Chinese real estate developer Xinyuan Real Estate Co. said Wednesday its third-quarter net takings dropped a third from the previous year due to administration limitations planned to curb real estate assumption.
Share of the company tumble on the news, falling 25 cents, or 8.1 percent, to $2.85 in late morning trade.
Net profits fell to $8 million, or 10 cents per American Real estate Depositary split, in the third quarter, from $12 million, or 14 cents per ADS, in the year-ago era.
Periodical revenue dropped 16 percent to $107.6 million from $128.2 million in the preceding year. Agreement sales slip 5 percent to $151 million from $159 million.
Full story
No comments:
Post a Comment