Xinyuan Property Management to Receive Properties to Settle Outstanding Receivables

MT Newswires Live

May 20

Two indirect units of Xinyuan Property Management's (HKG:1895) controlling shareholder, Xinyuan Real Estate, will transfer certain properties to members of the Xinyuan Property Management group, a Monday Hong Kong bourse filing said.

The company said the move will allow Xinyuan Real Estate's units to offset certain outstanding accounts receivables owed to members of Xinyuan Property Management.

The transfer of the properties, which are worth a total of around 29.3 million yuan, is subject to shareholder approval.

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