BEIJING, April 30, 2021 /PRNewswire/ -- Xinyuan Real
Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), an
NYSE-listed real estate developer and property manager operating
primarily in China and in the
U.S., today announced that its Annual Report on Form 20-F for the
year ended December 31, 2020 (the
"Annual Report") could not be filed by April
30, 2021.
The Annual Report could not be filed on or before the
April 30, 2021 filing deadline
because the Company's Audit Committee, with the assistance of
advisors, is in the process of conducting an independent review of
certain transactions to assess their potential impact on the
Company's 2020 financial statements.
The Audit Committee is working diligently with its advisors to
complete the review in a timely manner. The Company will not be in
a position to file its Annual Report until the Audit Committee
completes its review and the Company assesses the results of the
review.
The Company intends to follow the procedures established in
Section 802.01E of the NYSE Listed Company Manual to address the
delayed filing. The delayed filing is not impacting the Company's
day-to-day operations, and it has no immediate effect on the
listing or trading of Xinyuan ADSs on the NYSE under the symbol
"XIN".
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, 2019.
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.
For more information, please contact:
In China:
Xinyuan Real Estate Co., Ltd.
Mr. Rick Wang
Investor Relations Department
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
The Blueshirt Group
Ms. Susie Wang
Mobile: +86 (138) 1081-7475
Email: susie@blueshirtgroup.com
In the United States:
The Blueshirt Group
Ms. Julia Qian
Email: Julia@blueshirtgroup.com
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SOURCE Xinyuan Real Estate Co., Ltd.
