XIN: BEIJING, March 1, 2016 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (XIN), an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that its Board of Directors has declared a cash dividend for the fourth quarter of 2015 of US$0.025 per common share, or US$0.05 per American Depositary Share (ADS), which will be payable on March 29, 2016 to shareholders of record as of March 15, 2016.
Fourth Quarter 2015 Highlights
•Total fourth quarter revenue increased 13.9% to US$413.6 million from US$362.9 million in the fourth quarter of 2014 and increased 33.9% from US$309.0 million in the third quarter of 2015.
•Contract sales increased 42.6% to US$574.2 million from US$402.6 million in the fourth quarter of 2014 and increased 85.4% from US$309.7 million in the third quarter of 2015.
•Total gross floor area ("GFA") sales increased 66.9% to 420,900 square meters from 252,200 square meters sold in the fourth quarter of 2014 and increased 80.4% from 233,300 square meters sold in the third quarter of 2015.
•Selling, General and Administrative ("SG&A") expenses as a percent of total revenue decreased to 13.3% from 14.6% in the fourth quarter of 2014 and decreased from 15.8% in the third quarter of 2015.
•Net income was US$19.1 million, compared to US$23.8 million in the fourth quarter of 2014 and US$22.7 million in the third quarter of 2015.
•Diluted net earnings per American Depositary Share ("ADS") attributable to shareholders were US$0.26, compared to US$0.30 in the fourth quarter of 2014 and US$0.31 in the third quarter of 2015.
•The Company repurchased 495,759 ADSs at a total cost of approximately US$1.7 million in the fourth quarter of 2015.
Full Year 2015 Highlights
•For the year ended December 31, 2015, total revenues increased 26.6% to US$1,164.3 million from US$919.7 million in 2014. GFA sales increased 56.7% to 986,100 square meters from 629,100 square meters in 2014. Contract sales increased 34.5% to US$1,401.1 million from US$1,041.6 million in 2014.
•Gross profit was US$273.0 million, or 23.4% of revenue in 2015, compared to a gross profit of US$242.2 million, or 26.3% of revenue in 2014. The Company commenced presales on six projects in 2015.
•SG&A expenses were US$167.5 million, or 14.4% of revenue in 2015, compared to US$145.1 million, or 15.8% of revenue in 2014.
•Net income was US$66.5 million in 2015 compared to US$48.5 million in 2014. Diluted earnings per ADS were US$0.91 in 2015 compared to US$0.58 per ADS in 2014.
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