Company Also Receives Top 100 Chinese Real Estate Companies
with Greatest Growth Potential Award
ZHENGZHOU, China, April 17 /Xinhua-PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (“Xinyuan” or “the Company”) (NYSE: XIN), a fast-growing residential real estate developer with a focus on strategically selected Tier II cities in China, today announced it has been selected as a recipient of the 2008 Top 100 Chinese Real Estate Companies Award by the China Real Estate Top 10 Committee. Xinyuan has also been selected by the Committee as a recipient of the 2008 Top 100 Chinese Real Estate Companies with Greatest Growth Potential Award.
"We are delighted to be recognized as one of the top one hundred companies in China’s real estate industry,” said Mr. Yong Zhang, Xinyuan’s chairman and chief executive officer. “The Top 100 awards are an important benchmark for evaluating a real estate enterprise’s operational strength and industry status and these awards further enhance our brand recognition in the industry."
Xinyuan has been recognized in the Top 100 Chinese Real Estate Companies list for three consecutive years with the Company’s ranking jumping from 87th in 2006 to 44th in 2008. Xinyuan was ranked 4th in the 2008 Top 100 Chinese Real Estate Companies with Greatest Growth Potential category. According to the selection committee, Xinyuan was recognized as having strong growth potential because it stands out among the more than 10,000 real estate developers in China in terms of scale, growth, profitability and development potential.
The China Real Estate Top 10 Committee is a real estate market research task force jointly organized by the China Real Estate Association, the Enterprise Research Institute of the Development Research Center of the State Council of PRC, the Institute of Real Estate Studies of Tsinghua University and the China Index Academy.
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. (“Xinyuan”) (NYSE: XIN) is a fast-growing developer of large scale, quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community life. Xinyuan focuses on China’s Tier II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Ranked #1 among all property developers in Zhengzhou in terms of contracted sales of residential units for the years 2004, 2005 and 2006, Xinyuan has expanded its network to cover a total population of over 34.5 million people in 6 strategically selected Tier II cities, including Chengdu, Hefei, Jinan, Kunshan, Suzhou and Zhengzhou. Xinyuan has completed 14 projects with a total gross floor area (“GFA”) of over 1.0 million square meters within the past 10 years and as of December 31, 2007, Xinyuan had 8 projects under construction with a total GFA of 1.1 million square meters and 6 additional projects under planning with total GFA of 1.4 million square meters. With a focus on high asset turnover, efficient working capital management and strict cost control, Xinyuan is dedicated to bringing high quality, affordable homes to China’s middle income buyers. For more information, please visit http://www.xyre.com .
Safe Harbor Statement
This announcement may contain 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 can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Statements that are not historical facts, including statements concerning Xinyuan’s beliefs, forecasts, estimates and expectations, 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 risks that: if we are unable to successfully manage our expansion into other Tier II cities, we will not be able to execute our business plan; we face intense competition from other real estate developers; we may be unable to complete our property developments on time or at all; our results of operations may fluctuate from period to period; we are heavily dependent on the performance of the residential property market in China, which is at a relatively early development stage; the PRC government may adopt further measures to curtail the overheating property sector; PRC economic, political and social conditions as well as government policies can affect our business and other risks outlined in our public filings with the Securities and Exchange Commission, including our registration statement on Form F-1, as amended. All information provided in this press release is as of April 17, 2008. Except as required by law, Xinyuan undertakes no duty to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
For more information, please contact:
In China:
Ms. Lisa Wang
Director of Investor Relations
GM of Strategy, Investment and Finance Department
Tel: +86-1350-100-4871
Email: lisa.wang@xyre.com
Mr. Derek Mitchell
Ogilvy Public Relations Worldwide (Beijing)
Tel: +86-10-8520-6284
Email: derek.mitchell@ogilvy.com
In the United States:
Mr. Jeremy Bridgman
Ogilvy Public Relations Worldwide (New York)
Tel: +1-212-880-5363
Email: jeremy.bridgman@ogilvypr.com
