BEIJING, Jan. 24, 2014 /PRNewswire/ -- Xinyuan Real
Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a
residential real estate developer with a focus on high growth
cities in China, today announced
the appointment of Mr. Xinqi Wang
and Mr. Yumin Liang as directors of
the Company, effective immediately. After the appointment, the
Company's board of Directors (the "Board") will consist of eleven
directors.
Mr. Xinqi Wang was appointed as
Chief Executive Officer ("CEO") of Xinyuan in October 2013 and since his appointment, has made
significant contributions to the Company's operations. Mr. Wang
possesses over twenty years of experience in China's real estate industry. Before joining
Xinyuan, he worked for the last seven years at Wanda Commercial
Properties Co., Ltd., one of China's largest property enterprises, most
recently serving as Vice President and General Manager of the
Northern Projects Management Center.
Mr. Yumin Liang was appointed as
Chairman of Henan Xinyuan Real Estate Co., Ltd. in July 2013 and since that time, has facilitated
land acquisition negotiations for the Company in Zhengzhou and Xingyang. Mr. Liang brings
nearly three decades of experience in China's real estate industry. Before joining
Xinyuan, he was the Chairman of Zhengzhou Guoyi Residential Group
Co., Ltd.. Prior to that, Mr. Liang held progressive positions at
the Zhengzhou Housing Management Bureau for approximately eighteen
years.
Mr. Yong Zhang, Chairman of
Xinyuan, commented, "On behalf of the Board, I'd like to welcome
Mr. Xinqi Wang and Mr. Yumin Liang. Their extensive industry knowledge
and experience as well as local resources will be a great asset to
our Company and its shareholders as we execute on our strategic
growth initiatives."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a
developer of large scale, high quality residential real estate
projects aimed at providing middle-income consumers with a
comfortable and convenient community lifestyle. In China, Xinyuan primarily focuses its
development projects in Tier II cities, Zhengzhou, Ji'nan, Suzhou, Kunshan, Xuzhou,
Chengdu and Hefei. The Company's U.S. development arm, XIN
Development Group International, Inc., is a pioneer amongst Chinese
real estate residential developers, entering the US market in
2012. Xinyuan is the first real estate developer from
China to be listed on the New York
Stock Exchange. For more information, please visit
http://en.xyre.com/ir.html.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements are made under the ''safe harbor'' provisions of the
U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
concerning our beliefs, forecasts, estimates and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties that could cause actual results to
differ materially from those projected or anticipated, including,
but not limited to, the risk that: our financing costs are subject
to changes in interest rates; our results of operations may
fluctuate from period to period; the recognition of our real estate
revenue and costs relies on our estimation of total project sales
value and costs; we may be unable to acquire desired development
sales at commercially reasonable costs; increases in the price of
raw materials may increase our cost of sales and reduce our
earnings; we are heavily dependent on the performance of the
residential property market in China, which is at a relatively early
development stage; PRC economic, political and social conditions as
well as government policies can affect our business; the market
price of our ADSs may be volatile, and other risks outlined in our
public filings with the Securities and Exchange Commission,
including our annual report on Form 20-F for the year ended
December 31, 2012. Except as required
by law, we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
For more information, please contact:
Xinyuan Real Estate Co., Ltd.
Ms. Helen Zhang
Interim CFO
Tel: +86 (10) 8588-9398
Email: irmanager@xyre.com
ICR, LLC
William Zima
In U.S.: +1 646-308-1472
In China: +86 (10) 6583-7511
Email: william.zima@icrinc.com
SOURCE Xinyuan Real Estate Co., Ltd.