Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: MCsweet who wrote (49056)	8/10/2012 10:17:30 AM
From: MCsweet	Read Replies (2) \| Respond to of 78648

XIN summary, Great quarter, 0.94 on a $2.88 stock. 0.36 was on a one-time tax reversal, but 0.58 is still fantastic. Great cash generation. Acquired some foreclosed lots in the US that it will develop and market, this is small, but a diversification away from China seems reasonable. Buyback starts again in 3 days after blackout period. Announced new internal cash audit procedures to supplement what E&Y is doing. Non-deal roadshow in US in September to drum up interest. Already went ex for 0.04 dividend, which it plans to continue for foreseeable future -- buyback and dividend are showing me the money. Chinese property sales in July stayed high according to government releases. Thus even though I do not expect earnings to be as strong going forward, I do not expect them falling off a cliff. Before I start sounding like a pure pumper, XIN was more cautious about guidance going forward. There are few areas riskier and with worse sentiment than Chinese real estate (including significant country and regulatory risk) and there is still a non-zero probability that it is a fraud. Best, MC