Intrinsic value of Xinyuan Real Estate ADR - XIN

Previous Close

$4.48

  Intrinsic Value

$127.14

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  Rating & Target

str. buy

+999%

Previous close

$4.48

 
Intrinsic value

$127.14

 
Up/down potential

+999%

 
Rating

str. buy

Our model is not good at valuating stocks of financial companies, such as XIN.

We calculate the intrinsic value of XIN stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  26.60
  24.44
  22.50
  20.75
  19.17
  17.75
  16.48
  15.33
  14.30
  13.37
  12.53
  11.78
  11.10
  10.49
  9.94
  9.45
  9.00
  8.60
  8.24
  7.92
  7.63
  7.36
  7.13
  6.91
  6.72
  6.55
  6.40
  6.26
  6.13
  6.02
Revenue, $m
  2,503
  3,114
  3,815
  4,607
  5,490
  6,464
  7,530
  8,684
  9,926
  11,253
  12,663
  14,154
  15,725
  17,375
  19,102
  20,907
  22,789
  24,749
  26,789
  28,910
  31,115
  33,406
  35,787
  38,262
  40,834
  43,509
  46,292
  49,188
  52,203
  55,344
Variable operating expenses, $m
  2,107
  2,622
  3,212
  3,879
  4,622
  5,443
  6,340
  7,312
  8,357
  9,475
  10,662
  11,918
  13,241
  14,630
  16,084
  17,604
  19,188
  20,839
  22,557
  24,343
  26,199
  28,128
  30,133
  32,216
  34,382
  36,635
  38,978
  41,416
  43,955
  46,600
Fixed operating expenses, $m
  65
  67
  68
  70
  71
  73
  75
  76
  78
  80
  81
  83
  85
  87
  89
  91
  93
  95
  97
  99
  101
  103
  106
  108
  110
  113
  115
  118
  120
  123
Total operating expenses, $m
  2,172
  2,689
  3,280
  3,949
  4,693
  5,516
  6,415
  7,388
  8,435
  9,555
  10,743
  12,001
  13,326
  14,717
  16,173
  17,695
  19,281
  20,934
  22,654
  24,442
  26,300
  28,231
  30,239
  32,324
  34,492
  36,748
  39,093
  41,534
  44,075
  46,723
Operating income, $m
  330
  425
  534
  658
  796
  948
  1,115
  1,296
  1,490
  1,698
  1,919
  2,153
  2,400
  2,658
  2,929
  3,213
  3,508
  3,816
  4,136
  4,469
  4,815
  5,175
  5,549
  5,937
  6,342
  6,762
  7,199
  7,654
  8,128
  8,621
EBITDA, $m
  355
  457
  573
  704
  851
  1,014
  1,191
  1,383
  1,590
  1,812
  2,047
  2,296
  2,558
  2,834
  3,122
  3,423
  3,738
  4,065
  4,406
  4,760
  5,129
  5,512
  5,910
  6,323
  6,753
  7,200
  7,665
  8,150
  8,654
  9,179
Interest expense (income), $m
  182
  180
  257
  347
  450
  567
  697
  840
  997
  1,167
  1,350
  1,545
  1,752
  1,972
  2,203
  2,446
  2,700
  2,966
  3,243
  3,532
  3,832
  4,144
  4,468
  4,806
  5,156
  5,520
  5,899
  6,293
  6,702
  7,129
  7,572
Earnings before tax, $m
  150
  168
  188
  208
  229
  252
  275
  299
  324
  349
  375
  401
  428
  455
  483
  512
  542
  573
  604
  637
  671
  706
  743
  781
  821
  863
  906
  952
  999
  1,049
Tax expense, $m
  41
  45
  51
  56
  62
  68
  74
  81
  87
  94
  101
  108
  115
  123
  131
  138
  146
  155
  163
  172
  181
  191
  201
  211
  222
  233
  245
  257
  270
  283
Net income, $m
  110
  123
  137
  152
  167
  184
  201
  218
  236
  255
  273
  293
  312
  332
  353
  374
  396
  418
  441
  465
  490
  516
  542
  570
  599
  630
  661
  695
  729
  766

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,073
  10,047
  12,307
  14,860
  17,709
  20,853
  24,289
  28,013
  32,018
  36,299
  40,847
  45,659
  50,727
  56,048
  61,620
  67,442
  73,513
  79,837
  86,417
  93,260
  100,372
  107,763
  115,443
  123,425
  131,723
  140,352
  149,328
  158,670
  168,397
  178,530
Adjusted assets (=assets-cash), $m
  8,073
  10,047
  12,307
  14,860
  17,709
  20,853
  24,289
  28,013
  32,018
  36,299
  40,847
  45,659
  50,727
  56,048
  61,620
  67,442
  73,513
  79,837
  86,417
  93,260
  100,372
  107,763
  115,443
  123,425
  131,723
  140,352
  149,328
  158,670
  168,397
  178,530
Revenue / Adjusted assets
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
  0.310
Average production assets, $m
  320
  399
  488
  590
  703
  827
  964
  1,112
  1,270
  1,440
  1,621
  1,812
  2,013
  2,224
  2,445
  2,676
  2,917
  3,168
  3,429
  3,701
  3,983
  4,276
  4,581
  4,898
  5,227
  5,569
  5,925
  6,296
  6,682
  7,084
Working capital, $m
  1,251
  1,557
  1,908
  2,303
  2,745
  3,232
  3,765
  4,342
  4,963
  5,626
  6,331
  7,077
  7,863
  8,688
  9,551
  10,453
  11,395
  12,375
  13,395
  14,455
  15,558
  16,703
  17,894
  19,131
  20,417
  21,754
  23,146
  24,594
  26,102
  27,672
Total debt, $m
  4,758
  6,425
  8,335
  10,492
  12,900
  15,557
  18,460
  21,607
  24,991
  28,608
  32,452
  36,517
  40,800
  45,297
  50,005
  54,924
  60,055
  65,398
  70,958
  76,740
  82,750
  88,995
  95,485
  102,230
  109,242
  116,533
  124,118
  132,012
  140,231
  148,794
Total liabilities, $m
  6,822
  8,489
  10,399
  12,557
  14,964
  17,621
  20,524
  23,671
  27,056
  30,672
  34,516
  38,582
  42,864
  47,361
  52,069
  56,988
  62,119
  67,462
  73,023
  78,804
  84,814
  91,059
  97,549
  104,294
  111,306
  118,597
  126,182
  134,076
  142,296
  150,858
Total equity, $m
  1,251
  1,557
  1,908
  2,303
  2,745
  3,232
  3,765
  4,342
  4,963
  5,626
  6,331
  7,077
  7,863
  8,688
  9,551
  10,453
  11,395
  12,375
  13,395
  14,455
  15,558
  16,703
  17,894
  19,131
  20,417
  21,754
  23,146
  24,594
  26,102
  27,672
Total liabilities and equity, $m
  8,073
  10,046
  12,307
  14,860
  17,709
  20,853
  24,289
  28,013
  32,019
  36,298
  40,847
  45,659
  50,727
  56,049
  61,620
  67,441
  73,514
  79,837
  86,418
  93,259
  100,372
  107,762
  115,443
  123,425
  131,723
  140,351
  149,328
  158,670
  168,398
  178,530
Debt-to-equity ratio
  3.800
  4.130
  4.370
  4.560
  4.700
  4.810
  4.900
  4.980
  5.040
  5.080
  5.130
  5.160
  5.190
  5.210
  5.240
  5.250
  5.270
  5.280
  5.300
  5.310
  5.320
  5.330
  5.340
  5.340
  5.350
  5.360
  5.360
  5.370
  5.370
  5.380
Adjusted equity ratio
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155
  0.155

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  110
  123
  137
  152
  167
  184
  201
  218
  236
  255
  273
  293
  312
  332
  353
  374
  396
  418
  441
  465
  490
  516
  542
  570
  599
  630
  661
  695
  729
  766
Depreciation, amort., depletion, $m
  25
  31
  38
  46
  55
  65
  76
  88
  100
  113
  128
  143
  158
  175
  193
  211
  230
  249
  270
  291
  314
  337
  361
  386
  412
  439
  467
  496
  526
  558
Funds from operations, $m
  135
  154
  175
  198
  223
  249
  277
  306
  336
  368
  401
  435
  471
  507
  545
  585
  625
  668
  711
  757
  804
  852
  903
  956
  1,011
  1,068
  1,128
  1,190
  1,256
  1,324
Change in working capital, $m
  263
  306
  350
  396
  442
  487
  533
  577
  621
  663
  705
  746
  786
  825
  864
  902
  941
  980
  1,020
  1,061
  1,102
  1,146
  1,190
  1,237
  1,286
  1,337
  1,391
  1,448
  1,508
  1,571
Cash from operations, $m
  -128
  -152
  -175
  -198
  -219
  -238
  -256
  -271
  -285
  -295
  -304
  -310
  -315
  -317
  -318
  -318
  -316
  -313
  -309
  -304
  -299
  -293
  -287
  -281
  -275
  -269
  -263
  -258
  -252
  -247
Maintenance CAPEX, $m
  -20
  -25
  -31
  -38
  -46
  -55
  -65
  -76
  -88
  -100
  -113
  -128
  -143
  -158
  -175
  -193
  -211
  -230
  -249
  -270
  -291
  -314
  -337
  -361
  -386
  -412
  -439
  -467
  -496
  -526
New CAPEX, $m
  -68
  -78
  -90
  -101
  -113
  -125
  -136
  -148
  -159
  -170
  -180
  -191
  -201
  -211
  -221
  -231
  -241
  -251
  -261
  -272
  -282
  -293
  -305
  -317
  -329
  -342
  -356
  -371
  -386
  -402
Cash from investing activities, $m
  -88
  -103
  -121
  -139
  -159
  -180
  -201
  -224
  -247
  -270
  -293
  -319
  -344
  -369
  -396
  -424
  -452
  -481
  -510
  -542
  -573
  -607
  -642
  -678
  -715
  -754
  -795
  -838
  -882
  -928
Free cash flow, $m
  -216
  -255
  -296
  -337
  -378
  -418
  -457
  -495
  -531
  -565
  -598
  -629
  -659
  -687
  -714
  -741
  -767
  -793
  -819
  -846
  -872
  -900
  -929
  -959
  -990
  -1,023
  -1,058
  -1,095
  -1,134
  -1,175
Issuance/(repayment) of debt, $m
  1,430
  1,667
  1,910
  2,157
  2,407
  2,657
  2,904
  3,147
  3,385
  3,617
  3,844
  4,065
  4,283
  4,497
  4,708
  4,919
  5,130
  5,344
  5,560
  5,782
  6,010
  6,245
  6,490
  6,745
  7,012
  7,291
  7,585
  7,894
  8,219
  8,562
Issuance/(repurchase) of shares, $m
  149
  183
  213
  244
  274
  303
  332
  359
  385
  409
  432
  453
  473
  492
  511
  528
  545
  562
  579
  595
  612
  630
  648
  667
  687
  708
  730
  753
  778
  805
Cash from financing (excl. dividends), $m  
  1,579
  1,850
  2,123
  2,401
  2,681
  2,960
  3,236
  3,506
  3,770
  4,026
  4,276
  4,518
  4,756
  4,989
  5,219
  5,447
  5,675
  5,906
  6,139
  6,377
  6,622
  6,875
  7,138
  7,412
  7,699
  7,999
  8,315
  8,647
  8,997
  9,367
Total cash flow (excl. dividends), $m
  1,363
  1,595
  1,827
  2,064
  2,303
  2,542
  2,778
  3,011
  3,238
  3,460
  3,677
  3,890
  4,097
  4,302
  4,505
  4,706
  4,908
  5,112
  5,320
  5,532
  5,750
  5,975
  6,209
  6,453
  6,708
  6,976
  7,257
  7,552
  7,864
  8,192
Retained Cash Flow (-), $m
  -259
  -306
  -350
  -396
  -442
  -487
  -533
  -577
  -621
  -663
  -705
  -746
  -786
  -825
  -864
  -902
  -941
  -980
  -1,020
  -1,061
  -1,102
  -1,146
  -1,190
  -1,237
  -1,286
  -1,337
  -1,391
  -1,448
  -1,508
  -1,571
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,104
  1,289
  1,477
  1,668
  1,862
  2,055
  2,245
  2,433
  2,617
  2,797
  2,972
  3,144
  3,312
  3,477
  3,641
  3,804
  3,967
  4,132
  4,300
  4,471
  4,647
  4,829
  5,019
  5,216
  5,422
  5,638
  5,866
  6,104
  6,356
  6,621
Discount rate, %
  8.00
  8.40
  8.82
  9.26
  9.72
  10.21
  10.72
  11.26
  11.82
  12.41
  13.03
  13.68
  14.37
  15.09
  15.84
  16.63
  17.46
  18.34
  19.25
  20.22
  21.23
  22.29
  23.40
  24.57
  25.80
  27.09
  28.45
  29.87
  31.36
  32.93
PV of cash for distribution, $m
  1,023
  1,097
  1,146
  1,171
  1,171
  1,147
  1,101
  1,037
  958
  868
  773
  675
  578
  486
  401
  324
  257
  200
  152
  113
  82
  58
  40
  27
  17
  11
  7
  4
  2
  1
Current shareholders' claim on cash, %
  82.3
  68.1
  57.0
  48.2
  41.2
  35.5
  31.0
  27.3
  24.2
  21.7
  19.5
  17.7
  16.2
  14.8
  13.7
  12.7
  11.8
  11.0
  10.3
  9.7
  9.2
  8.7
  8.2
  7.8
  7.4
  7.1
  6.7
  6.4
  6.2
  5.9

Xinyuan Real Estate Co., Ltd. (Xinyuan) is a holding company and conducts business primarily through its operating subsidiaries in China. The Company is a real estate developer and property manager that primarily focuses on residential properties. Xinyuan is engaged in developing large scale residential projects, which consist of multiple residential buildings that include multi-layer apartment buildings, sub-high-rise apartment buildings or high-rise apartment buildings. Its segments include property developments in Zhengzhou, Henan Province; property developments in Jinan, Shandong Province; property developments in Suzhou, Xuzhou and Kunshan, Jiangsu Province; property developments in Chengdu, Sichuan Province; property developments in Beijing; property developments in Sanya, Hainan Province; property developments in Changsha, Hunan Province; property developments in Shanghai; property developments in Tianjin; property developments in the United States, and other.

FINANCIAL RATIOS  of  Xinyuan Real Estate ADR (XIN)

Valuation Ratios
P/E Ratio 8.1
Price to Sales 0.4
Price to Book 0.7
Price to Tangible Book
Price to Cash Flow -3.7
Price to Free Cash Flow -3.6
Growth Rates
Sales Growth Rate 34.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 50%
Cap. Spend. - 3 Yr. Gr. Rate 0%
Financial Strength
Quick Ratio 1
Current Ratio 0.5
LT Debt to Equity 136.1%
Total Debt to Equity 234.8%
Interest Coverage 2
Management Effectiveness
Return On Assets 4.1%
Ret/ On Assets - 3 Yr. Avg. 4.7%
Return On Total Capital 2.6%
Ret/ On T. Cap. - 3 Yr. Avg. 2.5%
Return On Equity 8%
Return On Equity - 3 Yr. Avg. 6.7%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 22.9%
Gross Margin - 3 Yr. Avg. 24.2%
EBITDA Margin 22.9%
EBITDA Margin - 3 Yr. Avg. 24.9%
Operating Margin 10.8%
Oper. Margin - 3 Yr. Avg. 9.7%
Pre-Tax Margin 10.6%
Pre-Tax Margin - 3 Yr. Avg. 9.8%
Net Profit Margin 4.7%
Net Profit Margin - 3 Yr. Avg. 5.2%
Effective Tax Rate 52.4%
Eff/ Tax Rate - 3 Yr. Avg. 45%
Payout Ratio 28.8%

XIN stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the XIN stock intrinsic value calculation we used $1976.907231 million for the last fiscal year's total revenue generated by Xinyuan Real Estate ADR. The default revenue input number comes from 0001 income statement of Xinyuan Real Estate ADR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our XIN stock valuation model: a) initial revenue growth rate of 26.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8%, whose default value for XIN is calculated based on our internal credit rating of Xinyuan Real Estate ADR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Xinyuan Real Estate ADR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of XIN stock the variable cost ratio is equal to 84.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $64 million in the base year in the intrinsic value calculation for XIN stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Xinyuan Real Estate ADR.

Corporate tax rate of 27% is the nominal tax rate for Xinyuan Real Estate ADR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the XIN stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for XIN are equal to 12.8%.

Life of production assets of 12.7 years is the average useful life of capital assets used in Xinyuan Real Estate ADR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for XIN is equal to 50%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $992.571849 million for Xinyuan Real Estate ADR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 42.247 million for Xinyuan Real Estate ADR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Xinyuan Real Estate ADR at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating

COMPANY NEWS

▶ Xinyuan: 3Q Earnings Snapshot   [06:18AM  Associated Press]
▶ Xinyuan Real Estate Announces Bond Repurchase   [Aug-16-18 08:00AM  PR Newswire]
▶ Xinyuan: 2Q Earnings Snapshot   [06:23AM  Associated Press]
▶ Xinyuan: 1Q Earnings Snapshot   [May-30-18 07:04AM  Associated Press]
▶ Xinyuan posts 4Q profit   [06:17AM  Associated Press]
▶ Xinyuan posts 3Q profit   [Nov-10-17 06:07AM  Associated Press]
▶ Xinyuan posts 2Q profit   [Aug-11-17 08:10PM  Associated Press]
▶ Xinyuan posts 1Q profit   [May-18-17 06:12AM  Associated Press]
▶ Xinyuan posts 4Q profit   [06:19AM  Associated Press]
▶ Is Haverty Furniture Companies, Inc. (HVT) A Good Stock To Buy?   [Dec-09-16 06:00PM  at Insider Monkey]
▶ Corrections & Amplifications   [Dec-02-16 12:22AM  at The Wall Street Journal]

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