http://ir.xyre.com.

A replay of the call will be available through February 16, 2018 by dialing:

US: 1-844-512-2921
International: 1-412-317-6671
Access code: 8795287

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. These forward-looking statements includes statements about estimated financial performance and sales performance and activity, among others, and 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 successfully into new geographic markets and new business lines 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 the countries in which we operate; 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 the markets in which we operate; fluctuations in general economic and business conditions in the markets in which we operate; 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, 2016. 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:

Xinyuan Real Estate Co., Ltd.

Mr. Joe Xu
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com

ICR, LLC
In U.S.: +1-646-308-1472
In China: +86 (10) 6583-7511
Email: William.zima@icrinc.com

Media:
Edmond Lococo
In China: +86 (10) 6583-7510
Email: Edmond.Lococo@icrinc.com

 

 

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


December 31,


September,


December 31,


2017


2017


2016


(unaudited)


(unaudited)


(unaudited)










Total revenue


728,993



482,373



505,340










Total costs of revenue


(551,060)



(373,532)



(378,507)

Gross profit


177,933



108,841



126,833










Selling and distribution expenses


(28,885)



(18,890)



(22,059)

General and administrative expenses


(48,295)



(32,085)



(30,226)










Operating income


100,753



57,866



74,548










Interest income


4,431



5,454



6,107

Interest expense


(25,215)



(11,418)



(13,236)

Net realized gain on short-term investments


4,102



1,017



198

Unrealized (loss)/gain on short-term investments


(2,116)



2,434



(623)

Other income


2,170



(3)



459

Loss on extinguishment of debt


-



(15,880)



(12,124)

Exchange gains/(loss)


1,043



(189)



261

Share of loss of equity investees


(898)



(386)



(138)










Income from operations before income taxes


84,270



38,895



55,452










Income taxes


(49,202)



(22,366)



(38,735)










Net income


35,068



16,529



16,717

Net income attributable to non-controlling interest


(4,089)



(2,453)



(4,588)

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


30,979



14,076



12,129










Earnings per ADS:









Basic


0.48



0.22



0.18

Diluted


0.47



0.22



0.18

ADS used in computation:









Basic


64,754



64,333



65,960

Diluted


65,929



65,347



68,928


 

 

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)



Twelve months ended


December 31,


December 31,


2017


2016


(unaudited)


(audited)







Total revenue


1,980,244



1,561,625







Total costs of revenue


(1,522,981)



(1,203,636)

Gross profit


457,263



357,989







Selling and distribution expenses


(76,335)



(58,214)

General and administrative expenses


(135,220)



(120,416)







Operating income


245,708



179,359







Interest income


16,859



20,917

Interest expense


(66,153)



(29,857)

Net realized gain on short-term investments


7,964



2,506

Unrealized gain on short-term investments


2,096



235







Other income


2,326



4,540

Loss on extinguishment of debt


(15,880)



(12,124)

Exchange gains


757



459

Share of loss of equity investees


(1,792)



(325)







Income from operations before income taxes


191,885



165,710







Income taxes


(112,092)



(86,248)







Net income


79,793



79,462

Net income attributable to non-controlling interest


(18,198)



(6,485)







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


61,595



72,977







Earnings per ADS:






Basic


0.96



1.10

Diluted


0.94



1.06

ADS used in computation:






Basic


64,352



66,631

Diluted


65,820



68,827


 

 

XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

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



December 31,


September 30,


December 31,


2017


2017


2016


(unaudited)


(unaudited)


(audited)

ASSETS









Current assets









Cash and cash equivalents


1,119,456



806,459



578,244

Restricted cash


361,590



380,785



328,499

Short-term investments


55,597



49,813



39,311

Accounts receivable


102,282



53,294



32,704

Other receivables


72,550



45,199



31,822

Deposits for land use rights


227,182



82,041



153,252

Other deposits and prepayments


251,828



501,284



525,263

Advances to suppliers


46,983



47,235



27,457

Real estate properties development completed


827,342



538,476



477,179

Real estate properties under development


2,001,175



2,080,472



1,719,135

Amounts due from related parties


127,359



30,134



17,732

Amounts due from employees


2,174



3,399



621

Other current assets


597



995



226










Total current assets


5,196,115



4,619,586



3,931,445










Real estate properties held for lease, net


277,776



187,280



159,874

Property and equipment, net


32,386



32,783



34,090

Other long-term investment


425,037



12,671



242

Investment in joint ventures


407,532



12,824



7,556

Deferred tax assets


52,215



50,722



49,690

Deposits for land use rights


22,956



22,601



28,831

Amounts due from related parties


24,666



-



-

Other assets


43,248



71,193



24,717










TOTAL ASSETS


6,481,931



5,009,660



4,236,445

 

 

XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

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



December 31,


September 30,


December 31,


2017


2017


2016


(unaudited)


(unaudited)


(audited)

LIABILITIES AND









SHAREHOLDERS' EQUITY









Current liabilities









Accounts payable


826,296



472,000



524,663

Short-term bank loans and other debt


293,671



120,430



178,576

Customer deposits


438,695



318,973



150,545

Income tax payable


174,556



109,842



120,573

Other payables and accrued liabilities


303,761



250,848



199,661

Payroll and welfare payable


24,255



17,005



19,522

Current portion of long-term bank loans and other debt


1,602,321



1,295,942



704,695

Current maturities of capital lease obligations


4,472



4,403



3,923

Mandatorily redeemable non-controlling interests


15,593



13,184



12,614

Amounts due to related parties


128,178



105,931



66,230










Total current liabilities


3,811,798



2,708,558



1,981,002










Non- current liabilities









Long-term bank loans


11,019



-



235,885

Other long term debt


1,404,814



1,076,066



974,791

Deferred tax liabilities


134,575



179,789



93,107

Unrecognized tax benefits


20,418



20,495



20,492

Capital lease obligations, net of current maturities


11,415



12,314



15,016

Amounts due to related parties


26,432



1,849



-

TOTAL LIABILITIES


5,420,471



3,999,071



3,320,293










Shareholders' equity









Common shares


16



16



16

Treasury shares


(67,792)



(67,792)



(53,734)

Additional paid-in capital


546,340



545,464



538,414

Statutory reserves


101,691



96,371



95,973

Retained earnings


384,054



365,336



354,274

Accumulated other comprehensive income /(loss)


32,661



10,247



(34,683)



Total Xinyuan Real Estate Co., Ltd. shareholders' equity


996,970



949,642



900,260

Non-controlling interest


64,490



60,947



15,892

Total equity


1,061,460



1,010,589



916,152



TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY


6,481,931



5,009,660



4,236,445

 

Cision View original content:http://www.prnewswire.com/news-releases/xinyuan-real-estate-co-ltd-announces-fourth-quarter-2017-financial-results-300596339.html

SOURCE Xinyuan Real Estate Co., Ltd.


Source: Xinyuan Real Estate Co., Ltd.