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Xinyuan Real Estate

Chinese real estate company

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.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

$514.7MRevenue, fiscal 20245
-$51.0MNet income, fiscal 20245
2006Founded1

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  • TickerXIN on NYSE1
  • Industryreal estate development1
  • HeadquartersBeijing1
  • Websitewww.xyre.com
  • Business address27/F, China Central Place, Tower Ii, 79 Jianguo Road, Chaoyang District, Beijing, 100256
  • Filer categoryNon-accelerated filer6
  • Legal formcompany limited by shares4
  • LEI5493005I1X3PG0G3GC954
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressUgland House, South Church Street, KY1-1104 George Town, Grand Cayman, Cayman Islands4
  • Registered withGeneral Registry, 18844874

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Xinyuan Real Estate Co., Ltd. (Chinese: 鑫苑置业; pinyin: Xīnyuàn Zhìyè) is a Chinese real estate company.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

16.0%Gross margin5
7.6%Operating margin5
-9.9%Net margin5
-36.1%Revenue growth, 20245

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue84¢$432.2M
  • Other costs5¢$27.5M
  • Income tax11¢$54.9M

Out of $514.7M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2024

  • Dividends paid19¢$3.4M
  • Share buybacks2¢$440.6K
  • Kept or used elsewhere79¢$14.4M

Out of $18.2M of cash from operations.5

Financial statements

Revenue89105$514.7M in 2024−74% since 2017
0$1.0B$2.0B$3.0B2017: $2.0B$2.0B20172018: $2.2B$2.2B2018+12%2019: $2.5B$2.5B2019+12%2020: $1.7B$1.7B2020−31%2021: $1.5B$1.5B2021−10%2022: $950.0M$950.0M2022−38%2023: $805.0M$805.0M2023−15%2024: $514.7M$514.7M2024−36%
Gross profit1191213105$82.4M in 2024−82% since 2017
0$200.0M$400.0M$600.0M$800.0M2017: $459.6M$459.6M20172018: $615.5M$615.5M2018+34%2019: $560.3M$560.3M2019−9%2020: $292.5M$292.5M2020−48%2021: $67.9M$67.9M2021−77%2022: $72.0M$72.0M2022+6%2023: $132.5M$132.5M2023+84%2024: $82.4M$82.4M2024−38%
Operating income1191213105$39.0M in 2024−84% since 2017
-$400.0M-$200.0M0$200.0M$400.0M2017: $247.1M$247.1M20172018: $375.4M$375.4M2018+52%2019: $309.9M$309.9M2019−17%2020: $147.8M$147.8M2020−52%2021: -$204.7M-$204.7M20212022: -$49.4M-$49.4M2022−76%2023: $48.3M$48.3M20232024: $39.0M$39.0M2024−19%
Net income1191213105-$51.0M in 2024
-$600.0M-$400.0M-$200.0M0$200.0M2017: $63.6M$63.6M20172018: $73.0M$73.0M2018+15%2019: $68.3M$68.3M2019−6%2020: -$81.0M-$81.0M20202021: -$417.3M-$417.3M2021+415%2022: -$263.4M-$263.4M2022−37%2023: $40.3M$40.3M20232024: -$51.0M-$51.0M2024
Fiscal year20172018201920202021202220232024
Revenue$2.0B8$2.2B9$2.5B9$1.7B9$1.5B10$950.0M5$805.0M5$514.7M5
Cost of revenue$1.5B11$1.6B9$1.9B12$1.5B13$1.5B10$878.1M5$672.5M5$432.2M5
Gross profit$459.6M11$615.5M9$560.3M12$292.5M13$67.9M10$72.0M5$132.5M5$82.4M5
Operating expenses$254.0M10$127.0M5$84.2M5$43.5M5
Operating income$247.1M11$375.4M9$309.9M12$147.8M13-$204.7M10-$49.4M5$48.3M5$39.0M5
Interest$66.2M11$99.2M9$113.8M12$129.5M13$183.4M10$158.0M10$176.9M10
Income before tax-$420.5M10-$249.4M5$85.8M5$8.9M5
Income tax$113.1M11$144.4M9$150.5M12$135.1M13-$7.3M10$9.2M5$55.3M5$54.9M5
Net income$63.6M11$73.0M9$68.3M12-$81.0M13-$417.3M10-$263.4M5$40.3M5-$51.0M5
Earnings per share$0.4911$0.579$0.6012-$0.7513-$3.8910-$2.445$0.385-$0.455
Earnings per share (diluted)$0.4811$0.579$0.6012-$0.7513-$3.8910-$2.445$0.385-$0.455
Shares (weighted, basic)107.3M shares10107.8M shares5106.7M shares5112.2M shares5
Shares (weighted, diluted)107.3M shares10107.8M shares5106.7M shares5112.2M shares5

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Corporate structure

Xinyuan Real Estate sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Xinyuan Real Estate

  • Xinyuan Real Estate Causeway Bay, Hong Kong, Hong Kong

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Xinyuan Real Estate reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$16.6M5 Dec 31, 2024$41.1M5 Dec 31, 2023−59.5%
Finance-lease assets$010 Dec 31, 2023$013 Dec 31, 2022
Operating-lease assets (leased space)$372.3K5 Dec 31, 2024$1.6M5 Dec 31, 2023−77.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$94.4M5 Dec 31, 2024$129.2M5 Dec 31, 2023−26.9%
Marketable securities, current$3.1M5 Dec 31, 2024$5.4M5 Dec 31, 2023−42.7%
Long-term investments$67.9M5 Dec 31, 2024$73.8M5 Dec 31, 2023−8.0%

The story

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. On April 15, 2025, creditors pushed Xinyuan Real Estate into bankruptcy for the second time in a year in order to collect on bonds due back in 2024.

From Wikipedia’s article on Xinyuan Real Estate, shared under CC BY-SA 4.0.7

Products and brands

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.

From Wikipedia’s article on Xinyuan Real Estate, shared under CC BY-SA 4.0.7

Former names

  • Xinyuan Real Estate Co LtdApr 23, 2007 to Apr 18, 20086

Timeline

  1. Dec 12, 2007Went public Listed on NYSE1
  2. 2006Founded Founded1

Filings

102 filings to the SEC since October 2021: 8 annual reports, 1 large holders, 93 other. The latest 20:

  1. Aug 14, 20266-K EDGAR
  2. May 15, 20266-K EDGAR
  3. Apr 30, 2026NT 20-F EDGAR
  4. Jan 20, 20266-K EDGAR
  5. Jan 2, 20266-K EDGAR
  6. Dec 9, 20256-K EDGAR
  7. Dec 5, 20256-K EDGAR
  8. Oct 14, 20256-K EDGAR
  9. Sep 19, 20256-K EDGAR
  10. Sep 11, 20256-K EDGAR
  11. Sep 3, 20256-K EDGAR
  12. Aug 29, 20256-K EDGAR
  13. Jul 29, 20256-K EDGAR
  14. Jul 14, 20256-K EDGAR
  15. Jul 11, 20256-K EDGAR
  16. Jul 8, 20256-K EDGAR
  17. Jul 2, 20256-K EDGAR
  18. Jun 30, 20256-K EDGAR
  19. Jun 16, 20256-K EDGAR
  20. May 27, 20256-K EDGAR

The 102 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Xinyuan Real Estate is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARXinyuan Real Estate Co., Ltd.2
  • CIK0001398453
  • Filer statusNon-accelerated filer not an emerging growth company; not a shell company18
  • Incorporated inCayman Islands18
  • Industry code (SIC)1520 General Bldg Contractors - Residential Bldgs2
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance2
  • Business address27/F, China Central Place, Tower Ii, 79 Jianguo Road, Chaoyang District, Beijing, 10025, China2
  • Phone8610858892002
  • Shares outstanding112,812,481 shares as of Dec 31, 202418
  • AuditorAssentsure PAC, Singapore PCAOB ID 6783; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceApr 23, 20072
  • Filings425 in all: 6-K (300), 20-F (18), CORRESP (17), UPLOAD (17), SC 13G/A (8), 20-F/A (7), EFFECT (6), SC 13G (6)2
    All 30 form types

    424B3 (5), NT 20-F (5), SC 13D/A (5), S-8 (4), 6-K/A (3), F-1/A (3), F-3 (3), F-3/A (3), 144 (2), 25-NSE (1), 424B4 (1), 8-A12B (1), CERTNYS (1), F-1 (1), F-6 (1), F-6 POS (1), F-6/A (1), F-6EF (1), FWP (1), POS AM (1), REGDEX/A (1), SC 13D (1)

  • Latest filingsAnnual report (20-F) Apr 29, 2025

Securities registered for trading

ClassSymbolExchange
American Depositary Shares, each representing 20 common shares, par value US$0.0001 per shareXINNew York Stock Exchange

From the cover page of the 20-F filed Apr 29, 2025 (Section 12(b) of the Exchange Act).18

Sources

The numbers on this page point here. Each one links to the record it came from.

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