Xinyuan Real Estate Co., Ltd. (NYSE: XIN), a real estate developer with operations primarily in China and projects in the United States, has announced its annual general meeting of shareholders will be held on December 19, 2024. The meeting is scheduled for 10:00 a.m. China Standard Time at the company's headquarters in Beijing, located at 27/F, China Central Place, Tower II, 79 Jianguo Road, Chaoyang District.
The company, which is listed on the New York Stock Exchange, has established November 22, 2024, as the shareholder record date for those eligible to attend and vote at the meeting. Details regarding the agenda and proxy statements for the annual general meeting will be accessible through Xinyuan's investor relations website in due course.
This announcement, based on a press release statement, comes as part of the company's compliance with the Securities Exchange Act of 1934, which requires foreign private issuers to inform shareholders of significant corporate events. The report was signed by Yong Zhang, the Chief Executive Officer of Xinyuan Real Estate Co., Ltd.
Investors and stakeholders of Xinyuan Real Estate Co., Ltd. are advised to monitor the investor relations section of the company's website for further details and documentation related to the upcoming annual general meeting.
In other recent news, Xinyuan Real Estate Co., Ltd., a residential real estate developer, has announced a significant change in its financial leadership. The company has appointed Mr. Bo Zhang as its new Chief Financial Officer (CFO), succeeding Mr. Yong Zhang, who has stepped down from the interim CFO position due to personal reasons. Importantly, Mr. Yong Zhang will continue to serve as the Chief Executive Officer (CEO) of the company.
The transition in the CFO role takes place as Xinyuan navigates the complexities of the real estate market. The company has clarified that there are no arrangements or understandings between Mr. Bo Zhang and any other persons regarding his appointment, and there are no familial ties between him and any other officers or directors of the company. Details about Mr. Bo Zhang's strategic priorities for the company's financial management were not disclosed in the Securities and Exchange Commission (SEC) filing.
These recent developments were detailed in Xinyuan's 6-K form, a report of foreign private issuers required by the SEC. This report provides investors and the public with timely information on significant corporate events. As always, Xinyuan continues to comply with the reporting requirements of foreign private issuers under the Securities Exchange Act of 1934.
InvestingPro Insights
As Xinyuan Real Estate Co., Ltd. (NYSE: XIN) prepares for its annual general meeting, investors may benefit from additional financial insights. According to InvestingPro data, XIN's market capitalization stands at $47.25 million USD, reflecting its current position in the real estate development sector. The company's revenue for the last twelve months as of Q2 2024 was $667.1 million USD, though it experienced a significant revenue decline of 48.04% during this period.
InvestingPro Tips highlight that XIN is trading at a low Price / Book multiple of 0.04, which could be of interest to value-oriented investors. Additionally, the company has shown a strong return over the last three months, with a price total return of 20.14%. This recent performance may be a topic of discussion at the upcoming shareholder meeting.
It's worth noting that XIN operates with a significant debt burden, which could be a concern for shareholders. This factor, along with the company's profitability over the last twelve months despite challenging conditions, may be important points for investors to consider when reviewing the company's financial health at the annual meeting.
For those seeking a more comprehensive analysis, InvestingPro offers 13 additional tips on XIN, providing a deeper understanding of the company's financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.