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Xinyuan Provides FY20 Outlook - Quick Facts

While reporting financial results for the fourth quarter and fiscal 2019 on Friday, Chinese real estate developer Xinyuan Real Estate Co., Ltd. (XIN) said it expects contract sales for the full year 2020 to be in the range of RMB 20 billion and RMB 22 billion.

However, the outlook may be subject to change in light of uncertainties and situations related to how coronavirus (COVID-19) pandemic develops.

Xinyuan Chairman Yong Zhang stated, "We started 2020 in a challenging environment due to the COVID-19 outbreak, which has adversely affected our first quarter sales. The most immediate impact was the closure of sales and construction sites. At the moment, China has contained the spread of the virus, and by the end of March 2020, all of our construction and sales sites have re-opened, except our Wuhan project, and we are striving to resume full operations."

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