BEIJING, July 6, 2020 /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 that its Hong
Kong-listed property management subsidiary has commenced a
follow-on offering of common stock, Xinyuan Property Management
Services (Cayman) Ltd. (HK: 1895) ("Xinyuan
Service") propose to sell up to an aggregate of 50,000,000
new shares of its common stock at a price of HK$2.60 per share.
Guotai Junan Securities and Valuable Capital Ltd are acting as
joint lead book-running managers for the proposed offering.
From the offering, Xinyuan
Service will receive new proceeds of approximately
HK$130 million and the net proceeds
will be approximately HK$127.2
million, after deducting all applicable costs and expenses.
Xinyuan Service will use the
proceeds for the business operations, strategic investment and
general corporate purposes. Xinyuan Real Estate owned and will own
60% and 54.55% of Xinyuan Service
respectively, before and after the offering.
Founded in 1998, Xinyuan Service
is the first-class national certified property management
enterprise and also the vice president organization of the China
Property Management Institute. Xinyuan
Service consistently ranks among the top 100 property
management companies in China and
was recently designated as a "2020 leading listed property
management company for business performance". As of July 3, 2020, the market cap of Xinyuan Service is 1.43
billion HKD.
Xinyuan Chairman and CEO Mr. Yong
Zhang stated, "Xinyuan Services has performed quite well
since its initial public offering in October of 2019. This
successful offering of shares will further enhance its strong brand
recognition and leadership position in property management
services. We believe that Xinyuan Services' successful performance
will strengthen our core real estate development capability and
bring meaningful benefits to our business, our customers, and our
shareholders."
About Xinyuan Real Estate
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, 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.
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
impact of the COVID-19 pandemic on the real estate markets and
economies of the cities and countries in which we operate; 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 8 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,
2018. 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.
Investor Contact:
For more information, please contact:
In China:
Xinyuan Real Estate Co., Ltd.
Mr. Charles Wang
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
The Blueshirt Group
Ms. Susie
Wang
Mobile: +86 (138) 1081-7475
Email: susie@blueshirtgroup.com
In the United States:
The Blueshirt Group
Ms. Julia
Qian
Email: Julia@blueshirtgroup.com
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SOURCE Xinyuan Real Estate Co., Ltd.