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Xinyuan Real Estate Expects Q2 Contract Sales To Be About $530 Mln

Xinyuan Real Estate Co., Ltd. (XIN) said it expects contract sales to be about US$530 million for the second quarter of 2018.

For 2018, the company expects an increase in contract sales of about 10% and an increase in consolidated net income of 15% to 20% over 2017.

The 2018 business outlook reflects the modified retrospective adoption of ASC 606 and may not be comparable to prior year periods.

Yong Zhang, Xinyuan's Chairman, stated, With the upgrade of our strategy, we expect the Group's sales and net profits will grow better than last year, and we maintain a stable dividend policy this quarter. The management is optimistic about the financial outlook for the entire year of 2018, and will further enhance operational efficiency, optimize the capital structure, and build a first-class global real estate development operations and asset management group."

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