Xinyuan Real Estate slips to great loss in Q1Christian Fernsby ▼ | June 8, 2020
Xinyuan Real Estate reported that its net loss attributable to shareholders for the first quarter of 2020 was US$39.52 million or US$0.73 per ADS compared to net income of US$19.61 million or US$0.33 per ADS for the first quarter of 2019.
Xinyuan Real Estate Quarterly total revenue decreased 73.2%
Topics: Xinyuan Real Estate
The company said it strives to achieve contract sales of 20 billion RMB to 22 billion RMB in 2020, with consolidated net income in the range of $60 million to $80 million.
However, the company believes that the coronavirus outbreak is likely to have a material and extended adverse impact on its operational and financial results for full year 2020. ■