Xinyuan Real Estate Co., Ltd. Announces Third Quarter 2009 Financial Results

Posted by Scarlett Lu

BEIJING, Nov. 9 /PRNewswire-Asia/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a residential real estate developer with a focus on high growth, strategic Tier II cities in China, today announced its unaudited financial results for the third quarter ended September 30, 2009.

Highlights for the Third Quarter 2009
-- Total revenues were US$128.2 million, compared to US$91.8 million in
the second quarter of 2009 and US$83.0 million for the same period of
2008.
-- Contract sales totaled US$159.0 million in the third quarter of 2009
versus US$100.5 million in the second quarter of 2009 and $69.7 million
for the third quarter of 2008.
-- Total gross floor area ("GFA") sales were 184,500 square meters,
compared to 128,500 square meters in the second quarter of 2009 and
93,900 square meters for the same period of 2008.
-- Selling, General, and Administrative ("SG&A") expenses as a percent of
total revenue declined to 7.0% compared to 8.1% in the second quarter
of 2009 and 16.3% for the third quarter of 2008.
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