Yuxinlong International Ltd.
Yuxinlong International Ltd.: YUXINLONG: CONSTRUCTION ON SCHEDULE OF CAO FEI LAKE PROJECT
Yuxinlong International Ltd. / Key word(s): Market Report/Miscellaneous 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 Or visit us at www.yuxinlongint.com Disclaimer 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 07.03.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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