Xinyuan Real Estate Co., Ltd. Announces Second Quarter 2019 Financial Results

BEIJING,Aug. 16,2019 --Xinyuan Real Estate Co.,Ltd. ("Xinyuan" or the "Company") (NYSE: XIN),an NYSE-listed real estate developer and property manager operating primarily in China and in other countries,today announced its unaudited financial results for the second quarterended June 30,2019.

Highlights

First half contract sales of 2019 increased 3.4% to RMB6,676.3 million from RMB6,457.0 million in the first half of 2018.

Contract sales decreased 20.0% to US$507.4 million from US$633.9 million in the second quarter of 2018 and increased 5.8% from US$479.7 million in the first quarter of 2019.

Total revenue increased 71.3% to US$609.4 million from US$355.8 million in the second quarter of 2018 and increased 30.0% from US$468.9 million in the first quarter of 2019.

Gross profit increased 45.5% to US$159.2 million from US$109.4 million in the second quarter of 2018 and increased 21.5% from US$131.0 million in the first quarter of 2019.

Selling,General and Administrative ("SG&A") expenses as a percentage of total revenue decreased to 10.3% from 13.2% in the second quarter of 2018 and decreased from 12.0% in the first quarter of 2019.

Net income was US$19.8 million compared to net loss of US$9.3 million in the second quarter of 2018 and net income of US$18.2 million in the first quarter of 2019.

Current debt outstanding decreased 33.8% to US$1,207.2 million,or 33.6% of the total debt,from US$1,823.7 million,or 51.9% of the total debt,in the first quarter of 2019.

Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.19 compared to diluted net loss of US$0.10 per ADS in the second quarter of 2018 and diluted net earnings of US$0.33 per ADS in the first quarter of 2019.

Mr. Yong Zhang,Xinyuan's Chairman,stated,"In the first half of 2019,Xinyuan maintained stable growth and commenced pre-sales of three new projects in China. The total value of contracts signed in the first half was RMB7,323.2million,representing a 12.0% increase compared to RMB6,537.4million in the first half of 2018. Thanks to the outstanding sales performance,the company has achieved top- and bottom-line growth despite downward pressure on sales across the industry. In the first half of 2019,total revenue increased 103.5% year over year. Moreover,we were able to reduce SG&A expenses as a percentage of total revenue to 11.0% in the first half from 16.4% in the first half of 2018. As a result,gross profit increased by 96.0% year over year,and net income was US$38.0 million compared to a net loss of US$22.0 million in the first half of 2018. Furthermore,our overseas projects continued to proceed as planned,and presales of our Manhattan project are expected to launch at the end of the fourth quarter of 2019.

"At the same time,we are seeing a lasting impact from changes in the macro-economic environment and stringent government restriction policies on the Chinese housing market. However,we believe that our strategic focus on high quality tier-one and tier-two city projects as well as our strong execution capabilities enable us to further solidify our leading market position and deliver sustainable long-term growth. We remain committed to controlling our financial leverage and maximizing Xinyuan's financial health. We are also pleased to offer another quarterly dividend payment to our shareholders," concluded Mr. Zhang.

Second Quarter2019 Financial Results

Contract Sales

Contract sales in China totaled US$507.4million in the second quartercompared to US$630.3 million in the second quarter of 2018andUS$478.9million in the first quarter of 2019.

The Company's GFA sales in China were 233,200 square meters in the second quarterof 2019 compared to 282,900square meters in the second quarter of 2018and 211,400square meters in the first quarter of 2019.

The average selling price ("ASP") per square meter sold in China was RMB14,755(US$2,176) in the second quarterof 2019 compared to RMB14,173 (US$2,226) in the second quarter of 2018 and RMB15,269 (US$2,264) in the first quarter of 2019.

The Company commenced pre-sales of two new projectsin the second quarter of 2019,Xinyang Splendid V,Suzhou Gusu Shade II. The presales contributed 5.9% and3.6% of total GFA sales and total contract sales,respectively.

Breakdown of GFA Sales and ASPs by Project in China

Project

Q2 2018

Q1 2019

Q2 2019

GFA

ASP

GFA

ASP

GFA

ASP

(m2,000s)

(RMB)

(m2,000s)

(RMB)

Xingyang Splendid II

0.3

9,939

10.2

7,478

3.6

7,330

Jinan Royal Palace

27.4

16,341

1.6

15,661

2.8

14,739

Xuzhou Colorful City

0.8

10,495

-

-

0.7

14,541

Chengdu Thriving Family

1.3

16,011

(0.1)

7,729

-

-

Changsha Xinyuan Splendid

3.7

15,869

-

-

0.1

18,658

Sanya Yazhou Bay No.1

12.0

25,758

0.4

25,615

0.3

38,158

Xi'an Metropolitan

4.5

7,480

0.6

11,253

0.1

12,896

Zhengzhou Xindo Park

0.4

7,560

-

-

0.7

8,661

Jinan Xin Central

9.2

14,073

0.1

13,170

0.1

18,954

Henan Xin Central I

1.0

15,342

0.1

14,887

0.7

7,942

Zhengzhou Fancy City I

1.2

10,989

(1.4)

15,073

0.5

13,714

Zhengzhou Fancy City II (South)

0.8

14,103

(0.1)

12,660

(0.1)

9,469

Tianjin Spring Royal Palace I

0.1

16,294

-

-

-

-

Zhengzhou International New City I

6.0

25,102

-

-

-

-

Henan Xin Central II

6.2

12,351

-

-

0.1

15,932

Xingyang Splendid III

13.2

7,934

0.4

7,046

0.3

8,091

Zhengzhou International New City II

1.7

13,671

-

-

0.5

18,997

Zhengzhou Fancy City II (North)

35.3

9,801

3.5

9,838

2.8

9,884

Tianjin Spring Royal Palace II

11.5

14,124

8.1

12,670

10.8

13,496

Zhengzhou International New City III D

29.6

14,282

(0.1)

14,461

0.6

14,045

Zhengzhou Hangmei International Wisdom

City I

16.2

7,195

2.3

7,144

1.8

6,845

Zhengzhou International New City III B

51.3

13,996

0.8

13,262

0.7

15,174

Chengdu Xinyuan City

-

-

33.1

9,511

2.7

7,585

Kunshan Xinyu Jiayuan

-

-

5.5

24,208

13.0

23,660

Xingyang Splendid IV

-

-

1.0

7,027

0.3

7,326

Suzhou Suhe Bay *

-

-

30.0

21,680

8.5

21,461

Zhengzhou Hangmei International Wisdom

City II

-

-

0.5

7,350

9.3

7,394

Qingdao Royal Dragon Bay

-

-

15.3

20,285

28.8

19,797

Jinan Royal Spring Bay

-

-

2.7

9,201

4.0

8,777

Xinyuan Golden Water View City-Zhengzhou

-

-

19.0

18,817

8.3

19,740

Zhengzhou Fancy City III

-

-

20.5

12,637

8.5

12,729

Zhengzhou International New City III C

-

-

17.3

12,260

15.7

12,459

Zhengzhou International New City IV A12

-

-

24.8

14,254

34.8

14,224

Zhengzhou International New City IV B10

-

-

7.9

13,969

15.5

10,698

Suzhou Galaxy Bay

-

-

2.4

13,790

34.6

14,227

Suzhou Gusu Shade I

-

-

0.8

36,262

5.6

37,678

Dalian International Health Technology

Town I

-

-

0.1

13,618

0.4

10,421

Xingyang Splendid V

-

-

-

-

13.1

7,629

Suzhou Gusu Shade II **

-

-

-

-

0.6

38,893

Others

49.2

-

4.1

-

2.4

-

Total

282.9

14,173

211.4

15,269

233.2

14,755

* The Company owns 16.66% equity interest in Suzhou Hengwan Real Estate Co.,Ltd.,which develops Suzhou Suhe

Bay. The Company accounts for its investment under the equity method.

** The Company owns 19.99% equity interest in Suzhou Litai Real Estate Co.,which develops Suzhou Gusu Shade

II. The Company accounts for its investment under the equity method.

Revenue

In the second quarterof 2019,the Company's total revenue increased 71.3% to US$609.4 million from US$355.8 million in the second quarter of 2018 and increased 30.0% from US$468.9 million in the first quarter of 2019.

Gross Profit

Gross profit for the second quarterof 2019 wasUS$159.2million,or 26.1% of total revenue,compared to a gross profit of US$109.4 million,or 30.7% of total revenue,in the second quarter of 2018 and a gross profit of US$131.0 million,or 28.0% of total revenue,in the first quarter of 2019.

Selling,General and Administrative Expenses

SG&A expenses were US$63.0million for the second quarterof 2019 compared to US$47.0million for the second quarter of 2018andUS$56.1million for the first quarter of 2019. As a percentage of total revenue,SG&A expenses were 10.3% compared to 13.2% in the second quarter of 2018and 12.0% in the first quarter of 2019.

Net Income

Net income for the second quarterof 2019 was US$19.8 million compared to netloss of US$9.3million for the second quarter of 2018andnet income of US$18.2 million for the first quarter of 2019. Net margin was 3.3%compared to negative 2.6% in the second quarter of 2018and 3.9% in the first quarter of 2019. Diluted net earnings per ADS were US$0.19 compared to diluted net loss of US$0.10per ADS in the second quarter of 2018 and diluted net earnings of US$0.33per ADS in the first quarter of 2019.

Balance Sheet

As of June30,2019,the Company's cash and cash equivalents (including restricted cash) decreased to US$1,021.8 million from US$1,127.2 million as of March 31,2019.

Total debt outstanding was US$3,595.0million,which reflects an increase of US$81.2million from US$3,513.8million at the end of the firstquarter of 2019. The balance of the Company's real estate properties under development at the end of the second quarterof 2019 was US$3,844.0million compared to US$4,002.0million at the end of the firstquarter of 2019.

Real Estate Project Status in China

Below is a summary table of projects that were active and available for sale in the second quarterof 2019.

Project

GFA

(m2'000s)

Total Active Projects

Sold through

June 30,2019

Unsold as of

June 30,2019

Xingyang Splendid II

136.9

97.5

39.4

Jinan Royal Palace

449.6

431.7

17.9

Xuzhou Colorful City

130.8

122.2

8.6

Chengdu Thriving Family

203.4

198.0

5.4

Changsha Xinyuan Splendid

251.7

249.0

2.7

Sanya Yazhou Bay No.1

117.6

101.4

16.2

Xi'an Metropolitan

286.0

269.7

16.3

Zhengzhou Xindo Park

134.1

132.7

1.4

Jinan Xin Central

194.4

183.5

10.9

Henan Xin Central I

262.2

253.2

9.0

Zhengzhou Fancy City I

166.7

159.4

7.3

Zhengzhou Fancy City II (South)

84.1

81.7

2.4

Tianjin Spring Royal Palace I

139.7

131.3

8.4

Zhengzhou International New City I

360.7

338.5

22.2

Henan Xin Central II

109.5

103.9

5.6

Xingyang Splendid III

121.1

116.6

4.5

Zhengzhou International New City II

176.0

163.7

12.3

Zhengzhou Fancy City II (North)

108.7

90.9

17.8

Tianjin Spring Royal Palace II

144.6

72.1

72.5

Zhengzhou International New City III D

46.1

44.2

1.9

Zhengzhou Hangmei International Wisdom

City I

64.7

54.9

9.8

Zhengzhou International New City III B

118.8

117.7

1.1

Chengdu Xinyuan City

742.0

109.9

632.1

Kunshan Xinyu Jiayuan

107.9

42.1

65.8

Xingyang Splendid IV

22.0

22.0

-

Suzhou Suhe Bay *

62.6

62.5

0.1

Zhengzhou Hangmei International Wisdom

City II

68.8

24.0

44.8

Qingdao Royal Dragon Bay

157.3

64.6

92.7

Jinan Royal Spring Bay

116.8

24.9

91.9

Xinyuan Golden Water View

City-Zhengzhou

331.5

63.2

268.3

Zhengzhou Fancy City III

80.6

45.8

34.8

Zhengzhou International New City III C

79.9

61.6

18.3

Zhengzhou International New City IV A12

198.4

68.9

129.5

Zhengzhou International New City IV B10

92.3

23.4

68.9

Suzhou Galaxy Bay

76.5

61.3

15.2

Suzhou Gusu Shade I

12.0

6.6

5.4

Dalian International Health Technology

Town I

103.8

1.3

102.5

Xingyang Splendid V

80.5

13.1

67.4

Suzhou Gusu Shade II **

14.3

0.6

13.7

Others

42.1

-

42.1

Total active projects

6,196.7

4,209.6

1,987.1

* The Company owns 16.66% equity interest in Suzhou Hengwan Real Estate Co.,which develops Suzhou Gusu Shade

II. The Company accounts for its investment under the equity method.

As of June 30,the Company's total saleable GFA was approximately 5,224,600square meters for active projects and under planning stage projects in China. Below is a summary of all of the Company's projects in China:

Unsold GFA as of

June 30,2019

(m2'000s)

Pre-sales

Scheduled

Tongzhou Xinyuan Royal Palace-Beijing

102.3

To be determined

Xinyuan Chang'an Royal Palace-Xi'an

226.0

To be determined

Zhengzhou International New City Land Bank (all land is grouped together

and will be developed gradually)

1,300.3

To be determined

Zhuhai Xin World

70.0

To be determined

Lingshan Bay Dragon Seal-Qingdao

380.0

To be determined

Zhengzhou Hangmei Project Land Bank (all land is grouped together and

will be developed gradually)

191.1

To be determined

Wuhan Hidden Dragon RoyalPalace (old name: Wuhan Canglong Royal

Palace)

185.0

To be determined

Dalian International Health Technology Town II

34.4

To be determined

Huzhou Silk Town *

144.1

2019 Q3

Xingyang Splendid New Project

147.5

To be determined

Foshan Xinchuang AI International Science and Technology Innovation

Valley

456.8

To be determined

Total projects under planning

3,237.5

Total active projects

1,987.1

Total of all Xinyuan unsold projects in China

5,224.6

* The Company owns 51% equity interest indirectly in Huzhou Xinhong Renju Construction Development Co.,

which develops Huzhou Silk Town. Based on the articles of association,the company cannot exercise control of Huzhou

Silk Town,but has the ability to exercise significant influence over Huzhou Silk Town's operating and financial decisions

and accounted for it as an equity method investment.

Update on Real Estate Projects in the United States

As of June 30,a total of 177 units out of 216 units were sold and closed at the Company's Oosten project in Brooklyn,New York City,with total revenue from this project reaching US$260.1million.

During the secondquarter,the Company completed superstructure construction and closed out 90% of the external wall and windows for the Hudson Garden project,BLOOM ON FORTY FIFTH,in the Hell's Kitchen area of Manhattan,New York City. During the past year,the design drawings were optimized,increasing the number of units from 82 to 92. Of the 38,000 square feet of retail/commercial space,a total of 29,000 square feet have been leased to the U.S. department store retailer Target for a 20-year term.The offering plan was approved in the first quarter of 2019,and the launch of presales is expected to begin in the end of the fourth quarter of 2019.

The Company continued to execute on the planning,governmental approvals,and pre-development activities of its ground-up project,the RKO,in Flushing,the Landmark Preservation Committee approved the Company's landmark protection plan relating to the landmarked theater on site and awarded the Company a Certificate of Appropriateness. Landmark artifact removal was completed at the end of February 2019,and the artifacts are currently stored in a warehouse for restoration work.

Real Estate Project Update in the United Kingdom

During the second quarter of 2019,the structural frame of the Company'sMadison project in London was completed,reaching a significant milestone for the delivery of the project. Construction remains on track for completion in 2020.

Of the 423 residential units in The Madison,all of the 104 Affordable Housing apartments have been pre-sold to a regulated affordable housing provider. Of the remaining 319 apartments,134 apartments have been sold.

Business Outlook

For the full year of 2019,the Company expects an increase in contract sales of about 10% and an increase in consolidated net income of 15% to 20% over 2018.

Conference Call Information

The Company will hold a conference call at 8:00 am ET on August 16,to discuss its second quarter 2019 results. Listeners may access the call by dialing:

US Toll Free:

1-800-458-4121

International:

1-323-794-2597

A webcast will also be available through the Company's investor relations website at http://ir.xyre.com.

A replay of the call will be available through August 23,by dialing:

US:

1-844-512-2921

International:

1-412-317-6671

Access code:

5806910

About Xinyuan Real Estate Co.,Ltd.

Xinyuan Real Estate Co.,Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and recently in other countries. In China,Xinyuan develops and manages large scale,high quality real estate projects in over ten tier one and tier two cities,including Beijing,Shanghai,Zhengzhou,Jinan,Xi'an,and Suzhou. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information,please visit http://www.xyre.com.

Forward Looking Statements

Certain statements in this press release constitute "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 includes statements about estimated financial performance and sales performance and activity,among others,and can generally be identified by terminology such as "will","expects","anticipates","future","intends","plans","believes","estimates" and similar statements. Statements that are not historical statements 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,our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter successfully into new geographic markets and new business lines and expand our operations; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws,regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; fluctuations in general economic and business conditions in the markets in which we operate; 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 31,2018. Except as required by law,we undertake no obligation to update or review publicly any forward-looking statements,whether as a result of new information,future events or otherwise,after the date on which the statement is made.

Notes to Unaudited Financial Information

This release contains unaudited financial information which is subject to year-end audit adjustments. Adjustments to the financial statements may be identified when the audit work is completed,which could result in significant differences between our audited financial statements and this unaudited financial information.

For more information,please contact:

In China:

Xinyuan Real Estate Co.,Ltd.

Mr. Charles Wang

Investor Relations Director

Tel: +86 (10) 8588-9376

Email: irteam@xyre.com

ICR,LLC

Mr. William Zima

In U.S.: +1-646-308-1472

Email: William.zima@icrinc.com

Media:

Mr. Edmond Lococo

In China: +86 (10) 6583-7510

Email: Edmond.Lococo@icrinc.com

XINYUAN REAL ESTATE CO.,LTD. AND ITS SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All US$ amounts and number of shares data in thousands,except per share data)

Three months ended

June 30,

March 31,

June 30,

2019

2019

2018

(unaudited)

(unaudited)

(unaudited)

Total revenue

609,439

468,853

355,832

Total costs of revenue

(450,224)

(337,804)

(246,452)

Gross profit

159,215

131,049

109,380

Selling and distribution expenses

(20,633)

(19,406)

(14,135)

General and administrative expenses

(42,343)

(36,644)

(32,888)

Operating income

96,239

74,999

62,357

Interest income

4,964

4,085

7,100

Interest expense

(28,384)

(24,306)

(24,704)

Net realized (loss) /gain on short-term investments

(333)

1,171

474

Unrealized gain/ (loss) on short-term investments

838

-

(696)

Other (expense)/ income

(867)

94

(1,037)

Net loss on debt extinguishment

(1,955)

(4,589)

-

Exchange (loss)/ gain

(4,354)

3,545

(22,518)

Share of loss of equity investees

(1,702)

(1,600)

(3,227)

Income from operations before income taxes

64,446

53,399

17,749

Income taxes

(44,621)

(35,209)

(27,046)

Net income/(loss)

19,825

18,190

(9,297)

Net (income) /loss attributable to non-controlling interest

(9,171)

1,419

2,506

Net income/(loss) attributable to Xinyuan Real Estate Co.,Ltd.

shareholders

10,654

19,609

(6,791)

Earnings/(loss) per ADS:

Basic

0.19

0.33

(0.10)

Diluted

0.19

0.33

(0.10)

ADS used in computation:

Basic

57,003

58,911

64,803

Diluted

57,371

59,325

65,877

XINYUAN REAL ESTATE CO.,LTD. AND ITS SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All US$ amounts and number of shares data in thousands,except per share data)

Six months ended

June 30,

2019

June 30,

2018

(unaudited)

(unaudited)

Total revenue

1,078,292

529,929

Total costs of revenue

(788,028)

(381,846)

Gross profit

290,264

148,083

Selling and distribution expenses

(40,039)

(26,309)

General and administrative expenses

(78,987)

(60,481)

Operating income

171,238

61,293

Interest income

9,049

13,450

Interest expense

(52,690)

(54,489)

Net realized gain on short-term investments

838

1,711

Unrealized gain/ (loss) on short-term investments

838

(937)

Other expense

(773)

(830)

Loss on extinguishment of debt

(6,544)

-

Exchange loss

(809)

(10,879)

Share of loss of equity investees

(3,302)

(4,149)

Income from operations before income taxes

117,845

5,170

Income taxes

(79,830)

(27,187)

Net income/(loss)

38,015

(22,017)

Net (income)/ loss attributable to non-controlling interest

(7,752)

4,821

Net income/(loss) attributable to Xinyuan Real Estate Co.,Ltd.

shareholders

30,263

(17,196)

Earnings/(loss) per ADS:

Basic

0.52

(0.27)

Diluted

0.52

(0.26)

ADS used in computation:

Basic

57,950

64,803

Diluted

58,309

66,082

XINYUAN REAL ESTATE CO.,LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(All US$ amounts and number of shares data in thousands)

June 30,

December 31,

2019

2019

2018

(unaudited)

(unaudited)

(audited)

ASSETS

Current assets

Cash and cash equivalents

666,057

761,190

674,142

Restricted cash

355,776

366,008

511,875

Short-term investments

838

-

8,442

Accounts receivable

73,158

44,473

64,130

Other receivables

176,299

171,271

166,633

Deposits for land use rights

22,546

46,038

42,254

Other deposits and prepayments

297,863

258,490

257,288

Advances to suppliers

51,550

47,909

46,983

Real estate properties development completed

714,651

623,871

632,360

Real estate properties under development

3,843,980

4,001,981

4,068,716

Amounts due from related parties

313,532

257,625

216,184

Amounts due from employees

2,955

4,315

1,694

Other current assets

1,334

602

520

Total current assets

6,520,539

6,583,773

6,691,221

Real estate properties held for lease,net

297,565

305,897

302,764

Property and equipment,net

35,725

37,512

38,114

Long-term investment

552,312

566,816

564,340

Deferred tax assets

206,511

241,823

230,453

Deposits for land use rights

21,819

22,276

21,855

Amounts due from related parties

24,632

27,289

26,122

Contract assets

20,316

16,292

21,779

Operating lease right-of-use assets

12,920

14,039

-

Other assets

131,910

135,710

137,063

TOTAL ASSETS

7,824,249

7,951,427

8,033,711

XINYUAN REAL ESTATE CO.,

2019

2019

2018

(unaudited)

(unaudited)

(audited)

LIABILITIES AND

SHAREHOLDERS' EQUITY

Current liabilities

Accounts payable and notes payable

833,073

704,397

790,631

Short-term bank loans and other debt

35,901

27,326

43,711

Customer deposits

1,573,859

1,827,630

1,921,851

Income tax payable

165,737

198,148

213,273

Other payables and accrued liabilities

340,145

341,919

341,108

Payroll and welfare payable

16,529

12,812

33,752

Current portion of long-term bank loans and other debt

1,207,191

1,823,724

1,647,918

Current maturities of lease obligations

12,320

12,604

6,562

Mandatorily redeemable non-controlling interests

6,905

22,892

22,559

Amounts due to related parties

32,224

41,204

48,502

Total current liabilities

4,223,884

5,012,656

5,069,867

Non-current liabilities

Long-term bank loans

732,874

790,267

720,039

Other long-term debt

1,619,007

872,468

1,040,455

Deferred tax liabilities

393,541

412,354

370,509

Unrecognized tax benefits

58,922

45,939

45,939

Lease obligations,net of current maturities

13,645

16,530

10,015

Amounts due to related parties

28,879

32,537

31,242

TOTAL LIABILITIES

7,070,752

7,182,751

7,288,066

Shareholders' equity

Common shares

16

16

16

Treasury shares

(104,233)

(97,934)

(87,639)

Additional paid-in capital

533,366

532,641

532,117

Statutory reserves

166,501

166,496

Retained earnings

117,904

112,660

99,502

Accumulated other comprehensive loss

(32,957)

(10,409)

(30,122)

Total Xinyuan Real Estate Co.,Ltd. shareholders' equity

680,597

703,475

680,370

Non-controlling interest

72,900

65,201

65,275

Total equity

753,497

768,676

745,645

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

7,711

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