DGAP-News: Yuxinlong International Ltd.: YUXINLONG: CONSTRUCTION ON SCHEDULE OF CAO FEI LAKE PROJECT
(firmenpresse) - DGAP-News: Yuxinlong International Ltd. / Key word(s): Market
Report/Miscellaneous
Yuxinlong International Ltd.: YUXINLONG: CONSTRUCTION ON SCHEDULE OF
CAO FEI LAKE PROJECT
07.03.2012 / 14:00
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YUXINLONG: CONSTRUCTION ON SCHEDULE OF CAO FEI LAKE PROJECT
Frankfurt, March 07, 2012 - In June 2011, the Chinese real estate
development company Yuxinlong International Limited signed a Letter of
Intent to acquire the lakefront properties situated on Cao Fei Lake.
Yuxinlong plans at Cao Fei Lake the construction of 300 luxury homes, each
with a space of 43.4 hectares. During the first phase, completed in
November 2011, the foundations of 100 homes had been laid. In March, with
the weather warming up, the project will enter into an accelerated
construction schedule.
The construction of the 300 units of luxury homes at an average price of
$600,000 will be completed in 2013. The first phase with 100 homes will be
concluded and sold until July 2012, when the high-speed railroad starts
passenger service. Yuxinlong estimates the anticipated revenue for the
first phase of the project to exceed US$60 Million and a gross income of
US$ 15 Million.
Yuxinlong will initiate the development of the Cao Fei Lake area in
cooperation with the CYTS Group, which also is responsible for the design
of the Yuxinlong Water City project. In order to coordinate the joint
venture between the two companies, Yuxinlong CEO Ying Chun Wang offered a
Director's position with Yuxinlong to Mr. Lu Dan, Executive Director of
CYTS.
'It's a pleasure for us to cooperate with the CYTS group, which is one of
the major contributors in the transformation of potential recreational
areas into top notch tourist attractions in China. We are excited to assist
such a prestigious company with building the Cao Fei Lake properties and to
support the future development of Water City, which will be the signature
development for CYTS Group and Yuxinlong in the region', says Mr. Wang Ying
Chun.
The selling prices for the homes are between US$500,000 to US$1 million.
Most of the prospective buyers are residents of Beijing, as the Cao Fei
Lake area in future will become more and more importance as the backyard
playground of the capital. A key factor in this is the high-speed railroad
between Cao Fei Lake and Beijing, which is expected to start operating in
July 2012 and which will reduce the current travel time from Beijing to a
mere 45 minutes train ride.
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 upcomming 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 73 million US-Dollar.
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 securitiesfor 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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