Xinyuan Real Estate Co (XIN) has released an update.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Xinyuan Real Estate Co. reported a significant drop in revenue for the first half of 2024, with a 59.9% decrease to $155.6 million due to a downturn in the real estate market. Despite a decrease in gross profit to $39.8 million, the company managed to raise its gross profit margin through cost optimization. However, the net loss widened to $47.9 million, highlighting ongoing financial challenges.
For further insights into XIN stock, check out TipRanks’ Stock Analysis page.