BEIJING, July 15, 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 completed a
follow-on offering of common stock. Xinyuan Property Management
Services (Cayman) Ltd. (HK: 1895) ("Xinyuan Property Management")
sold 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 acted as joint
lead book-running managers for the offering.
Xinyuan Property Management will receive net proceeds from the
offering of approximately HK$127.2
million, after deducting all applicable costs and expenses
payable by Xinyuan Property Management. Xinyuan Property Management
intends to use the proceeds for the business operations, strategic
investments and general corporate purposes. Xinyuan Real Estate
owned and will own 60% and 54.55% of Xinyuan Property Management
respectively, before and after the offering.
Founded in 1998, Xinyuan Property Management is the first-class
national certified property management enterprise and also the vice
president organization of the China Property Management Institute.
Xinyuan Property Management 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".
Xinyuan Chairman and CEO Mr. Yong
Zhang stated, "Xinyuan Property Management 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 Property Management's 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 the intended use of proceeds from the offering,
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 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.