Latest stock value to market: Xinyuan Real Estate Co., Ltd. (NYSE: XIN)

Xinyuan Real Estate Co., Ltd. (NYSE: XIN) remained among the day gainers losers and traded with change of -0.98 on volume of 53,408 shares in the last session as compared to average volume of 94677 shares. During last trade its minimum price was $2.01 and it gained highest price of $2.05. XIN has total market capitalization of $110.01M.

Xinyuan Real Estate Co., Ltd. (XIN) recently reported its unaudited financial results for the second quarter ended June 30, 2020.

Second Quarter 2020 Highlights

Total revenue in the second quarter of 2020 increased 126.1% to US$284.4M from US$125.8M in the first quarter of 2020.

Net loss in the second quarter of 2020 reduced 23.0% to US$30.1M from net loss of US$39.1M in the first quarter of 2020.

Diluted net loss per ADS attributable to shareholders in the second quarter of 2020 reduced 33.3% to US$0.49 from diluted net loss of US$0.73 in the first quarter of 2020.

Second quarter 2020 Financial Results

Revenue

In the second quarter of 2020, the Company’s total revenue reduced 53.3% to US$284.4M from US$609.4M in the second quarter of 2019 and increased 126.1% from US$125.8M in the first quarter of 2020.

Gross Profit

Gross profit for the second quarter of 2020 was US$19.2M, or 6.8% of total revenue, contrast to gross profit of US$159.2M, or 26.1% of total revenue, in the second quarter of 2019 and a gross profit of US$28.1M, or 22.3% of total revenue, in the first quarter of 2020. Gross margin reduced dramatically from the previous quarters, this is mainly because we made a prudent adjustment. Considering the current market price affected by the epidemic, we reduced the predictable selling price of several projects, the adjustment resulted in a important reduction of gross margin. Without the adjustment, gross margin for this quarter would be 22.5%.

Selling, General and Administrative Expenses

SG&A expenses were US$51.4M for the second quarter of 2020 contrast to US$63.0M for the second quarter of 2019 and US$44.0M for the first quarter of 2020. As a percentage of total revenue, SG&A expenses were 18.1% contrast to 10.3% in the second quarter of 2019 and 35.0% in the first quarter of 2020.

Net Income

Net loss for the second quarter of 2020 was US$30.1M contrast to net income of US$19.8M for the second quarter of 2019 and net loss of US$39.1M for the first quarter of 2020. Net margin was negative 10.6% contrast to 3.3% in the second quarter of 2019 and negative 31.1% in the first quarter of 2020. Diluted net loss per ADS was US$0.49 contrast to diluted net earnings of US$0.19 per ADS in the second quarter of 2019 and diluted net loss of US$0.73 per ADS in the first quarter of 2020.

The price moved ahead of -3.53% from the mean of 20 days, -5.42% from mean of 50 days SMA and performed -27.16% from mean of 200 days price. Company’s performance for the week was -5.61%, -9.42% for month and YTD performance remained -46.56%.

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