 | |
| Company type | Public |
|---|---|
| Traded as | NYSE: XIN |
| Industry | Real estate development Property management |
| Founder | Zhang Yong Yang Yuyan |
| Headquarters | Beijing, China |
| Area served | Beijing, Hefei, Jinan, Kunshan, Suzhou, Zhengzhou, Xuzhou and Chengdu |
| Key people | Zhang Yong (Chairman) Zhang Lizhou (CEO) |
| Revenue |  $449 million - 2009 |
| Net income | $42.4 million - 2009 |
| Total assets | $881.7 million - 2009 |
| Total equity | $446.9 million - 2009 |
| Subsidiaries | See below. |
| Website | www.xyre.com |
Xinyuan Real Estate Co., Ltd. (Chinese: 鑫苑置业; pinyin: Xīnyuàn Zhìyè) is a Chinese real estate company.
Xinyuan has traditionally engaged principally in residential real estate development and the provision of property management services, focusing on Tier II cities in China.
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.
Xinyuan's holding company is based in the Cayman Islands. On 18 April 2008, Xinyuan's corporate headquarters was relocated from Zhengzhou to Beijing. 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. Underwritten by Merrill Lynch, Deutsche Bank Securities, and Allen & Co, Xinyuan's initial public offering raised US$245m in capital. China Analyst reports that Xinyuan's stock is the 2nd fastest growing within its respective industry as of March 2010.
Xinyuan was selected as one of "China's Sixty Best Employers for 2007" in a survey conducted by China Central Television. 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.
In 2009, Xinyuan purchased a portion of the real estate portfolio of prolific Brooklyn real estate developer Isaac Hager who declared bankruptcy. In 2012, the company entered the United States real estate market as XIN Development Group International, Inc. With a development in Brooklyn, New York, it became the first Chinese developer with a major project in the United States.
In 2017, Lizhou Zhang succeeded Xinqi Wang as CEO.
On January 7, 2024, the company's US division declared Chapter 11 bankruptcy protection.
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.
Joint ventures
Xinyuan has joint ventures with Blue Ridge Capital, China Construction Bank, and Equity International.
Projects
As of 2007, Xinyuan had 13 completed projects and 14 in development or planning.
| Name | Location | Total site area | Gross floor area | Status |
|---|---|---|---|---|
| Kunshan International City Garden | Kunshan, Jiangsu | 200,008 m (2,152,870 sq ft) | 497,041 m (5,350,100 sq ft) | Under construction (2012) |
| Zhengzhou Central Garden (East and West) | Zhengdong District, Zhengzhou, Henan | 140,313 m (1,510,320 sq ft) | 355,590 m (3,827,500 sq ft) | Completed |
| Jinan City Family | Huaiyin District, Jinan, Shandong | 47,411 m (510,330 sq ft) | 61,065 m (657,300 sq ft) | Completed |
| Xuzhou Xinyuan Colorful Garden | Quanshan District, Xuzhou, Jiangsu | 46,777 m (503,500 sq ft) | 102,097 m (1,098,960 sq ft) | Under construction (2012) |
| Zhengzhou City Family | Guancheng District, Zhengzhou, Henan | 21,380 m (230,100 sq ft) | 39,226 m (422,230 sq ft) | Completed |
| Zhengzhou City Manor | Erqi District, Zhengzhou, Henan | 63,089 m (679,080 sq ft) | 118,716 m (1,277,850 sq ft) | Completed |
| Zhengzhou Xinyuan Splendid | Jinshui District, Zhengzhou, Henan | 192,885 m (2,076,200 sq ft) | 386,332 m (4,158,440 sq ft) | Completed |
| Longhai Star Garden | Zhongyuan District, Zhengzhou, Henan | 11,719 m (126,140 sq ft) | 39,975 m (430,290 sq ft) | Completed |
| Chengdu Xinyuan Splendid I | Jinjiang District, Chengdu, Sichuan | 34,007 m (366,050 sq ft) | 231,002 m (2,486,480 sq ft) | Completed |
| Chengdu Xinyuan Splendid II | Jinjiang District, Chengdu, Sichuan | 30,497 m (328,270 sq ft) | 216,900 m (2,335,000 sq ft) | Completed |
| Hefei Wangjiang Garden | Baohe District, Hefei, Anhui | 51,939 m (559,070 sq ft) | 145,452 m (1,565,630 sq ft) | Completed |
| Suzhou International City Garden | New District, Suzhou, Jiangsu | 119,089 m (1,281,860 sq ft) | 205,591 m (2,212,960 sq ft) | Completed |
| Suzhou Colorful Garden | Gusu District (formerly Jinchang District), Suzhou, Jiangsu | 81,506 m (877,320 sq ft) | 190,000 m (2,000,000 sq ft) | Completed |
| Suzhou Lake Splendid | Wuzhong District, Suzhou, Jiangsu | 130,945 m (1,409,480 sq ft) | 198,113 m (2,132,470 sq ft) | Completed |
| Jinan Xinyuan Splendid | Jinan, Shandong | 200,180 m (2,154,700 sq ft) | 526,990 m (5,672,500 sq ft) | Under construction (2012) |
| Jinan International City Garden | Jinan, Shandong | 93,928 m (1,011,030 sq ft) | 292,200 m (3,145,000 sq ft) | Completed |
| Jinan Elegant Scenery | Tianqiao District, Jinan, Shandong | 61,500 m (662,000 sq ft) | 110,000 m (1,200,000 sq ft) | Completed |
| Zhengzhou Commercial Plaza | Jinshui District, Zhengzhou, Henan | 8,410 m (90,500 sq ft) | 67,578 m (727,400 sq ft) | Completed |
| Zhengzhou Xinyuan Colorful Garden | Erqi District, Zhengzhou, Henan | 74,462 m (801,500 sq ft) | 191,891 m (2,065,500 sq ft) | Completed |
| Zhengzhou Yipin Xiangshan Phase I | Huiji District, Zhengzhou, Henan | 57,289 m (616,650 sq ft) | 94,528 m (1,017,490 sq ft) | Completed |
| Zhengzhou Yipin Xiangshan Phase II | Huiji District, Zhengzhou, Henan | 81,345 m (875,590 sq ft) | 198,543 m (2,137,100 sq ft) | Under construction (2012) |
| Zhengzhou Century East A | New East District, Zhengzhou, Henan | 22,418 m (241,310 sq ft) | 77,341 m (832,490 sq ft) | Under construction (2012) |
| Zhengzhou Century East B | New East District, Zhengzhou, Henan | 51,372 m (552,960 sq ft) | 166,468 m (1,791,850 sq ft) | Under construction (2012) |
| Zhengzhou Century Royal Place | Zhengzhou, Henan | 45,716 m (492,080 sq ft) | 132,238 m (1,423,400 sq ft) | Under construction (2012) |
| Zhengzhou Modern City | Erqi District, Zhengzhou, Henan | 60,556 m (651,820 sq ft) | 256,905 m (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
- ^ "Xinyuan Real Estate". Forbes. Retrieved 10 July 2018.
- ^ "Xinyuan Real Estate / Q4 2009 Earnings Release". Retrieved 2010-03-13.
- Duprey, Rich (2010-03-11). "Build Your Fortune With These Winners". The Motley Fool. Retrieved 2010-03-13.
- Yuk, Pan Kwan (May 9, 2013). "Xinyuan Real Estate: developing in the US with a US look". Financial Times. Retrieved 11 July 2018.
- ^ "Xinyuan Real Estate / Awards & Milestones". Archived from the original on December 7, 2008. Retrieved 2010-03-13.
- "Forte Group expands land reserve in Shanghai SHANGHAI".
- ^ "Xinyuan Real Estate discloses IPO terms". Associated Press. 2007-11-26. Archived from the original on July 22, 2011. Retrieved 2010-03-13.
- ^ Louis, Brian (2007-12-12). "Developer Xinyuan Rises in First Day of Trading". Bloomberg. Retrieved 2010-03-13.
- Jonas, Ilaina; Lilla Zuill; Jacqueline Wong (2007-12-12). "China's Xinyuan Real Estate IPO raises $245 mln". Reuters.
- "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.
- 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.
- Yuk, Pan Kwan (May 7, 2013). "China property developers seek US growth". Financial Times. Retrieved 11 July 2018.
- Hiten Samtani; E.B. Solomont (December 13, 2017). "Xinyuan, pioneering Chinese developer in NYC, dismantles local team". The Real Deal. Retrieved 11 July 2018.
- "China builder Xinyuan's US division files for Chapter 11 bankruptcy". Bloomberg Law. January 7, 2024. Retrieved January 8, 2024.
- "Xinyuan Real Estate / Organizational Structure". Archived from the original on December 10, 2008. Retrieved 2010-03-16.
