Plus   Neg

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Air New Zealand, the national airline of the island country, is testing edible coffee cups in an effort to reduce the amount of waste on its flights. The carrier is trialling an edible biscotti coffee cup from family-run business Twiice for select customers in the air and on the ground. After finishing... The Saudi Arabia-led OPEC and a 10-nation coalition led by Russia called OPEC+ have agreed to deeper oil production cuts in order to prevent oversupply. The new deal will apply for the first three months of 2020. The oil exporting countries have recommended to deepen the cuts by 500,000 bpd to existing... Shares of China's TAL Education Group (TAL) set a new all-time high of $46.15, despite a not-so-great eps number in its recent quarterly release. In its recent Q2 report, the K-12 (the period from year before first-grade through high school senior year) after-school tutoring services provider said...
Follow RTT