6-K - XINRY - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

FOR THE MONTH OF MARCH 2022

COMMISSION FILE NUMBER: 001-33863

XINYUAN REAL ESTATE CO., LTD.

27/F, China Central Place, Tower II

79 Jianguo Road, Chaoyang District

Beijing 100025

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒	Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

TABLE OF CONTENTS

Exhibits<br><br> <br><br><br> <br>Exhibit<br> 99.1	Press Release of Xinyuan Real Estate Co., Ltd., dated March 14, 2022.
Signature

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

XINYUAN REAL ESTATE CO., LTD.
By:	/s/ Yu (Brian) Chen
Name:		Yu (Brian) Chen
Title:		Chief Financial Officer

Date: March 14, 2022

Exhibit 99.1

Xinyuan Real Estate Co., Ltd. Announces First Half 2021 Financial Results

Beijing, March 14, 2022 -- Xinyuan Real Estate Co., Ltd. (“Xinyuan” or “the Company”) (NYSE: XIN), an NYSE-listed real estate developer operating primarily in China and also in other countries, today announced its unaudited financial results for the six months ended June 30, 2021.

First half of 2021 highlights

•	Total revenues for the six months ended June 30, 2021 increased 91.5% to US$785.6 million from US$410.1 million for the first half of 2020.
•	Net loss for the six months ended June 30, 2021 increased 1.5% to US$70.2 million from net loss of US$69.2 million in the first half of 2020.
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•	Diluted net loss per ADS attributable to shareholders was US$1.22 for the six months ended June 30, 2021, which remains unchanged compared to the first half of 2020.
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Financial Results for the first half of 2021

Revenue

For the first half of 2021, the Company’s total revenue increased 91.5% to US$785.6 million compared to US$410.1 million for the first half of 2020.

Gross Profit

Gross profit for the first half of 2021 was US$102.4 million, or 13.0% of total revenue, compared to gross profit of US$47.3 million, or 11.5% of total revenue, for the first half of 2020.

Selling, General and Administrative Expenses

SG&A expenses were US$102.4 million for the first half of 2021 compared to US$95.4 million for the first half of 2020. As a percentage of total revenue, SG&A expenses were 13.0% compared to 23.3% for the first half of 2021 and 2020 respectively.

Net Loss

Net loss for the first half of 2021 was US$70.2 million compared to net loss of US$69.2 million for the first half of 2020.

Balance Sheet

As of June 30, 2021, the Company’s cash and restricted cash decreased to US$1,235.8 million from US$1,260.0 million as of December 31, 2020.

Total debt outstanding was US$2,893.4 million, which reflects a decrease of 3.9% from US$3,009.2 million as of December 31, 2020.

The balance of the Company’s real estate properties completed and under development at the end of the second quarter of 2021 was US$3,398.0 million compared to US$3,449.8 million as of December 31, 2020.

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. (“Xinyuan”) is an NYSE-listed real estate developer 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, Tianjin, Zhengzhou, Jinan, Qingdao, Chengdu, Xi’an, Suzhou, Dalian, Zhuhai and Foshan. 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 future debt and financial position, potential future collaborative efforts, 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; the impact of pandemics, such as Covid-19, on the real estate market and the economies in our markets; 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, 2020. 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:

Xinyuan Real Estate Co., Ltd.

Investor Relations Department

Tel: +86 (10) 8588-9376

Email: irteam@xyre.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)

	Six months ended
	June 30,<br><br> <br>2021			June 30,<br><br> <br>2020
	(unaudited)			(unaudited)
Total revenue		785,600			410,130
Total costs of revenue		(683,213	)		(362,806	)
Gross profit		102,387			47,324
Selling and distribution expenses		(33,913	)		(22,283	)
General and administrative expenses		(68,457	)		(73,112	)
Operating income/(loss)		17			(48,071	)
Interest income		6,793			8,491
Interest expense		(84,163	)		(60,697	)
Gain on short-term investments		2,442			4,361
Other income/(expense)		174			(1,322	)
Loss on extinguishment of debt		-			(778	)
Exchange gain/(loss)		9,057			(2,810	)
Share of gain/(loss) of equity investees		3,472			(551	)
Loss from operations before income taxes		(62,208	)		(101,377	)
Income tax (expenses)/benefits		(8,013	)		32,178
Net loss		(70,221	)		(69,199	)
Net loss attributable to non-controlling interest		4,917			3,436
Net loss attributable to Xinyuan Real Estate Co., Ltd. shareholders		(65,304	)		(65,763	)
Loss per ADS:
Basic		(1.22	)		(1.22	)
Diluted		(1.22	)		(1.22	)
ADS used in computation:
Basic		53,466			53,722
Diluted		53,471			53,722

XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

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

	June 30,<br><br> 2021		December 31,<br><br> 2020
	(unaudited)		(audited)
ASSETS
Current assets
Cash and restricted cash		1,017,197		1,027,848
Short-term investments		106,266		6,111
Accounts receivable		224,711		96,119
Other receivables		360,951		335,841
Deposits for land use rights		151,295		78,153
Other deposits and prepayments		352,748		323,322
Advances to suppliers		54,434		45,870
Real estate properties development completed and under development		3,397,959		3,449,829
Amounts due from related parties		261,672		233,441
Amounts due from employees		4,246		529
Other current assets		2,653		3,846
Total current assets		5,934,132		5,600,909
Restricted cash, non-current		218,596		232,134
Real estate properties held for lease, net		469,107		483,108
Property and equipment, net		40,891		42,760
Long-term investment		904,606		874,277
Deferred tax assets		299,148		272,534
Deposits for land use rights and properties		35,603		35,250
Amounts due from related parties		15,083		14,934
Contract cost assets		32,773		28,708
Operating lease right-of-use assets		2,816		8,517
Other assets		78,973		76,192
TOTAL ASSETS		8,031,728		7,669,323

XINYUAN REAL ESTATE CO., LTD. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

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

	June 30,<br><br> 2021			December 31,<br><br> 2020
	(unaudited)			(audited)
LIABILITIES AND
SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and notes payable		1,151,251			1,237,030
Short-term bank loans and other debt		19,744			13,625
Customer deposits		1,422,459			952,939
Income tax payable		223,849			278,096
Other payables and accrued liabilities		785,768			595,476
Payroll and welfare payable		906			18,102
Current portion of long-term bank loans and other debt		1,557,396			1,393,588
Lease liability, current portion		2,268			6,984
Mandatorily redeemable non-controlling interests		10,858			8,980
Amounts due to related parties		19,997			31,512
Total current liabilities		5,194,496			4,536,332
Non-current liabilities
Long-term bank loans		406,151			589,018
Other long-term debt		910,101			1,013,016
Deferred tax liabilities		438,009			389,967
Unrecognized tax benefits		101,824			101,199
Lease liability		6,647			3,161
Amounts due to related parties		10,836			10,728
TOTAL LIABILITIES		7,068,064			6,643,421
Shareholders’ equity
Common shares		16			16
Treasury shares		(116,062	)		(116,062	)
Additional paid-in capital		581,407			552,215
Statutory reserves		175,345			177,696
Retained earnings		(33,441	)		34,501
Accumulated other comprehensive (loss)/income		(2,429	)		17,105
Total Xinyuan Real Estate Co., Ltd. shareholders’ equity		604,836			665,471
Non-controlling interest		358,828			360,431
Total equity		963,664			1,025,902
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		8,031,728			7,669,323