DGAP-News: Yuxinlong International Ltd.: YUXINLONG STARTS SECOND PHASE OF RUNRIVER PROJECT
(firmenpresse) - DGAP-News: Yuxinlong International Ltd. / Key word(s): Market
Report/Miscellaneous
Yuxinlong International Ltd.: YUXINLONG STARTS SECOND PHASE OF
RUNRIVER PROJECT
24.02.2012 / 10:31
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YUXINLONG STARTS SECOND PHASE OF RUNRIVER PROJECT
Frankfurt, February 23, 2012 - The Chinese real estate development company
Yuxinlong is going to start phase 2 of its RunRiver residential project in
mid-March 2012. Having finished phase 1 before the beginning of winter in
2011, Yuxinlong will now begin the construction works of phase 2, planned
on a ground area of approximately 20 acres. The costs to complete this
second construction phase are estimated to amount to US$ 3.3 million. Once
all the properties are sold, the RunRiver project will yield a projected
revenue of US$ 11.9 million.
The management of Yuxinlong expects phase two of the project to be
completed by June 2013 and returns an estimated gross profit of US$ 8.5
million.
'We're confident that the current consumer trend to occupy individual
housing units will continue into the future. Furthermore the labor policies
of the Chinese government are destined to improve disposable income levels,
allowing individuals to seek affordable housing as an alternative to the
traditional worker dormitories of the past. That's why consumers are very
interested in the RunRiver project by now and we're anticipating high
advance sales during the construction', states Mr. Ying Chun Wang, CEO of
Yuxinlong.
About Yuxinlong International Limited
Yuxinlong International Limited was founded in 2007. The Company acts as
holding of the largest real estate developer in the Tanghai district in
China. Due to the construction of the world's largest harbour, the district
is regarded as China's upcoming economic development area. The 79-strong
management team of Yuxinglong currently employs 2.000 employees in its
construction and development projects. The Company is listed at the Open
Market segment of the Frankfurt Stock Exchange (ISIN CA98871V1013 / Ticker
YL0). In 2011, the Company reached sales of around US$73 million.
For further information please contact:
Kirchhoff Consult AG
Anja Ben Lekhal
T: +49 (0)40 609 186 55
F: +49 (0)40 609 186 60
E-Mail: anja.benlekhal(at)kirchhoff.de
Or visit us at www.yuxinlongint.com
Disclaimer
This publication is not an offer of any securities for sale or a
solicitation of an offer to purchase any securities. Subject to approval by
the German Financial Service Supervisory Authority (Bundesanstalt für
Finanzdienstleistungsaufsicht), a prospectus will be published, which will
be available free of charge from Yuxinlong International Limited and the
syndicate bank. The shares will be offered exclusively on the basis of the
prospectus required to be approved by the German Financial Service
Supervisory Authority.
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of
Yuxinlong International Limited (the 'Shares') have not been registered
under the U.S. Securities Act of 1933, as amended (the 'Securities Act')
and may not be offered or sold in the United States unless registered under
the Securities Act or pursuant to an exemption from such registration.
There will be no public offering of the Shares in the United States and the
Shares will not be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
This communication contains forward-looking statements Forward-looking
statements are statements that are not historical facts instead they
reflect the current views and expectations of Yuxinlong International
Limited and the assumptions underlying them about future events.
Forward-looking statements are subject to many risks and uncertainties. If
any of such risks and uncertainties materialize or if the assumptions
underlying any of the forward-looking statements of Yuxinlong International
Limited are proving to be incorrect, the actual results of Yuxinlong
International Limited may be materially different from those expressed or
implied by such forward-looking statements. Yuxinlong International Limited
does not intend or assume any obligation to update these forward-looking
statements. Any forward-looking statement speaks only as of the date on
which it is made.
End of Corporate News
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24.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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157964 24.02.2012
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