Yuxinlong International Ltd.
Yuxinlong International Ltd.: YUXINLONG STARTS SECOND PHASE OF RUNRIVER PROJECT
Yuxinlong International Ltd. / Key word(s): Market Report/Miscellaneous YUXINLONG STARTS SECOND PHASE OF RUNRIVER PROJECT Frankfurt, February 24, 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 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 24.02.2012 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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