Xinyuan Real Estate Co., Ltd. Releases 2023 Annual Report, Achieving Positive Net Profit Attributable to Shareholders
22 Maio 2024 - 7:11AM
Xinyuan Real Estate Co., Ltd. (“Xinyuan” or the “Company”)
(NYSE:XIN), an NYSE-listed real estate developer operating
primarily in China and also in other countries, announced that on
May 15, 2024, it filed its Annual Report on Form 20-F for the
fiscal year ended December 31, 2023 with the U.S. Securities and
Exchange Commission (the “SEC”). An electronic copy of the annual
report on Form 20-F can be accessed on Xinyuan’s investor relations
website at http://ir.xyre.com/financials/annual-reports and on the
SEC’s website at http://www.sec.gov.
The Company recognized revenue of US$804 million and achieved
positive net profit attributable to shareholders of US$40.28
million. Amidst the industry adjustment cycle and the background of
“ensuring property delivery”, the Company ended three consecutive
years of losses, demonstrating the resilience of the
enterprise.
- Improved Gross Profit Margin, Reduced Expenses, Effective
Proactive Control Measures
Despite a significant decline in sales revenue, the Company has
been actively optimized its organizational structure, strictly
controlled selling and administrative expenses, reduced various
ineffective costs, and implemented measures to improve efficiency
by managing financial debts through restructuring, reduction, and
deferral. The Company’s gross profit margin increased to 16.5% from
7.6% last year, achieving net profit attributable to shareholders
of US$40.28 million.
- Restructured Financial Debt, Reduced
Short-Term Repayment Pressure, Earning Valuable Time for
Recovery
As of December 31, 2023, the Company’s net assets amounted to
US$107 million, increased by US$24 million compared to last year;
total assets amounted to US$5.33 billion, decreased by US$517
million from the previous year. The total liabilities and
interest-bearing liabilities of the Company decreased by US$542
million and US$183 million compared to last year, respectively. In
August 2023, through an exchange offer of senior notes, the company
significantly lowered the interest rate of the senior notes and
extended the maturity date for the exchanged senior notes,
alleviating the Company’s pressure for short-term repayment.
About Xinyuan Real Estate Co.,
Ltd.
Xinyuan Real Estate Co., Ltd. (“Xinyuan”) is an
NYSE-listed real estate developer 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, Tianjin, Zhengzhou,
Jinan, Qingdao, Chengdu, Xi’an, Suzhou, Dalian, Zhuhai and Foshan.
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.
For more information, please
contact:
Xinyuan Real Estate Co., Ltd.Investor Relations
DepartmentTel: +86 (10) 8588-9200Email: irteam@xyre.com
Xinyuan Real Estate (NYSE:XIN)
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