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Xinyuan Real Estate Co., Ltd. (XIN)

NYSE - Nasdaq Real Time Price. Currency in USD
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0.5573-0.0015 (-0.27%)
At close: 03:48PM EDT
0.5500 -0.01 (-1.31%)
After hours: 04:19PM EDT

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  • M
    MAX
    Anyone here with an Investment in Service Division 1895.hk
  • M
    Mike
    Been trading in a tight range. Is someone accumulating?
  • M
    Marco
    HK property management subsidiary started trading again today. Down over 60%. XIN is toast...
  • S
    Sean
    I don't think that XIN has another 10% in gains in it. Looks pretty bad here. I actually found (http://Achieverspot.tech) the other day and their stocks are way better...
  • K
    Kyle
    Audit deal between the US and China completed. Thus risk of delisting likely off the table.
  • C
    CALANDRINO
    I heard about XIN the other day on (http://dailygainalerts.tech). It’s looking like an interesting play.
  • M
    Mike
    Who / what do you all think has been buying and driving up sp?
  • M
    MMI
    The 20-F Filed 7/29/2022. If you've opened the filing and read through it incl. the BS, CF, etc. What's your opinion? They have very little cash left vs. previous filing. Do you see hope for those who are holding the ADR's?
  • M
    Marco
    In the explanatory note, it states that E&Y resigned because they did not agree that the issue of possibly improper related party transactions had been resolved to their satisfaction. Didn’t they say E&Y resigned because of some fee disagreements? In fact, the auditor did not believe that that the internal audit committee sufficiently resolved the case.

    “ Annual Report for 2020
    The filing of the annual report for 2020 was delayed because we required additional time to review certain transactions that Xinyuan's former auditor Ernst & Young Hua Ming LLP, or EY, identified as potential related party transactions.
    In order to develop this information, the Board of Directors directed the Audit Committee to review these transactions. The Audit Committee engaged the accounting firm, KPMG Advisory (China) Limited, or KPMG, and the law firm, Quinn Emanuel Urquhart & Sullivan, LLP, or Quinn Emanuel, to assist the Audit Committee with an internal review of these transactions, or the Internal Review.

    The Internal Review took approximately six months. As part of the Internal Review, KPMG and Quinn Emanuel: (i) reviewed the Company's policies and procedures regarding internal controls and related party transactions; (ii) reviewed relevant transactional records; (iii) independently obtained and reviewed bank account lists and bank transaction records for certain third parties and reconciled those records with the Company's books and records; (iv) conducted an e-mail and document review; (v) conducted site visits; (vi) conducted interviews with our employees and certain relevant third-parties; and (vii) tested additional sample bank transactions under a risk-based approach. In conducting the Internal Review, the Internal Review Team regularly received and incorporated input from EY and the Audit Committee.

    The Internal Review was completed in September 2021. It concluded that there was no direct evidence that the Company engaged in improper related party transactions. EY, however, does not believe the matters have been fully resolved to its satisfaction. As a result, EY resigned as the Company's external auditors. Accordingly, the Company's financial statements as of and for the two years ended December 31, 2020 have been audited by Union Power HK CPA Limited, or Union Power, as further described in Item 16 herein.

    The Internal Review did not identify any material weaknesses in the Company's internal controls. Nonetheless, following the Internal Review, the Audit Committee recommended that the Company engage in remedial efforts to enhance the Company's transactional review process.”
  • s
    sheep
    Dow down 400 pts and Xin up 12% ....very impressive. Maybe we get to that $7 target earlier than forecast?
  • C
    C
    is this rise merely a move because of an isolated buy, or is there still a chance for structural rising?
  • s
    sheep
    My 34c buy today was not the low but I'm quite happy. Looking to sell at $5 - if not this year then within 5.
  • M
    Mike
    What is the next scheduled report?
  • s
    sheep
    I guess the latest deal on the bonds is good long term for Xin.
  • R
    Rick
    July is coming to an end.
    Looks like it's time to come up with another excuse.
    Perhaps they can blame it on monkeypox this time.

    For those keeping score, XIN has now gone nearly 21 months without a conference call.
  • s
    sheep
    Just picked up more. One analyst target $7.
  • M
    Marco
    Target price: $0.20

    A company cannot default on an onshore loan and think they can keep going without a restructuring or asset sell-off. The reason they never filed their 20-F for last year is they have a going concern. And the board is trying to hide that from investors. That was most likely also the reason they terminated E&Y, the auditor pointed out a going concern and the board didn’t like it.
  • M
    Mike
    3x average volume. Is this all short activity!