0001104659-24-061570 | 20-F | XBRL Viewer | Xinyuan Real Estate Co LTD

Property and equipment, net (Tables)

12 Months Ended

Dec. 31, 2023


	December 31,	December 31,
	2022	2023
	US$	US$
Corporate aircraft	36,948,606	36,332,509
Vehicles	4,235,388	4,164,765
Furniture and fixtures	8,958,370	8,690,083
Office buildings	17,708,077	17,412,804
Total	67,850,441	66,600,161
Accumulated depreciation	(39,019,330)	(41,056,802)
Property and equipment, net	28,831,111	25,543,359

Non-controlling interests (Tables)

12 Months Ended

Dec. 31, 2023

Non-controlling interests

Schedule of non-controlling interests

As of December 31, 2022, the non-controlling interests consisted of the following:


			December 31,
	Ownership		2022
			US$
Shaanxi Zhongmao Economy Development Co., Ltd.	34.02	%	—
Xinyuan Property Management Service (Cayman) Ltd.	40.53	%	(78,177,157)
Taicang Pengchi Real Estate Co., Limited. (Note 18 (a))	83.00	%	(33,861,921)
Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd. (Note 18 (a.b))	80.00	%	(36,302,338)
Henan Renxin Real Estate Co., Ltd.	49.00	%	—
Suzhou Yefang Real Estate Co., Limited. (Note 18(a.b))	79.99	%	(11,482,112)
Zhengzhou Xinhe Real Estate Co., Ltd	20.00	%	1,650,839
Others			5,498,759

Total			(152,673,930)

As of December 31, 2023, the non-controlling interests consisted of the following:


			December 31,
	Ownership		2023
			US$
Shaanxi Zhongmao Economy Development Co., Ltd.	34.02	%	—
Xinyuan Property Management Service (Cayman) Ltd.	40.53	%	(77,892,291)
Taicang Pengchi Real Estate Co., Limited. (Note 18 (a))	83.00	%	(33,373,465)
Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd. (Note 18 (a.b))	80.00	%	(27,244,465)
Henan Renxin Real Estate Co., Ltd.	49.00	%	—
Suzhou Yefang Real Estate Co., Limited. (Note 18(a.b))	79.99	%	(11,290,614)
Zhengzhou Xinhe Real Estate Co., Ltd	20.00	%	2,792,991
Others			5,866,648

Total			(141,141,196)

Condensed financial information of the Company

12 Months Ended

Dec. 31, 2023

Condensed financial information of the Company

Condensed financial information of the Company

25. Condensed financial information of the Company

The condensed financial statements of Xinyuan Real Estate Co., Ltd. have been prepared in accordance with U.S. GAAP. Under the PRC laws and regulations, the Company’s PRC subsidiaries are restricted in their ability to transfer certain of their net assets to the Company in the form of dividend payments, loans or advances. The amounts restricted include paid-in capital and statutory reserves, as determined pursuant to PRC generally accepted accounting principles, totaling US$854,952,913 as of December 31, 2023 (2022: US$856,960,327).

Condensed Balance Sheets


	December 31
	2022	2023
	US$	US$

ASSETS

Current assets
Cash and cash equivalents	2,794,414	344,215
Short-term investments	946,076	286,054
Other receivables	1,037,835	1,051,960
Due from subsidiaries	49,101,879	49,101,879
Total current assets	53,880,204	50,784,108
Investments in subsidiaries	1,008,221,487	985,740,913
TOTAL ASSETS	1,062,101,691	1,036,525,021
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
PRC income tax payable	13,388	13,388
PRC other tax payable	902,190	902,190
Other payable and accrued liabilities	88,642,571	105,408,095
Current portion of long-term bank loan and other debt	721,386,784	392,972,209
Due to subsidiaries	320,978,971	338,802,242
Payroll and welfare payables	64,888	64,509
Total current liabilities	1,131,988,792	838,162,633
Other long-term debt	—	232,091,202
Total liabilities	1,131,988,792	1,070,253,835
Shareholders' equity
Common shares, $0.0001 par value:
Authorized‑500,000,000 shares, issued and outstanding 113,671,841 shares as of December 31, 2023 (2022: 108,029,257 shares)	16,415	17,554
Treasury shares	(116,061,577)	(116,793,448)
Additional paid-in capital	544,954,556	546,549,246
Retained earnings	(498,796,495)	(463,502,166)
Total shareholders' equity	(69,887,101)	(33,728,814)

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,062,101,691	1,036,525,021

Condensed Statements of Comprehensive (Loss)/Income


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
General and administrative expenses	(4,965,230)	(4,993,180)	(1,962,954)

Operating loss	(4,965,230)	(4,993,180)	(1,962,954)
Interest expense	(121,289,406)	(107,459,673)	(116,296,860)
Interest income	545,599	1,139	1,102
Net gain on debt extinguishment	—	9,620,914	169,932,886
Gain/(loss) on short-term investments	(1,627,139)	(68,931,940)	(660,022)
Other expenses/(income)	(878,154)	1,395,668	6,760,754
Equity in profit/(loss) of subsidiaries, net	(289,093,048)	(92,986,489)	(17,492,881)
(Loss)/income from operations before income taxes	(417,307,378)	(263,353,561)	40,282,025
Income taxes	—	—	—
Net (loss)/income attributable to common shareholders	(417,307,378)	(263,353,561)	40,282,025
Other comprehensive income/(loss), net of tax of nil
Foreign currency translation adjustments	17,818,154	(56,538,757)	(4,987,693)
Comprehensive (loss)/income attributable to shareholders	(399,489,224)	(319,892,318)	35,294,332

Condensed Statements of Cash Flows


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
Cash flows from operating activities:
Net (loss)/income	(417,307,378)	(263,353,561)	40,282,023
Adjustment to reconcile net (loss) income to net cash used in operating activities:
Equity in (profit)/loss of subsidiaries, net	289,093,048	92,986,489	17,492,881
Stock based compensation expense	1,625,318	568,046	—
Loss on short-term investments	1,627,139	68,931,940	660,022
Proceeds from disposal of short-term investments	—	359,025	—
Amortization of deferred charges	—	5,472,222	7,739,849
Loss/(gain) on extinguishment of debt	—	(9,620,914)	(169,932,886)
Other receivables	168,246	634,819	(14,125)
Other current assets	—	—	—
Other payable and accrued liabilities	4,000,802	53,426,168	93,426,988
Payroll and welfare payables	1,363,218	(460,149)	(381)
Net cash used in operating activities	(119,429,607)	(51,055,915)	(10,345,629)
Cash flows from investing activities:
Investment in short-term investments	(72,502,807)	—	—
Net cash used in investing activities	(72,502,807)	—	—
Cash flows from financing activities:
Changes in due from subsidiaries	447,436,262	54,889,206	17,823,271
Proceeds from short-term bank loans	—	—	—
Repayment of current portion of long-term bank loan and other long-term debt	(128,520,000)	—	(10,791,800)
Proceeds from long-term bank loans	—	—	—
Proceeds from other long-term debts	270,000,000	—	—
Repayment of other long-term debts	(390,958,220)	(1,199,086)	—
Purchase of treasury shares	—	—	(731,871)
Dividends to shareholders	(4,055,664)	—	—
Payment of financing cost	(4,272,797)	—	—
Proceeds from issuance of common shares	—	—	1,595,830
Net cash provided by financing activities	189,629,581	53,690,120	7,895,430
Net (decrease)/increase in cash and cash equivalents	(2,302,833)	2,634,205	(2,450,199)
Cash and cash equivalents, at the beginning of the year	2,463,042	160,209	2,794,414

Cash and cash equivalents, at end of the period	160,209	2,794,414	344,215

(a) Basis of presentation

In the company-only financial statements, the Company’s investment in subsidiaries is stated at cost plus its equity interest in undistributed earnings of subsidiaries since inception. The company-only financial statements should be read in conjunction with the Company’s consolidated financial statements.

The Company records its investment in its subsidiaries under the equity method of accounting as prescribed in ASC 323. Such investment is presented on the balance sheet as “Investments in subsidiaries” and share of the subsidiaries’ profit or loss as “Equity in profit of subsidiaries, net” on the condensed statements of comprehensive income.

The subsidiaries did not pay any dividends to the Company for the periods presented.

(b) Related party transactions

As of December 31, 2023, the Company had US$338,802,242 (2022: US$320,978,971) due to its wholly-owned subsidiaries. These amounts mainly reflect intercompany loans from the Company to Xinyuan Real Estate, Ltd. While intercompany loans have no fixed payments terms, the Company has a legal enforceable right to demand payment at any time, and Xinyuan Real Estate, Ltd. has the ability to repay the outstanding balances on demand.

In 2013, the Company also entered into a separate loan facility agreement with XIN Development Group International Inc. Pursuant to the agreement, the Company provided a loan facility to XIN Development for the period from July 1, 2013 to January 18, 2018 amounting to US$50,000,000 at 17.5% per annum. As of December 31, 2023, the Company had US$116,656,089 (2022: US$116,656,089), including accrued interest of US$67,554,210 (2022: US$67,554,210), due from XIN Development under this loan facility.

Except for those disclosed in the Company’s condensed financial information, the Company does not have significant commitments or long-term obligations as of the period end presented.

Segment reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment reporting

Schedule of operating segment

Summary information by operating segment is as follows:


December 31, 2021	Henan	Shandong	Shanghai	Sichuan	Beijing	Hainan	Hunan	Shaanxi	United States	Guangdong	Hubei	Liaoning	Property Management	Others	Consolidated
	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$
Net real estate sales	338,195,148	174,353,777	135,072,403	128,609,911	313,960,495	—	8,271,910	166,007,116	23,325,750	68,681,906	118,952	35,642,637	—	—	1,392,240,005
Real estate lease income	9,344,804	665,170	1,339,557	532,240	371,919	—	1,223,472	3,251,637	2,980,504	—	13,482	—	—	58,559	19,781,344
Real estate management services income	6,746,892	—	—	—	—	—	—	2,793,044	—	—	—	—	100,282,270	—	109,822,206
Other revenue	2,851,496	16,356	2,030,340	121,935	2,851,344	413	838,306	—	3,107,481	507,500	—	52,439	1,796,616	—	14,174,226

Total revenue	357,138,340	175,035,303	138,442,300	129,264,086	317,183,758	413	10,333,688	172,051,797	29,413,735	69,189,406	132,434	35,695,076	102,078,886	58,559	1,536,017,781
Cost of real estate sales	(369,888,568)	(176,289,676)	(125,086,848)	(163,249,870)	(250,046,777)	—	(9,214,046)	(142,797,184)	(32,460,834)	(58,588,051)	(25,726)	(31,696,836)	—	—	(1,359,344,416)
Cost of real estate lease income	(15,658,378)	(611,378)	(193,442)	(404,647)	(542,152)	—	(1,206,177)	(62,840)	(3,740,076)	—	—	—	—	(19,090)	(22,438,180)
Cost of real estate management services	(3,708,523)	—	—	—	—	—	—	(4,321,229)	—	—	—	—	(65,948,453)	—	(73,978,205)
Other costs	(1,320,332)	(16,170)	(111,927)	(1,354,318)	(5,762,646)	—	(742,247)	—	—	(2,172,592)	—	(61,703)	(778,129)	—	(12,320,064)

Total cost of revenue	(390,575,801)	(176,917,224)	(125,392,217)	(165,008,835)	(256,351,575)	—	(11,162,470)	(147,181,253)	(36,200,910)	(60,760,643)	(25,726)	(31,758,539)	(66,726,582)	(19,090)	(1,468,080,865)
Gross profit	(33,437,461)	(1,881,921)	13,050,083	(35,744,749)	60,832,183	413	(828,782)	24,870,544	(6,787,175)	8,428,763	106,708	3,936,537	35,352,304	39,469	67,936,916
Operating expenses	(67,226,888)	(10,880,365)	(19,136,811)	(8,500,877)	(80,605,508)	(310,883)	(1,059,651)	(9,182,945)	(7,223,166)	(10,540,700)	(1,273,031)	(4,700,371)	(8,869,355)	(24,468,860)	(253,979,411)
Impairment losses on goodwill and intangible assets	—	—	—	—	—	—	—	—	—	—	—	—	—	(18,651,259)	(18,651,259)

Operating (loss) /income	(100,664,349)	(12,762,286)	(6,086,728)	(44,245,626)	(19,773,325)	(310,470)	(1,888,433)	15,687,599	(14,010,341)	(2,111,937)	(1,166,323)	(763,834)	26,482,949	(43,080,650)	(204,693,754)
Interest income	18,709,958	(126,051)	348,282	728,264	249,117	25,957	7,576	254,323	1,610	33,242	202	23,321	2,421,863	5,619,160	28,296,824
Interest expense	(12,070,505)	(5,794,489)	(910,853)	(26,416,301)	(2,078,190)	—	—	(8,046,152)	(15,736,448)	(358,532)	—	—	(64,549)	(111,922,753)	(183,398,772)
Net realized loss on short-term investments	—	—	—	—	—	—	—	—	—	—	—	—	—	(30,203,357)	(30,203,357)
Share of (loss)/gain in an equity investee	1,090,507	(1,873,472)	1,052,997	—	—	—	—	—	—	(4,010,602)	—	—	(1,004,547)	(18,600,648)	(23,345,765)
Exchange (loss) /gains	(20,163,471)	—	(21)	—	—	—	—	—	—	—	—	—	(203,338)	10,659,367	(9,707,463)
Other (loss) /income	(2,110,256)	3,336,726	144,617	138,413	(644,101)	(36,650)	205,877	381,157	17,770	(1,434,297)	1,789	(46,098)	942,072	1,612,626	2,509,645

(Loss) /income before income taxes	(115,208,116)	(17,219,572)	(5,451,706)	(69,795,250)	(22,246,499)	(321,163)	(1,674,980)	8,276,927	(29,727,409)	(7,882,126)	(1,164,332)	(786,611)	28,574,450	(185,916,255)	(420,542,642)
Income tax benefit/(expense)	43,657,150	(3,885,809)	(4,274,715)	12,936,548	(21,349,169)	1,431,319	(3,023,380)	(9,366,699)	(144,962)	(1,674,207)	(1,926,116)	(1,471,006)	(4,832,629)	1,204,203	7,280,528

Net income/(loss)	(71,550,966)	(21,105,381)	(9,726,421)	(56,858,702)	(43,595,668)	1,110,156	(4,698,360)	(1,089,772)	(29,872,371)	(9,556,333)	(3,090,448)	(2,257,617)	23,741,821	(184,712,052)	(413,262,114)

Depreciation and amortization	6,842,628	914,765	198,149	1,130,049	3,942,986	—	—	1,934,681	1,037,064	12,193	48,721	19,401	526,727	1,660,151	18,267,515
Capital expenditure	1,965,626	—	—	5,261	1,076,187	—	—	576	241,312	—	—	17,091	668,407	(3,869,649)	104,811
Real estate properties completed and under development	909,477,150	116,698,109	105,042,744	527,858,832	173,273,166	—	3,312,065	45,339,962	307,041,456	398,158,018	190,450,736	59,279,630	—	33,690,834	2,869,622,702
Real estate properties held for lease	72,022,044	4,133,570	36,147,355	36,470,962	8,510,518	—	59,903,607	96,574,698	126,157,420	—	—	—	—	380,197	440,300,371

Total long-lived assets	431,132,864	517,720,952	138,953,401	49,540,764	46,722,553	5,813,925	75,895,086	107,098,269	139,099,651	53,982,579	920,192	773,073	15,628,394	77,178,239	1,660,459,942
Total assets	2,279,523,193	416,680,530	600,814,871	710,687,239	313,031,361	11,747,496	82,923,478	289,048,826	468,517,290	568,073,393	196,509,533	69,505,369	176,825,788	262,390,923	6,446,279,290


December 31, 2022	Henan	Shandong	Shanghai	Sichuan	Beijing	Hainan	Hunan	Shaanxi	United States	Guangdong	Hubei	Liaoning	Property Management	Others	Consolidated
	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$
Net real estate sales	133,906,983	152,896,390	3,056,829	93,804,069	142,331,456	—	(1,058,911)	191,013,871	58,007,780	34,659,102	564,076	231,278	—	—	809,412,923
Real estate lease income	7,268,773	1,530,316	2,080,042	416,589	177,246	—	1,162,618	2,349,797	4,041,509	1,727,356	—	—	—	28,366	20,782,612
Real estate management services income	4,448,994	—	—	—	—	—	—	1,833,511	—	—	—	—	99,177,566	—	105,460,071
Other revenue	7,894,262	8,316	552,228	(35,831)	1,727,882	—	904,831	446	—	805,323	—	149,812	2,349,298	—	14,356,567
Total revenue	153,519,012	154,435,022	5,689,099	94,184,827	144,236,584	—	1,008,538	195,197,625	62,049,289	37,191,781	564,076	381,090	101,526,864	28,366	950,012,173
Cost of real estate sales	(134,259,620)	(171,319,778)	(7,306,487)	(87,599,735)	(110,230,204)	—	943,112	(156,675,331)	(75,759,072)	(25,841,656)	(21,408)	(286,074)	—	—	(768,356,253)
Cost of real estate lease income	(9,680,982)	(852,927)	(778,313)	(219,502)	(365,600)	—	(363,485)	128,004	(2,081,799)	(6,023,790)	—	—	—	(49,559)	(20,287,953)
Cost of real estate management services	(5,631,437)	—	3,188,299	—	—	—	—	(3,694,930)	—	—	—	—	(73,471,668)	—	(79,609,736)
Other costs	(1,031,030)	—	617,889	(924,057)	(5,578,881)	—	(710,529)	—	—	(882,999)	—	(19,164)	(1,273,352)	—	(9,802,123)
Total cost of revenue	(150,603,069)	(172,172,705)	(4,278,612)	(88,743,294)	(116,174,685)	—	(130,902)	(160,242,257)	(77,840,871)	(32,748,445)	(21,408)	(305,238)	(74,745,020)	(49,559)	(878,056,065)
Gross profit	2,915,943	(17,737,683)	1,410,487	5,441,533	28,061,899	—	877,636	34,955,368	(15,791,582)	4,443,336	542,668	75,852	26,781,844	(21,193)	71,956,108
Operating expenses	(11,698,488)	(13,408,341)	(3,366,711)	(3,728,249)	(42,774,682)	(47,094)	(1,242,859)	(5,165,593)	(17,406,597)	(3,297,920)	(1,331,279)	(2,089,948)	(9,376,483)	(12,111,766)	(127,046,010)
Gain on disposal of property held for lease	2,650,215	397,708	2,150,988	—	—	—	—	—	—	—	—	—	—	488,401	5,687,312
Operating income/(loss)	(6,132,330)	(30,748,316)	194,764	1,713,284	(14,712,783)	(47,094)	(365,223)	29,789,775	(33,198,179)	1,145,416	(788,611)	(2,014,096)	17,405,361	(11,644,558)	(49,402,590)
Interest income	1,602,637	280,967	656,403	250,397	1,093,214	145	3,073	667,222	701	31,785	78	1,283	1,449,210	2,170,212	8,207,327
Interest expense	(13,389,344)	(1,818,414)	(99,438)	(24,130,024)	(962,042)	—	—	(4,726,423)	(15,815,618)	—	—	—	(69,672)	(96,997,436)	(158,008,411)
Net realized gain on short-term investments	—	—	—	—	463	—	—	—	—	—	—	—	—	(71,675,917)	(71,675,454)
Share of (loss) /gain in an equity investee	(3,718,820)	—	3,784,015	—	—	—	—	—	—	(15,920,880)	—	—	(810,983)	(9,499,870)	(26,166,538)
Gain on extinguishment of debt	—	—	—	—	—	—	—	—	—	—	—	—	—	9,620,914	9,620,914
Exchange gains	45,800,405	—	—	—	—	—	—	—	—	—	—	—	(699,044)	(5,149,023)	39,952,338
Other income/(expense)	(1,587,295)	17,236	(19,220)	277,819	420,916	325	187,576	49,144	(36,029)	99,781	(8,098)	(1,452,134)	881,696	(800,566)	(1,968,849)
Income/(loss) before income taxes	22,575,253	(32,268,527)	4,516,524	(21,888,524)	(14,160,232)	(46,624)	(174,574)	25,779,718	(49,049,125)	(14,643,898)	(796,631)	(3,464,947)	18,156,568	(183,976,244)	(249,441,263)
Income tax benefit/(expense)	(12,780,775)	22,127,223	(3,927,044)	(2,443,468)	(4,379,784)	463	174,167	(2,378,418)	1,206,732	(2,377,772)	(1,359,448)	(485,277)	(1,482,371)	(1,135,690)	(9,241,462)
Net income/(loss)	9,794,478	(10,141,304)	589,480	(24,331,992)	(18,540,016)	(46,161)	(407)	23,401,300	(47,842,393)	(17,021,670)	(2,156,079)	(3,950,224)	16,674,197	(185,111,934)	(258,682,725)
Depreciation and amortization	5,516,725	874,640	647,400	1,095,409	1,162,790	—	—	1,832,811	612,887	—	23,806	13,918	533,861	853,960	13,168,207
Capital expenditure	5,221,417	803	—	—	1,577	—	—	—	(63)	—	4,186	—	8,455	—	5,236,375
Real estate properties completed and under development	1,159,231,389	412,162,579	100,867,987	577,969,652	45,945,861	—	4,995,367	35,489,672	266,654,891	395,241,531	191,185,397	53,684,534	—	33,627,793	3,277,056,653
Real estate properties held for lease	48,958,513	2,434,604	32,354,424	32,786,449	7,676,329	—	54,293,887	86,799,863	107,905,636	—	—	—	—	258,162	373,467,867

Total long-lived assets	386,224,257	13,434,007	133,703,563	49,512,464	24,828,219	5,774,972	68,720,346	96,615,555	118,812,943	34,008,878	769,742	857,181	7,209,649	20,599,425	961,071,201
Total assets	2,270,506,759	259,228,051	540,587,961	709,048,905	240,590,331	11,212,039	78,448,652	323,750,877	404,653,727	499,695,879	197,190,024	61,041,098	147,478,659	106,845,365	5,850,278,327


December 31, 2023	Henan	Shandong	Shanghai	Sichuan	Beijing	Hainan	Hunan	Shaanxi	United States	Guangdong	Hubei	Liaoning	Property Management	Others	Consolidated
	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$

Net real estate sales	152,591,635	89,069,287	11,669,658	147,542,499	107,053,837	—	627,881	109,258,071	27,489,898	(2,069,637)	(11,697)	14,811,733	—	40,008	658,073,173
Real estate lease income	29,274,568	1,009,694	1,511,669	397,685	86,982	—	(3,735,823)	2,640,636	4,082,885	1,926,668	—	10,856	—	12,631	37,218,451
Real estate management services income	1,538,767	—	—	156,324	—	—	—	210,556	—	—	—	—	91,771,226	1	93,676,874
Other revenue	7,909,151	—	(286,625)	277,249	(509,601)	—	873,996	—	—	109,324	—	2,777	7,629,706	—	16,005,977
Total revenue	191,314,121	90,078,981	12,894,702	148,373,757	106,631,218	—	(2,233,946)	112,109,263	31,572,783	(33,645)	(11,697)	14,825,366	99,400,932	52,640	804,974,475
Cost of real estate sales	(163,057,353)	(82,219,415)	(9,614,743)	(133,082,218)	(64,969,677)	—	7,156,894	(74,748,589)	(27,840,145)	2,229,267	63,011	(11,578,004)	(1,583)	(240)	(557,662,795)
Cost of real estate lease income	(23,817,603)	(240,837)	(780,902)	(697,495)	(183,762)	—	(667,817)	(2,861,696)	(3,403,014)	(1,213,136)	—	—	—	(53,959)	(33,920,221)
Cost of real estate management services	(2,749,635)	—	—	(340,884)	—	—	—	(233,866)	—	—	—	—	(68,985,669)	—	(72,310,054)
Other costs	(1,701,411)	—	695,476	(12,739)	(3,076,605)	—	(714,677)	—	—	(237,609)	—	(20,733)	(3,547,751)	—	(8,616,049)
Total cost of revenue	(191,326,002)	(82,460,252)	(9,700,169)	(134,133,336)	(68,230,044)	—	5,774,400	(77,844,151)	(31,243,159)	778,522	63,011	(11,598,737)	(72,535,003)	(54,199)	(672,509,119)
Gross profit	(11,881)	7,618,729	3,194,533	14,240,421	38,401,174	—	3,540,454	34,265,112	329,624	744,877	51,314	3,226,629	26,865,929	(1,559)	132,465,356
Operating expenses	(12,866,682)	(5,303,199)	(2,607,527)	(2,561,480)	(21,019,160)	(57,945)	(336,874)	(2,428,759)	(8,828,446)	(1,372,742)	242,080	(908,802)	(19,787,513)	(6,334,754)	(84,171,803)
Gain on disposal of property held for lease	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating income/(loss)	(12,878,563)	2,315,530	587,006	11,678,941	17,382,014	(57,945)	3,203,580	31,836,353	(8,498,822)	(627,865)	293,394	2,317,827	7,078,416	(6,336,313)	48,293,553
Interest income	6,059	142,181	200,827	131,341	98,485	2	1,918	1,221,974	2,175	26,594	37	6,992	342,602	2,598,127	4,779,314
Interest expense	(12,434,185)	(7,249,071)	—	(18,543,629)	—	—	—	(5,347,808)	(28,825,082)	—	—	—	—	(104,540,543)	(176,940,318)
Net realized gain on short-term investments	—	—	—	—	—	—	—	—	—	—	—	—	14,325	(7,640,422)	(7,626,097)
Share of (loss) /gain in an equity investee	(7,847,367)	—	3,370,027	—	—	—	—	—	—	(12,199,505)	—	—	(114,651)	(1,122,574)	(17,914,070)
Gain on extinguishment of debt	—	—	—	—	—	—	—	—	—	—	—	—	—	169,932,886	169,932,886
Gain on modification of debt	—	—	—	26,372,965	—	—	—	—	—	—	—	—	—	—	26,372,965
Exchange gains	9,426,923	—	—	—	—	—	—	—	—	—	—	—	170,555	3,884,579	13,482,057
Other income/(expense)	3,670,566	2,845,027	4,937,780	(227,508)	30,951	(4,453)	(2,898)	(84,792)	13,595,467	129,168	8,686	(194,969)	261,501	462,346	25,426,872
Income/(loss) before income taxes	(20,056,567)	(1,946,333)	9,095,640	19,412,110	17,511,450	(62,396)	3,202,600	27,625,727	(23,726,262)	(12,671,608)	302,117	2,129,850	7,752,748	57,238,086	85,807,162
Income tax benefit/(expense)	14,814,458	792,277	(12,047,878)	(17,481,633)	(22,171,296)	3,275	(4,364,673)	(7,872,323)	(741,067)	(1,508,575)	(1,256,109)	(1,353,719)	677,821	(2,766,009)	(55,275,451)
Net income/(loss)	(5,242,109)	(1,154,056)	(2,952,238)	1,930,477	(4,659,846)	(59,121)	(1,162,073)	19,753,404	(24,467,329)	(14,180,183)	(953,992)	776,131	8,430,569	54,472,077	30,531,711
Depreciation and amortization	4,136,037	274,482	603,524	598,078	2,050,750	—	—	1,755,174	11,639,957	—	9,356	5,090	326,968	1,107,229	22,506,645
Capital expenditure	3,353	627	—	—	1,825	—	—	—	(12)	—	—	—	367,144	—	372,937
Real estate properties completed and under development	1,207,782,937	394,558,791	102,589,027	503,780,381	65,449,973	—	11,872,490	53,897,457	280,032,599	411,898,623	196,266,519	64,815,058	—	15,021,114	3,307,964,969
Real estate properties held for lease	45,427,310	(6,129,675)	29,843,420	31,649,101	4,749,926	—	47,061,528	83,770,504	85,979,680	—	—	—	—	200,207	322,552,001

Total long-lived assets	286,787,108	15,081,225	137,469,838	53,134,953	25,002,494	5,732,976	67,126,463	94,644,226	97,134,292	22,391,243	368,241	849,197	7,516,719	26,942,231	840,181,206
Total assets	2,089,109,648	201,589,676	513,329,822	600,165,262	223,190,269	11,064,860	81,359,058	240,848,887	391,317,225	488,477,145	201,937,156	72,172,008	148,503,161	70,329,054	5,333,393,231

Non-controlling interests

12 Months Ended

Dec. 31, 2023

Non-controlling interests

Non-controlling interests

23. Non-controlling interests

As of December 31, 2022, the non-controlling interests consisted of the following:


			December 31,
	Ownership		2022
			US$
Shaanxi Zhongmao Economy Development Co., Ltd.	34.02	%	—
Xinyuan Property Management Service (Cayman) Ltd.	40.53	%	(78,177,157)
Taicang Pengchi Real Estate Co., Limited. (Note 18 (a))	83.00	%	(33,861,921)
Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd. (Note 18 (a.b))	80.00	%	(36,302,338)
Henan Renxin Real Estate Co., Ltd.	49.00	%	—
Suzhou Yefang Real Estate Co., Limited. (Note 18(a.b))	79.99	%	(11,482,112)
Zhengzhou Xinhe Real Estate Co., Ltd	20.00	%	1,650,839
Others			5,498,759

Total			(152,673,930)

As of December 31, 2023, the non-controlling interests consisted of the following:


			December 31,
	Ownership		2023
			US$
Shaanxi Zhongmao Economy Development Co., Ltd.	34.02	%	—
Xinyuan Property Management Service (Cayman) Ltd.	40.53	%	(77,892,291)
Taicang Pengchi Real Estate Co., Limited. (Note 18 (a))	83.00	%	(33,373,465)
Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd. (Note 18 (a.b))	80.00	%	(27,244,465)
Henan Renxin Real Estate Co., Ltd.	49.00	%	—
Suzhou Yefang Real Estate Co., Limited. (Note 18(a.b))	79.99	%	(11,290,614)
Zhengzhou Xinhe Real Estate Co., Ltd	20.00	%	2,792,991
Others			5,866,648

Total			(141,141,196)

Share-based compensation - Share Option Activity 2007 Plan and 2015 Long Term Incentive Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Aggregate Intrinsic Value
Recognized share-based compensation expense	$ 0	$ 0	$ 1,788,297
2007 Plan [Member]
Number of Options
Granted	0	0
Aggregate Intrinsic Value
Total fair value of options vested	$ 0	$ 0	0
Common stock, closing share price	$ 0.20
Unrecognized compensation cost related to non-vested share-based compensation	$ 0
2007 Plan [Member] \| 1.21 (exercise price) [Member]
Number of Options
Outstanding		39,400
Outstanding and Exercisable, December 31, 2023	39,400
Weighted Average Exercise Price
Outstanding		$ 1.21
Outstanding and Exercisable, December 31, 2023	$ 1.21
Weighted Remaining Contractual Life (Years)
Outstanding		1 year 6 months
Outstanding and Exercisable, December 31, 2023	6 months
Aggregate Intrinsic Value
Outstanding		$ 0
Outstanding and Exercisable, December 31, 2023	$ 0
2015 Plan [Member]
Number of Options
Granted	0	0
Exercised		0
Aggregate Intrinsic Value
Exercised		$ 0
Total fair value of options vested	$ 0	$ 0	$ 0
Common stock, closing share price	$ 0.20
Unrecognized compensation cost related to non-vested share-based compensation	$ 0
2015 Plan [Member] \| 1.71 (exercise price) [Member]
Number of Options
Outstanding		2,796,734
Forfeited	81,600
Outstanding and Exercisable, December 31, 2023	2,715,134
Weighted Average Exercise Price
Outstanding		$ 1.71
Forfeited	$ 1.71
Outstanding and Exercisable, December 31, 2023	$ 1.71
Weighted Remaining Contractual Life (Years)
Outstanding		2 years 6 months
Outstanding and Exercisable, December 31, 2023	0 years
Aggregate Intrinsic Value
Outstanding		$ 0
Forfeited	$ 0
Outstanding and Exercisable, December 31, 2023	$ 0

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2023

Summary of significant accounting policies

Summary of significant accounting policies

2. Summary of significant accounting policies

(a) The Company and basis of presentation and consolidation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The consolidated financial statements include the financial statements of the Company, its subsidiaries, VIEs, and the subsidiaries of VIEs. All inter-company transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.

Subsidiaries are consolidated from the date on which control is transferred to the Group and cease to be consolidated from the date on which control is transferred out of the Group. Where there is a loss of control of a subsidiary, the consolidated financial statements include the results for the part of the reporting year during which the Group has control.

Ruihao Rongtong

Ruihao Rongtong, with a registered capital of US$37.6 million (RMB250.0 million), was invested in by the Company on May 6, 2015, for the purpose of undertaking a residential property development project in Beijing. On March 1, 2016, June 28, 2016 and September 18, 2016, an unrelated trustee company, Ping An trust Co., Ltd. (“Ping An trust”) purchased 20%, 5% and 10% of the Company’s equity interest in Ruihao Rongtong, respectively, and loaned US$124.3 million (RMB862.5 million) in aggregate to the Group. On February 28, 2017, the Company repurchased the 35% equity interest of Ruihao Rongtong from Ping An trust. On May 23, 2017, Ping An trust subsequently repurchased back 35% of the Company’s equity interest in Ruihao Rongtong, and loaned US$246.8 million (RMB1.61 billion) in aggregate to the Group. As of December 31, 2018, Ruihao Rongtong had one project under construction. Pursuant to the share purchase agreement, the 35% of non-controlling equity interest of Ruihao Rongtong was to be repurchased by the Company in cash at the earlier of the second anniversary date, or the date the Company elected to repurchase the 35% equity interest of Ruihao Rongtong. Therefore, the non-controlling interest is mandatorily redeemable and is accounted for as liability in accordance with ASC 480, Distinguishing Liabilities from Equity (“ASC 480”). On June 21, 2019, the Company repurchased the 35% equity interest of Ruihao Rongtao from Ping An trust and Ruihao Rongtong ceased to be variable interest entity(“VIE”).

In accordance with ASC 810, Consolidation (“ASC 810”), before June 21, 2019, Ruihao Rongtong was a variable interest entity as it was not established with sufficient equity at risk to finance its activities without additional subordinated financial support. The Company is considered as the primary beneficiary of Ruihao Rongtong, as it has the power to direct the activities of Ruihao Rongtong that most significantly impact their economic performance and has the obligation to absorb the losses and the right to receive benefits from Ruihao Rongtong through its voting interest underlying its 65% equity interest in accordance with PRC Law and the articles of association of Ruihao Rongtong. Based on the above, Ruihao Rongtong was consolidated by the Company.

Yuzhouyun

On March 2, 2018, the Group signed a partnership agreement with certain senior management members to form Yuzhouyun. According to the partnership agreement, the design and purpose of Yuzhouyun’s activities are to provide technical services to the Group. The Group acts as a limited partner and the senior management members are general partners. Substantially all significant activities require the approval from the senior management members. The Group and senior management members agreed to share profits at the proportion of 51% and 49%, respectively. The Group, as the limited partner, is the only party with the equity at risk to absorb losses of Yuzhouyun. Yuzhouyun’s principal activities are also to provide technical service to the Group, which indicates that Yuzhouyun’s activities are conducted on behalf of the Group. Therefore, under ASC 810, Yuzhouyun is a variable interest entity. In addition, as the senior management members are the Group’s employees, which represent a principal-agency relationship, therefore, the Group is concluded to be “most closely associated” with Yuzhouyun. Based on the above, the Group is the primary beneficiary because it has the power to direct the activities of Yuzhouyun that most significantly impact their economic performance and has the obligation to absorb the losses and the right to receive benefits from Yuzhouyun.

The carrying amounts and classifications of the assets and liabilities of Yuzhouyun were as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Current assets	174,470	(10,484)
Non-current assets	2,873,855	2,922,037
Total assets	3,048,325	2,911,553

Current liabilities	17,699,203	21,353,225
Non-current liabilities	10,337,995	6,847,671
Total liabilities	28,037,198	28,200,896

The financial performance and cash flows of Yuzhouyun were as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Revenue	244,130	10,731
Cost of revenue	(2,534,745)	(947,551)
Net loss	(2,539,202)	(721,263)
Net cash provided by operating activities	2,671,405	3,140,065
Net cash used in investing activities	—	—
Net cash used in financing activities	(2,700,960)	(3,124,002)

As of December 31, 2022 and 2023, the current liabilities of Yuzhouyun included amounts due to subsidiaries of the Group amounting to US$14,851,499 and US$18,643,004, which were eliminated upon consolidation by the Company.

During the years ended December 31, 2022 and 2023, the revenue of Yuzhouyun included amounts that came from the Group amounting to US$nil and US$nil, which were eliminated upon consolidation by the Company.

Yuzhouyun contributed US$244,130 and US$10,731 of the Company’s consolidated revenue for the years ended December 31, 2022 and 2023, respectively.

Ruizhuo Xihui

In 2020, Ruizhuo Xichuang, a subsidiary of the Group, together with Ruizhuo Xihui and its registered shareholders, entered a new set of Contractual Arrangements, including the powers of attorney, the exclusive business cooperation agreement, the exclusive share purchase agreement, the equity pledge agreement, the confirmations from such Registered Shareholders and the spouse undertakings (collectively known as the “Ruizhuo Xihui VIE Agreements”). The terms of the Ruizhuo Xihui VIE Agreements indicate that the Group is the only party at risk to absorb losses of Ruizhuo Xihui. Ruizhuo Xihui’s principal activities are also to provide technical service to the Group, which indicates that Ruizhuo Xihui’s activities are conducted on behalf of the Group. In accordance with ASC 810, Ruizhuo Xihui is a variable interest entity. Based on the above, the Group is the primary beneficiary because it has the power to direct the activities of Ruizhuo Xihui that most significantly impact its economic performance and has the obligation to absorb the losses and the right to receive benefits from Ruizhuo Xihui.

The carrying amounts and classifications of the assets and liabilities of Ruizhuo Xihui were as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Current assets	2,621,527	2,566,273
Non-current assets	(10,806)	(10,626)
Total assets	2,610,721	2,555,647

Current liabilities	2,619,769	2,533,801
Total liabilities	2,619,769	2,533,801

The financial performance and cash flows of Ruizhuo Xihui were as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Revenue	235,890	—
Cost of revenue	(64,034)	—
Net income	31,287	30,919
Net cash used in operating activities	(13,900)	(24)
Net cash used in investing activities	—	—
Net cash used in financing activities	—	—

As of December 31, 2022 and 2023, the current liabilities of Ruizhuo Xihui included amounts due to subsidiaries of the Group amounting to US$nil and US$nil, respectively, the current assets of Ruizhuo Xihui included amounts due from subsidiaries of the Group of US$2,511,562 and US$2,476,119, which were eliminated upon consolidation by the Company.

Ruizhuo Xihui contributed US$235,890 and US$nil of the Company’s consolidated revenue for the years ended December 31, 2022 and 2023, respectively.

(b) Going concern

As of December 31, 2023, the Group’s short-term bank loans and other debt, and current portion of long-term bank loans and other debt amounted to US$1,329.1 million.

As announced in the Form 6-K dated July 19, 2022, the Company did not made payments in full for its senior notes of RMB545.3 million (“defaulted senior notes”) issued on July 3 and August 6, 2020 with a maturity date on June 29, 2022. The Default also triggered cross-default of other senior notes issued by the Group. On August 18, 2023, eligible holders of the defaulted senior notes in the aggregate principal amount of US$307.36 million exchanged their notes and the Company delivered the September 2027 Senior Secured Notes in the aggregate principal amount of US$331.3 million due on September 30, 2027 and US$1.54 million in cash consideration in full satisfaction of the exchange consideration to those eligible holders. The carrying amount of senior notes still in default was US$393.0 million as at December 31, 2023.

The Group also breached certain covenants relating to bank and other borrowings of US$614.0 million as at December 31, 2023. Other than that, up to the date of approval of these consolidated financial statements, the Group continues to be in breach of certain covenants and other lenders have not demanded for immediate repayment of other bank and other borrowings.

In addition, the Group is involved in other various litigation and arbitration cases for various reasons and the contingent compensation is subject to the court verdict. The Company anticipates that the market conditions in the real estate sector remain under pressure in 2024, and therefore, in the absence of a sharp recovery in the market and the availability of various financing options, the Company remains cautious about its liquidity in the near term. The above events or conditions indicate the existence of material uncertainty which cast substantial doubt on the Group’s ability to continue as a going concern.

In view of such circumstances, the directors consider that the Group has taken various measures and will have adequate funds available to enable it to operate as a going concern, taking into account the past operating performance of the Group and the following:

(a)

The Group has been in negotiation with the noteholder to reach agreement on a further debt restructuring plan.

(b)

In 2023, the Group reached an agreement with corporate bondholders of RMB corporate bonds with carrying amount of RMB273.8 million as at December 31, 2023. Pursuant to the agreement, the repayment date of the corporate bond was extended to November 13, 2025 and January 7, 2026;

(c)Up to the date of approval of the consolidated financial statements, the Group successfully extended the maturity date of long-term loans of the aggregate principal amount of US$67.6 million to no earlier than May 2025, alleviating the pressure on liquidity within a reasonable timeframe;

(d)

The Group is actively in discussions with the other existing lenders to renew the Group’s certain borrowings and/or not to demand immediate repayment until the Group has successfully completed the property construction projects and generated sufficient cash flows therefrom. These discussions have been constructive and focused on possible actions in light of current circumstances but do require time to formulate or implement due to ongoing changes in market conditions;

(e)

The Group will continue to implement measures to accelerate the pre-sales and sales of its properties under development and completed properties, and to speed up the collection of outstanding sales proceeds and other receivables. Recent relaxation of policies with regards to the property market in the PRC have been encouraging to increase buyer interests and stimulate demand. Subject to the improvement of the market sentiment, the Group will actively adjust sales and pre-sale activities to better respond to changing markets to achieve the latest budgeted sales and pre-sales volumes and amounts;

(f)

The Group will continue to control administrative costs and contain unnecessary capital expenditures to preserve liquidity. The Group will also continue to actively assess additional measures to further reduce discretionary spending; and

(g)

The Group has been proactive in seeking ways to settle the outstanding litigations of the Group. The Group will seek to reach an amicable solution on the charges and payment terms to the claims and litigations which have not yet reached a definite outcome.

In the event forecast cash flow is not achieved or the renewal of borrowings and public senior notes does not undergo as planned, the directors of the Company have also evaluated other plans that could be undertaken to improve their liquidity position as follow:

The Group could adjust their original sale plan for some residential properties and commercial buildings to an earlier stage in order to generate additional funds; and

2)The Group will continue to seek to obtain additional new sources of financing from potential equity investment partners or to seek suitable opportunities to dispose of its equity interest in certain project development companies to generate additional cash inflows. The Group’s properties are predominantly located in higher tier cities that make them relatively more attractive to potential buyers and retain a higher value in current market conditions.

Notwithstanding the above, uncertainty exists as to whether the renewal of borrowings and public senior notes can be renewed and as to all other alternative operating and financing plans as the Group is still negotiating with its external financiers on the financing to the Group and the sales of properties depend on market conditions. Should the Group be unable to operate as a going concern, adjustments would have to be made to reduce the carrying values of the Group’s assets to their recoverable amounts, to provide for financial liabilities which might arise, and to reclassify non-current assets and non-current liabilities as current assets and current liabilities respectively, if applicable. The effects of these adjustments have not been reflected in the consolidated financial statements.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes, and disclosure of contingent liabilities at the date of the consolidated financial statements. Estimates are used for, but not limited to, the selection of the useful lives of property and equipment and finance lease, allowance for estimating the allowance for credit losses associated with accounts receivables, other receivables, contract assets, short-term investments and advances to suppliers, fair values of the purchase price allocation with respect to business combinations, progress towards the completion of the performance obligation, accounting for the share-based compensation, accounting for deferred income taxes, impairment of goodwill, impairment of real estate properties under development, real estate properties held for lease and long-term investments, provision necessary for contingent liabilities and estimating the incremental borrowing rate for operating lease liabilities. Management analyzed the forecasted cash flows for the 12 months from May 15, 2024, which indicates that the Group will have sufficient liquidity from cash flows generated by operations and existing credit facilities and therefore, there will be sufficient financial resources to settle borrowings and payables that will be due through end of May 2025. Management believes that the estimates utilized in preparing its consolidated financial statements are reasonable and prudent. Actual results could differ from these estimates.

(d) Fair value of financial instruments

Financial instruments include cash and cash equivalents, restricted cash, short-term investments, accounts receivable, other deposits and prepayments, due from employees, due from related parties, other receivables, long-term investments, accounts payable, customer deposits, other payables and accrued liabilities, short-term bank borrowings, long-term borrowings and due to related parties. The carrying amounts of the aforementioned financial instruments, except for short-term investments for which the measurement alternative was elected, long-term investments and long-term borrowings, approximate their fair value due to the short-term maturities of these instruments. The carrying amounts of the long-term borrowings approximate their fair values because the stated interest rates approximate rates currently offered by financial institutions for similar debt instruments of comparable credit risk and maturities. Long-term investments have no quoted market prices and it is not practicable to estimate their fair value without incurring excessive costs. The Group reviews the investments for impairment whenever events or changes in circumstances indicate that the carrying amount may no longer be recoverable.

For long-term investments other than those accounted for under the equity method or those that result in consolidation of the investee, the Company measures equity investments at fair value and recognizes any changes in fair value in net income. However, for equity investments that do not have readily determinable fair values and do not qualify for the existing practical expedient in ASC 820, Fair Value Measurement (“ASC 820”), to estimate fair value using the net asset value per share (or its equivalent) of the investment, the Company chose to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. At each reporting date, the Company is required to make a qualitative assessment as to whether equity investments without a readily determinable fair value for which the measurement alternative is elected is impaired. In the event that a qualitative assessment indicates that the investment is impaired and the fair value of the investment is less than the carrying value, the carrying value is written down to its fair value. A variety of factors are considered when determining if a decline in fair value is below carrying value, including, among others, the financial condition and prospects of the investee.

Accounting guidance defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

Accounting guidance establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Accounting guidance establishes three levels of inputs that may be used to measure fair value:

Level 1-Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets

Level 2-Includes other inputs that are directly or indirectly observable in the market place

Level 3-Unobservable inputs which are supported by little or no market activity

ASC 820 describes three main approaches for measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

In accordance with ASC 820, investment in marketable equity securities and investment in real estate investment trusts (“REITs”) are classified as Level 1 as the Company measures the fair value using quoted trading prices that are published on a regular basis, and investment in equity securities in unlisted companies is categorized as Level 3 measured at fair value using alternative method, less any impairment, plus or minus changes resulting from observable price in orderly transactions.

(e) Foreign currency translation

The Group’s financial information is presented in U.S. dollars. The functional currency of the Company is U.S. dollars. The functional currency of the Company’s subsidiaries in the PRC is Renminbi (“RMB”), the currency of the PRC. The functional currency of the Company’s subsidiaries in Malaysia is Malaysian Ringgit (“MYR”), the currency of Malaysia. The functional currency of the Company’s subsidiaries other than those in the PRC and Malaysia is U.S. dollars. Transactions by the Company’s subsidiaries in the PRC which are denominated in currencies other than RMB are remeasured into RMB at the exchange rate quoted by the People’s Bank of China (“PBOC”) prevailing at the dates of the transactions. Exchange gains and losses resulting from transactions denominated in a currency other than RMB are included in the consolidated statements of comprehensive income as exchange gains (losses). The consolidated financial statements of the Company’s subsidiaries have been translated into U.S. dollars in accordance with ASC 830, Foreign Currency Matters (“ASC 830”). PRC subsidiaries’ financial information is first prepared in RMB and then is translated into U.S. dollars at period-end exchange rates as to assets and liabilities and average exchange rates as to revenue and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

The RMB is not freely convertible into foreign currency and all foreign exchange transactions must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at the rates used in translation.

(f) Cash and cash equivalents

The Group considers all highly liquid investments with original maturities of three months or less to be cash equivalents. The Group maintains bank accounts mainly in the PRC, Hong Kong and the United States. The vast majority of PRC bank balances are denominated in RMB. Hong Kong and United States bank balances are denominated in U.S. dollars.

Cash includes cash on hand and demand deposits in accounts maintained with various state-owned and private banks within the PRC, Hong Kong and the United States. Total cash in banks (excluding restricted cash) at December 31, 2023 amounted to US$129,243,923 (December 31, 2022: US$283,131,542), of which the vast majority of deposits were not covered by insurance.

(g) Restricted cash

The Group is required to maintain certain deposits with banks that provide mortgage loans to the Group’s customers in order to purchase residential units from the Group. These balances are subject to withdrawal restrictions and totaled US$5,221,094 as of December 31, 2023 (December 31, 2022: US$8,311,763). As of December 31, 2023, the Group held US$96,356,223 (December 31, 2022: US$269,285,004) in its restricted cash accounts, representing funds received from sales proceeds that are subject to withdrawal restrictions. The Group is also required to maintain certain deposits with banks and financial institutions that provide loans to the Group. As of December 31, 2023, the Group also held US$nil in its restricted cash accounts (December 31, 2022: US$nil) as security for its short-term loans (Note 10).

As of December 31, 2023, the Group held US$nil (December 31, 2022: US$nil) in its bank accounts with withdrawal restriction for its long-term loans (Note 11).

(h) Real estate properties development completed and under development

Real estate properties completed and under development consist of residential unit sites and commercial offices. The Group leases the land for the residential unit sites under land use right leases with various terms from PRC government. Real estate properties development completed and under development are stated at the lower of carrying amounts or fair value less selling costs.

Expenditures for land development, including cost of land use rights, deed tax, pre-development costs and engineering costs, are capitalized and allocated to development projects by the specific identification method. Costs are allocated to specific units within a project based on the ratio of the sales value of units to the estimated total sales value times the total project costs.

Costs of amenities transferred to buyers are allocated as common costs of the project that are allocated to specific units as a component of total construction costs. For amenities retained by the Group, costs in excess of the related fair value of the amenities are also treated as common costs. Results of operations of amenities retained by the Group are included in the current operating results.

In accordance with ASC 360, Property, Plant and Equipment (“ASC 360”), real estate property development completed and under development are subject to valuation adjustments when the carrying amount exceeds fair value. An impairment loss is recognized only if the carrying amount of the assets is not recoverable and exceeds fair value. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to be generated by the assets.

When the profitability of a current project deteriorates due to a slowdown in the sales pace, reduction of pricing or some other factor, this indicates that there may be a possible future loss on delivery and possible impairment in the recoverability of the assets. Accordingly, the assets of such project are subsequently reviewed for future losses and impairment by comparing the estimated future undiscounted cash flows for the project to the carrying value of such project. If the estimated future undiscounted cash flows are less than the asset’s carrying value, such deficit will be charged as a future loss and the asset will then be written down to its estimated fair value.

The Group determines estimated fair value primarily by discounting the estimated future cash flows relating to the asset. In estimating the cash flows for a project, the Group uses various factors including (a) the expected pace at which the planned number of units will be sold, based on competitive market conditions, historical trends in sales pace and actual average selling prices of similar product offerings and any other long or short-term economic conditions which may impact the market in which the project is located; (b) the estimated net sales prices expected to be attained based on the current market conditions and historical price trends, as well as any estimated increases in future sales prices based upon the projected rate of unit sales, the estimated time gap between presale and expected delivery, the impact of government policies, the local and regional competitive environment, and certain external factors such as the opening of a subway line, school or factory; and (c) the expected costs to be incurred in the future by the Group, including, but not limited to, construction cost, construction overhead, sales and marketing, sales taxes and interest costs.

The Group’s determination of fair value requires discounting the estimated cash flows at a rate commensurate with the inherent risk associated with the assets and related estimated cash flows. The discount rate used in determining each project’s fair value depends on the stage of development, location and other specific factors that increase or decrease the risk associated with the estimated cash flows.

For the year ended December 31, 2023, the Group recognized impairment loss of US$21,544,902 for real estate properties completed and under development (2021: US$1,347,050; 2022: US$2,932,743).

(i) Revenue recognition

Revenue is recognized when control of the goods or services is transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. The Group also elected to exclude sales taxes and other similar taxes from the measurement of the transaction price. Therefore, revenue is recognized net of business tax and value added taxes (“VAT”).

Real estate sales

Revenue arising from real estate sales is recognized when or as the control of the asset is transferred to the customer. Depending on the terms of the contract and the laws that apply to the contract, control of the asset may transfer over time or at a point in time.

For real estate sales contracts for which the Group has an enforceable right to payment for performance completed to date, revenue is recognized over time by measuring the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains the physical possession, the legal title, or the significant risks and rewards of ownership of the assets and the Group has a present right to a payment and the collection of the consideration is probable. The progress towards complete satisfaction of the performance obligation is measured based on the Group’s efforts or inputs to the satisfaction of the performance obligation, by reference to the contract costs incurred up to the end of reporting period as a percentage of total estimated costs for each contract.

Generally, the Group receives short-term advances from its customers for real estate sales. Using the practical expedient, the Group does not adjust the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between the transfer of the promised good or service to the customer and when the customer pays for that good or service will be one year or less. The Group also receives long-term advances from customers for real estate sales. The transaction price for such contracts is adjusted for the effects of a financing component, if long-term advances from customers are assessed as significant at the individual contract level.

Real estate management services income

Real estate management services income is recognized in the accounting period in which the services are rendered. The Group bills a fixed amount periodically for services provided and recognizes as revenue the amount to which the Group has a right to invoice that corresponds directly with the value of performance completed.

Real estate lease income

Real estate lease income is generally recognized on a straight-line basis over the terms of the tenancy agreements. For real estate leases, these contracts are treated as leases for accounting purposes, rather than contracts with customers subject to ASC 606, Revenue from Contracts with Customers.

Other revenue

Other revenue includes services ancillary to the Group’s real estate projects, including construction service revenue and software consulting service income. Construction service revenue and software consulting service income are recognized when services are provided as the customer simultaneously benefits from the services as they are performed.

Contract assets

The Group pays sales commission to its real estate sales agencies for each real estate sales contract. The Group has elected to apply the optional practical expedient for costs to obtain a contract which allows the Group to immediately expense sales commissions (included under selling and distribution expenses) when the amortization period of the asset that the Group otherwise would have used is one year or less. For incremental costs of obtaining real estate sales contracts that extend beyond a one-year period, the Group has no current contract assets as not expected to realize within one year, these incremental costs of obtaining real estate sales contracts are recognized as assets if the real estate sales are collectible and amortized as the Group transfers the control of the assets to customers. The Group recognized US$9.8 million and US$4.1 million of such costs in selling and distribution expense during the years ended December 31, 2022 and 2023, respectively. As of December 31, 2022 and 2023, there was no impairment losses on contract assets.

Contract liabilities

A contract liability is the obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers goods or services to the customer, a contract liability is recognized when the payment is made or the payment is due (whichever is earlier). The Group’s contract liabilities are comprised of customer deposits, which are recognized as revenue when the Group performs under the contract.

The following table presents the Group’s contract balances as of December 31, 2022 and 2023:


	December 31,	December 31,
	2022	2023
Contract assets	52,515,766	34,255,318
Customer deposits (Note 14)	1,280,517,005	740,013,355

The Group has not disclosed the movement of contract assets as it is not material.

(j) Accounts receivable and allowance for credit losses

Accounts receivable represents the Group’s right to an amount of consideration that is unconditional (i.e. only the passage of time is required before payment of the consideration is due). The Group’s accounts receivable consists of balances due from customers for the sale of residential units in the PRC and United States and real estate management service contracts. These balances are unsecured, bear no interest and are due within a year from the date of the sale.

The allowance for credit losses reflects the Company’s current estimate of credit losses expected to be incurred over the life of the receivables. The Company considers various factors in establishing, monitoring, and adjusting its allowance for credit losses including the aging of receivables and aging trends, customer creditworthiness and specific exposures related to particular customers. The Company also monitors other risk factors and forward-looking information, such as country specific risks and economic factors that may affect a customer’s ability to pay in establishing and adjusting its allowance for credit losses. Accounts receivable are written off after all collection efforts have ceased. As of December 31, 2023, there was US$6,803,575 (December 31, 2022: US$5,103,017) allowance for credit loss. The Group has not disclosed the movement of allowance for credit loss as it is not material.

(k) Other receivables

Other receivables consist of various cash advances to unrelated companies and individuals with which the Group has business relationships.

The allowance for credit losses reflects the Company’s current estimate of credit losses expected to be incurred over the life of the receivables. The Company considers various factors in establishing, monitoring, and adjusting its allowance for credit losses including the aging of receivables and aging trends, customer creditworthiness and specific exposures related to particular customers. The Company also monitors other risk factors and forward-looking information, such as country specific risks and economic factors that may affect a customer’s ability to pay in establishing and adjusting its allowance for credit losses. As of December 31, 2023, there was US$14,245,346 (December 31, 2022: US$14,137,430) allowance for credit loss.

(l) Deposits for land use rights

Deposits for land use rights consist of upfront cash payments made to local land bureaus to secure land use rights under executed short-term or long-term land framework cooperation agreements or land use rights agreements.

Deposits for land use rights are reviewed periodically as to whether their carrying value has become impaired. The Group considers the assets to be impaired if the collectability of the balances become doubtful. There were no impairment losses for any periods presented.

(m) Other deposits and prepayments

Other deposits and prepayments mainly consist of upfront cash payments made to third parties related to the direct negotiation model in acquiring land parcels and prepaid tax.

The allowance for credit losses reflects the Company’s current estimate of credit losses expected to be incurred over the life of other deposits. The Company considers various factors in establishing, monitoring, and adjusting its allowance for credit losses including the aging of other deposits and aging trends, customer creditworthiness and specific exposures related to particular customers. The Company also monitors other risk factors and forward-looking information, such as country specific risks and economic factors that may affect a customer’s ability to pay in establishing and adjusting its allowance for credit losses. As of December 31, 2023, there was US$1,112,484 (December 31, 2022: US$1,908,929) allowance for credit loss.

(n) Advances to suppliers

Advances to suppliers consist of balances paid to contractors and vendors for services and materials that have not been provided or received and generally relate to the development and construction of residential units in the PRC. Advances to suppliers are reviewed periodically to determine whether their carrying value has become impaired. The Group considers the assets to be impaired if it is doubtful that the services and materials can be provided. As of December 31, 2022 and 2023, there was no allowance provided.

(o) Customer deposits

Customer deposits consist of sales proceeds received from customers from the sale of residential units in the PRC. In the PRC, customers will generally obtain financing for the purchase of their residential unit prior to the completion of the project. The lending institution will provide the funding to the Group upon the completion of the financing rather than the completion of the project. The Group receives these funds and recognizes them as a customer deposit current liability until the revenue can be recognized.

(p) Notes payable and other payables

Notes payable represents short-term bank and commercial acceptance notes issued by financial institutions that entitle the holder to receive the stated amount from the financial institutions at the maturity date of the notes. The Group has utilized notes payable to settle amounts owed to suppliers and contractors. The notes payable is non-interest bearing and is normally settled within six months. Notes payable was US$87,127,684 and US$70,193,272 as of December 31, 2022 and 2023, respectively.

Other payables consist of balances for non-construction costs with unrelated companies and individuals with which the Group has business relationships.

(q) Real estate properties held for lease, net

Real estate properties held for lease are recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives of the real estate properties held for lease are 20-60 years.

Maintenance, repairs and minor renewals are charged directly to expenses as incurred. Major additions and improvements to the real estate properties held for lease are capitalized.

In accordance with ASC 360, real estate properties held for lease is subject to valuation adjustments when the carrying amount exceeds fair value. An impairment loss is recognized only if the carrying amount of the assets is not recoverable and exceeds fair value. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to be generated by the assets.

For the periods presented, the Group did not recognize any impairment for real estate properties held for lease.

(r) Property and equipment, net

Property and equipment are recorded at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives of the assets are as follows:


Corporate aircraft		15 years
Vehicles		5 years
Furniture and fixtures		5 years
Office buildings		20‑60 years

Maintenance, repairs and minor renewals are charged directly to expense as incurred unless such expenditures extend the useful life or represent a betterment, in which case they are capitalized.

(s) Long-term Investments

The Group’s long-term investments consist of equity method investments and equity investments without readily determinable fair value.

Equity method Investments

Where the Group has significant influence over the investee, the Group applies the equity method of accounting in accordance with ASC 323, Investments-Equity Method and Joint Ventures (“ASC 323”). The reporting dates and accounting policies of the equity investee are the same as the Group. The investment in the equity investee is stated at cost, including the Group’s share of the equity investee’s net gain or loss, less any impairment in value. The Group recognizes in its consolidated statement of comprehensive income its share of the net income (loss) of the equity investees. The Company periodically evaluates whether declines in fair values of our investments indicate impairment and whether declines in fair value of our investments below their book value are other-than-temporary.

Nonmarketable equity securities

Nonmarketable equity securities are investments in privately held companies without readily determinable market values.

On January 1, 2018, the Group adopted ASU 2016-01, pursuant to which, for equity investments without readily determinable fair value, the Group elected to use the measurement alternative to measure those investments at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer, if any. All gains and losses on nonmarketable equity securities, realized and unrealized, are recognized in earnings. The Group performs a qualitative assessment of whether the investment is impaired at each reporting date. If a qualitative assessment indicates that the investment is impaired, the Group has to estimate the investment’s fair value in accordance with the principles of ASC 820. If the fair value is less than the investment’s carrying value, the Group recognizes an impairment loss in net income equal to the difference between the carrying value and fair value.

(t) Capitalized interest

The Group capitalizes interest as a component of building construction costs in accordance with ASC 835, Interest (“ASC 835”).

As a result of the total interest costs capitalized during the period, the interest expense for the years ended December 31, 2021, 2022 and 2023 was as follows:


	2021	2022	2023
	US$	US$	US$
Amortization of issuance cost related to long-term debt	7,641,101	9,311,710	6,722,387
Interest expense of finance leases	64,549	69,672	—
Interest on borrowings	310,767,482	237,293,974	237,307,045
Total interest costs	318,473,132	246,675,356	244,029,432
Total interest costs capitalized	(135,074,360)	(88,666,945)	(67,089,115)
Interest expense, net	183,398,772	158,008,411	176,940,317

(u) Retirement benefits

Regulations in the PRC require the Group to contribute to a defined contribution retirement plan for all permanent employees. Pursuant to the mandatory requirement from the local authority in the PRC, the retirement pension insurance, unemployment insurance, health insurance and housing fund were established for the employees during the term they are employed. For the years ended December 31, 2021, 2022 and 2023, the Group is obligated to contribute for each employee an amount equal to 39%, 32% and 32%, respectively, of last year’s average salary determined by the Social Welfare Bureau. For the year ended December 31, 2023, the Group recorded expenses in the amount of US$10,035,173 (2021: US$20,710,982; 2022: US$14,643,127).

(v) Distribution of earnings and reserve fund

The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions from its subsidiaries. The earnings reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries. In accordance with PRC Company Law, PRC subsidiaries are required to transfer 10% of their profit after tax, as determined in accordance with PRC accounting standards and regulations, to the statutory surplus reserve (the “SSR”) until such reserve reaches 50% of the registered capital of the subsidiaries. Subject to certain restrictions set out in PRC Company Law, the SSR may be distributed to stockholders in the form of share bonus issued to increase share capital, provided that the remaining balance after the capitalization is not less than 25% of the registered capital before capital increase.

(w) Income taxes

The Group accounts for income tax using the balance sheet method. Deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as unutilized net operating losses. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Group is able to realize their benefits, or that future utilization is uncertain. The Group assesses its need for valuation allowances by tax reporting unit by jurisdiction.

Late payment interests and penalties arising from underpayment of income taxes are recognized according to the relevant tax law. The amount of interest expense to be recognized is computed by applying the applicable statutory rate of interest to the difference between the tax position recognized and the amount previously taken or expected to be taken in a tax return. Interest recognized in accordance with ASC 740, Income Tax (“ASC 740”) is classified in the consolidated financial statements as interest expense, while penalties recognized in accordance with this interpretation are classified in the consolidated financial statements as other expenses.

In accordance with the provisions of ASC 740, the Group recognizes in its consolidated financial statements the impact of a tax position if a tax return’s position or future tax position is “more likely than not” to prevail (defined as a likelihood of more than fifty percent of being sustained upon audit, based on the technical merits of the tax position). Tax positions that meet the “more likely than not” threshold are measured (using a probability weighted approach) at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Group’s estimated liability for unrecognized tax benefits is periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, certain changes and/or developments with respect to audits, and expiration of the statute of limitations. The outcome for a particular audit cannot be determined with certainty prior to the conclusion of the audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Group’s estimates. As each audit is concluded, adjustments, if any, are appropriately recorded in the Group’s consolidated financial statements. Additionally, in future periods, changes in facts, circumstances, and new information may require the Group to adjust the recognition and measurement estimates with regards to individual tax positions. Changes in recognition and measurement estimates are recognized in the period in which the changes occur.

(x) Land Appreciation Tax (“LAT”)

In accordance with the relevant taxation laws for real estate companies of the provinces in which the subsidiaries operate in the PRC, the local tax authorities levy LAT based on progressive rates ranging from 30% to 60% on the appreciation of land value, being the proceeds of sales of properties less deductible expenditures, generally including borrowing costs and relevant property development expenditures. LAT is generally prepaid based on a fixed percentage (varying by local tax jurisdiction) of customer deposits and is expensed when the related revenue is recognized.

(y) Comprehensive income

Comprehensive income is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220, Comprehensive Income (“ASC 220”), requires that all items that are required to be recognized under current accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. For each of the periods presented, the Group’s comprehensive income includes net income/(loss) and foreign currency translation adjustments and is presented in the consolidated statements of comprehensive income.

(z) Advertising and promotion expenses

Advertising and promotion costs are expensed as incurred, or the first time the activity takes place, in accordance with ASC 720-35, Advertising Costs. For the year ended December 31, 2023, the Group recorded advertising and promotion expenses of US$6,664,465 (2021: US$40,262,333; 2022: US$19,164,227).

(aa) Leases

The Company adopted ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) from January 1, 2019 by using the modified retrospective method and did not restate the comparable periods. The Company has elected the package of practical expedients, which allows the Company to carry forward our original assessment of whether contracts contained a lease, lease classification, and the initial direct cost. Lastly, the Company elected the short-term lease exemption for all contracts with lease terms of 12 months or less.

The Group determines if an arrangement is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset.

Lessee

The Group categorizes leases with contractual terms longer than 12 months as either operating or finance. Finance leases are generally those leases that transfer ownership to the Group or allow the Group to purchase assets at a nominal amount by the end of the lease term. Assets acquired under finance leases are recorded in property and equipment, net and real estate properties held for lease, net. All other leases are recorded as operating lease right-of-use (“ROU”) assets.

Lease liability is recorded based the present value of the lease payments over the lease term using a discount rate at commencement date. As the implicit rate in the Group’s leases is not typically readily available, the Group uses an incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. This incremental borrowing rate reflects the fixed rate at which the Group could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment. Leased assets are recognized based on the initial present value of the lease payments, reduced by lease incentives. Operating lease expense for lease payments is recognized on a straight-line basis over the lease term. The expected lease terms are based on the non-cancelable term of the lease and may contain options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Finance lease assets are amortized in a manner consistent with the Group’s normal depreciation policy for owned assets. Variable lease payments not dependent on an index or rate are excluded from the ROU assets and lease liability calculations and are recognized in expense in the period which the obligation for those payments is incurred.

As of December 31, 2023, the Company recognized operating lease ROU assets of US$1.6 million (2022: US$5.7 million) and total lease liability of US$2.6 million (2022: US$7.1 million), including current portion of US$2.2 million (2022: US$3.8 million) for operating lease and US$nil (2022: US$nil) for finance lease.

Lessor

As a lessor, the Company’s leases are classified as operating leases under ASC 842, Leases, and thus the pattern of recognition of real estate lease income remains unchanged from previous lease accounting guidance. The lease components and non-lease components are accounted for separately.

(ab) Property warranty

The Company and its subsidiaries provide customers with assurance-type warranties which cover major defects of building structure and certain fittings and facilities of properties sold as stipulated in the relevant sales contracts. The warranty period varies from two months to three years, depending on different property components the warranty covers.

The Group regularly estimates potential costs for materials and labor with regards to warranty-type claims expected to be incurred subsequent to the delivery of a property. The Group regularly monitors the warranty reserve and makes adjustments to its pre-existing warranties, if any, in order to reflect changes in trends and historical data as information becomes available. The Group may seek recourse against its contractors or any related third parties if it can be demonstrated they are at fault. In addition, the Group withholds up to 5% of the contract cost from sub-contractors for periods of two to five years. These amounts are included in current liabilities, and are only paid to the extent that there has been no warranty claim against the Group relating to the work performed or materials supplied by the subcontractors. For the periods presented, the Group had not recognized any warranty liability nor incurred any warranty costs in excess of the amount retained from subcontractors.

(ac) Earnings per share

Earnings per share are calculated in accordance with ASC 260, Earnings per Share (“ASC 260”). Basic earnings per share is computed by dividing net income attributable to holders of common shares by the weighted average number of common shares outstanding during the period. Diluted earnings per common share reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares. Common share equivalents consist of common shares issuable upon the exercise of the share options and vesting of restricted shares units using treasury stock method. Common equivalent shares are excluded from the computation of diluted earnings per share if their effects would be anti-dilutive. The non-vested options granted with performance conditions are excluded in the computation of diluted EPS unless the options are dilutive and unless their conditions (a) have been satisfied at the reporting date or (b) would have been satisfied if the reporting date was the end of the contingency period.

(ad) Treasury Shares

The Company accounted for shares repurchased as treasury shares at cost in accordance with ASC Subtopic 505-30, Treasury Shares. When the Company decides to retire the treasury shares, the difference between the original issuance price and the repurchase price may be allocated between additional paid-in capital and retained earnings.

On May 20, 2019, the Board of Directors unanimously authorized management to repurchase up to US$50 million of the Company’s shares from the approval date to the end of 2021. On August 28, 2023, the Board of Directors unanimously authorized management to repurchase up to 1,000,000 ADSs. As of December 31, 2023, the Company had a balance of 60,733,786 (2022: 54,977,586) treasury shares amounting to US$116,793,448 (2022: US$116,061,577).

(ae) Senior Secured Notes

On June 29, 2020, the Company issued notes with an aggregate principal amount of RMB514.5 million (US$75 million) due on June 29, 2022 (the “June 2022 Senior Secured Notes”) at a coupon rate of 12.00% per annum payable semi-annually. Interest is payable on December 29 and June 29 of each year, commencing December 29, 2020. Given that the June 2022 Senior Secured Notes are debts in their legal form and are not a derivative in its entirety, they have been classified as other long-term debts. The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the June 2022 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the June 2022 Senior Secured Notes. The June 2022 Senior Secured Notes were issued at par.

On September 17, 2020, the Company issued notes with an aggregate principal amount of US$300,000,000 due on September 17, 2023 (the “September 2023 Senior Secured Notes”) at a coupon rate of 14.50% per annum payable semi-annually. Interest is payable on March 17 and September 17 of each year, commencing March 17, 2021. Given that the September 2023 Senior Secured Notes are debts in their legal form and are not a derivative in its entirety, they have been classified as other long-term debts. The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the September 2023 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the September 2023 Senior Secured Notes. The September 2023 Senior Secured Notes were issued at par.

On January 25, 2021, the Company issued a collective aggregate principal amount of US$270 million due on January 15, 2024 (the “January 2024 Senior Secured Notes”) at a coupon rate of 14.0% per annum payable semi-annually. Interest will be payable on July 25 and January 25 of each year, commencing July 25, 2021. Given that the January 2024 Senior Secured Notes are debt in their legal form and are not a derivative in its entirety, they have been classified as other long-term debts. The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the January 2024 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the January 2024 Senior Secured Notes. The January 2024 Senior Secured Notes were issued at par.

On October 15, 2021, eligible holders of the certain notes issued by the Company in 2019 in the aggregate principal amount of US$207.68 million exchanged their notes and the Company delivered the October 2023 Senior Secured Notes in the aggregate principal amount of US$205.4 million due on October 15, 2023 and US$19.1 million in cash consideration in full satisfaction of the exchange consideration to those eligible holders. The October 2023 Senior Secured Notes bear interest at 14.2% per annum payable semi-annually. Interest will be payable on April 15 and October 15 of each year, commencing April 15, 2022. Given that the October 2023 Senior Secured Notes are debt in their legal form and are not a derivative in its entirety, they have been classified as other long-term debts. The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the October 2023 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the October 2023 Senior Secured Notes. The October 2023 Senior Secured Notes were issued at par.

On August 18, 2023, eligible holders of the September 2023 Senior Secured Notes, the October 2023 Senior Secured Notes and the January 2024 Senior Secured Notes in the aggregate principal amount of US$307,363,500 exchanged their notes for, and we delivered, the September 2027 Senior Secured Notes, in the aggregate principal amount of US$331,303,941 due on September 30, 2027 and US$1,536,863 in cash consideration in full satisfaction of the exchange consideration to those eligible holders. The September 2027 Senior Secured Notes bear interest at 3% per annum payable semi-annually in the form of cash and/or payment-in-kind subject to our election. Interest will be payable on March 30 and September 30 of each year, commencing September 30, 2023. The September 2027 Senior Secured Notes have a five-year term maturing on September 30, 2027. As of December 31, 2023, we had a total principal amount of US$337.93 million of the September 2027 Senior Secured Notes outstanding. Given that the September 2027 Senior Secured Notes are debt in their legal form and are not a derivative in its entirety, they have been classified as other long-term debts. The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the September 2027 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the September 2027 Senior Secured Notes. The September 2027 Senior Secured Notes were issued at par.

(af) Onshore corporate bonds

During the periods presented, Xinyuan China issued a series of onshore corporate bonds. Given that each onshore corporate bond individually is a debt in its legal form and is not a derivative in its entirety, it has been classified as other long-term debt. The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from these onshore corporate bonds under the requirements of ASC 815. The onshore corporate bonds were issued at par.

(ag) Short-term investments

All highly liquid investments with original maturities of greater than three months, but less than 12 months, are classified as short-term investments. Investments that are expected to be realized in cash during the next 12 months are also included in short-term investments.

Equity investments that have readily determinable fair values are measured at fair value with changes recognized in gain(loss) on short-term investments in the consolidated statements of comprehensive income. Equity investments without readily determinable fair values and for which the Company does not have the ability to exercise significant influence are accounted for at cost with adjustments for observable changes in prices or impairments.

(ah) Assets acquisition and business combinations

Pursuant to ASC 805, Business Combinations (“ASC 805”), the Company determines whether a transaction or other event is a business combination by applying the definition below, which requires that the assets acquired and liabilities assumed constitute a business. The guidance requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If that threshold is met, the set of assets and activities is not a business. If it is not met, the entity evaluates whether the set meets the definition of a business. ASC 805 defines a business as consisting of inputs and processes applied to those inputs that have the ability to contribute to the creation of outputs. Inputs are defined as economic resources, while processes are defined as protocols, systems or standards. Inputs and processes create, or have the ability to contribute to the creation of, outputs. Outputs are often present in businesses but are not required to meet the definition of a business. To be considered a business under ASC 805, the acquisition of net assets must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. If the assets acquired are not a business, the reporting entity shall account for the transaction or other event as an assets acquisition.

The Company accounted for its acquisitions of Suzhou Yefang, Wuhan Yinghexin and Qingdao Keda as asset acquisitions either because the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets or the acquired entities had no processes in place to apply to inputs to have the ability to create outputs.

The excess of the fair value of purchase consideration over the fair values of identifiable assets acquired and liabilities assumed is recorded as goodwill. The Group reviews goodwill for impairment at least annually or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. Impairment losses on goodwill of US$nil (2022: US$1,481,006) and impairment loss on intangible assets of US$nil (2022: US$nil) were recognized for the year ended December 31, 2023.

(ai) Non-controlling interests

A non-controlling interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Group. Consolidated net income on the consolidated statements of comprehensive income includes the net loss/(income) attributable to non-controlling interests. The cumulative results of operations attributable to non-controlling interests are recorded as non-controlling interests in the Group’s consolidated balance sheets. Losses attributable to the Group and the non-controlling interest in a subsidiary may exceed their interests in the subsidiary’s equity. The excess, and any further losses attributable to the Group and the non-controlling interest, shall continue to be attributed to those interests.

(aj) Effect of change in estimate

Revisions in estimated gross profit margins related to estimated costs and revenues are made in the period in which circumstances requiring the revisions become known. During the year ended December 31, 2023, real estate development projects (Zhengzhou International New City III B, Beijing Tongzhou Liyuan, Xi’an Xinyuan Royal Palace, Lingshan Bay Dragon Seal), which recognized gross profit in 2022, had changes in their estimated gross profit margins. As these projects moved closer to completion during 2023, the Company adjusted its prior estimates related to selling prices and development costs. As a result of the changes in estimate above, gross profit, net income and basic and diluted earnings per share increased by US$104.8 million (2021: decreased by US$265.3 million, 2022: decreased by US$55.3 million,), US$78.6 million (2021: decreased by US$199.0 million, 2022: decreased by US$41.5 million), US$0.74 per share (2021: decreased by US$1.85 per share, 2022: decreased US$0.38 per share), and US$0.74 per share (2021: decreased by US$1.85 per share, 2022: decreased by US$0.38 per share), respectively, for the year ended December 31, 2023.

(ak) Share-based compensation

The Group has adopted ASC 718, Compensation-Stock Compensation (“ASC 718”), which requires that share-based payment transactions with employees, such as restricted shares or stock options, be measured based on the grant-date fair value of the equity instrument issued, and the Company has elected to recognize compensation expense using the straight-line method for all restricted shares and stock options granted with service conditions that have a graded vesting schedule. In addition, the Company recognizes share-based compensation expense net of an estimated forfeiture rate and therefore, only recognizes compensation cost for those shares expected to vest over the service period of the award. The estimation of the forfeiture rate is primarily based on historical experience of employee turnover. To the extent the Company revises this estimate in the future, the share-based payments could be materially impacted in the year of revision, as well as in the following years.

The Company also has a policy of using authorized shares in the existing pool to satisfy any future exercise of share options and shares repurchased held by a third-party trustee to satisfy the RSUs granted under the Company’s 2014 Restricted Stock Unit Plan.

For options granted with performance conditions, share-based compensation expense is recognized based on the probable outcome of the performance condition using the accelerated method over the requisite service period. A performance condition is not taken into consideration in determining fair value of the non-vested shares granted. The fair value of liabilities incurred in share-based payment transactions with employees are remeasured at the end of each reporting period through settlement. Changes in the fair value of a liability incurred under a share-based payment arrangement that occur during the requisite service period are recognized as compensation costs over that period.

(al) Segment Reporting

In accordance with ASC 280, Segment Reporting (“ASC 280”), segment reporting is determined based on how the Group’s chief operating decision maker reviews operating results to make decisions about allocating resources and assessing performance for the Group. According to the management approach, the Group operates in geographical segments. Therefore, each of its individual property developments is a discrete operating segment. The Group has aggregated its segments on a geographical basis as property development projects undertaken within a region have similar expected economic characteristics, type of properties offering, customers and market and regulatory environment (Note 21).

(am) Recent Accounting Pronouncements

The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost. ASU 2016-13 was subsequently amended by ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, ASU 2019-04 Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, and ASU 2019-05, Targeted Transition Relief. In November 2019, the FASB issued ASU 2019-10, which extends the effective date for the adoption of ASU 2016-13. In November 2019, the FASB issued ASU 2019-11 to clarify its new credit impairment guidance in ASU 326. Accordingly, for public entities that are not smaller reporting entities, ASU 2016-13 and its amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. For all other entities, this guidance and its amendments will be effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company adopted this guidance on January 1, 2023 and the adoption of this ASU did not have a material impact on its consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU 2018-13”). ASU 2018-13 modifies the disclosure requirements on fair value measurements. ASU 2018-13 is effective for all entities for fiscal years and interim periods within those fiscal years beginning after December 15, 2019, with early adoption permitted for any removed or modified disclosures. The removed and modified disclosures were adopted on a retrospective basis and the new disclosures were adopted on a prospective basis. The Company adopted this guidance on date of initial adoption and the adoption of this ASU did not have a material impact on its consolidated financial statements.

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740)—Simplifying the Accounting for Income Taxes. ASU 2019-12 is intended to simplify accounting for income taxes. It removes certain exceptions to the general principles in Topic 740 and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years, with early adoption permitted. The Company adopted this guidance on January 1, 2021 and the adoption of this ASU did not have a material impact on its consolidated financial statements.

Short-term bank loans and other debt (Tables)

12 Months Ended

Dec. 31, 2023

Short-term bank loans and other debt

Schedule of short-term bank loans and other debt


	December 31,	December 31,
	2022	2023
	US$	US$
Loan from Hua Xia Bank Co., Ltd.
Due March 21, 2023 at 7.00% per annum	4,020,331	3,953,295
Due March 21, 2023 at 7.00% per annum	11,486,661	—
Due March 30, 2023 at 8.00% per annum	5,743,331	—

Loan from Everbright Bank
Due October 19, 2022 at 7.83% per annum	4,278,781	4,207,435

Loan from Henan Zhongyuan Microfinance Co., Ltd
Due July 13, 2023, at 11.00% per annum	4,235,706	4,165,078

Loan from Beijing Dingcheng Pawnshop Co., Ltd
Due September 9, 2022 at 18.00% per annum	1,579,416	1,553,080

Loan from Bank of Zhengzhou
Due March 28, 2023, at 4.75% per annum	50,254,143	49,416,183

Total short-term bank loans and other debt	81,598,369	63,295,071

Short-term investments

12 Months Ended

Dec. 31, 2023

Short-term investments

Short-term investments

3. Short-term investments

The short-term investments represent investments in REITs, which are publicly traded on the Hong Kong Stock Exchange, marketable equity securities, and investment in private equity funds, which are expected to be realized in cash during the next 12 months.

The following summarizes the short-term investments measured at fair value at December 31, 2022 and 2023:


	December 31, 2022
	US$
	Fair		Unrealized
	value	Cost	loss in profit and loss
Level 1
Equity securities with readily determinable fair value	11,049,675	13,793,189	(2,743,514)
Investment product with readily determinable fair value	943,254	3,099,771	(2,156,517)
Total	11,992,929	16,892,960	(4,900,031)


	December 31, 2023
	US$
	Fair		Unrealized
	value	Cost	loss in profit and loss
Level 1
Equity securities with readily determinable fair value	3,996,130	6,119,697	(2,123,567)
Investment product with readily determinable fair value	1,426,134	1,411,891	14,243
Total	5,422,264	7,531,588	(2,109,324)

During the year ended December 31, 2023, US$5,516,773 (2022: US$66,775,423) net realized loss and US$2,109,324 (2022: US$4,900,031) unrealized loss are included in earnings.

Long-term bank loans (Details) - USD ($)	12 Months Ended
Long-term bank loans (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total	$ 563,058,544	$ 590,573,895
Less: current portion of long-term bank loans	(410,969,547)	(443,970,822)
Total long-term bank loans	152,088,997	146,603,073
Real estate properties under development	2,453,888,438	2,446,216,486	$ 2,869,622,702
Real estate properties held for lease	322,552,001	373,467,867	$ 440,300,371
Real estate properties development completed	854,076,531	830,840,167
Property and equipment, net	25,543,359	28,831,111
Restricted cash	96,356,223	269,285,004
Collateral Pledged [Member]
Debt Instrument [Line Items]
Land use rights	398,837,052	424,482,379
Real estate properties held for lease	$ 278,724,872	$ 137,103,470
Long Term Bank Loan [Member]
Debt Instrument [Line Items]
weighted average interest rate	6.06%	7.46%
Long Term Bank Loan [Member] \| Collateral Pledged [Member]
Debt Instrument [Line Items]
Real estate properties under development	$ 235,545,667	$ 223,105,450
Land use rights	249,556,186	261,499,802
Real estate properties held for lease	115,419,606	119,586,312
Real estate properties development completed	8,996,093	9,148,641
Long Term Bank Loan [Member] \| Collateral Pledged [Member] \| RMB
Debt Instrument [Line Items]
Long term bank loan	563,058,544
Long Term Bank Loan [Member] \| Collateral Pledged [Member] \| US Dollar
Debt Instrument [Line Items]
Long term bank loan	$ 0	0
Minimum [Member] \| Long Term Bank Loan [Member]
Debt Instrument [Line Items]
Debt instrument prime rate range	93.00%
Maximum [Member] \| Long Term Bank Loan [Member]
Debt Instrument [Line Items]
Debt instrument prime rate range	189.00%
Loan from ICBC [Member]
Debt Instrument [Line Items]
Total	$ 0	23,760,042
Loan from ICBC [Member] \| Loan from ICBC, Due December 22 , 2023, at 4.75 Per Annum
Debt Instrument [Line Items]
Total	$ 0	11,927,462
Maturity date	Dec. 22, 2023
Stated rate	4.75%
Loan from ICBC [Member] \| Loan from ICBC, Due December 22 , 2023, at 4.75% per annum One
Debt Instrument [Line Items]
Total	$ 0	5,921,257
Maturity date	Dec. 22, 2023
Stated rate	4.75%
Loan from ICBC [Member] \| Loan from ICBC, Due December 22 , 2023, at 4.75% per annum Two
Debt Instrument [Line Items]
Total	$ 0	5,911,323
Maturity date	Dec. 22, 2023
Stated rate	4.75%
Loan from Bank of China [Member]
Debt Instrument [Line Items]
Total	$ 20,458,300	20,805,215
Loan from Bank of China [Member] \| Loan from Bank of China, Due March 19, 2023 at 5.22% per annum
Debt Instrument [Line Items]
Total	$ 14,118,909	14,358,326
Maturity date	Mar. 19, 2023
Stated rate	7.2375%
Loan from Bank of China [Member] \| Loan from Bank of China, Due October 31, 2022 at 4.75% per annum
Debt Instrument [Line Items]
Total	$ 6,339,390	6,446,889
Maturity date	Oct. 31, 2022
Stated rate	4.75%
Loan from Ping An Bank Co., Ltd [Member]
Debt Instrument [Line Items]
Total	$ 18,213,393	18,522,241
Loan from Ping An Bank Co., Ltd [Member] \| Loan from Ping An Bank Co., Ltd.Due March 18, 2022, at 6.5075% per annum [Member]
Debt Instrument [Line Items]
Total	$ 18,213,393	18,522,241
Maturity date	Mar. 18, 2022
Stated rate	6.1575%
Loan from Bank of Minsheng [Member]
Debt Instrument [Line Items]
Total	$ 256,145,359	267,914,884
Loan from Bank of Minsheng [Member] \| Loan from Bank of Minsheng Due May 30, 2031, at 8.5% per annum [Member]
Debt Instrument [Line Items]
Maturity date	May 30, 2031
Stated rate	4.40%
Loan from Bank of Minsheng [Member] \| Loan from Bank of Minsheng Due May 30, 2031, at 6.5% per annum [Member]
Debt Instrument [Line Items]
Total	$ 46,451,212	49,249,060
Loan from Bank of Minsheng [Member] \| Loan from Bank of Minsheng Due March 16 2023 at 7.6% per annum [Member]
Debt Instrument [Line Items]
Maturity date	Sep. 15, 2025
Stated rate	5.80%
Loan from Bank of Minsheng [Member] \| Loan From Bank Of Minsheng Due March 30, 2023 At 7.6 Per annum [Member]
Debt Instrument [Line Items]
Total	$ 178,553,802
Maturity date	Mar. 30, 2023
Stated rate	7.60%
Loan from Bank of Minsheng [Member] \| Loan from Bank of Minsheng Due January 14, 2024 at 6.65% per annum [Member]
Debt Instrument [Line Items]
Total	$ 31,140,345
Maturity date	Jan. 14, 2024
Stated rate	6.65%
Loan from Bank of Minsheng [Member] \| Loan from Bank of Minsheng Due July 7, 2026 at 4.40% per annum [Member]
Debt Instrument [Line Items]
Maturity date	Jul. 07, 2026
Stated rate	4.40%
Loan from Bank of Minsheng [Member] \| Loan From Bank Of Minsheng Due September 15 2025 At 5.8 Per annum [Member]
Debt Instrument [Line Items]
Total		186,902,335
Loan from Bank of Minsheng [Member] \| Loan From Bank Of Minsheng Due July 7, 2026 At 4.4 Per annum [Member]
Debt Instrument [Line Items]
Total		31,763,490
Loan from Bank of Minsheng [Member] \| Loan from Bank of Huaxia Co., Ltd Due March 21, 2023, at 7.00% per annum [Member]
Debt Instrument [Line Items]
Maturity date	Mar. 21, 2023
Stated rate	7.00%
Loan from Bank of Huaxia Co., Ltd
Debt Instrument [Line Items]
Total	$ 16,925,749	0
Loan from Bank of Huaxia Co., Ltd \| Loan from Bank of Huaxia Co., Ltd Due May 26, 2025 at 7.00% per annum
Debt Instrument [Line Items]
Total	$ 11,293,716	0
Loan from Bank of Huaxia Co., Ltd \| Loan from Bank of Huaxia Co., Ltd Due Due May 26, 2025, at 7.00% per annum
Debt Instrument [Line Items]
Maturity date	May 26, 2025
Stated rate	6.50%
Loan from Bank of Huaxia Co., Ltd \| Loan from Bank of Huaxia Co., Ltd Due June 29, 2025 at 8.00% Per Annum
Debt Instrument [Line Items]
Total	$ 5,632,033	0
Maturity date	Jun. 29, 2025
Stated rate	7.00%
Loan from Bank of Huaxia Co., Ltd \| Loan from Bank of Huaxia Co., Ltd Due March 30, 2023, at 8.00% Per Annum [Member]
Debt Instrument [Line Items]
Maturity date	Mar. 30, 2023
Stated rate	8.00%
Loan from Xiamen International Bank Co., Ltd [Member]
Debt Instrument [Line Items]
Total	$ 6,847,671	10,337,995
Loan from Xiamen International Bank Co., Ltd [Member] \| Loan from Xiamen International Bank Co., Ltd Due February 20, 2023, at 10.00% Per Annum [Member]
Debt Instrument [Line Items]
Total	$ 6,847,671	7,179,163
Loan from Xiamen International Bank Co., Ltd [Member] \| Loan from Xiamen International Bank Co., Ltd Due November 16, 2024, at 6.80% Per Annum [Member]
Debt Instrument [Line Items]
Maturity date	Nov. 16, 2024
Stated rate	6.80%
Loan from Xiamen International Bank Co., Ltd [Member] \| Loan from Xiamen International Bank Co., Ltd Due January 6, 2023, at 6.80% Per Annum [Member]
Debt Instrument [Line Items]
Maturity date	Jan. 06, 2023
Stated rate	6.80%
Loan from Xiamen International Bank Co., Ltd [Member] \| Loan from Xiamen International Bank Co., Ltd Due April 30, 2023, at 6.80% Per Annum [Member]
Debt Instrument [Line Items]
Total	$ 0	3,158,832
Maturity date	May 07, 2023
Stated rate	7.30%
Loan from Bank of Guangzhou Co., Ltd [Member] \| Loan from Bank of Guangzhou Co., Ltd Due September 3, 2024, at 7.30% per annum [Member]
Debt Instrument [Line Items]
Total	$ 87,889,366	89,999,679
Maturity date	Sep. 03, 2024
Stated rate	9.00%
Loan from Bank of Zhengzhou Co., Ltd [Member]
Debt Instrument [Line Items]
Total	$ 156,578,706	159,233,840
Loan from Bank of Zhengzhou Co., Ltd [Member] \| Loan from Bank of Zhengzhou Co., Ltd, Due March 26, 2023, at 7.000075% per annum
Debt Instrument [Line Items]
Total	$ 50,686,885	51,546,392
Maturity date	Mar. 25, 2023
Stated rate	4.75%
Loan from Bank of Zhengzhou Co., Ltd [Member] \| Loan from Bank of Zhengzhou Co., Ltd, Due August 11, 2023 at 6.5% per annum
Debt Instrument [Line Items]
Total	$ 105,891,821	$ 107,687,448
Maturity date	Aug. 11, 2023
Stated rate	4.75%

Segment reporting (Details) - USD ($)	12 Months Ended
Segment reporting (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment reporting
Real estate lease income	$ 37,218,451	$ 20,782,612	$ 19,781,344
Total revenue	804,974,475	950,012,173	1,536,017,781
Cost of real estate lease income	(33,920,221)	(20,287,953)	(22,438,180)
Total costs of revenue	(672,509,119)	(878,056,065)	(1,468,080,865)
Gross profit	132,465,356	71,956,108	67,936,916
Operating expenses	(84,171,803)	(127,046,010)	(253,979,411)
Gain on disposal of property held for lease		5,687,312	(18,651,259)
Operating (loss) /income	48,293,553	(49,402,590)	(204,693,754)
Interest income	4,779,314	8,207,327	28,296,824
Interest expense	(176,940,318)	(158,008,411)	(183,398,772)
Net realized gain on short-term investments	(7,626,097)	(71,675,454)	(30,203,357)
Share of (loss)/gain in an equity investee	(17,914,070)	(26,166,538)	(23,345,765)
Gain on extinguishment of debt	169,932,886	9,620,914	0
Gain on modification of debt	26,372,965
Exchange (loss) /gains	13,482,057	39,952,338	(9,707,463)
Other (loss) /income	25,426,872	(1,968,849)	2,509,645
(Loss) /income before income taxes	(85,807,162)	249,441,263	420,542,642
Income tax benefit/(expense)	(55,275,451)	(9,241,462)	7,280,528
Net income/(loss)	30,531,711	(258,682,725)	(413,262,114)
Depreciation and amortization	22,506,645	13,168,207	18,267,515
Capital expenditure	372,937	5,236,375	104,811
Real estate properties development completed and under development	3,307,964,969	3,277,056,653
Real estate properties held for lease	322,552,001	373,467,867	440,300,371
Total long-lived assets	840,181,206	961,071,201	1,660,459,942
TOTAL ASSETS	5,333,393,231	5,850,278,327	6,446,279,290
Real estate properties development completed	854,076,531	830,840,167
Real estate properties under development	2,453,888,438	2,446,216,486	2,869,622,702
Real Estate Sales [Member]
Segment reporting
Revenue	658,073,173	809,412,923	1,392,240,005
Cost of revenue	(557,662,795)	(768,356,253)	(1,359,344,416)
Real Estate Management Services Income [Member]
Segment reporting
Revenue	93,676,874	105,460,071	109,822,206
Cost of revenue	(72,310,054)	(79,609,736)	(73,978,205)
Other Revenue [Member]
Segment reporting
Revenue	16,005,977	14,356,567	14,174,226
Cost of revenue	(8,616,049)	(9,802,123)	(12,320,064)
Henan [Member]
Segment reporting
Real estate lease income	29,274,568	7,268,773	9,344,804
Total revenue	191,314,121	153,519,012	357,138,340
Cost of real estate lease income	(23,817,603)	(9,680,982)	(15,658,378)
Total costs of revenue	(191,326,002)	(150,603,069)	(390,575,801)
Gross profit	(11,881)	2,915,943	(33,437,461)
Operating expenses	(12,866,682)	(11,698,488)	(67,226,888)
Gain on disposal of property held for lease		2,650,215	0
Operating (loss) /income	(12,878,563)	(6,132,330)	(100,664,349)
Interest income	6,059	1,602,637	18,709,958
Interest expense	(12,434,185)	(13,389,344)	(12,070,505)
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee	(7,847,367)	(3,718,820)	1,090,507
Gain on extinguishment of debt		0
Exchange (loss) /gains	9,426,923	45,800,405	(20,163,471)
Other (loss) /income	3,670,566	(1,587,295)	(2,110,256)
(Loss) /income before income taxes	20,056,567	(22,575,253)	115,208,116
Income tax benefit/(expense)	14,814,458	(12,780,775)	43,657,150
Net income/(loss)	(5,242,109)	9,794,478	(71,550,966)
Depreciation and amortization	4,136,037	5,516,725	6,842,628
Capital expenditure	3,353	5,221,417	1,965,626
Real estate properties development completed and under development	1,207,782,937	1,159,231,389
Real estate properties held for lease	45,427,310	48,958,513	72,022,044
Total long-lived assets	286,787,108	386,224,257	431,132,864
TOTAL ASSETS	2,089,109,648	2,270,506,759	2,279,523,193
Real estate properties under development			909,477,150
Henan [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	152,591,635	133,906,983	338,195,148
Cost of revenue	(163,057,353)	(134,259,620)	(369,888,568)
Henan [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue	1,538,767	4,448,994	6,746,892
Cost of revenue	(2,749,635)	(5,631,437)	(3,708,523)
Henan [Member] \| Other Revenue [Member]
Segment reporting
Revenue	7,909,151	7,894,262	2,851,496
Cost of revenue	(1,701,411)	(1,031,030)	(1,320,332)
Shandong [Member]
Segment reporting
Real estate lease income	1,009,694	1,530,316	665,170
Total revenue	90,078,981	154,435,022	175,035,303
Cost of real estate lease income	(240,837)	(852,927)	(611,378)
Total costs of revenue	(82,460,252)	(172,172,705)	(176,917,224)
Gross profit	7,618,729	(17,737,683)	(1,881,921)
Operating expenses	(5,303,199)	(13,408,341)	(10,880,365)
Gain on disposal of property held for lease		397,708	0
Operating (loss) /income	2,315,530	(30,748,316)	(12,762,286)
Interest income	142,181	280,967	(126,051)
Interest expense	(7,249,071)	(1,818,414)	(5,794,489)
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee		0	(1,873,472)
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	0
Other (loss) /income	2,845,027	17,236	3,336,726
(Loss) /income before income taxes	1,946,333	32,268,527	17,219,572
Income tax benefit/(expense)	792,277	22,127,223	(3,885,809)
Net income/(loss)	(1,154,056)	(10,141,304)	(21,105,381)
Depreciation and amortization	274,482	874,640	914,765
Capital expenditure	627	803	0
Real estate properties development completed and under development	394,558,791	412,162,579
Real estate properties held for lease	(6,129,675)	2,434,604	4,133,570
Total long-lived assets	15,081,225	13,434,007	517,720,952
TOTAL ASSETS	201,589,676	259,228,051	416,680,530
Real estate properties under development			116,698,109
Shandong [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	89,069,287	152,896,390	174,353,777
Cost of revenue	(82,219,415)	(171,319,778)	(176,289,676)
Shandong [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Shandong [Member] \| Other Revenue [Member]
Segment reporting
Revenue		8,316	16,356
Cost of revenue		0	(16,170)
Shanghai [Member]
Segment reporting
Real estate lease income	1,511,669	2,080,042	1,339,557
Total revenue	12,894,702	5,689,099	138,442,300
Cost of real estate lease income	(780,902)	(778,313)	(193,442)
Total costs of revenue	(9,700,169)	(4,278,612)	(125,392,217)
Gross profit	3,194,533	1,410,487	13,050,083
Operating expenses	(2,607,527)	(3,366,711)	(19,136,811)
Gain on disposal of property held for lease		2,150,988	0
Operating (loss) /income	587,006	194,764	(6,086,728)
Interest income	200,827	656,403	348,282
Interest expense		(99,438)	(910,853)
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee	3,370,027	3,784,015	1,052,997
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	(21)
Other (loss) /income	4,937,780	(19,220)	144,617
(Loss) /income before income taxes	(9,095,640)	(4,516,524)	5,451,706
Income tax benefit/(expense)	(12,047,878)	(3,927,044)	(4,274,715)
Net income/(loss)	(2,952,238)	589,480	(9,726,421)
Depreciation and amortization	603,524	647,400	198,149
Capital expenditure		0	0
Real estate properties development completed and under development	102,589,027	100,867,987
Real estate properties held for lease	29,843,420	32,354,424	36,147,355
Total long-lived assets	137,469,838	133,703,563	138,953,401
TOTAL ASSETS	513,329,822	540,587,961	600,814,871
Real estate properties under development			105,042,744
Shanghai [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	11,669,658	3,056,829	135,072,403
Cost of revenue	(9,614,743)	(7,306,487)	(125,086,848)
Shanghai [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue		0	0
Cost of revenue		3,188,299	0
Shanghai [Member] \| Other Revenue [Member]
Segment reporting
Revenue	(286,625)	552,228	2,030,340
Cost of revenue	695,476	617,889	(111,927)
Sichuan [Member]
Segment reporting
Real estate lease income	397,685	416,589	532,240
Total revenue	148,373,757	94,184,827	129,264,086
Cost of real estate lease income	(697,495)	(219,502)	(404,647)
Total costs of revenue	(134,133,336)	(88,743,294)	(165,008,835)
Gross profit	14,240,421	5,441,533	(35,744,749)
Operating expenses	(2,561,480)	(3,728,249)	(8,500,877)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	11,678,941	1,713,284	(44,245,626)
Interest income	131,341	250,397	728,264
Interest expense	(18,543,629)	(24,130,024)	(26,416,301)
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee		0	0
Gain on extinguishment of debt		0
Gain on modification of debt	26,372,965
Exchange (loss) /gains		0	0
Other (loss) /income	(227,508)	277,819	138,413
(Loss) /income before income taxes	(19,412,110)	21,888,524	69,795,250
Income tax benefit/(expense)	(17,481,633)	(2,443,468)	12,936,548
Net income/(loss)	1,930,477	(24,331,992)	(56,858,702)
Depreciation and amortization	598,078	1,095,409	1,130,049
Capital expenditure		0	5,261
Real estate properties development completed and under development	503,780,381	577,969,652
Real estate properties held for lease	31,649,101	32,786,449	36,470,962
Total long-lived assets	53,134,953	49,512,464	49,540,764
TOTAL ASSETS	600,165,262	709,048,905	710,687,239
Real estate properties under development			527,858,832
Sichuan [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	147,542,499	93,804,069	128,609,911
Cost of revenue	(133,082,218)	(87,599,735)	(163,249,870)
Sichuan [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue	156,324	0	0
Cost of revenue	(340,884)	0	0
Sichuan [Member] \| Other Revenue [Member]
Segment reporting
Revenue	277,249	(35,831)	121,935
Cost of revenue	(12,739)	(924,057)	(1,354,318)
Beijing [Member]
Segment reporting
Real estate lease income	86,982	177,246	371,919
Total revenue	106,631,218	144,236,584	317,183,758
Cost of real estate lease income	(183,762)	(365,600)	(542,152)
Total costs of revenue	(68,230,044)	(116,174,685)	(256,351,575)
Gross profit	38,401,174	28,061,899	60,832,183
Operating expenses	(21,019,160)	(42,774,682)	(80,605,508)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	17,382,014	(14,712,783)	(19,773,325)
Interest income	98,485	1,093,214	249,117
Interest expense		(962,042)	(2,078,190)
Net realized gain on short-term investments		463	0
Share of (loss)/gain in an equity investee		0	0
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	0
Other (loss) /income	30,951	420,916	(644,101)
(Loss) /income before income taxes	(17,511,450)	14,160,232	22,246,499
Income tax benefit/(expense)	(22,171,296)	(4,379,784)	(21,349,169)
Net income/(loss)	(4,659,846)	(18,540,016)	(43,595,668)
Depreciation and amortization	2,050,750	1,162,790	3,942,986
Capital expenditure	1,825	1,577	1,076,187
Real estate properties development completed and under development	65,449,973	45,945,861
Real estate properties held for lease	4,749,926	7,676,329	8,510,518
Total long-lived assets	25,002,494	24,828,219	46,722,553
TOTAL ASSETS	223,190,269	240,590,331	313,031,361
Real estate properties under development			173,273,166
Beijing [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	107,053,837	142,331,456	313,960,495
Cost of revenue	(64,969,677)	(110,230,204)	(250,046,777)
Beijing [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Beijing [Member] \| Other Revenue [Member]
Segment reporting
Revenue	(509,601)	1,727,882	2,851,344
Cost of revenue	(3,076,605)	(5,578,881)	(5,762,646)
Hainan [Member]
Segment reporting
Real estate lease income		0	0
Total revenue		0	413
Cost of real estate lease income		0	0
Total costs of revenue		0	0
Gross profit		0	413
Operating expenses	(57,945)	(47,094)	(310,883)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	(57,945)	(47,094)	(310,470)
Interest income	2	145	25,957
Interest expense		0	0
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee		0	0
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	0
Other (loss) /income	(4,453)	325	(36,650)
(Loss) /income before income taxes	62,396	46,624	321,163
Income tax benefit/(expense)	3,275	463	1,431,319
Net income/(loss)	(59,121)	(46,161)	1,110,156
Depreciation and amortization		0	0
Capital expenditure		0	0
Real estate properties development completed and under development		0
Real estate properties held for lease		0	0
Total long-lived assets	5,732,976	5,774,972	5,813,925
TOTAL ASSETS	11,064,860	11,212,039	11,747,496
Real estate properties under development			0
Hainan [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Hainan [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Hainan [Member] \| Other Revenue [Member]
Segment reporting
Revenue		0	413
Cost of revenue		0	0
Hunan [Member]
Segment reporting
Real estate lease income	(3,735,823)	1,162,618	1,223,472
Total revenue	(2,233,946)	1,008,538	10,333,688
Cost of real estate lease income	(667,817)	(363,485)	(1,206,177)
Total costs of revenue	5,774,400	(130,902)	(11,162,470)
Gross profit	3,540,454	877,636	(828,782)
Operating expenses	(336,874)	(1,242,859)	(1,059,651)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	3,203,580	(365,223)	(1,888,433)
Interest income	1,918	3,073	7,576
Interest expense		0	0
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee		0	0
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	0
Other (loss) /income	(2,898)	187,576	205,877
(Loss) /income before income taxes	(3,202,600)	174,574	1,674,980
Income tax benefit/(expense)	(4,364,673)	174,167	(3,023,380)
Net income/(loss)	(1,162,073)	(407)	(4,698,360)
Depreciation and amortization		0	0
Capital expenditure		0	0
Real estate properties development completed and under development	11,872,490	4,995,367
Real estate properties held for lease	47,061,528	54,293,887	59,903,607
Total long-lived assets	67,126,463	68,720,346	75,895,086
TOTAL ASSETS	81,359,058	78,448,652	82,923,478
Real estate properties under development			3,312,065
Hunan [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	627,881	(1,058,911)	8,271,910
Cost of revenue	7,156,894	943,112	(9,214,046)
Hunan [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Hunan [Member] \| Other Revenue [Member]
Segment reporting
Revenue	873,996	904,831	838,306
Cost of revenue	(714,677)	(710,529)	(742,247)
Shaanxi [Member]
Segment reporting
Real estate lease income	2,640,636	2,349,797	3,251,637
Total revenue	112,109,263	195,197,625	172,051,797
Cost of real estate lease income	(2,861,696)	128,004	(62,840)
Total costs of revenue	(77,844,151)	(160,242,257)	(147,181,253)
Gross profit	34,265,112	34,955,368	24,870,544
Operating expenses	(2,428,759)	(5,165,593)	(9,182,945)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	31,836,353	29,789,775	15,687,599
Interest income	1,221,974	667,222	254,323
Interest expense	(5,347,808)	(4,726,423)	(8,046,152)
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee		0	0
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	0
Other (loss) /income	(84,792)	49,144	381,157
(Loss) /income before income taxes	(27,625,727)	(25,779,718)	(8,276,927)
Income tax benefit/(expense)	(7,872,323)	(2,378,418)	(9,366,699)
Net income/(loss)	19,753,404	23,401,300	(1,089,772)
Depreciation and amortization	1,755,174	1,832,811	1,934,681
Capital expenditure		0	576
Real estate properties development completed and under development	53,897,457	35,489,672
Real estate properties held for lease	83,770,504	86,799,863	96,574,698
Total long-lived assets	94,644,226	96,615,555	107,098,269
TOTAL ASSETS	240,848,887	323,750,877	289,048,826
Real estate properties under development			45,339,962
Shaanxi [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	109,258,071	191,013,871	166,007,116
Cost of revenue	(74,748,589)	(156,675,331)	(142,797,184)
Shaanxi [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue	210,556	1,833,511	2,793,044
Cost of revenue	(233,866)	(3,694,930)	(4,321,229)
Shaanxi [Member] \| Other Revenue [Member]
Segment reporting
Revenue		446	0
Cost of revenue		0	0
US subsidiaries [Member]
Segment reporting
Real estate lease income	4,082,885	4,041,509	2,980,504
Total revenue	31,572,783	62,049,289	29,413,735
Cost of real estate lease income	(3,403,014)	(2,081,799)	(3,740,076)
Total costs of revenue	(31,243,159)	(77,840,871)	(36,200,910)
Gross profit	329,624	(15,791,582)	(6,787,175)
Operating expenses	(8,828,446)	(17,406,597)	(7,223,166)
Gain on disposal of property held for lease			0
Operating (loss) /income	(8,498,822)	(33,198,179)	(14,010,341)
Interest income	2,175	701	1,610
Interest expense	(28,825,082)	(15,815,618)	(15,736,448)
Net realized gain on short-term investments			0
Share of (loss)/gain in an equity investee			0
Exchange (loss) /gains			0
Other (loss) /income	13,595,467	(36,029)	17,770
(Loss) /income before income taxes	23,726,262	49,049,125	29,727,409
Income tax benefit/(expense)	(741,067)	1,206,732	(144,962)
Net income/(loss)	(24,467,329)	(47,842,393)	(29,872,371)
Depreciation and amortization	11,639,957	612,887	1,037,064
Capital expenditure	(12)	(63)	241,312
Real estate properties development completed and under development	280,032,599	266,654,891
Real estate properties held for lease	85,979,680	107,905,636	126,157,420
Total long-lived assets	97,134,292	118,812,943	139,099,651
TOTAL ASSETS	391,317,225	404,653,727	468,517,290
Real estate properties under development			307,041,456
US subsidiaries [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	27,489,898	58,007,780	23,325,750
Cost of revenue	(27,840,145)	(75,759,072)	(32,460,834)
US subsidiaries [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue			0
Cost of revenue			0
US subsidiaries [Member] \| Other Revenue [Member]
Segment reporting
Revenue			3,107,481
Cost of revenue			0
Guangdong [Member]
Segment reporting
Real estate lease income	1,926,668	1,727,356	0
Total revenue	(33,645)	37,191,781	69,189,406
Cost of real estate lease income	(1,213,136)	(6,023,790)	0
Total costs of revenue	778,522	(32,748,445)	(60,760,643)
Gross profit	744,877	4,443,336	8,428,763
Operating expenses	(1,372,742)	(3,297,920)	(10,540,700)
Gain on disposal of property held for lease			0
Operating (loss) /income	(627,865)	1,145,416	(2,111,937)
Interest income	26,594	31,785	33,242
Interest expense			(358,532)
Net realized gain on short-term investments			0
Share of (loss)/gain in an equity investee	(12,199,505)	(15,920,880)	(4,010,602)
Exchange (loss) /gains			0
Other (loss) /income	129,168	99,781	(1,434,297)
(Loss) /income before income taxes	12,671,608	14,643,898	7,882,126
Income tax benefit/(expense)	(1,508,575)	(2,377,772)	(1,674,207)
Net income/(loss)	(14,180,183)	(17,021,670)	(9,556,333)
Depreciation and amortization			12,193
Capital expenditure			0
Real estate properties development completed and under development	411,898,623	395,241,531
Real estate properties held for lease			0
Total long-lived assets	22,391,243	34,008,878	53,982,579
TOTAL ASSETS	488,477,145	499,695,879	568,073,393
Real estate properties under development			398,158,018
Guangdong [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	(2,069,637)	34,659,102	68,681,906
Cost of revenue	2,229,267	(25,841,656)	(58,588,051)
Guangdong [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue			0
Cost of revenue			0
Guangdong [Member] \| Other Revenue [Member]
Segment reporting
Revenue	109,324	805,323	507,500
Cost of revenue	(237,609)	(882,999)	(2,172,592)
Hubei [Member]
Segment reporting
Real estate lease income		0	13,482
Total revenue	(11,697)	564,076	132,434
Cost of real estate lease income		0	0
Total costs of revenue	63,011	(21,408)	(25,726)
Gross profit	51,314	542,668	106,708
Operating expenses	242,080	(1,331,279)	(1,273,031)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	293,394	(788,611)	(1,166,323)
Interest income	37	78	202
Interest expense		0	0
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee		0	0
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	0
Other (loss) /income	8,686	(8,098)	1,789
(Loss) /income before income taxes	(302,117)	796,631	1,164,332
Income tax benefit/(expense)	(1,256,109)	(1,359,448)	(1,926,116)
Net income/(loss)	(953,992)	(2,156,079)	(3,090,448)
Depreciation and amortization	9,356	23,806	48,721
Capital expenditure		4,186	0
Real estate properties development completed and under development	196,266,519	191,185,397
Real estate properties held for lease		0	0
Total long-lived assets	368,241	769,742	920,192
TOTAL ASSETS	201,937,156	197,190,024	196,509,533
Real estate properties under development			190,450,736
Hubei [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	(11,697)	564,076	118,952
Cost of revenue	63,011	(21,408)	(25,726)
Hubei [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Hubei [Member] \| Other Revenue [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Liaoning [Member]
Segment reporting
Real estate lease income	10,856	0	0
Total revenue	14,825,366	381,090	35,695,076
Cost of real estate lease income		0	0
Total costs of revenue	(11,598,737)	(305,238)	(31,758,539)
Gross profit	3,226,629	75,852	3,936,537
Operating expenses	(908,802)	(2,089,948)	(4,700,371)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	2,317,827	(2,014,096)	(763,834)
Interest income	6,992	1,283	23,321
Interest expense		0	0
Net realized gain on short-term investments		0	0
Share of (loss)/gain in an equity investee		0	0
Gain on extinguishment of debt		0
Exchange (loss) /gains		0	0
Other (loss) /income	(194,969)	(1,452,134)	(46,098)
(Loss) /income before income taxes	(2,129,850)	3,464,947	786,611
Income tax benefit/(expense)	(1,353,719)	(485,277)	(1,471,006)
Net income/(loss)	776,131	(3,950,224)	(2,257,617)
Depreciation and amortization	5,090	13,918	19,401
Capital expenditure		0	17,091
Real estate properties development completed and under development	64,815,058	53,684,534
Real estate properties held for lease		0	0
Total long-lived assets	849,197	857,181	773,073
TOTAL ASSETS	72,172,008	61,041,098	69,505,369
Real estate properties under development			59,279,630
Liaoning [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	14,811,733	231,278	35,642,637
Cost of revenue	(11,578,004)	(286,074)	(31,696,836)
Liaoning [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue		0	0
Cost of revenue		0	0
Liaoning [Member] \| Other Revenue [Member]
Segment reporting
Revenue	2,777	149,812	52,439
Cost of revenue	(20,733)	(19,164)	(61,703)
Property Management [Member]
Segment reporting
Real estate lease income		0	0
Total revenue	99,400,932	101,526,864	102,078,886
Cost of real estate lease income		0	0
Total costs of revenue	(72,535,003)	(74,745,020)	(66,726,582)
Gross profit	26,865,929	26,781,844	35,352,304
Operating expenses	(19,787,513)	(9,376,483)	(8,869,355)
Gain on disposal of property held for lease		0	0
Operating (loss) /income	7,078,416	17,405,361	26,482,949
Interest income	342,602	1,449,210	2,421,863
Interest expense		(69,672)	(64,549)
Net realized gain on short-term investments	14,325	0	0
Share of (loss)/gain in an equity investee	(114,651)	(810,983)	(1,004,547)
Gain on extinguishment of debt		0
Exchange (loss) /gains	170,555	(699,044)	(203,338)
Other (loss) /income	261,501	881,696	942,072
(Loss) /income before income taxes	(7,752,748)	(18,156,568)	(28,574,450)
Income tax benefit/(expense)	677,821	(1,482,371)	(4,832,629)
Net income/(loss)	8,430,569	16,674,197	23,741,821
Depreciation and amortization	326,968	533,861	526,727
Capital expenditure	367,144	8,455	668,407
Real estate properties development completed and under development		0
Real estate properties held for lease		0	0
Total long-lived assets	7,516,719	7,209,649	15,628,394
TOTAL ASSETS	148,503,161	147,478,659	176,825,788
Real estate properties under development			0
Property Management [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue		0	0
Cost of revenue	(1,583)	0	0
Property Management [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue	91,771,226	99,177,566	100,282,270
Cost of revenue	(68,985,669)	(73,471,668)	(65,948,453)
Property Management [Member] \| Other Revenue [Member]
Segment reporting
Revenue	7,629,706	2,349,298	1,796,616
Cost of revenue	(3,547,751)	(1,273,352)	(778,129)
Others [Member]
Segment reporting
Real estate lease income	12,631	28,366	58,559
Total revenue	52,640	28,366	58,559
Cost of real estate lease income	(53,959)	(49,559)	(19,090)
Total costs of revenue	(54,199)	(49,559)	(19,090)
Gross profit	(1,559)	(21,193)	39,469
Operating expenses	(6,334,754)	(12,111,766)	(24,468,860)
Gain on disposal of property held for lease		488,401	(18,651,259)
Operating (loss) /income	(6,336,313)	(11,644,558)	(43,080,650)
Interest income	2,598,127	2,170,212	5,619,160
Interest expense	(104,540,543)	(96,997,436)	(111,922,753)
Net realized gain on short-term investments	(7,640,422)	(71,675,917)	(30,203,357)
Share of (loss)/gain in an equity investee	(1,122,574)	(9,499,870)	(18,600,648)
Gain on extinguishment of debt	169,932,886	9,620,914
Exchange (loss) /gains	3,884,579	(5,149,023)	10,659,367
Other (loss) /income	462,346	(800,566)	1,612,626
(Loss) /income before income taxes	(57,238,086)	183,976,244	185,916,255
Income tax benefit/(expense)	(2,766,009)	(1,135,690)	1,204,203
Net income/(loss)	54,472,077	(185,111,934)	(184,712,052)
Depreciation and amortization	1,107,229	853,960	1,660,151
Capital expenditure		0	(3,869,649)
Real estate properties development completed and under development	15,021,114	33,627,793
Real estate properties held for lease	200,207	258,162	380,197
Total long-lived assets	26,942,231	20,599,425	77,178,239
TOTAL ASSETS	70,329,054	106,845,365	262,390,923
Real estate properties under development			33,690,834
Others [Member] \| Real Estate Sales [Member]
Segment reporting
Revenue	40,008	0	0
Cost of revenue	(240)	0	0
Others [Member] \| Real Estate Management Services Income [Member]
Segment reporting
Revenue	$ 1	0	0
Cost of revenue		0	0
Others [Member] \| Other Revenue [Member]
Segment reporting
Revenue		0	0
Cost of revenue		$ 0	$ 0

Equity (Details) - USD ($)	12 Months Ended
Equity (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Equity
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value per share	$ 0.0001	$ 0.0001
Amount of dividends distributed	$ 0
Proceeds from issuance of common shares	$ 1,595,830
Stock Repurchased During Period, Shares	5,756,200
Stock Repurchased During Period, Value	$ 793,123
Central Plains Ltd
Equity
Common shares, issued	11,398,784
Common shares, per share	$ 0.14
Proceeds from issuance of common shares	$ 1,595,830

Summary of significant accounting policies - Effect of change in estimate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of significant accounting policies
Gross profit	$ 132,465,356	$ 71,956,108	$ 67,936,916
Net income loss	$ 40,282,025	$ (263,353,561)	$ (417,307,378)
Basic	$ 0.38	$ (2.44)	$ (3.89)
Diluted	$ 0.38	$ (2.44)	$ (3.89)
Contracts Accounted for under Percentage of Completion [Member] \| Certain Real Estate Development Projects [Member]
Summary of significant accounting policies
Gross profit	$ (104,800,000)	$ (55,300,000)	$ (265,300,000)
Net income loss	$ (78,600,000)	$ (41,500,000)	$ (199,000,000.0)
Basic	$ (0.74)	$ (0.38)	$ (1.85)
Diluted	$ (0.74)	$ (0.38)	$ (1.85)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Income taxes - Income Tax Expense (Detail) - USD ($)	12 Months Ended
Income taxes - Income Tax Expense (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
CIT tax (benefit)/expense	$ 75,387,486	$ 42,948,974	$ 15,227,110
Land Appreciation Tax ("LAT") expense	70,422,049	26,862,350	39,101,310
Deferred tax expense/(benefit)	(90,534,084)	(60,569,862)	(61,608,948)
Income tax expense/(benefit)	$ 55,275,451	$ 9,241,462	$ (7,280,528)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Long-term bank loans - Maturities of Long-term Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less: current portion of long-term bank loans	$ (410,969,547)	$ (443,970,822)
Total long-term bank loans	152,088,997	$ 146,603,073
Long Term Bank Loan [Member]
Debt Instrument [Line Items]
2024	410,969,547
2025	98,711,369
2026	23,727,918
2027	5,788,753
2028 and thereafter	$ 23,860,957

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Segment reporting

12 Months Ended

Dec. 31, 2023

Segment reporting

Segment reporting

20. Segment reporting

The Group’s long-lived assets and revenue are mainly located in and derived from PRC. Starting in 2012, a relatively smaller portion of the Group’s long-lived assets and revenue are located in and derived from the United States. The Group considers that each of its individual property developments is a discrete operating segment. The Group has aggregated its segments on a geographical basis as property development projects undertaken within a region having similar expected economic characteristics, type of properties offered, customers and market and regulatory environment. The Group’s reportable operating segments are comprised of Henan Region, Shandong Region, Shanghai Region (including Shanghai and Jiangsu Province), Sichuan Region, Beijing Region (including Beijing and Tianjin), Hainan Region, Hunan Region, Shaanxi Region, Guangdong Region, Hubei Region, and Liaoning Region in the PRC and the United States.

Each geographic operating segment is principally engaged in the construction and development of residential real estate units. The “property management” category relates to property management services. The “other” category relates to investment holdings, landscaping, engineering and management, real estate sale, purchase and lease activities. The accounting policies of the various segments are the same as those described in Note 2, “Summary of Significant Accounting Policies.”

The Group’s chief operating decision maker relies upon net sales, gross profit and net income when making decisions about allocating resources and assessing performance of the Group. Net sales for geographic segments are generally based on the location of the project development. Net income for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Capital expenditures for each segment includes cost for acquisition of subsidiaries, vehicles, and fixtures and furniture.

No single customer accounted for more than 10% of net sales for the years ended December 31, 2021, 2022 and 2023.

Summary information by operating segment is as follows:


December 31, 2021	Henan	Shandong	Shanghai	Sichuan	Beijing	Hainan	Hunan	Shaanxi	United States	Guangdong	Hubei	Liaoning	Property Management	Others	Consolidated
	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$
Net real estate sales	338,195,148	174,353,777	135,072,403	128,609,911	313,960,495	—	8,271,910	166,007,116	23,325,750	68,681,906	118,952	35,642,637	—	—	1,392,240,005
Real estate lease income	9,344,804	665,170	1,339,557	532,240	371,919	—	1,223,472	3,251,637	2,980,504	—	13,482	—	—	58,559	19,781,344
Real estate management services income	6,746,892	—	—	—	—	—	—	2,793,044	—	—	—	—	100,282,270	—	109,822,206
Other revenue	2,851,496	16,356	2,030,340	121,935	2,851,344	413	838,306	—	3,107,481	507,500	—	52,439	1,796,616	—	14,174,226

Total revenue	357,138,340	175,035,303	138,442,300	129,264,086	317,183,758	413	10,333,688	172,051,797	29,413,735	69,189,406	132,434	35,695,076	102,078,886	58,559	1,536,017,781
Cost of real estate sales	(369,888,568)	(176,289,676)	(125,086,848)	(163,249,870)	(250,046,777)	—	(9,214,046)	(142,797,184)	(32,460,834)	(58,588,051)	(25,726)	(31,696,836)	—	—	(1,359,344,416)
Cost of real estate lease income	(15,658,378)	(611,378)	(193,442)	(404,647)	(542,152)	—	(1,206,177)	(62,840)	(3,740,076)	—	—	—	—	(19,090)	(22,438,180)
Cost of real estate management services	(3,708,523)	—	—	—	—	—	—	(4,321,229)	—	—	—	—	(65,948,453)	—	(73,978,205)
Other costs	(1,320,332)	(16,170)	(111,927)	(1,354,318)	(5,762,646)	—	(742,247)	—	—	(2,172,592)	—	(61,703)	(778,129)	—	(12,320,064)

Total cost of revenue	(390,575,801)	(176,917,224)	(125,392,217)	(165,008,835)	(256,351,575)	—	(11,162,470)	(147,181,253)	(36,200,910)	(60,760,643)	(25,726)	(31,758,539)	(66,726,582)	(19,090)	(1,468,080,865)
Gross profit	(33,437,461)	(1,881,921)	13,050,083	(35,744,749)	60,832,183	413	(828,782)	24,870,544	(6,787,175)	8,428,763	106,708	3,936,537	35,352,304	39,469	67,936,916
Operating expenses	(67,226,888)	(10,880,365)	(19,136,811)	(8,500,877)	(80,605,508)	(310,883)	(1,059,651)	(9,182,945)	(7,223,166)	(10,540,700)	(1,273,031)	(4,700,371)	(8,869,355)	(24,468,860)	(253,979,411)
Impairment losses on goodwill and intangible assets	—	—	—	—	—	—	—	—	—	—	—	—	—	(18,651,259)	(18,651,259)

Operating (loss) /income	(100,664,349)	(12,762,286)	(6,086,728)	(44,245,626)	(19,773,325)	(310,470)	(1,888,433)	15,687,599	(14,010,341)	(2,111,937)	(1,166,323)	(763,834)	26,482,949	(43,080,650)	(204,693,754)
Interest income	18,709,958	(126,051)	348,282	728,264	249,117	25,957	7,576	254,323	1,610	33,242	202	23,321	2,421,863	5,619,160	28,296,824
Interest expense	(12,070,505)	(5,794,489)	(910,853)	(26,416,301)	(2,078,190)	—	—	(8,046,152)	(15,736,448)	(358,532)	—	—	(64,549)	(111,922,753)	(183,398,772)
Net realized loss on short-term investments	—	—	—	—	—	—	—	—	—	—	—	—	—	(30,203,357)	(30,203,357)
Share of (loss)/gain in an equity investee	1,090,507	(1,873,472)	1,052,997	—	—	—	—	—	—	(4,010,602)	—	—	(1,004,547)	(18,600,648)	(23,345,765)
Exchange (loss) /gains	(20,163,471)	—	(21)	—	—	—	—	—	—	—	—	—	(203,338)	10,659,367	(9,707,463)
Other (loss) /income	(2,110,256)	3,336,726	144,617	138,413	(644,101)	(36,650)	205,877	381,157	17,770	(1,434,297)	1,789	(46,098)	942,072	1,612,626	2,509,645

(Loss) /income before income taxes	(115,208,116)	(17,219,572)	(5,451,706)	(69,795,250)	(22,246,499)	(321,163)	(1,674,980)	8,276,927	(29,727,409)	(7,882,126)	(1,164,332)	(786,611)	28,574,450	(185,916,255)	(420,542,642)
Income tax benefit/(expense)	43,657,150	(3,885,809)	(4,274,715)	12,936,548	(21,349,169)	1,431,319	(3,023,380)	(9,366,699)	(144,962)	(1,674,207)	(1,926,116)	(1,471,006)	(4,832,629)	1,204,203	7,280,528

Net income/(loss)	(71,550,966)	(21,105,381)	(9,726,421)	(56,858,702)	(43,595,668)	1,110,156	(4,698,360)	(1,089,772)	(29,872,371)	(9,556,333)	(3,090,448)	(2,257,617)	23,741,821	(184,712,052)	(413,262,114)

Depreciation and amortization	6,842,628	914,765	198,149	1,130,049	3,942,986	—	—	1,934,681	1,037,064	12,193	48,721	19,401	526,727	1,660,151	18,267,515
Capital expenditure	1,965,626	—	—	5,261	1,076,187	—	—	576	241,312	—	—	17,091	668,407	(3,869,649)	104,811
Real estate properties completed and under development	909,477,150	116,698,109	105,042,744	527,858,832	173,273,166	—	3,312,065	45,339,962	307,041,456	398,158,018	190,450,736	59,279,630	—	33,690,834	2,869,622,702
Real estate properties held for lease	72,022,044	4,133,570	36,147,355	36,470,962	8,510,518	—	59,903,607	96,574,698	126,157,420	—	—	—	—	380,197	440,300,371

Total long-lived assets	431,132,864	517,720,952	138,953,401	49,540,764	46,722,553	5,813,925	75,895,086	107,098,269	139,099,651	53,982,579	920,192	773,073	15,628,394	77,178,239	1,660,459,942
Total assets	2,279,523,193	416,680,530	600,814,871	710,687,239	313,031,361	11,747,496	82,923,478	289,048,826	468,517,290	568,073,393	196,509,533	69,505,369	176,825,788	262,390,923	6,446,279,290


December 31, 2022	Henan	Shandong	Shanghai	Sichuan	Beijing	Hainan	Hunan	Shaanxi	United States	Guangdong	Hubei	Liaoning	Property Management	Others	Consolidated
	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$
Net real estate sales	133,906,983	152,896,390	3,056,829	93,804,069	142,331,456	—	(1,058,911)	191,013,871	58,007,780	34,659,102	564,076	231,278	—	—	809,412,923
Real estate lease income	7,268,773	1,530,316	2,080,042	416,589	177,246	—	1,162,618	2,349,797	4,041,509	1,727,356	—	—	—	28,366	20,782,612
Real estate management services income	4,448,994	—	—	—	—	—	—	1,833,511	—	—	—	—	99,177,566	—	105,460,071
Other revenue	7,894,262	8,316	552,228	(35,831)	1,727,882	—	904,831	446	—	805,323	—	149,812	2,349,298	—	14,356,567
Total revenue	153,519,012	154,435,022	5,689,099	94,184,827	144,236,584	—	1,008,538	195,197,625	62,049,289	37,191,781	564,076	381,090	101,526,864	28,366	950,012,173
Cost of real estate sales	(134,259,620)	(171,319,778)	(7,306,487)	(87,599,735)	(110,230,204)	—	943,112	(156,675,331)	(75,759,072)	(25,841,656)	(21,408)	(286,074)	—	—	(768,356,253)
Cost of real estate lease income	(9,680,982)	(852,927)	(778,313)	(219,502)	(365,600)	—	(363,485)	128,004	(2,081,799)	(6,023,790)	—	—	—	(49,559)	(20,287,953)
Cost of real estate management services	(5,631,437)	—	3,188,299	—	—	—	—	(3,694,930)	—	—	—	—	(73,471,668)	—	(79,609,736)
Other costs	(1,031,030)	—	617,889	(924,057)	(5,578,881)	—	(710,529)	—	—	(882,999)	—	(19,164)	(1,273,352)	—	(9,802,123)
Total cost of revenue	(150,603,069)	(172,172,705)	(4,278,612)	(88,743,294)	(116,174,685)	—	(130,902)	(160,242,257)	(77,840,871)	(32,748,445)	(21,408)	(305,238)	(74,745,020)	(49,559)	(878,056,065)
Gross profit	2,915,943	(17,737,683)	1,410,487	5,441,533	28,061,899	—	877,636	34,955,368	(15,791,582)	4,443,336	542,668	75,852	26,781,844	(21,193)	71,956,108
Operating expenses	(11,698,488)	(13,408,341)	(3,366,711)	(3,728,249)	(42,774,682)	(47,094)	(1,242,859)	(5,165,593)	(17,406,597)	(3,297,920)	(1,331,279)	(2,089,948)	(9,376,483)	(12,111,766)	(127,046,010)
Gain on disposal of property held for lease	2,650,215	397,708	2,150,988	—	—	—	—	—	—	—	—	—	—	488,401	5,687,312
Operating income/(loss)	(6,132,330)	(30,748,316)	194,764	1,713,284	(14,712,783)	(47,094)	(365,223)	29,789,775	(33,198,179)	1,145,416	(788,611)	(2,014,096)	17,405,361	(11,644,558)	(49,402,590)
Interest income	1,602,637	280,967	656,403	250,397	1,093,214	145	3,073	667,222	701	31,785	78	1,283	1,449,210	2,170,212	8,207,327
Interest expense	(13,389,344)	(1,818,414)	(99,438)	(24,130,024)	(962,042)	—	—	(4,726,423)	(15,815,618)	—	—	—	(69,672)	(96,997,436)	(158,008,411)
Net realized gain on short-term investments	—	—	—	—	463	—	—	—	—	—	—	—	—	(71,675,917)	(71,675,454)
Share of (loss) /gain in an equity investee	(3,718,820)	—	3,784,015	—	—	—	—	—	—	(15,920,880)	—	—	(810,983)	(9,499,870)	(26,166,538)
Gain on extinguishment of debt	—	—	—	—	—	—	—	—	—	—	—	—	—	9,620,914	9,620,914
Exchange gains	45,800,405	—	—	—	—	—	—	—	—	—	—	—	(699,044)	(5,149,023)	39,952,338
Other income/(expense)	(1,587,295)	17,236	(19,220)	277,819	420,916	325	187,576	49,144	(36,029)	99,781	(8,098)	(1,452,134)	881,696	(800,566)	(1,968,849)
Income/(loss) before income taxes	22,575,253	(32,268,527)	4,516,524	(21,888,524)	(14,160,232)	(46,624)	(174,574)	25,779,718	(49,049,125)	(14,643,898)	(796,631)	(3,464,947)	18,156,568	(183,976,244)	(249,441,263)
Income tax benefit/(expense)	(12,780,775)	22,127,223	(3,927,044)	(2,443,468)	(4,379,784)	463	174,167	(2,378,418)	1,206,732	(2,377,772)	(1,359,448)	(485,277)	(1,482,371)	(1,135,690)	(9,241,462)
Net income/(loss)	9,794,478	(10,141,304)	589,480	(24,331,992)	(18,540,016)	(46,161)	(407)	23,401,300	(47,842,393)	(17,021,670)	(2,156,079)	(3,950,224)	16,674,197	(185,111,934)	(258,682,725)
Depreciation and amortization	5,516,725	874,640	647,400	1,095,409	1,162,790	—	—	1,832,811	612,887	—	23,806	13,918	533,861	853,960	13,168,207
Capital expenditure	5,221,417	803	—	—	1,577	—	—	—	(63)	—	4,186	—	8,455	—	5,236,375
Real estate properties completed and under development	1,159,231,389	412,162,579	100,867,987	577,969,652	45,945,861	—	4,995,367	35,489,672	266,654,891	395,241,531	191,185,397	53,684,534	—	33,627,793	3,277,056,653
Real estate properties held for lease	48,958,513	2,434,604	32,354,424	32,786,449	7,676,329	—	54,293,887	86,799,863	107,905,636	—	—	—	—	258,162	373,467,867

Total long-lived assets	386,224,257	13,434,007	133,703,563	49,512,464	24,828,219	5,774,972	68,720,346	96,615,555	118,812,943	34,008,878	769,742	857,181	7,209,649	20,599,425	961,071,201
Total assets	2,270,506,759	259,228,051	540,587,961	709,048,905	240,590,331	11,212,039	78,448,652	323,750,877	404,653,727	499,695,879	197,190,024	61,041,098	147,478,659	106,845,365	5,850,278,327


December 31, 2023	Henan	Shandong	Shanghai	Sichuan	Beijing	Hainan	Hunan	Shaanxi	United States	Guangdong	Hubei	Liaoning	Property Management	Others	Consolidated
	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$	US$

Net real estate sales	152,591,635	89,069,287	11,669,658	147,542,499	107,053,837	—	627,881	109,258,071	27,489,898	(2,069,637)	(11,697)	14,811,733	—	40,008	658,073,173
Real estate lease income	29,274,568	1,009,694	1,511,669	397,685	86,982	—	(3,735,823)	2,640,636	4,082,885	1,926,668	—	10,856	—	12,631	37,218,451
Real estate management services income	1,538,767	—	—	156,324	—	—	—	210,556	—	—	—	—	91,771,226	1	93,676,874
Other revenue	7,909,151	—	(286,625)	277,249	(509,601)	—	873,996	—	—	109,324	—	2,777	7,629,706	—	16,005,977
Total revenue	191,314,121	90,078,981	12,894,702	148,373,757	106,631,218	—	(2,233,946)	112,109,263	31,572,783	(33,645)	(11,697)	14,825,366	99,400,932	52,640	804,974,475
Cost of real estate sales	(163,057,353)	(82,219,415)	(9,614,743)	(133,082,218)	(64,969,677)	—	7,156,894	(74,748,589)	(27,840,145)	2,229,267	63,011	(11,578,004)	(1,583)	(240)	(557,662,795)
Cost of real estate lease income	(23,817,603)	(240,837)	(780,902)	(697,495)	(183,762)	—	(667,817)	(2,861,696)	(3,403,014)	(1,213,136)	—	—	—	(53,959)	(33,920,221)
Cost of real estate management services	(2,749,635)	—	—	(340,884)	—	—	—	(233,866)	—	—	—	—	(68,985,669)	—	(72,310,054)
Other costs	(1,701,411)	—	695,476	(12,739)	(3,076,605)	—	(714,677)	—	—	(237,609)	—	(20,733)	(3,547,751)	—	(8,616,049)
Total cost of revenue	(191,326,002)	(82,460,252)	(9,700,169)	(134,133,336)	(68,230,044)	—	5,774,400	(77,844,151)	(31,243,159)	778,522	63,011	(11,598,737)	(72,535,003)	(54,199)	(672,509,119)
Gross profit	(11,881)	7,618,729	3,194,533	14,240,421	38,401,174	—	3,540,454	34,265,112	329,624	744,877	51,314	3,226,629	26,865,929	(1,559)	132,465,356
Operating expenses	(12,866,682)	(5,303,199)	(2,607,527)	(2,561,480)	(21,019,160)	(57,945)	(336,874)	(2,428,759)	(8,828,446)	(1,372,742)	242,080	(908,802)	(19,787,513)	(6,334,754)	(84,171,803)
Gain on disposal of property held for lease	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating income/(loss)	(12,878,563)	2,315,530	587,006	11,678,941	17,382,014	(57,945)	3,203,580	31,836,353	(8,498,822)	(627,865)	293,394	2,317,827	7,078,416	(6,336,313)	48,293,553
Interest income	6,059	142,181	200,827	131,341	98,485	2	1,918	1,221,974	2,175	26,594	37	6,992	342,602	2,598,127	4,779,314
Interest expense	(12,434,185)	(7,249,071)	—	(18,543,629)	—	—	—	(5,347,808)	(28,825,082)	—	—	—	—	(104,540,543)	(176,940,318)
Net realized gain on short-term investments	—	—	—	—	—	—	—	—	—	—	—	—	14,325	(7,640,422)	(7,626,097)
Share of (loss) /gain in an equity investee	(7,847,367)	—	3,370,027	—	—	—	—	—	—	(12,199,505)	—	—	(114,651)	(1,122,574)	(17,914,070)
Gain on extinguishment of debt	—	—	—	—	—	—	—	—	—	—	—	—	—	169,932,886	169,932,886
Gain on modification of debt	—	—	—	26,372,965	—	—	—	—	—	—	—	—	—	—	26,372,965
Exchange gains	9,426,923	—	—	—	—	—	—	—	—	—	—	—	170,555	3,884,579	13,482,057
Other income/(expense)	3,670,566	2,845,027	4,937,780	(227,508)	30,951	(4,453)	(2,898)	(84,792)	13,595,467	129,168	8,686	(194,969)	261,501	462,346	25,426,872
Income/(loss) before income taxes	(20,056,567)	(1,946,333)	9,095,640	19,412,110	17,511,450	(62,396)	3,202,600	27,625,727	(23,726,262)	(12,671,608)	302,117	2,129,850	7,752,748	57,238,086	85,807,162
Income tax benefit/(expense)	14,814,458	792,277	(12,047,878)	(17,481,633)	(22,171,296)	3,275	(4,364,673)	(7,872,323)	(741,067)	(1,508,575)	(1,256,109)	(1,353,719)	677,821	(2,766,009)	(55,275,451)
Net income/(loss)	(5,242,109)	(1,154,056)	(2,952,238)	1,930,477	(4,659,846)	(59,121)	(1,162,073)	19,753,404	(24,467,329)	(14,180,183)	(953,992)	776,131	8,430,569	54,472,077	30,531,711
Depreciation and amortization	4,136,037	274,482	603,524	598,078	2,050,750	—	—	1,755,174	11,639,957	—	9,356	5,090	326,968	1,107,229	22,506,645
Capital expenditure	3,353	627	—	—	1,825	—	—	—	(12)	—	—	—	367,144	—	372,937
Real estate properties completed and under development	1,207,782,937	394,558,791	102,589,027	503,780,381	65,449,973	—	11,872,490	53,897,457	280,032,599	411,898,623	196,266,519	64,815,058	—	15,021,114	3,307,964,969
Real estate properties held for lease	45,427,310	(6,129,675)	29,843,420	31,649,101	4,749,926	—	47,061,528	83,770,504	85,979,680	—	—	—	—	200,207	322,552,001

Total long-lived assets	286,787,108	15,081,225	137,469,838	53,134,953	25,002,494	5,732,976	67,126,463	94,644,226	97,134,292	22,391,243	368,241	849,197	7,516,719	26,942,231	840,181,206
Total assets	2,089,109,648	201,589,676	513,329,822	600,165,262	223,190,269	11,064,860	81,359,058	240,848,887	391,317,225	488,477,145	201,937,156	72,172,008	148,503,161	70,329,054	5,333,393,231

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

(Loss)/income per share (Tables)

12 Months Ended

Dec. 31, 2023

(Loss)/income per share

Schedule of Basic and diluted net loss per share


	December 31,
	2021	2022	2023
	US$	US$	US$
Numerator:
Net (loss)/income attributable to Xinyuan Real Estate Co., Ltd. Shareholders - basic and diluted	(417,307,378)	(263,353,561)	40,282,025
Denominator:
Weighted average number of shares outstanding-basic*	107,283,420	107,849,225	106,686,376
Stock options	—	—	—
Restricted stock units	—	—	—
Weighted average number of shares outstanding-diluted	107,283,420	107,849,225	106,686,376
Basic (loss)/income per share	(3.89)	(2.44)	0.38
Diluted (loss)/income per share	(3.89)	(2.44)	0.38

The restricted shares repurchased by the trustee that are unvested are excluded from the number of shares outstanding for purposes of computing basic earnings per share in accordance with ASC 260. However, these unvested restricted shares are factored into the computation of diluted earnings per share using the treasury stock method.

Related party and employee transactions (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Related Party Transactions

(a)	Amounts due from related parties


	December 31,	December 31,
	2022	2023
	US$	US$
Current:
Henan Hongguang Olympic Real Estate Co., Ltd.	87,047,162	85,595,700
Qingdao Huiju	—	—
Guangzhou Huanglong Information Technology Co., Ltd.	29,937,746	27,153,613
Xinzheng Meihang Network Technology Co., Ltd.	—	—
Madison Development Limited	8,539,686	3,689,595
Suzhou Wanzhuo's non-controlling interest holders	29,323,571	28,834,616
Taicang Pengchi's non-controlling interest holders	23,892,970	23,494,569
Suzhou Rongjingchen Real Estate Co., Ltd.	20,269,362	19,931,382
Others	4,708,561	3,927,036
Total current amounts due from related parties	203,719,058	192,626,511

Non current:
Xinzheng Meihang Network Technology Co., Ltd.	1,065,531	1,047,764
Suzhou Yefang’s non-controlling interest holders	11,485,225	11,293,716
Others	2,505,528	2,463,750
Total non-current amounts due from related parties	15,056,284	14,805,230
Total	218,775,342	207,431,741

(b) Amounts due to related parties


	December 31,	December 31,
	2022	2023
	US$	US$
Current:
Suzhou Yefang’s non-controlling interest holders	1,538,601	1,512,945
Suzhou Wanzhuo's non-controlling interest shareholders	2,711,240	2,666,033
Xinzheng Meihang Network Technology Co., Ltd.	—	—
Henan Qingning Apartment Management Co., Ltd.	9,984,106	9,707,534
Suzhou Kairongchen Real Estate Co., Ltd.	41,190,880	40,504,045
Others	11,195,093	18,519,868
Total current amounts due to related parties	66,619,920	72,910,425
Non current:
Henan Qingning Apartment Management Co., Ltd.	—	—
Total	66,619,920	72,910,425


	December 31,	December 31,
	2022	2023
	US$	US$
Advances to employees	1,466,055	1,038,494

Share-based compensation - Equity Incentive Plan, 2007 Long Term Incentive Plan, 2015 Long Term Incentive Plan and 2014 Restricted Stock Unit Plan and 2020 Restricted Stock Unit Plan (Details)												1 Months Ended	12 Months Ended
	Dec. 31, 2019 shares	Aug. 30, 2019 USD ($)	Dec. 31, 2018 shares	Jul. 30, 2018 USD ($)	Dec. 31, 2017 shares	Jul. 27, 2017 USD ($)	Apr. 18, 2016 USD ($) shares	Jul. 29, 2015 USD ($) employee $ / shares shares	Jul. 01, 2015 USD ($) employee $ / shares shares	Apr. 10, 2015 USD ($) shares	May 23, 2014 USD ($) shares	Nov. 30, 2007 $ / shares shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Jun. 30, 2020 shares	Jun. 30, 2015 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Value of shares repurchased \| $													$ 793,123
Shares repurchased													5,756,200
2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted													0	0
2007 Plan [Member] \| Service Condition Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for plan												36 months
2007 Plan [Member] \| Minimum [Member] \| Service Condition Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of options granted \| $ / shares												$ 1.085
Weighted-average fair value of options granted \| $ / shares												$ 0.36
2007 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares authorized												10,000,000
2007 Plan [Member] \| Maximum [Member] \| Service Condition Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of options granted \| $ / shares												$ 1.81
Weighted-average fair value of options granted \| $ / shares												$ 0.61
2014 RSU Plan [member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for plan	3 years		3 years		3 years		3 years			3 years	3 years
Value of shares repurchased \| $		$ 2,912,539		$ 3,976,660		$ 3,485,952	$ 4,003,999			$ 3,259,998	$ 7,042,725
Shares repurchased	1,438,076		1,732,466		0		1,614,220			2,076,964	4,234,884
Number of shares granted													0	0	0
2014 RSU Plan [member] \| Maximum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares authorized											10,000,000
On July 27,2017 for 2014 RSU Plan [member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased			1,356,584
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted													0	0
2015 Plan [Member] \| Service Condition Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted								81,600	6,574,600
Option granted, number of employees \| employee								1	22
Exercise price of options granted \| $ / shares								$ 1.71	$ 1.71
Weighted-average fair value of options granted \| $ / shares								$ 0.42	$ 0.48
Total expected compensation cost, net of expected forfeitures \| $								$ 34,294	$ 3,165,867
Vesting period for plan								33 months	34 months
Stock options granted, expiration date								Jul. 29, 2025	Jul. 01, 2025
2015 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares authorized																	20,000,000
2020 RSU Plan [Member] \| Maximum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares authorized																10,000,000

Other receivables (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real estate properties held for lease, net member
Other receivables
Total	$ 378,656,298	$ 383,513,125
Henan Derun Real Estate Co. Ltd ("Henan Derun")
Other receivables
Total	140,261,069	142,448,841
Zhengzhou Yongzhi Jianxin Meiyu Private Equity Fund ("Zhengzhou Yongzhi")
Other receivables
Total	22,590,255	22,973,322	$ 22,590,255
Due from contractors
Other receivables
Total	23,571,115	17,253,823
Due from Zijin Royal Palace
Other receivables
Total	44,025,880	45,163,449
Others
Other receivables
Total	$ 148,207,979	$ 155,673,690

Real estate properties held for lease, net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real estate properties held for lease, net
Total costs	$ 393,821,174	$ 428,763,657
Accumulated depreciation	(71,269,173)	(55,295,790)
Real estate properties held for lease, net	322,552,001	373,467,867	$ 440,300,371
Depreciation expense	$ 11,227,812	7,709,696
Minimum
Real estate properties held for lease, net
Remaining lease periods	25 days
Maximum
Real estate properties held for lease, net
Remaining lease periods	20 years
Pledged as collateral
Real estate properties held for lease, net
Real estate properties held for lease, net	$ 278,724,872	137,103,470
Elementary schools
Real estate properties held for lease, net
Total costs	3,011,399	3,062,464
Basement parking
Real estate properties held for lease, net
Total costs	6,458,198	6,899,693
Kindergartens
Real estate properties held for lease, net
Total costs	4,104,942	4,174,550
Parking Facilities
Real estate properties held for lease, net
Total costs	55,336,381	74,803,844
Clubhouses
Real estate properties held for lease, net
Total costs	7,570,605	7,698,981
Shopping mall
Real estate properties held for lease, net
Total costs	267,753,895	258,828,780
Shopping mall equipment [Member]
Real estate properties held for lease, net
Equipment acquired under finance lease, gross	0	0
Residential properties
Real estate properties held for lease, net
Total costs	$ 49,585,754	$ 73,295,345

Property and equipment, net

12 Months Ended

Dec. 31, 2023

Property and equipment, net

Property and equipment, net

7. Property and equipment, net

Property and equipment consisted of the following:


	December 31,	December 31,
	2022	2023
	US$	US$
Corporate aircraft	36,948,606	36,332,509
Vehicles	4,235,388	4,164,765
Furniture and fixtures	8,958,370	8,690,083
Office buildings	17,708,077	17,412,804
Total	67,850,441	66,600,161
Accumulated depreciation	(39,019,330)	(41,056,802)
Property and equipment, net	28,831,111	25,543,359

On October 23, 2012, the Group acquired a corporate aircraft owned by Minsheng Financial Leasing Co. Ltd. (“Minsheng”) under a finance lease. The lease has an eight-year term and expires on September 15, 2021 with 32 quarterly lease payments of US$1,426,000. A deposit in the amount of US$6.7 million may be used as full and final payment to Minsheng to purchase the corporate aircraft. On June 15, 2020, the Group terminated the previous agreement and signed a new leaseback agreement with Minsheng. The leaseback has a three-year term and expired on July 14, 2023 with 12 quarterly lease payment of US$1,105,274. In 2023, the Group terminated the previous leaseback agreement with Minsheng and signed a new leaseback agreement with Tianjin Huaxin Funian Leasing Co., Ltd.

Depreciation expense for property and equipment for the year ended December 31, 2023 amounted to US$2,037,472 (2021: US$4,839,442; 2022: US$3,787,564).

Accumulated depreciation for property and equipment as of December 31, 2023 amounted to US$41,056,802 (2021: US$39,853,550; 2022: US$39,019,330).

Leases - lease expense (Details) - USD ($)	12 Months Ended
Leases - lease expense (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating lease cost:
Operating lease cost	$ 2,528,841	$ 3,497,729
Short-term lease cost	508,273	710,161
Finance lease cost:
Amortization of finance lease assets	0
Interest on the lease liabilities	0	69,672
Total lease cost	3,037,114	4,277,562
Supplemental cash flow information related to leases
Operating cash flows for operating leases	1,996,744	3,996,599
Operating cash flows for finance leases	0
Financing cash flows for finance leases	$ 0	$ 5,207,694

Income taxes - Deferred Tax Assets And Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Tax loss carried forward	$ 65,880,222	$ 94,579,348
Accruals and provisions	126,741,964	122,380,636
Capitalized expenses	84,831,071	78,506,854
Revenue recognition at a point in time less tax paid under deemed profit method	(32,803,744)	(28,086,617)
Revenue recognition of real estate lease income on a straight-line basis	(1,572,986)	322,923
Deemed interest expense	96,240,973	115,181,923
Operating lease liability	641,645	1,772,742
Less: Valuation allowance	(18,099,350)	(18,168,615)
Total deferred tax assets, net of valuation allowance	321,859,795	366,489,194
Deferred tax liabilities:
Revenue recognition over time	(85,213,884)	(149,855,853)
Taxable temporary differences arising from asset acquisitions	(256,323,009)	(294,617,076)
Dividend and interest withholding taxes	(44,200,493)	(46,048,264)
Operating lease right-of-use assets	(403,906)	(1,426,996)
Total deferred tax liabilities	(386,141,292)	(491,948,189)
Undistributed earnings from subsidiaries	470,000,000.0	459,500,000
Accrued deferred income tax liabilities	47,000,000.0	45,900,000
Remaining undistributed earnings	0	0
Unrecognized deferred tax liabilities	0	0
Consolidation, Eliminations [Member] \| U.S. [Member]
Deferred tax liabilities:
Net operating loss carry forwards	21,500,000	21,500,000
Net operating loss indefinite carry forward	11,200,000	11,200,000
Consolidation, Eliminations [Member] \| PRC [Member]
Deferred tax liabilities:
Net operating loss carry forwards	$ 245,500,000	$ 361,600,000
Operating loss carryforwards expiration period	20 years
Consolidation, Eliminations [Member] \| PRC [Member] \| Maximum [Member]
Deferred tax liabilities:
Operating loss carryforwards expiration period	10 years
Consolidation, Eliminations [Member] \| PRC [Member] \| Minimum [Member]
Deferred tax liabilities:
Operating loss carryforwards expiration period	1 year

Other long-term debt (Tables)

12 Months Ended

Dec. 31, 2023

Other Long-term debt

Summary of Debt instrument redemption

Mandatory Redemption Date	Required Redemption Portion
September 30, 2025	5% of the then aggregate outstanding principal amount of the September 2027 Senior Secured Notes
September 30, 2026	5% of the then aggregate outstanding principal amount of the September 2027 Senior Secured Notes

Other Long-Term Debt [Member]

Other Long-term debt

Schedule of other long-term debt


	December 31,	December 31,
	2022	2023
	US$	US$
Senior notes
June 2022 Senior notes due on June 29, 2022 at 12.00% per annum	79,646,560	72,641,789
September 2023 Senior notes due on September 17, 2023 at 14.50% per annum	249,723,695	150,030,000
October 2023 notes due on October 15, 2023 at 14.20% per annum	131,475,779	17,118,420
January 2024 notes due on January 25, 2024 at 14.00% per annum	260,540,750	153,182,000
September 2027 Senior notes due on September 30, 2027 at 3% per annum	—	232,091,202

Corporate bonds
Due November 13, 2025 at 8.35% per annum	25,257,603	24,836,447
Due January 7, 2026 at 8.35% per annum	14,049,622	13,815,353

Loan from Ping An Trust Co., Ltd
Due May 31. 2023 at 12.80% per annum	20,898,544	—

Loan from China Huarong Asset Management Co., Ltd
Due April 20, 2026 at 12.50% per annum (Due April 20, 2024 at 12.00% per annum before debt extension)	32,880,567	32,332,303
Due November 27, 2023 at 12.50% per annum	19,093,702	18,775,326

Loan from Chang An International Trust Co., Ltd
Due September 15, 2026 at 4.75% per annum (Due December 24, 2023 at 9.00% per annum before debt extension)	155,069,925	134,850,420

Loan from Min Sheng Finance Lease Co., Ltd
Due June 19, 2023 at 6.52% per annum	4,842,975	—

Loan from Tianjin Huaxin Funian Leasing Co., Ltd
Due April 6, 2025 at 8.90% per annum	—	8,034,949

Loan from Daye Trust Co., Ltd
Due August 31, 2022 at 11.50% per annum	86,149,958	84,713,457
Due October 16, 2022 at 14.50% per annum	28,716,653	28,237,819

Loan from Hubei Tian Qian Asset Management Co., Ltd
Due November 15, 2023 at 12.00% per annum	22,973,322	12,707,019

Loan from Qingdao Xifa Commercial Factoring Co., Ltd
Due June 20,2024 at 9.00% per annum (Due June 20,2023 at 9.00% per annum before debt extension)	43,074,979	44,011,465

Loan from Qingdao Haifa Finance Leasing Co., Ltd
Due January 26,2025 at 13.00% per annum (Due January 24,2024 at 9.00% per annum before debt extension)	1,952,732	1,073,037

Loan from Qingdao West Coast Small Loan Co., Ltd
Due January 26,2025 at 13.00% per annum (Due January 24,2024 at 13.00% per annum before debt extension)	4,307,498	4,235,673

Loan from Qingdao Rongfu Huijin Asset Management Co., Ltd
Due May 20,2024 at 9.00% per annum	35,895,816	35,297,274

Loan from Zhengzhou Jinshui Construction Comprehensive Development General Company
Due February 5,2026 at 2.80% to 3.00% per annum	7,753,496	15,389,611


Loan from China Development Bank Henan Branch
Due February 7,2026 at 2.80% to 3.00% per annum	85,575,625	101,839,225


Loan from Dalian Lvshunkou District State-owned Capital Investment and Operation Group Co., Ltd
Due August 31,2025 at 2.80% to 3.20% per annum	143,583	10,045,890

Loan from Ares Management
Due January 21, 2024 at Mortgage: 6.5%+Term SOFR, Mezz: 18.7%+Term SOFR per annum	82,144,392	76,685,804

Loan from Kriss Capital LLC
Due April 4, 2024 at 7.25%+Term SOFR per annum (Due April 4, 2023 at 7.25%+Term SOFR per annum before debt extension)	36,137,739	19,085,161

Loan from Mezzanine Loan
Due April 4, 2024 at 9.5%+Term SOFR per annum (Due October 4, 2023 at 9.5%+Term SOFR per annum before debt extension)	5,500,000	5,500,000

Loan from Mezzanine Loan
Due April 4, 2024 at 9.5%+Term SOFR per annum (Due October 4, 2023 at 9.5%+Term SOFR per annum before debt extension)	34,425,000	34,425,000

Total principal of other long-term debt	1,468,230,517	1,330,848,464
Less: current portion of other long-term debt	(1,209,149,107)	(854,814,983)
Total other long-term debt	259,081,410	476,033,481

Schedule of maturities

As of December 31, 2023, the contractual maturities of these debts are as follows:


Year		Amount
		US$
2024		854,814,983
2025		146,288,126
2026		97,654,153
2027		232,091,202
2028 and thereafter		—
Less: current portion of other long-term debt		(854,814,983)
Total: Other long-term debt		476,033,481

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Other long-term debt - Other Long Term Debt (Details) ¥ in Millions				12 Months Ended
	Feb. 09, 2021	Jan. 25, 2021	Sep. 17, 2020	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Other Long-term debt
Total principal of other long-term debt				$ 1,330,848,464		$ 1,468,230,517
Less: current portion of other long-term debt				(854,814,983)		(1,209,149,107)
Total other long-term debt				476,033,481		259,081,410
Other long term debt				854,814,983		1,209,149,107
Real estate properties under development				2,453,888,438		2,446,216,486	$ 2,869,622,702
Real estate properties held for lease				322,552,001		373,467,867	$ 440,300,371
Real estate properties development completed				854,076,531		830,840,167
Property and equipment, net				25,543,359		28,831,111
Collateral Pledged [Member]
Other Long-term debt
Land use rights				398,837,052		424,482,379
Real estate properties held for lease				278,724,872		137,103,470
Other Long-Term Debt [Member]
Other Long-term debt
Less: current portion of other long-term debt				(854,814,983)
Total other long-term debt				476,033,481
Other long term debt				854,814,983
Other Long-Term Debt [Member] \| RMB
Other Long-term debt
Less: current portion of other long-term debt				(802,180,290)
Other long term debt				802,180,290
Other Long-Term Debt [Member] \| Collateral Pledged [Member]
Other Long-term debt
Real estate properties under development				340,187,890		336,107,945
Land use rights				131,931,734		145,339,253
Real estate properties held for lease				107,905,636		107,905,636
Real estate properties development completed				63,709,985		54,777,898
Senior Secured Notes [Member] \| Collateral Pledged [Member] \| US Dollar
Other Long-term debt
Less: current portion of other long-term debt				(528,668,174)
Other long term debt				528,668,174
Property and equipment, net member \| Other Long-Term Debt [Member] \| Collateral Pledged [Member]
Other Long-term debt
Property and equipment, net				11,403,753		14,060,566
June 2022 Senior notes due on June 29, 2022 at 12.00%
Other Long-term debt
Total principal of other long-term debt				$ 72,641,789		79,646,560
Maturity date				Jun. 29, 2022
Stated rate				12.00%	12.00%
June 2022 Senior notes due on June 29, 2022 at 14.00% \| Other Long-Term Debt [Member]
Other Long-term debt
Total principal of other long-term debt				$ 393,000,000.0
June 2022 Senior notes due on June 29, 2022 at 14.00% \| Senior Secured Notes [Member]
Other Long-term debt
Less: current portion of other long-term debt \| ¥					¥ (545.3)
Other long term debt \| ¥					¥ 545.3
September 2023 Senior notes due on September 17, 2023 at 14.50%
Other Long-term debt
Total principal of other long-term debt				$ 150,030,000		249,723,695
Maturity date			Sep. 17, 2023	Sep. 17, 2023
Stated rate			14.50%	14.50%	14.50%
October 2023 Notes Due on October 15, 2023 at 14.20%
Other Long-term debt
Total principal of other long-term debt				$ 17,118,420		131,475,779
Maturity date				Oct. 15, 2023
Stated rate				14.20%	14.20%
January 2024 Notes Due on January 25, 2024 at 14.00%
Other Long-term debt
Total principal of other long-term debt				$ 153,182,000		260,540,750
Maturity date	Jan. 25, 2024	Jan. 25, 2024		Jan. 25, 2024
Stated rate	14.00%	14.00%		14.00%	14.00%
September 2027 Senior notes due on September 30, 2027 at 3%
Other Long-term debt
Total principal of other long-term debt				$ 232,091,202
Corporate Bonds Due On November 13 2025 At 8.35%
Other Long-term debt
Total principal of other long-term debt				$ 24,836,447		25,257,603
Maturity date				Nov. 13, 2025
Stated rate				8.35%	8.35%
Corporate Bonds Due On Januray 7, 2026 at 8.35%
Other Long-term debt
Total principal of other long-term debt				$ 13,815,353		14,049,622
Loan from Ping Trust Co. Ltd Due May 31.2023 At 12.80%
Other Long-term debt
Total principal of other long-term debt						20,898,544
Stated rate				12.80%	12.80%
China Huarong Asset Management Co., Ltd, Due April 20, 2024 at 12.00%
Other Long-term debt
Total principal of other long-term debt				$ 32,332,303
Maturity date				Apr. 20, 2024
Stated rate				12.00%	12.00%
China Huarong Asset Management Co., Ltd, Due April 20, 2026 at 12.50% [Member]
Other Long-term debt
Maturity date				Apr. 20, 2026
Stated rate				12.50%	12.50%
China Huarong Asset Management Co., Ltd, Due April 26, 2026 at 12.50%
Other Long-term debt
Total principal of other long-term debt						32,880,567
China Huarong Asset Management Co., Ltd, Due November 27, 2023 at 12.00%
Other Long-term debt
Total principal of other long-term debt				$ 18,775,326		19,093,702
Maturity date				Nov. 27, 2023
Stated rate				12.50%	12.50%
Loan from Chang 'an international trust Co., Ltd, Due December 10, 2023 at 9.00%
Other Long-term debt
Total principal of other long-term debt				$ 134,850,420		155,069,925
Loan from Changan international trust Company Ltd, Due December 24, 2023, at 9.00% [Member]
Other Long-term debt
Maturity date				Dec. 24, 2023
Stated rate				9.00%	9.00%
Loan from Changan international trust Company Ltd, Due September 15, 2026, at 4.40% [Member]
Other Long-term debt
Maturity date				Sep. 15, 2026
Stated rate				4.75%	4.75%
Loan from Min Sheng Finance Lease Co., Ltd Due June 19, 2023 at 6.52%
Other Long-term debt
Total principal of other long-term debt						4,842,975
Maturity date				Jun. 19, 2023
Stated rate				6.52%	6.52%
Loan from Tianjin Huaxin Funian Leasing Co., Ltd Due April 6, 2025 at 8.90%
Other Long-term debt
Total principal of other long-term debt				$ 8,034,949
Maturity date				Apr. 06, 2025
Stated rate				8.90%	8.90%
Loan from Daye Trust Co., Ltd Due August 31, 2022 at 11.50%
Other Long-term debt
Total principal of other long-term debt				$ 84,713,457		86,149,958
Maturity date				Aug. 31, 2022
Stated rate				11.50%	11.50%
Loan from Daye Trust Co., Ltd Due October 16, 2022 at 14.50%
Other Long-term debt
Total principal of other long-term debt				$ 28,237,819		28,716,653
Maturity date				Oct. 16, 2022
Stated rate				14.50%	14.50%
Loan from Hubei Tian Qian Asset Management Co., Ltd Due November 15, 2023 at 12.00% [Member]
Other Long-term debt
Total principal of other long-term debt				$ 12,707,019		22,973,322
Maturity date				Nov. 15, 2023
Stated rate				12.00%	12.00%
Loan from Qingdao Xifa Commercial Factoring Co., Ltd, Due June 20,2023 at 9.00%
Other Long-term debt
Total principal of other long-term debt				$ 44,011,465
Stated rate				9.00%	9.00%
Qingdao Xifa Commercial Factoring Co., Ltd, Due June 20,2024 at 9.00% [Member]
Other Long-term debt
Total principal of other long-term debt						43,074,979
Loan from Qingdao Haifa Finance Leasing Co., Ltd, Due January 24,2024 at 9.00%
Other Long-term debt
Total principal of other long-term debt				$ 1,073,037
Stated rate				9.00%	9.00%
Qingdao Haifa Finance Leasing Co., Ltd, Due January 26,2025 at 13.00% [Member]
Other Long-term debt
Total principal of other long-term debt						1,952,732
Stated rate				13.00%	13.00%
Qingdao West Coast Small Loan Co., Ltd, Due January 24,2024 at 13.00%
Other Long-term debt
Total principal of other long-term debt				$ 4,235,673
Stated rate				13.00%	13.00%
Qingdao West Coast Small Loan Co., Ltd, Due January 26,2025 at 13.00%
Other Long-term debt
Total principal of other long-term debt						4,307,498
Stated rate				13.00%	13.00%
Loan from Qingdao Rongfu Huijin Asset Management Co., Ltd, Due May 20,2024 at 9.00%
Other Long-term debt
Total principal of other long-term debt				$ 35,297,274		35,895,816
Stated rate				9.00%	9.00%
Loan from Zhengzhou Jinshui Construction Comprehensive Development General Company, Due August 30,2025 at 2.80% to 3.00% per annum
Other Long-term debt
Total principal of other long-term debt				$ 15,389,611		7,753,496
Loan from Zhengzhou Jinshui Construction Comprehensive Development General Company, Due August 30,2025 at 2.80% to 3.00% per annum \| Minimum [Member]
Other Long-term debt
Stated rate				2.80%	2.80%
Loan from Zhengzhou Jinshui Construction Comprehensive Development General Company, Due August 30,2025 at 2.80% to 3.00% per annum \| Maximum [Member]
Other Long-term debt
Stated rate				3.00%	3.00%
Loan from China Development Bank Henan Branch, Due August 30,2025 at 2.80% to 7.00% per annum \| Minimum [Member]
Other Long-term debt
Stated rate				2.80%	2.80%
Loan from China Development Bank Henan Branch, Due August 30,2025 at 2.80% to 7.00% per annum \| Maximum [Member]
Other Long-term debt
Stated rate				3.00%	3.00%
China Development Bank Henan Branch, Due February 7,2026 at 2.80% to 7.00%
Other Long-term debt
Total principal of other long-term debt				$ 101,839,225		85,575,625
Loan from Dalian Lvshunkou District State-owned Capital Investment and Operation Group Co., Ltd, Due August 30,2025 at 2.80% to 3.20% per annum \| Minimum [Member]
Other Long-term debt
Stated rate				2.80%	2.80%
Loan from Dalian Lvshunkou District State-owned Capital Investment and Operation Group Co., Ltd, Due August 30,2025 at 2.80% to 3.20% per annum \| Maximum [Member]
Other Long-term debt
Stated rate				3.20%	3.20%
Loan from Ares Management Due January 12, 2024 at 10.05%
Other Long-term debt
Total principal of other long-term debt				$ 76,685,804		82,144,392
Loan from Kriss Capital LLC, Due April 4, 2023 at 7.50%
Other Long-term debt
Total principal of other long-term debt				$ 19,085,161		36,137,739
Maturity date				Apr. 04, 2024
Stated rate				7.25%	7.25%
Loan from Mezzanine Loan, Due October 4, 2023 at 10.30%, One
Other Long-term debt
Total principal of other long-term debt				$ 5,500,000		5,500,000
Loan from Mezzanine Loan, Due October 4, 2023 at 10.30%, Two
Other Long-term debt
Total principal of other long-term debt				34,425,000		34,425,000
Dalian Lvshunkou District State-owned Capital Investment and Operation Group Co., Ltd, Due August 31,2025 at 2.80% to 3.00% per annum
Other Long-term debt
Total principal of other long-term debt				$ 10,045,890		$ 143,583
Loan From Ares Management , Mortgage Loan Due January 21 2024 At 6.5%
Other Long-term debt
Maturity date				Jan. 21, 2024
Stated rate				6.50%	6.50%
Loan From Ares Management , Mezzanine Loan Due January 21 2024 At 18.7%
Other Long-term debt
Stated rate				18.70%	18.70%
Loan From Kriss Capital LLC, Due April 4, 2024 At 7.25% Per Annum
Other Long-term debt
Maturity date				Apr. 04, 2023
Stated rate				7.25%	7.25%
Mezzanine Loan, Due April 4 2024 At 9.5% Per Annum, One
Other Long-term debt
Maturity date				Apr. 04, 2024
Stated rate				9.50%	9.50%
Mezzanine Loan, Due October 4 2023 At 9.5% Per Annum, Before Debt Extension, One
Other Long-term debt
Maturity date				Oct. 04, 2023
Stated rate				9.50%	9.50%
Mezzanine Loan, Due April 4 2024 At 9.5% Per Annum, Two
Other Long-term debt
Maturity date				Apr. 04, 2024
Stated rate				9.50%	9.50%
Mezzanine Loan, Due October 4, 2023 At 9.5% Per Annum, Before Debt Extension, Two
Other Long-term debt
Maturity date				Oct. 04, 2023
Stated rate				9.50%	9.50%

Summary of significant accounting policies (Details) ¥ in Millions										12 Months Ended
	Aug. 18, 2023 USD ($)	Oct. 15, 2021 USD ($)	Jan. 25, 2021 USD ($)	Sep. 17, 2020 USD ($)	Aug. 06, 2020 USD ($)	Jul. 03, 2020 USD ($)	Jun. 29, 2020 USD ($)	Apr. 15, 2019	Feb. 28, 2017	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CNY (¥) shares	Aug. 28, 2023 shares	Aug. 06, 2020 CNY (¥)	Jul. 03, 2020 CNY (¥)	Jun. 29, 2020 CNY (¥)	May 20, 2019 USD ($)	Nov. 30, 2017	Nov. 22, 2017 USD ($)
Summary of significant accounting policies
Short-term bank loans and other debt, and current portion of long-term bank loans and other debt										$ 1,329,100,000
Defaulted senior notes \| ¥											¥ 545.3
Breached covenants relating to bank and other borrowings \| ¥														¥ 614.0
Corporate bonds carrying amount										273,800,000
Aggregate principal amount of long term loan which extended maturity date \| ¥														¥ 67.6
Cash and cash equivalents:
Cash and cash equivalents										129,243,923		$ 283,131,542	$ 426,399,881
Restricted cash										96,356,223		269,285,004
Asset Impairment Charges										0		0
Allowance for Doubtful Accounts Receivable										6,803,575		5,103,017
Allowance for credit loss										14,245,346		14,137,430
Allowance for doubtful other receivable										1,112,484		1,908,929
Allowance for suppliers										$ 0		$ 0
Retirement benefits
Employer match of eligible compensation of employees, percent of average salary										32.00%	32.00%	32.00%	39.00%
Retirement benefits expenses										$ 10,035,173		$ 14,643,127	$ 20,710,982
Required repatriation										10.00%	10.00%
Minimum percentage of Statutory Surplus Reserve										50.00%	50.00%
Advertising and promotion expenses										$ 6,664,465		19,164,227	$ 40,262,333
Contract cost withholding term										12 months	12 months
Recognized ROU assets										$ 1,615,626		5,707,986
Total lease liabilities (including current and non-current) for operating lease										2,804,408
Operating Lease, Liability, Current										2,228,329		$ 3,780,853
Finance lease, liability current										$ 0
Warranty term										3 months	3 months
Share Repurchase Program
Treasury shares, shares \| shares										60,733,786		54,977,586		60,733,786
Treasury stock, value										$ 116,793,448		$ 116,061,577
ADR [Member]
Share Repurchase Program
Repurchase of ADSs \| shares															1,000,000,000,000
Selling and Marketing Expense [Member]
Cash and cash equivalents:
Capitalized Contract Cost, Amortization										$ 4,100,000		9,800,000
Minimum [Member]
Notes payable and other payables
Estimated useful lives of the real estate properties held for lease										20 years				20 years
Retirement benefits
Required percentage of Statutory Reserve prior to distributions										25.00%	25.00%
LAT Progressive Rate										30.00%	30.00%
Contract cost withholding term										2 years	2 years
Warranty term										2 months	2 months
Maximum [Member]
Notes payable and other payables
Estimated useful lives of the real estate properties held for lease										60 years				60 years
Retirement benefits
LAT Progressive Rate										60.00%	60.00%
Contract cost withholding term										5 years	5 years
Warranty term										3 years	3 years
Percentage of contract cost withheld										5.00%	5.00%
Share Repurchase Program
Stock repurchase program authorized amount																			$ 50,000,000
ASU 2016-02
Retirement benefits
Recognized ROU assets										$ 1,600,000		5,700,000
Total lease liabilities (including current and non-current) for operating lease										2,600,000		7,100,000
Operating Lease, Liability, Current										$ 2,200,000		3,800,000
February 2021 Senior notes due on February 28, 2021 at 7.75% [Member]
Senior Secured Notes
Debt issuance date									Oct. 15, 2021
Debt instrument, aggregate principal amount		$ 207,680,000
November 2020 Senior Secured notes due on November 22, 2020 at 8.875% [Member]
Senior Secured Notes
Debt instrument, aggregate principal amount																					$ 19,100,000
Bears interest																				14.20%
October 2021 Senior Secured Notes due on October 15, 2021 at 14.20% [Member]
Senior Secured Notes
Debt issuance date		Oct. 15, 2021						Apr. 15, 2022
Debt instrument, aggregate principal amount		$ 207,680,000
June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member]
Notes payable and other payables
Debt term					2 years	2 years
Senior Secured Notes
Debt issuance date							Jun. 29, 2020
Debt instrument, aggregate principal amount					$ 75,000,000	$ 75,000,000	$ 75,000,000									¥ 514.5	¥ 514.5	¥ 514.5
Maturity date					Jun. 29, 2022	Jun. 29, 2022	Jun. 29, 2022
Bears interest					12.00%	12.00%	12.00%									12.00%	12.00%	12.00%
September 2023 Senior notes due on September 17, 2023 at 14.50% [Member]
Senior Secured Notes
Debt issuance date				Sep. 17, 2020
Debt instrument, aggregate principal amount				$ 300,000,000
Maturity date				Sep. 17, 2023						Sep. 17, 2023	Sep. 17, 2023
Bears interest				14.50%						14.50%				14.50%
Senior Secured Notes. [Member]
Summary of significant accounting policies
Aggregate principal amount	$ 331,303,941
Senior Notes [Member]
Summary of significant accounting policies
Aggregate principal amount	307,360,000
Carrying amount										$ 393,000,000.0
October 2023 Notes Due on October 15, 2023 at 14.20% [Member]
Senior Secured Notes
Debt instrument, aggregate principal amount		$ 205,400,000
Maturity date										Oct. 15, 2023	Oct. 15, 2023
Bears interest										14.20%				14.20%
January 2024 Notes Due on January 15, 2024 at 14.0% [Member]
Summary of significant accounting policies
Aggregate principal amount	307,363,500,000
Senior Secured Notes
Debt issuance date			Jan. 25, 2021
Debt instrument, aggregate principal amount			$ 270,000,000
Maturity date			Jan. 15, 2024
Bears interest			14.00%
September 2027 Notes Due On September 30 2027 At 3 [Member]
Summary of significant accounting policies
Aggregate principal amount	307,360,000									$ 337,930,000
Carrying amount	$ 1,536,863
Senior Secured Notes
Debt issuance date	Aug. 18, 2023
Debt instrument, aggregate principal amount	$ 331,300,000
Maturity date	Sep. 30, 2027
Bears interest	3.00%									3.00%				3.00%
Repayment of secured debt	$ 1,540,000
Short-term bank acceptance notes [Member]
Notes payable and other payables
Notes payable										$ 70,193,272		87,127,684
Short-term bank acceptance notes [Member] \| Maximum [Member]
Notes payable and other payables
Debt term										6 months	6 months
Withdrawal Restrictions [Member]
Cash and cash equivalents:
Restricted cash										$ 5,221,094		$ 8,311,763

Summary of significant accounting policies - Estimated Useful Life (Details)	Dec. 31, 2023
Minimum [Member]
Summary of significant accounting policies
Estimated useful lives	20 years
Maximum [Member]
Summary of significant accounting policies
Estimated useful lives	60 years
Air Transportation Equipment [Member]
Summary of significant accounting policies
Estimated useful lives	15 years
Vehicles [Member]
Summary of significant accounting policies
Estimated useful lives	5 years
Furniture and Fixtures [Member]
Summary of significant accounting policies
Estimated useful lives	5 years
Building [Member] \| Minimum [Member]
Summary of significant accounting policies
Estimated useful lives	20 years
Building [Member] \| Maximum [Member]
Summary of significant accounting policies
Estimated useful lives	60 years

Condensed financial information of the Company - Additional Information (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Due from affiliates	$ 14,805,229	$ 15,056,284
Other liabilities	72,910,425	66,619,920
Related Party [Member]
Condensed Financial Statements, Captions [Line Items]
Due from affiliates	14,805,230	15,056,284
Other liabilities	72,910,425	66,619,920
Parent Company \| Related Party [Member] \| XIN Development Group International Inc.
Condensed Financial Statements, Captions [Line Items]
Other receivables	116,656,089	116,656,089
Loan facility, maximum borrowing amount			$ 50,000,000
Stated rate			17.50%
Accrued interest	67,554,210	67,554,210
Parent Company \| Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Other liabilities	338,802,242	320,978,971
Other receivables	49,101,879	49,101,879
Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Amounts restricted including paid-in capital and statutory reserves	$ 854,952,913	$ 856,960,327

Summary of significant accounting policies - Accounts receivable and Allowance for Credit Losses (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary of significant accounting policies
Accounts receivable, net	$ 44,252,051	$ 32,587,827
Other deposits and prepayments	259,752,148	322,170,208
Total current assets	4,493,212,025	4,889,207,126
Total assets	5,333,393,231	5,850,278,327	$ 6,446,279,290
Total equity	$ 107,412,382	$ 82,786,829	$ 413,229,237	$ 1,025,903,162

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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+ Details

Related party and employee transactions (Details) - USD ($)				12 Months Ended
	Jun. 06, 2018	Dec. 01, 2017	Sep. 12, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Due from affiliates				$ 14,805,229	$ 15,056,284
Amounts due to related parties				72,910,425	66,619,920
Accrued interest expense				287,028,427	153,330,358
Taicang Pengchi's non-controlling interest holders
Related Party Transaction [Line Items]
Ownership interest acquired (as a percent)		100.00%
Suzhou Yefang's noncontrolling interest holders
Related Party Transaction [Line Items]
Ownership interest acquired (as a percent)	100.00%
Related Party
Related Party Transaction [Line Items]
Due from affiliates				14,805,230	15,056,284
Due from Related Parties, Total				207,431,741	218,775,342
Amounts due to related parties				72,910,425	66,619,920
Total amounts due to related parties				72,910,425	66,619,920
Related Party \| Henan Hongguang Olympic Real Estate Co Ltd
Related Party Transaction [Line Items]
Other receivables				85,595,700	87,047,162
Related Party \| Qingdao Huiju
Related Party Transaction [Line Items]
Other receivables				0	0
Related Party \| Guangzhou Huanglong Information Technology Co., Ltd.
Related Party Transaction [Line Items]
Other receivables				27,153,613	29,937,746
Related Party \| Xinzheng Meihang Network Technology Co., Ltd.
Related Party Transaction [Line Items]
Other receivables				0	0	$ 2,854,538
Due from affiliates				1,047,764	1,065,531
Amounts due to related parties				0	0
Related Party \| Xinzheng Meihang Network Technology Co., Ltd. \| Loans Receivable
Related Party Transaction [Line Items]
Interest rate (as a percent)						11.50%
Related party debt term						3 years
Related Party \| Madison Developments Limited
Related Party Transaction [Line Items]
Other receivables				3,689,595	8,539,686
Advances for operational needs				3,689,595
Related Party \| Madison Developments Limited \| Loans Receivable
Related Party Transaction [Line Items]
Accrued interest receivable				$ 624,125
Interest rate (as a percent)				15.00%
Related Party \| Suzhou Wanzhuo's non-controlling interest holders
Related Party Transaction [Line Items]
Other receivables				$ 28,834,616	29,323,571
Related Party \| Taicang Pengchi's non-controlling interest holders
Related Party Transaction [Line Items]
Other receivables				23,494,569	23,892,970
Cash consideration		$ 28,836,311
Related Party \| Taicang Pengchi's non-controlling interest holders \| Loans Receivable
Related Party Transaction [Line Items]
Working capital funds, noncurrent				23,494,569
Related Party \| Henan Qingning Apartment Management Co., Ltd.
Related Party Transaction [Line Items]
Amounts due to related parties				9,707,534	9,984,106
Total non current amounts due to related parties				0	0
Related Party \| Suzhou Rongjingchen Real Estate Co., Ltd
Related Party Transaction [Line Items]
Other receivables				19,931,382	20,269,362
Related Party \| Others
Related Party Transaction [Line Items]
Other receivables				3,927,036	4,708,561
Due from affiliates				2,463,750	2,505,528
Amounts due to related parties				18,519,868	11,195,093
Related Party \| Suzhou Yefang's noncontrolling interest holders
Related Party Transaction [Line Items]
Due from affiliates				11,293,716	11,485,225
Amounts due to related parties				1,512,945	1,538,601
Cash consideration	$ 15,615,240
Related Party \| Suzhou Wanzhuos
Related Party Transaction [Line Items]
Amounts due to related parties				$ 2,666,033	2,711,240
Percentage of ownership sold			80.00%
Proceed from equity interest sold			$ 23,687,327
Related Party \| Suzhou Wanzhuos \| Loans Receivable
Related Party Transaction [Line Items]
Interest rate (as a percent)				4.75%
Working capital funds, noncurrent				$ 28,834,616
Related Party \| Suzhou Wanzhuos \| Shareholder Service
Related Party Transaction [Line Items]
Working capital funds advanced from related parties current				2,666,033	2,711,240
Related Party \| Suzhou Yefang
Related Party Transaction [Line Items]
Working capital funds, noncurrent				11,293,716
Accrued interest expense				1,512,945
Related Party \| Suzhou Kairongchen Real Estate Co., Ltd.
Related Party Transaction [Line Items]
Amounts due to related parties				$ 40,504,045	$ 41,190,880
Xinzheng Meihang Network Technology Co., Ltd. \| Unsecured Debt
Related Party Transaction [Line Items]
Interest rate (as a percent)					10.00%
Working capital funds advanced from related parties current					$ 2,694,286
Debt term					3 years

Customer deposits (Tables)

12 Months Ended

Dec. 31, 2023

Customer deposits

Schedule of Customer deposits


	December 31,	December 31,
	2022	2023
	US$	US$
Advances for real estate properties	1,866,575,083	1,279,142,157
Add: increase in revenue recognized in excess of amounts received from customers	—	—
Less: recognized as progress billings	(586,058,078)	(539,128,802)
Customer deposits (Note 2(i))	1,280,517,005	740,013,355

Summary of significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2023

Summary of significant accounting policies

The Company and basis of presentation and consolidation

(a) The Company and basis of presentation and consolidation

Ruihao Rongtong

Yuzhouyun

The carrying amounts and classifications of the assets and liabilities of Yuzhouyun were as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Current assets	174,470	(10,484)
Non-current assets	2,873,855	2,922,037
Total assets	3,048,325	2,911,553

Current liabilities	17,699,203	21,353,225
Non-current liabilities	10,337,995	6,847,671
Total liabilities	28,037,198	28,200,896

The financial performance and cash flows of Yuzhouyun were as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Revenue	244,130	10,731
Cost of revenue	(2,534,745)	(947,551)
Net loss	(2,539,202)	(721,263)
Net cash provided by operating activities	2,671,405	3,140,065
Net cash used in investing activities	—	—
Net cash used in financing activities	(2,700,960)	(3,124,002)

Yuzhouyun contributed US$244,130 and US$10,731 of the Company’s consolidated revenue for the years ended December 31, 2022 and 2023, respectively.

Ruizhuo Xihui

The carrying amounts and classifications of the assets and liabilities of Ruizhuo Xihui were as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Current assets	2,621,527	2,566,273
Non-current assets	(10,806)	(10,626)
Total assets	2,610,721	2,555,647

Current liabilities	2,619,769	2,533,801
Total liabilities	2,619,769	2,533,801

The financial performance and cash flows of Ruizhuo Xihui were as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Revenue	235,890	—
Cost of revenue	(64,034)	—
Net income	31,287	30,919
Net cash used in operating activities	(13,900)	(24)
Net cash used in investing activities	—	—
Net cash used in financing activities	—	—

Ruizhuo Xihui contributed US$235,890 and US$nil of the Company’s consolidated revenue for the years ended December 31, 2022 and 2023, respectively.

Going concern

(b) Going concern

As of December 31, 2023, the Group’s short-term bank loans and other debt, and current portion of long-term bank loans and other debt amounted to US$1,329.1 million.

(a)

The Group has been in negotiation with the noteholder to reach agreement on a further debt restructuring plan.

(b)

(d)

(e)

(f)

(g)

The Group could adjust their original sale plan for some residential properties and commercial buildings to an earlier stage in order to generate additional funds; and

Use of Estimates

Fair value of financial instruments

(d) Fair value of financial instruments

Level 1-Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets

Level 2-Includes other inputs that are directly or indirectly observable in the market place

Level 3-Unobservable inputs which are supported by little or no market activity

Foreign currency translation

(e) Foreign currency translation

Cash and cash equivalents

(f) Cash and cash equivalents

Restricted cash

(g) Restricted cash

As of December 31, 2023, the Group held US$nil (December 31, 2022: US$nil) in its bank accounts with withdrawal restriction for its long-term loans (Note 11).

Real estate properties development completed and under development

(h) Real estate properties development completed and under development

For the year ended December 31, 2023, the Group recognized impairment loss of US$21,544,902 for real estate properties completed and under development (2021: US$1,347,050; 2022: US$2,932,743).

Revenue recognition

(i) Revenue recognition

Real estate sales

Real estate management services income

Real estate lease income

Other revenue

Contract assets

Contract liabilities

The following table presents the Group’s contract balances as of December 31, 2022 and 2023:


	December 31,	December 31,
	2022	2023
Contract assets	52,515,766	34,255,318
Customer deposits (Note 14)	1,280,517,005	740,013,355

The Group has not disclosed the movement of contract assets as it is not material.

Accounts receivable and allowance for credit losses

(j) Accounts receivable and allowance for credit losses

Other receivables

(k) Other receivables

Other receivables consist of various cash advances to unrelated companies and individuals with which the Group has business relationships.

The allowance for credit losses reflects the Company’s current estimate of credit losses expected to be incurred over the life of the receivables. The Company considers various factors in establishing, monitoring, and adjusting its allowance for credit losses including the aging of receivables and aging trends, customer creditworthiness and specific exposures related to particular customers. The Company also monitors other risk factors and forward-looking information, such as country specific risks and economic factors that may affect a customer’s ability to pay in establishing and adjusting its allowance for credit losses. As of December 31, 2023, there was US$14,245,346 (December 31, 2022: US$14,137,430) allowance for credit loss.

Deposits for land use rights

(l) Deposits for land use rights

Other deposits and prepayments

(m) Other deposits and prepayments

Other deposits and prepayments mainly consist of upfront cash payments made to third parties related to the direct negotiation model in acquiring land parcels and prepaid tax.

Advances to suppliers

(n) Advances to suppliers

Customer deposits

(o) Customer deposits

Notes payable and other payables

(p) Notes payable and other payables

Other payables consist of balances for non-construction costs with unrelated companies and individuals with which the Group has business relationships.

Real estate properties held for lease, net

(q) Real estate properties held for lease, net

Maintenance, repairs and minor renewals are charged directly to expenses as incurred. Major additions and improvements to the real estate properties held for lease are capitalized.

For the periods presented, the Group did not recognize any impairment for real estate properties held for lease.

Property and equipment, net

(r) Property and equipment, net


Corporate aircraft		15 years
Vehicles		5 years
Furniture and fixtures		5 years
Office buildings		20‑60 years

Maintenance, repairs and minor renewals are charged directly to expense as incurred unless such expenditures extend the useful life or represent a betterment, in which case they are capitalized.

Long-term Investments

(s) Long-term Investments

The Group’s long-term investments consist of equity method investments and equity investments without readily determinable fair value.

Equity method Investments

Nonmarketable equity securities

Nonmarketable equity securities are investments in privately held companies without readily determinable market values.

Capitalized interest

(t) Capitalized interest

The Group capitalizes interest as a component of building construction costs in accordance with ASC 835, Interest (“ASC 835”).

As a result of the total interest costs capitalized during the period, the interest expense for the years ended December 31, 2021, 2022 and 2023 was as follows:


	2021	2022	2023
	US$	US$	US$
Amortization of issuance cost related to long-term debt	7,641,101	9,311,710	6,722,387
Interest expense of finance leases	64,549	69,672	—
Interest on borrowings	310,767,482	237,293,974	237,307,045
Total interest costs	318,473,132	246,675,356	244,029,432
Total interest costs capitalized	(135,074,360)	(88,666,945)	(67,089,115)
Interest expense, net	183,398,772	158,008,411	176,940,317

Retirement benefits

(u) Retirement benefits

Distribution of earnings and reserve fund

(v) Distribution of earnings and reserve fund

Income taxes

(w) Income taxes

Land Appreciation Tax ("LAT")

(x) Land Appreciation Tax (“LAT”)

Comprehensive income

(y) Comprehensive income

Advertising and promotion expenses

(z) Advertising and promotion expenses

Leases

(aa) Leases

Lessee

Lessor

Property warranty

(ab) Property warranty

Earnings per share

(ac) Earnings per share

Treasury Shares

(ad) Treasury Shares

Senior Secured Notes

(ae) Senior Secured Notes

(af) Onshore corporate bonds

Short-term investments

(ag) Short-term investments

Assets acquisition and business combinations

(ah) Assets acquisition and business combinations

Non-controlling interests

(ai) Non-controlling interests

Effect of change in estimate

(aj) Effect of change in estimate

Share-based compensation

(ak) Share-based compensation

Segment Reporting

(al) Segment Reporting

Recent Accounting Pronouncements

(am) Recent Accounting Pronouncements

The Company considers the applicability and impact of all accounting standards updates (“ASUs”). Management periodically reviews new accounting standards that are issued.

Leases - Maturities of lease liabilities (Details)	Dec. 31, 2023 USD ($)
Finance lease
Year ending December 31, 2024	$ 0
Year ending December 31, 2025	0
Year ending December 31, 2026	0
Year ending December 31, 2027	0
Total lease payments	0
Less: imputed interest	0
Present value of lease liabilities	0
Operating leases
Year ending December 31, 2024	2,106,680
Year ending December 31, 2025	509,924
Year ending December 31, 2026	267,157
Year ending December 31, 2027	65,876
Total lease payments	2,949,638
Less: imputed interest	(145,230)
Present value of lease liabilities	$ 2,804,408

Long-term investments

12 Months Ended

Dec. 31, 2023

Long-term investments

Long-term investments

8. Long-term investments

As of December 31, 2022 and 2023, the long-term investments consisted of the following:


				December 31,
	Initial Cost	Ownership		2022
	US$			US$
Nonmarketable equity securities
Zhengzhou Lianhe Real Estate Co., Ltd.	241,648	1.85	%	287,167
Zhengzhou Taike Real Estate Co., Ltd.	738,073	3.75	%	—
Equity method investees
Qingdao Huiju Zhihui City Industrial Development Co., Ltd.	523,459,957	49	%	—
Madison Developments Limited.	19,095,969	50	%	—
Wuhu Penghong Investment Center (Limited Partnership)	61,998,960	n/a		26,784,584
Suzhou Rongjingchen Real Estate Co., Ltd	42,041,464	24	%	19,078,393
Others	68,076,387	n/a		46,323,185
Total				92,473,329


				December 31,
	Initial Cost	Ownership		2023
	US$			US$
Nonmarketable equity securities
Zhengzhou Lianhe Real Estate Co., Ltd.	241,648	1.85	%	282,378
Zhengzhou Taike Real Estate Co., Ltd.	738,073	3.75	%	—
Equity method investees
Qingdao Huiju Zhihui City Industrial Development Co., Ltd.	523,459,957	49	%	—
Madison Developments Limited.	19,095,969	50	%	—
Wuhu Penghong Investment Center (Limited Partnership)	61,998,960	n/a		14,095,331
Suzhou Rongjingchen Real Estate Co., Ltd	42,041,464	24	%	21,867,621
Others	68,076,387	n/a		37,542,413
Total				73,787,743

Equity method investees

On April 19, 2017, the Company signed an agreement to acquire up to 70% equity interest of Qingdao Huiju Zhihui City Industrial Development Co., Ltd. (“Qingdao Huiju”), which is developing a real estate project in Qingdao city from Beijing Huiju Technology Industry Development Co., Ltd. (“Beijing Huiju”), a non-affiliated company for a consideration of US$505.2 million. As of December 31, 2020, US$505.2 million had been paid and a 49% equity interest has been transferred to the Company. Based on the articles of association, the Company cannot exercise control of Qingdao Huiju until it acquires the entire 70% equity interest, but has the ability to exercise significant influence over Qingdao Huiju’s operating and financial decisions and accounted for it as an equity method investment.

The Group initiated various legal actions against Beijing Huiju for, inter alia, (i) the transfer of the remaining 21% equity interest in Qingdao Huiju to the Group and appointment of directors into the board of Qingdao Huiju, (ii) refund of unauthorized transfer of cash of US$98.7 million from Qingdao Huiju to Beijing Huiju, and (iii) return of business license and official seals of Qingdao Huiju to Qingdao Huiju. In March 2019, PRC local court held that Beijing Huiju shall refund the unauthorized cash transferred to Beijing Huiju to Qingdao Huiju and has frozen the cash of US$98.7 million in Beijing Huiju’s bank account. In January 2020, local PRC court held that Beijing Huiju shall return the business license and official seals of Qingdao Huiju to Qingdao Huiju. On June 15, 2021, the PRC local court issued a final verdict that Beijing Huiju shall refund the unauthorized cash of US$98.7 million. In January 2022, the China International Economic and Trade Arbitration Commission, or CIETAC, ruled that Beijing Huiju shall transfer the remaining 21% equity interest in Qingdao Huiju to the Group, that Beijing Huiju shall coordinate in completing the equity transfer registration formalities and confirmed that the Group has the right to appoint three directors onto the board of Qingdao Huiju. Based on independent legal advice and after due and careful enquiry, the directors of the Company are of the view that the above events shall have not any material adverse effect on the Group’s investment in and receivables from Qingdao Huiju.

In 2022, the enforcement status of the above award/judgements was that, (i) the change of equity registration formalities to had been completed by Beijing Huiju within the prescribed period provided by the CIETAC; (ii) Qingdao Huiju had received the refund of US$98.7 million transferred by Beijing Huiju; and (3) Qingdao Huiju had collected the returned business license and official seals of Qingdao Huiju. Therefore, Qingdao Huiju has been consolidated in the Group’s financial statements since the year of 2022.

On September 4, 2017, the Company, with two non-affiliated companies, established a limited partnership, Wuhu Penghong Investment Center (Limited Partnership) (“Wuhu Penghong”), in which the Company and the other two partners invested US$30.6 million, US$91.8 million and US$3.1 million in cash, respectively, to invest in a real estate project. The other two partners hold substantive participating rights whereas the Company only exercises significant influence, and therefore, accounted for its investment in Wuhu Penghong under the equity method. In 2021, the Company further invested US$31.4 million to Wuhu Penghong.

On March 21, 2018, the Company acquired a 50% equity interest in Madison Developments Limited (“MDL”), which is developing a real estate project in London, England from ED Jersey Limited, a non-affiliated company for a consideration of US$19.1 million. Based on the articles of association, the Company cannot exercise control of MDL, but has the ability to exercise significant influence over MDL’s operating and financial decisions and accounts for it as an equity method investment.

In July 2019, the Company acquired a 24% equity interest in Suzhou Rongjingchen Real Estate Co., Ltd. (“Suzhou Rongjingchen”), which is developing a real estate project in Suzhou city from Suzhou Kaijingsheng Real Estate Co., Ltd., a non-affiliated company, for a consideration of US$42.0 million. Based on the articles of association, the Company cannot exercise control of Suzhou Rongjingchen, but has the ability to exercise significant influence over Suzhou Rongjingchen’s operating and financial decisions and accounted for it as an equity method investment.

As of December 31, 2023, the Group’s investment in the investees in the aggregate exceeded its proportionate share of the net assets of the equity method investees by nil (2022: nil). This difference, if any, represents equity method goodwill and therefore, is not amortized. For the year ended December 31, 2023, the Group recognized its share of loss from its equity method investments of US$17,914,070 (2021: loss of US$23,345,765; 2022: loss of US$26,166,538). As of December 31, 2022 and 2023, there was no material impairment related to these investments.

Summarized combined financial information of the equity method investees is as follows:


		December 31,
		2023
		US$
		(in thousands)
Current assets		438,421
Non-current assets		52,132
Current liabilities		94,627
Non-current liabilities		281,668
Non-controlling interest		—
Gross revenue		199,758
Gross profit		19,472
Loss from continuing operations		(14,114)
Net loss		(12,019)
Net loss attributable to the Company		(17,914)

The above summarized financial information represents the operating performance and financial position of the investees since they became equity method investees of the Group.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)/income	$ 30,531,711	$ (258,682,725)	$ (413,262,114)
Adjustments to reconcile net (loss)/income to net cash provided by/(used in) operating activities:
Depreciation and amortization	22,506,645	13,168,207	18,267,515
Stock-based compensation expenses		568,047	3,413,610
Deferred tax (benefit)/expenses	(98,128,752)	92,635,419	(81,124,977)
Amortization of deferred charges	7,739,849	5,728,866	3,242,398
Share of loss of equity investees	17,914,070	26,166,538	23,345,765
Exchange loss/(gain)	(13,482,057)	(39,952,338)	9,707,463
Changes in unrecognized tax benefit	11,044,674	6,298,039	29,025,853
Gain on extinguishment of debt (Note 12)	(169,932,886)	(9,620,914)	0
Loss on short-term investments	7,626,097	71,675,454	30,203,357
Gain on disposal of property held for lease		(5,687,312)
Proceeds from disposal of short-term investments		359,025
Purchase of trading securities			(109,303,567)
Gain on modification of debt	(26,372,965)
Allowance for doubtful accounts	2,082,081	2,119,346	2,781,268
Impairment loss on goodwill		1,481,006	4,355,469
Impairment loss on intangible assets			14,295,790
Others	3,404,181	(64,687)	3,834,826
Changes in operating assets and liabilities:
Accounts receivable	(14,027,916)	22,272,540	37,981,853
Real estate properties development completed and under development	(53,100,033)	(506,304,362)	647,900,818
Contract assets	18,055,825	(18,682,950)	(5,940,218)
Real estate properties held for lease	13,493,374	(51,502,401)	26,897,517
Advances to suppliers	13,595,505	61,413,770	(76,248,232)
Other receivables	(2,456,245)	(103,913,042)	83,761,147
Deposits for land use rights	1,326,894	(1,182,046)	43,725,198
Other deposits and prepayments	57,657,023	15,076,597	(34,882,024)
Other current assets	6,975,279	(6,456,006)	2,359,210
Amounts due from related parties	7,825,323	47,297,291	(33,014,545)
Amounts due from employees	405,575	(47,565)	(997,298)
Other assets	769,425	14,383,358	(20,542,642)
Accounts payable	89,556,104	(94,511,442)	(128,043,926)
Customer deposits	(522,223,988)	210,848,409	143,204,992
Income tax payable	58,023,234	13,392,278	(35,014,314)
Other payables and accrued liabilities	258,398,911	(29,962,164)	(51,513,133)
Payroll and welfare payable	(1,980,925)	2,392,037	(3,059,265)
Amounts due to related parties	2,000,000	(10,979,186)	251,053
Net cash provided by/(used in) operating activities	(270,773,987)	(530,272,913)	135,608,847
CASH FLOWS FROM INVESTING ACTIVITIES:
Disposal of properties held for lease and property and equipment	82,512	3,264,138	7,052,259
Purchase of property and equipment	(372,937)	(28,681)	(2,058,162)
Acquisition of subsidiaries, net of cash acquired (Note 9)		510,108,525
Acquisition of long-term investments	414,661		(27,768,648)
Purchase of Investment product	(1,411,891)
Proceeds of sales of equity interest of subsidiaries	180,702
Loan to employees		554,309
Net cash (used in)/provided by investing activities	(1,106,953)	513,898,291	(22,774,551)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common shares	1,595,830
Purchase of treasury shares (Note 19)	(731,871)
Dividends to shareholders		(4,661,341)	(4,055,664)
Amounts due to related parties	5,432,379	(4,068,750)	44,288,546
Repayments of short-term bank loans and current portion of long-term bank loans	(110,453,807)	(205,502,651)	(790,322,990)
Proceeds from short-term bank loans and current portion of long-term bank loans		5,825,838	193,848,327
Repayment of long-term bank loans		(38,472,000)	(183,056,732)
Proceeds from long-term bank loans	20,314,059	83,335,835	339,581,996
Repayment of other short-term debt		(4,059,023)	(11,572,583)
Proceeds from other short-term debt		85,768,101	17,689,487
Repayment of other long-term debt		(98,522,299)	(891,457,400)
Proceeds from other long-term debt	36,508,218	124,661,778	610,114,087
Payment of financing cost			(6,947,448)
Payment of principal from finance lease		(5,207,694)	(1,916,297)
Proceeds from mandatorily redeemable non-controlling interests	42,171	475,728	1,070,310
Contributions from non-controlling interests, net			5,659,417
Net cash used in financing activities	(47,293,021)	(60,426,478)	(677,076,944)
NET(DECREASE)/INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(319,173,961)	(76,801,100)	(564,242,648)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(10,733,108)	(82,342,346)	24,132,269
Cash, cash equivalents and restricted cash, at beginning of year	560,728,309	719,871,755	1,259,982,134
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, AT END OF YEAR	230,821,240	560,728,309	719,871,755
SUPPLEMENTARY INFORMATION ON CASH FLOWS
Cash and cash equivalents	129,243,923	283,131,542	426,399,881
Restricted cash	101,577,317	277,596,767	293,471,874
Incomes taxes paid	44,064,294	99,120,026	99,120,026
Interest paid	$ 34,991,943	$ 112,037,414	$ 261,746,433

(Loss)/income per share (Details) - USD ($)	12 Months Ended
(Loss)/income per share (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net (loss)/income attributable to Xinyuan Real Estate Co., Ltd. Shareholders - basic	$ 40,282,025	$ (263,353,561)	$ (417,307,378)
Net (loss)/income attributable to Xinyuan Real Estate Co., Ltd. Shareholders - diluted	$ 40,282,025	$ (263,353,561)	$ (417,307,378)
Denominator:
Weighted average number of shares outstanding, basic	106,686,376	107,849,225	107,283,420
Weighted average number of shares outstanding-diluted	106,686,376	107,849,225	107,283,420
Basic (loss)/income per share	$ 0.38	$ (2.44)	$ (3.89)
Diluted (loss)/income per share	$ 0.38	$ (2.44)	$ (3.89)
Employee Stock Option [Member]
Denominator:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	0
Anti-dilutive shares	0	0	0
Restricted Stock [Member]
Denominator:
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	0	0
Anti-dilutive shares	0	0	81,035

Share-based compensation - Assumptions (Details)	12 Months Ended
Share-based compensation - Assumptions (Details)	Dec. 31, 2015
2007 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 years
Dividend yield	5.00%
2007 Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free rate of return	1.82%
Volatility rate	46.30%
2007 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free rate of return	1.92%
Volatility rate	55.20%
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term	6 years
Dividend yield	5.00%
2015 Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free rate of return	1.57%
Volatility rate	55.00%
2015 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free rate of return	1.92%
Volatility rate	55.90%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
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+ Details

Summary of significant accounting policies - Contract balance (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Summary of significant accounting policies
Contract assets	$ 34,255,318	$ 52,515,766
Customer deposits (note 14)	$ 740,013,355	$ 1,280,517,005

Short-term bank loans and other debt

12 Months Ended

Dec. 31, 2023

Short-term bank loans and other debt

Short-term bank loans and other debt

9. Short-term bank loans and other debt

Short-term bank loans and other debt represent amounts due to various banks and financial institutions that are due on the dates indicated below. Short-term bank loans and other debt at December 31, 2022 and 2023 consisted of the following:


	December 31,	December 31,
	2022	2023
	US$	US$
Loan from Hua Xia Bank Co., Ltd.
Due March 21, 2023 at 7.00% per annum	4,020,331	3,953,295
Due March 21, 2023 at 7.00% per annum	11,486,661	—
Due March 30, 2023 at 8.00% per annum	5,743,331	—

Loan from Everbright Bank
Due October 19, 2022 at 7.83% per annum	4,278,781	4,207,435

Loan from Henan Zhongyuan Microfinance Co., Ltd
Due July 13, 2023, at 11.00% per annum	4,235,706	4,165,078

Loan from Beijing Dingcheng Pawnshop Co., Ltd
Due September 9, 2022 at 18.00% per annum	1,579,416	1,553,080

Loan from Bank of Zhengzhou
Due March 28, 2023, at 4.75% per annum	50,254,143	49,416,183

Total short-term bank loans and other debt	81,598,369	63,295,071

As of December 31, 2023, US$63,295,071 of the Group’s short-term bank loans and other debt were denominated in RMB and were mainly secured by the Group’s real estate properties development completed with net book value of US$73,101,911 (2022: US$74,341,513), land use right of US$17,349,132 (2022: US$17,643,325), real estate properties held for lease with net book value of US$17,225,070 (2022: US$17,517,158), and property and equipment with net book value of US$8,469,069 (2022: US$8,612,681). As of December 31, 2023, no short-term bank loans and other debt was denominated in U.S. dollar. As of December 31, 2022, no short-term bank loans and other debt was denominated in U.S. dollar.

The weighted average interest rate on short-term bank loans and other debt as of December 31, 2023 was 5.80% (2022: 7.26%).

Other long-term debt - Additional Information (Details) ¥ in Millions																		3 Months Ended	10 Months Ended	12 Months Ended
	Aug. 18, 2023 USD ($)	Oct. 15, 2021 USD ($)	Feb. 09, 2021 USD ($)	Jan. 25, 2021 USD ($)	Jan. 07, 2021 USD ($)	Nov. 30, 2020 USD ($)	Nov. 16, 2020	Nov. 12, 2020 USD ($)	Sep. 17, 2020 USD ($)	Aug. 06, 2020 USD ($)	Jul. 03, 2020 USD ($)	Jun. 29, 2020 USD ($)	Apr. 15, 2019	Apr. 01, 2019 USD ($)	Nov. 30, 2018	Feb. 28, 2017	Dec. 28, 2015	Jun. 21, 2019 USD ($)	Nov. 30, 2020 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 CNY (¥)	Jan. 07, 2021 CNY (¥)	Nov. 30, 2020 CNY (¥)	Nov. 12, 2020 CNY (¥)	Aug. 06, 2020 CNY (¥)	Jul. 03, 2020 CNY (¥)	Jun. 29, 2020 CNY (¥)	Jun. 21, 2019 CNY (¥)	Apr. 01, 2019 CNY (¥)	Dec. 21, 2018 USD ($)	Nov. 30, 2017	Nov. 22, 2017 USD ($)
Other Long-term debt
Net gain on debt extinguishment																				$ 169,932,886	$ 9,620,914	$ 0
Gain on modification of debt																				26,372,965
First Tranche Bonds [Member]
Other Long-term debt
Redemption price															100.00%
Second Tranche Bonds [Member]
Other Long-term debt
Debt instrument redemption amount																				3,450.0														$ 10,000,000
Unamortized debt issuance expense																																		1.0
Debt instrument redemption price																																		$ 2.0
Two Thousand Nineteen First Tranche
Other Long-term debt
Debt instrument redemption amount						$ 49,000,000												$ 91,000,000	$ 49,000,000								¥ 343.0					¥ 637.0
Net gain on debt extinguishment																		(3,977,493)	423,011
Unamortized debt issuance expense						350,371												482,825	350,371
Debt instrument redemption price						72,640												$ 3,494,668	72,640
2020 Tranche
Other Long-term debt
Debt instrument redemption amount						94,000,000													94,000,000	0	12,000,000				¥ 77.1		¥ 646.0
Net gain on debt extinguishment						261,320
Unamortized debt issuance expense						260,828													260,828
Debt instrument redemption price						$ 492													$ 492
Two Thousand Twenty One Tranche [Member]
Other Long-term debt
Debt instrument redemption amount																				$ 0	62,000,000				¥ 402.2
November 2020 Senior Secured notes due on November 22, 2020 at 8.875% [Member]
Other Long-term debt
Debt instrument, aggregate principal amount																																				$ 19,100,000
Stated rate																																			14.20%
Corporate Bonds Due On December 28, 2020 at 7.5% [Member] \| First Tranche Bonds [Member]
Other Long-term debt
Debt issuance date																	Sep. 30, 2027
February 2021 Senior notes due on February 28, 2021 at 7.75% [Member]
Other Long-term debt
Debt issuance date																Oct. 15, 2021
Debt instrument, aggregate principal amount		$ 207,680,000
October 2021 Senior Secured Notes due on October 15, 2021 at 14.20% [Member]
Other Long-term debt
Debt issuance date		Oct. 15, 2021											Apr. 15, 2022
Debt instrument, aggregate principal amount		$ 207,680,000
October 2023 Senior Secured Notes Due On October 15 2023 At 14.2% [Member]
Other Long-term debt
Debt instrument, aggregate principal amount		$ 205,400,000
Maturity date		Oct. 15, 2023
Stated rate		14.20%
Debt instrument, frequency of periodic payment		semi-annually
Effective interest rate																						16.65%
Redemption price																				114.50%
minimum percentage of common shares owned by subject to certain qualifications and exceptions and satisfaction																				10.00%
Debt instrument redemption amount																					2,500,000	$ 66,100,000
Debt term		2 years
Cash consideration in full satisfaction of the exchange consideration		$ 19,100,000
October 2023 Senior Secured Notes Due On October 15 2023 At 14.2% [Member] \| Maximum [Member]
Other Long-term debt
Redemption price																				35.00%
Fixed charge coverage ratio																				2.0
October 2023 Senior Secured Notes Due On October 15 2023 At 14.2% [Member] \| Minimum [Member]
Other Long-term debt
Redemption price																				65.00%
Fixed charge coverage ratio																				1.0
January 2024 Notes Due on January 25, 2024 at 14.00% [Member]
Other Long-term debt
Debt issuance date			Feb. 09, 2021	Jan. 25, 2021
Debt instrument, aggregate principal amount			$ 270,000,000	$ 270,000,000
Maturity date			Jan. 25, 2024	Jan. 25, 2024																Jan. 25, 2024
Stated rate			14.00%	14.00%																14.00%
Debt instrument, frequency of periodic payment			semi-annually	semi-annually
Effective interest rate			14.49%	14.49%
minimum percentage of common shares owned by subject to certain qualifications and exceptions and satisfaction																				10.00%
Debt instrument redemption amount																					4,820,000	5,500,000		$ 3,900,000
Debt term			3 years	3 years
January 2024 Notes Due on January 25, 2024 at 14.00% [Member] \| Maximum [Member]
Other Long-term debt
Fixed charge coverage ratio																				2.0
January 2024 Notes Due on January 25, 2024 at 14.00% [Member] \| Minimum [Member]
Other Long-term debt
Fixed charge coverage ratio																				1.0
June 2022 Senior Secured Notes at 12.00% [Member]
Other Long-term debt
Debt issuance date										Aug. 06, 2020	Jul. 03, 2020
June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member]
Other Long-term debt
Debt issuance date												Jun. 29, 2020
Debt instrument, aggregate principal amount										$ 75,000,000	$ 75,000,000	$ 75,000,000																	¥ 514.5	¥ 514.5	¥ 514.5
Maturity date										Jun. 29, 2022	Jun. 29, 2022	Jun. 29, 2022
Stated rate										12.00%	12.00%	12.00%																	12.00%	12.00%	12.00%
Debt instrument, frequency of periodic payment										semi-annually	semi-annually
Effective interest rate										15.69%	15.69%																		15.69%	15.69%
minimum percentage of common shares owned by subject to certain qualifications and exceptions and satisfaction																				10.00%
Debt term										2 years	2 years
June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member] \| Maximum [Member]
Other Long-term debt
Fixed charge coverage ratio																				2.0
June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member] \| Minimum [Member]
Other Long-term debt
Fixed charge coverage ratio																				1.0
September 2023 Senior Secured Notes at 14.50% [Member]
Other Long-term debt
Debt issuance date									Sep. 17, 2020
Debt instrument, aggregate principal amount									$ 300,000,000
Maturity date									Sep. 17, 2023
Stated rate									14.50%
Debt instrument, frequency of periodic payment									semi-annually
Effective interest rate									15.69%
minimum percentage of common shares owned by subject to certain qualifications and exceptions and satisfaction																				10.00%
Debt instrument redemption amount																					$ 3,500,000	$ 41,200,000	$ 1,000,000
Net gain on debt extinguishment																							(7,334)
Debt instruments redemption difference between repurchase price and principal amount																							$ 7,334
Debt term									3 years
September 2023 Senior Secured Notes at 14.50% [Member] \| Maximum [Member]
Other Long-term debt
Fixed charge coverage ratio																				2.0
September 2023 Senior Secured Notes at 14.50% [Member] \| Minimum [Member]
Other Long-term debt
Fixed charge coverage ratio																				1.0
Corporate Bonds Due in April 1, 2024 at 8.4% \| Two Thousand Nineteen First Tranche
Other Long-term debt
Debt issuance date														Apr. 01, 2019
Debt instrument, aggregate principal amount														$ 146,000,000																			¥ 980.0
Maturity date														Apr. 01, 2024
Stated rate														8.40%																			8.40%
Corporate bonds due on November 13, 2025 at 8.35% [Member] \| 2020 Tranche
Other Long-term debt
Debt issuance date							Nov. 12, 2020
Debt instrument, aggregate principal amount								$ 130,000,000																				¥ 900.0
Maturity date								Nov. 13, 2025
Stated rate							8.35%	8.35%																				8.35%
Onshore Corporate Bonds Due On January 07, 2026 [Member]
Other Long-term debt
Stated rate																				8.35%
Onshore Corporate Bonds Due On January 07, 2026 [Member] \| Two Thousand Twenty One Tranche [Member]
Other Long-term debt
Debt issuance date					Jan. 07, 2021
Debt instrument, aggregate principal amount					$ 78,000,000																					¥ 500.0
Maturity date					Jan. 07, 2026
Stated rate					8.35%																					8.35%
September 2027 Senior Secured Notes [Member]
Other Long-term debt
Payment Of Consent Fee For Exchange Of Notes	$ 3
Senior Notes [Member]
Other Long-term debt
Debt Conversion, Original Debt, Amount	$ 307,360,000
September 2027 Notes Due On September 30 2027 At 3 [Member]
Other Long-term debt
Debt issuance date	Aug. 18, 2023
Debt instrument, aggregate principal amount	$ 331,300,000
Maturity date	Sep. 30, 2027
Stated rate	3.00%																			3.00%
Redemption terms	At any time prior to September 30, 2027, the Company may at its option redeem the September 2027 Senior Secured Notes, in whole or in part, at a redemption price equal to or no less than 100.0% of the principal amount of the September 2027 Senior Secured Notes plus the accrued and unpaid interest, if any, to (but not including) the redemption date.
Repayment of secured debt	$ 1,540,000
Debt Conversion, Original Debt, Amount	$ 307,360,000																			$ 337,930,000
September 2027 Notes Due On September 30 2027 At 3 [Member] \| Minimum [Member]
Other Long-term debt
Redemption price	100.00%
Debt Instrument, Redemption, Period One [Member] \| October 2023 Senior Secured Notes Due On October 15 2023 At 14.2% [Member]
Other Long-term debt
Redemption terms																				At any time prior to October 15, 2023, the Company may at its option redeem the October 2023 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the October 2023 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any October 2023 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such October 2023 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such October 2023 Senior Secured Note, plus all required remaining scheduled interest payments due on such October 2023 Senior Secured Note through the maturity date of the October 2023 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the October 2023 Indenture) plus 100 basis points, over (B) the principal amount of such October 2023 Senior Secured Note on such redemption date.
Description of variable rate basis																				the Adjusted Treasury Rate (as defined in the October 2023 Indenture)
Stated spread over variable rate																				100.00%
Debt Instrument, Redemption, Period One [Member] \| October 2023 Senior Secured Notes Due On October 15 2023 At 14.2% [Member] \| Applicable Premium [Member]
Other Long-term debt
Redemption price																				1.00%
Debt Instrument, Redemption, Period One [Member] \| January 2024 Notes Due on January 25, 2024 at 14.00% [Member]
Other Long-term debt
Redemption terms																				At any time prior to January 25, 2024, the Company may at its option redeem the January 2024 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the January 2024 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any January 2024 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such January 2024 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such January 2024 Senior Secured Note, plus all required remaining scheduled interest payments due on such January 2024 Senior Secured Note through the maturity date of the January 2024 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the January 2024 Indenture) plus 100 basis points, over (B) the principal amount of such January 2024 Senior Secured Note on such redemption date.
Redemption price																				100.00%
Description of variable rate basis																				the Adjusted Treasury Rate (as defined in the January 2024 Indenture)
Stated spread over variable rate																				1.00%
Debt Instrument, Redemption, Period One [Member] \| January 2024 Notes Due on January 25, 2024 at 14.00% [Member] \| Applicable Premium [Member]
Other Long-term debt
Redemption price																				1.00%
Debt Instrument, Redemption, Period One [Member] \| June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member]
Other Long-term debt
Redemption terms																				At any time prior to June 29, 2022, the Company may at its option redeem the June 2022 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the June 2022 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any June 2022 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such June 2022 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such June 2022 Senior Secured Note, plus all required remaining scheduled interest payments due on such June 2022 Senior Secured Note through the maturity date of the June 2022 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the June 2022 Indenture) plus 100 basis points, over (B) the principal amount of such June 2022 Senior Secured Note on such redemption date.
Redemption price																				100.00%
Description of variable rate basis																				the Adjusted Treasury Rate (as defined in the June 2022 Indenture)
Stated spread over variable rate																				100.00%
Debt Instrument, Redemption, Period One [Member] \| June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member] \| Applicable Premium [Member]
Other Long-term debt
Redemption price																				1.00%
Debt Instrument, Redemption, Period One [Member] \| September 2023 Senior Secured Notes at 14.50% [Member]
Other Long-term debt
Redemption terms																				At any time prior to September 17, 2023, the Company may at its option redeem the September 2023 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the September 2023 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any September 2023 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such September 2023 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such September 2023 Senior Secured Note, plus all required remaining scheduled interest payments due on such September 2023 Senior Secured Note through the maturity date of the September 2023 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the September 2023 Indenture) plus 100 basis points, over (B) the principal amount of such September 2023 Senior Secured Note on such redemption date.
Redemption price																				100.00%
Description of variable rate basis																				the Adjusted Treasury Rate (as defined in the September 2023 Indenture)
Stated spread over variable rate																				1.00%
Debt Instrument, Redemption, Period One [Member] \| September 2023 Senior Secured Notes at 14.50% [Member] \| Applicable Premium [Member]
Other Long-term debt
Redemption price																				1.00%
Debt Instrument, Redemption, Period One [Member] \| October 2023 Senior Secured Notes Due On October 15 2022 At 14.2% [Member]
Other Long-term debt
Redemption price																				100.00%
Debt Instrument, Redemption, Period One [Member] \| September 2027 Notes Due On September 30 2027 At 3 [Member]
Other Long-term debt
Percentage of principal redeemable	5.00%
Debt Instrument, Redemption, Period Two [Member] \| October 2023 Senior Secured Notes Due On October 15 2023 At 14.2% [Member]
Other Long-term debt
Redemption terms																				At any time prior to October 15, 2023, the Company may redeem up to 35% of the aggregate principal amount of the October 2023 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 114.5% of the principal amount of the October 2023 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the October 2023 Senior Secured Notes issued on October 15, 2021, remains outstanding after each such redemption.
Debt Instrument, Redemption, Period Two [Member] \| January 2024 Notes Due on January 25, 2024 at 14.00% [Member]
Other Long-term debt
Redemption terms																				At any time prior to January 25, 2024, the Company may redeem up to 35% of the aggregate principal amount of the January 2024 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 114% of the principal amount of the January 2024 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the January 2024 Senior Secured Notes issued on January 25, 2021, remains outstanding after each such redemption.
Redemption price																				114.00%
Debt Instrument, Redemption, Period Two [Member] \| January 2024 Notes Due on January 25, 2024 at 14.00% [Member] \| Maximum [Member]
Other Long-term debt
Percentage of principal redeemable																				35.00%
Debt Instrument, Redemption, Period Two [Member] \| January 2024 Notes Due on January 25, 2024 at 14.00% [Member] \| Minimum [Member]
Other Long-term debt
Debt instrument carrying amount percentage																				65.00%
Debt Instrument, Redemption, Period Two [Member] \| June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member]
Other Long-term debt
Redemption terms																				At any time prior to June 29, 2022, the Company may redeem up to 35% of the aggregate principal amount of the June 2022 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 112% of the principal amount of the June 2022 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the June 2022 Senior Secured Notes issued on June 29, 2020 remains outstanding after each such redemption.
Redemption price																				112.00%
Debt Instrument, Redemption, Period Two [Member] \| June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member] \| Maximum [Member]
Other Long-term debt
Percentage of principal redeemable																				35.00%
Debt Instrument, Redemption, Period Two [Member] \| June 2022 Senior Secured Notes Due On June 29 2022 At 12% [Member] \| Minimum [Member]
Other Long-term debt
Debt instrument carrying amount percentage																				65.00%
Debt Instrument, Redemption, Period Two [Member] \| September 2023 Senior Secured Notes at 14.50% [Member]
Other Long-term debt
Redemption terms																				At any time prior to September 17, 2023, the Company may redeem up to 35% of the aggregate principal amount of the September 2023 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 114.5% of the principal amount of the September 2023 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the September 2023 Senior Secured Notes issued on September 17, 2020 remains outstanding after each such redemption.
Redemption price																				114.50%
Debt Instrument, Redemption, Period Two [Member] \| September 2023 Senior Secured Notes at 14.50% [Member] \| Maximum [Member]
Other Long-term debt
Percentage of principal redeemable																				35.00%
Debt Instrument, Redemption, Period Two [Member] \| September 2023 Senior Secured Notes at 14.50% [Member] \| Minimum [Member]
Other Long-term debt
Debt instrument carrying amount percentage																				65.00%
Debt Instrument, Redemption, Period Two [Member] \| September 2027 Notes Due On September 30 2027 At 3 [Member]
Other Long-term debt
Percentage of principal redeemable	5.00%

Leases (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Lease Assets
Finance lease assets	$ 0
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, And Equipment, And Finance Right Of Use Asset, Excluding Lessor Asset Under Operating Lease, After Accumulated Depreciation	Property, Plant, And Equipment, And Finance Right Of Use Asset, Excluding Lessor Asset Under Operating Lease, After Accumulated Depreciation
Operating lease ROU assets	$ 1,615,626	$ 5,707,986
Current
Current portion of finance lease	$ 0
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total	Total
Current portion of operating lease	$ 2,228,329	$ 3,780,853
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total	Total
Total	$ 2,228,329	$ 3,780,853
Non-current
Finance lease, net of current portion	$ 0	$ 0
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total	Total
Operating lease, net of current portion	$ 338,252	$ 3,310,116
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total	Total
Total	$ 338,252	$ 3,310,116
Property and equipment, net
Lease Assets
Finance lease assets	0
Real estate properties held for lease, net
Lease Assets
Finance lease assets	$ 0

Subsequent events (Details)	Apr. 29, 2024
Subsequent Event [Member] \| September 2027 Notes Due On September 30 2027 At 3 [Member]
Subsequent Event [Line Items]
Percentage of consent received of aggregate principal amount of notes payable	88.55%

Short-term investments (Details) - USD ($)	12 Months Ended
Short-term investments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Trading securities:
Fair Value	$ 5,422,264	$ 11,992,929
Cost	7,531,588	16,892,960
Unrealized (loss) gain in profit and loss	(2,109,324)	(4,900,031)
Fair Value, Equity securities without readily determinable fair value	5,516,773	66,775,423
Net realized gain on short-term investments	2,109,324	4,900,031
Investment product [Member] \| Quoted Price in Active Market for Identical Assets (Level 1) [Member]
Trading securities:
Unrealized (loss) gain in profit and loss	(2,123,567)
Equity securities [Member] \| Quoted Price in Active Market for Identical Assets (Level 1) [Member]
Trading securities:
Fair Value	3,996,130	11,049,675
Cost	6,119,697	13,793,189
Unrealized (loss) gain in profit and loss		(2,743,514)
Investment Product [Member] \| Quoted Price in Active Market for Identical Assets (Level 1) [Member]
Trading securities:
Fair Value	1,426,134	943,254
Cost	1,411,891	3,099,771
Unrealized (loss) gain in profit and loss	$ 14,243	$ (2,156,517)

Short-term investments (Tables)

12 Months Ended

Dec. 31, 2023

Short-term investments

Schedule of Short-term Investments


	December 31, 2022
	US$
	Fair		Unrealized
	value	Cost	loss in profit and loss
Level 1
Equity securities with readily determinable fair value	11,049,675	13,793,189	(2,743,514)
Investment product with readily determinable fair value	943,254	3,099,771	(2,156,517)
Total	11,992,929	16,892,960	(4,900,031)


	December 31, 2023
	US$
	Fair		Unrealized
	value	Cost	loss in profit and loss
Level 1
Equity securities with readily determinable fair value	3,996,130	6,119,697	(2,123,567)
Investment product with readily determinable fair value	1,426,134	1,411,891	14,243
Total	5,422,264	7,531,588	(2,109,324)

Customer deposits (Details) - USD ($)	12 Months Ended
Customer deposits (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Customer deposits
Advances for real estate properties	$ 1,279,142,157	$ 1,866,575,083
Add: increase in revenue recognized in excess of amounts received from customers	0	0
Less: recognized as progress billings	(539,128,802)	(586,058,078)
Customer deposits	$ 740,013,355	$ 1,280,517,005
Minimum
Customer deposits
Customer deposits backed by mortgage loans, percentage	40.00%
Maximum
Customer deposits
Customer deposits backed by mortgage loans, percentage	80.00%

Other receivables

12 Months Ended

Dec. 31, 2023

Other receivables

Other receivables

4. Other receivables

As of December 31, 2022 and 2023, other receivables consisted of the followings:


	December 31,	December 31,
	2022	2023
	US$	US$
Henan Derun Real Estate Co. Ltd (“Henan Derun”)	142,448,841	140,261,069
Zhengzhou Yongzhi Jianxin Meiyu Private Equity Fund (“Zhengzhou Yongzhi”)	22,973,322	22,590,255
Due from contractors	17,253,823	23,571,115
Due from Zijin Royal Palace	45,163,449	44,025,880
Others	155,673,690	148,207,979
Total	383,513,125	378,656,298

In December 2019, the Group agreed to provide Henan Derun financing using the prepayment and charge interest of 18% per annum commencing from the date of prepayment made to Henan Derun. In March 2020, the Group entered into an agreement with Henan Derun, pursuant to which the above receivables shall be settled by Henan Derun’s transfer of certain parcels of land properties to a project company 80% owned by the Group and the Group will assume the bank loans of Henan Derun aggregating to US$77.1 million, which were pledged by such land properties. The Group evaluated the potential impairment and concluded that no impairment allowance is required because the estimated future undiscounted cash flow of the relevant land properties attributed to the Group exceeded the total amount of the above receivables and bank loans assumed by the Group. As of December 31, 2023, the prepayment was recorded as other receivables aggregating to US$140.3 million (2022: US$142.4 million).

In July 2020, the Company transferred Zhengzhou Modern City Shopping Mall originally held by the Company to a new subsidiary (the “Project Company”). The shopping mall was accounted for as property held for lease. In September 2020, the Company entered into a share purchase agreement with Zhengzhou Yongzhi to transfer its 98% equity interest in the Project Company for a consideration of US$122,607,243. As of December 31, 2021, Zhengzhou Yongzhi had paid US$98,085,794 to the Company and the change of business registration of the Project Company had been completed. According to the agreement, the remaining consideration of US$22,590,255 should be paid before September 27, 2021. The balance is now overdue. The directors of the Company are of the view that no credit loss is required for the balance because the underground property right has not been transferred to the new Project Company, and the fair value of the underground property as appraised by an external valuer exceeded the outstanding balance receivable from Zhengzhou Yongzhi.

Condensed financial information of the Company - Condensed Statements of Cash Flows (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss)/income	$ 30,531,711	$ (258,682,725)	$ (413,262,114)
Adjustment to reconcile net loss to net cash used in operating activities:
Stock based compensation expense		568,047	3,413,610
Loss on short-term investments	7,626,097	71,675,454	30,203,357
Proceeds from disposal of short-term investments		359,025
Amortization of deferred charges	7,739,849	5,728,866	3,242,398
loss/(gain) on extinguishment of debt	(169,932,886)	(9,620,914)	0
Other receivables	(2,456,245)	(103,913,042)	83,761,147
Other current assets	6,975,279	(6,456,006)	2,359,210
Other payable and accrued liabilities	258,398,911	(29,962,164)	(51,513,133)
Payroll and welfare payables	(1,980,925)	2,392,037	(3,059,265)
Net cash provided by/(used in) operating activities	(270,773,987)	(530,272,913)	135,608,847
Cash flows from investing activities:
Net cash (used in)/provided by investing activities	(1,106,953)	513,898,291	(22,774,551)
Cash flows from financing activities:
Changes in due from subsidiaries	5,432,379	(4,068,750)	44,288,546
Proceeds from short-term bank loans		5,825,838	193,848,327
Repayment of long-term bank loans		(38,472,000)	(183,056,732)
Proceeds from long-term bank loans	20,314,059	83,335,835	339,581,996
Proceeds from other long-term debts	36,508,218	124,661,778	610,114,087
Repayment of other long-term debts		(98,522,299)	(891,457,400)
Purchase of treasury shares	(731,871)
Dividends to shareholders		(4,661,341)	(4,055,664)
Proceeds from issuance of common shares	1,595,830
Net cash used in financing activities	(47,293,021)	(60,426,478)	(677,076,944)
Cash and cash equivalents, at the beginning of the year	283,131,542	426,399,881
Cash and cash equivalents, at end of the period	129,243,923	283,131,542	426,399,881
Parent Company
Cash flows from operating activities:
Net (loss)/income	40,282,023	(263,353,561)	(417,307,378)
Adjustment to reconcile net loss to net cash used in operating activities:
Equity in (profit)/loss of subsidiaries, net	(17,492,881)	(92,986,489)	(289,093,048)
Stock based compensation expense		568,046	1,625,318
Loss on short-term investments	660,022	68,931,940	1,627,139
Proceeds from disposal of short-term investments		359,025
Amortization of deferred charges	7,739,849	5,472,222
loss/(gain) on extinguishment of debt	(169,932,886)	(9,620,914)
Other receivables	(14,125)	634,819	168,246
Other payable and accrued liabilities	93,426,988	53,426,168	4,000,802
Payroll and welfare payables	(381)	(460,149)	1,363,218
Net cash provided by/(used in) operating activities	(10,345,629)	(51,055,915)	(119,429,607)
Cash flows from investing activities:
Investment in short-term investments			(72,502,807)
Net cash (used in)/provided by investing activities			(72,502,807)
Cash flows from financing activities:
Changes in due from subsidiaries	17,823,271	54,889,206	447,436,262
Repayment of current portion of long-term bank loan and other long-term debt	(10,791,800)		(128,520,000)
Proceeds from other long-term debts			270,000,000
Repayment of other long-term debts		(1,199,086)	(390,958,220)
Purchase of treasury shares	(731,871)
Dividends to shareholders			(4,055,664)
Payment of financing cost			(4,272,797)
Proceeds from issuance of common shares	1,595,830
Net cash used in financing activities	7,895,430	53,690,120	189,629,581
Net (decrease)/increase in cash and cash equivalents	(2,450,199)	2,634,205	(2,302,833)
Cash and cash equivalents, at the beginning of the year	2,794,414	160,209	2,463,042
Cash and cash equivalents, at end of the period	$ 344,215	$ 2,794,414	$ 160,209

Long-term investments (Tables)

12 Months Ended

Dec. 31, 2023

Long-term investments

Schedule of long-term investments

As of December 31, 2022 and 2023, the long-term investments consisted of the following:


				December 31,
	Initial Cost	Ownership		2022
	US$			US$
Nonmarketable equity securities
Zhengzhou Lianhe Real Estate Co., Ltd.	241,648	1.85	%	287,167
Zhengzhou Taike Real Estate Co., Ltd.	738,073	3.75	%	—
Equity method investees
Qingdao Huiju Zhihui City Industrial Development Co., Ltd.	523,459,957	49	%	—
Madison Developments Limited.	19,095,969	50	%	—
Wuhu Penghong Investment Center (Limited Partnership)	61,998,960	n/a		26,784,584
Suzhou Rongjingchen Real Estate Co., Ltd	42,041,464	24	%	19,078,393
Others	68,076,387	n/a		46,323,185
Total				92,473,329


				December 31,
	Initial Cost	Ownership		2023
	US$			US$
Nonmarketable equity securities
Zhengzhou Lianhe Real Estate Co., Ltd.	241,648	1.85	%	282,378
Zhengzhou Taike Real Estate Co., Ltd.	738,073	3.75	%	—
Equity method investees
Qingdao Huiju Zhihui City Industrial Development Co., Ltd.	523,459,957	49	%	—
Madison Developments Limited.	19,095,969	50	%	—
Wuhu Penghong Investment Center (Limited Partnership)	61,998,960	n/a		14,095,331
Suzhou Rongjingchen Real Estate Co., Ltd	42,041,464	24	%	21,867,621
Others	68,076,387	n/a		37,542,413
Total				73,787,743

Schedule of equity method investees


		December 31,
		2023
		US$
		(in thousands)
Current assets		438,421
Non-current assets		52,132
Current liabilities		94,627
Non-current liabilities		281,668
Non-controlling interest		—
Gross revenue		199,758
Gross profit		19,472
Loss from continuing operations		(14,114)
Net loss		(12,019)
Net loss attributable to the Company		(17,914)

Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income taxes

Schedule of income before income tax expenses

Income before income tax expense consisted of:


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
PRC	(274,761,993)	(33,822,942)	43,313,793
Non-PRC	(145,780,649)	(215,618,321)	42,493,369
Total	(420,542,642)	(249,441,263)	85,807,162

Schedule of income tax expenses

Income tax expense for the years ended December 31, 2021, 2022 and 2023 is summarized as follows:


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
Current:
CIT tax (benefit)/expense	15,227,110	42,948,974	75,387,486
LAT expense	39,101,310	26,862,350	70,422,049
Deferred tax expense/(benefit)	(61,608,948)	(60,569,862)	(90,534,084)
Income tax expense/(benefit)	(7,280,528)	9,241,462	55,275,451

Schedule of Effective Income Tax Rate Reconciliation

The Group’s income tax expense differs from the tax expense computed by applying PRC statutory CIT rate of 25% for the years ended December 31, 2021, 2022 and 2023 as follows:


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
CIT at rate of 25%	(105,135,661)	(62,360,316)	21,451,790
Tax effect of non-taxable income	(3,729,808)	(20,815,682)	(7,508,336)
Tax effect of non-deductible expenses	55,981,806	8,849,339	(3,025,167)
Unrecognized tax benefits	—	—	(12,673,506)
LAT expense	39,101,310	26,862,350	70,422,049
CIT benefit of LAT	(9,775,327)	(6,715,587)	(17,605,512)
Changes in valuation allowance	13,925,825	31,860,999	24,493,566
International rate differences	14,983,887	42,918,080	(18,620,948)
Dividend and interest withholding taxes	(17,148,376)	889,259	(321,096)
Adjustment of estimated income tax accruals	3,085,497	(8,220,977)	(1,315,644)
Others	1,430,320	(4,026,003)	(21,745)
Income tax expense/(benefit)	(7,280,528)	9,241,462	55,275,451

Schedule of Reconciliation of Unrecognized Tax Benefits

The following table summarizes the activities related to the Group’s unrecognized tax benefits:


	2021	2022	2023
	US$	US$	US$
Balance at January 1	101,198,970	130,560,908	135,562,075
Additions for tax positions of current year	29,025,853	6,295,454	23,209,764
Reclassification from prior year tax payable	—	—	—
Reductions for tax positions of prior years	—	—	(42,880,080)
Movement in current year due to foreign exchange rate fluctuation	336,085	(1,294,287)	(12,844,072)
Balance at December 31	130,560,908	135,562,075	103,047,687

Schedule of deferred tax assets and liabilities

The tax effects of temporary differences that give rise to the Group’s deferred tax assets and liabilities as of December 31, 2022 and 2023 are as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Deferred tax assets:
Tax loss carried forward	94,579,348	65,880,222
Accruals and provisions	122,380,636	126,741,964
Capitalized expenses	78,506,854	84,831,071
Revenue recognition at a point in time less tax paid under deemed profit method	(28,086,617)	(32,803,744)
Revenue recognition of real estate lease income on a straight-line basis	322,923	(1,572,986)
Deemed interest expense	115,181,923	96,240,973
Operating lease liability	1,772,742	641,645
Less: Valuation allowance	(18,168,615)	(18,099,350)
Total deferred tax assets, net of valuation allowance	366,489,194	321,859,795
Deferred tax liabilities:
Revenue recognition over time	(149,855,853)	(85,213,884)
Taxable temporary differences arising from asset acquisitions	(294,617,076)	(256,323,009)
Dividend and interest withholding taxes	(46,048,264)	(44,200,493)
Operating lease right-of-use assets	(1,426,996)	(403,906)
Total deferred tax liabilities	(491,948,189)	(386,141,292)

(Loss)/income per share

12 Months Ended

Dec. 31, 2023

(Loss)/income per share

(Loss)/income per share

19. (Loss)/income per share

Basic and diluted net (loss)/income per share for each period presented are calculated as follows:


	December 31,
	2021	2022	2023
	US$	US$	US$
Numerator:
Net (loss)/income attributable to Xinyuan Real Estate Co., Ltd. Shareholders - basic and diluted	(417,307,378)	(263,353,561)	40,282,025
Denominator:
Weighted average number of shares outstanding-basic*	107,283,420	107,849,225	106,686,376
Stock options	—	—	—
Restricted stock units	—	—	—
Weighted average number of shares outstanding-diluted	107,283,420	107,849,225	106,686,376
Basic (loss)/income per share	(3.89)	(2.44)	0.38
Diluted (loss)/income per share	(3.89)	(2.44)	0.38

During the year ended December 31, 2023, nil (2021: nil; 2022: nil) stock options, and nil (2021: 81,035; 2022: nil) RSUs were excluded from the calculation of earnings per share, respectively, because their effect would be anti-dilutive.

Other payables and accrued liabilities

12 Months Ended

Dec. 31, 2023

Other payables and accrued liabilities

Other payables and accrued liabilities

16. Other payables and accrued liabilities

The components of other payables and accrued liabilities were as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Contract deposit	172,775,614	221,148,610
Accrued expenses	72,958,539	46,365,405
Deed tax and maintenance fund withheld for customers	14,739,762	15,079,138
Bidding deposit	3,665,749	3,331,250
Welfare payable	1,483,484	1,458,748
Other tax payable	24,924,141	20,392,535
Accrued aircraft operating expense	1,381,785	1,488,258
Accrued interest expense	153,330,358	287,028,427
Purchase consideration payable for asset acquisitions and business combinations	31,108,067	33,275,049
Others	13,255,294	29,934,437

Total	489,622,793	659,501,859

Related party and employee transactions - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($) item	Dec. 31, 2018 USD ($) item
Director
Related Party Transaction [Line Items]
Director's remuneration amount	$ 3,572,912	$ 4,012,619	$ 6,447,214
Related Parties, Excluding Employees
Related Party Transaction [Line Items]
Other receivables	192,626,511	203,719,058
Employees
Related Party Transaction [Line Items]
Other receivables	$ 1,038,494	$ 1,466,055
Key Management Personnel \| Eight real estate project companies sold
Related Party Transaction [Line Items]
Number of real estate project companies sold \| item				8	8
Total consideration				$ 604,914	$ 8,720,772
Key Management Personnel \| Eight real estate project companies sold \| Maximum
Related Party Transaction [Line Items]
Percentage of ownership sold				5.59%	5.54%
Key Management Personnel \| Eight real estate project companies sold \| Minimum
Related Party Transaction [Line Items]
Percentage of ownership sold				0.57%	0.50%
Key Management Personnel \| One real estate project companies sold
Related Party Transaction [Line Items]
Percentage of ownership sold				6.03%
Number of real estate project companies sold				1
Total consideration				$ 1,300,135

Other payables and accrued liabilities (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Other payables and accrued liabilities
Contract deposit	$ 221,148,610	$ 172,775,614
Accrued expenses	46,365,405	72,958,539
Deed tax and maintenance fund withheld for customers	15,079,138	14,739,762
Bidding deposit	3,331,250	3,665,749
Welfare payable	1,458,748	1,483,484
Other tax payable	20,392,535	24,924,141
Accrued aircraft operating expense	1,488,258	1,381,785
Accrued interest expense	287,028,427	153,330,358
Purchase consideration payable for asset acquisitions and business combinations	33,275,049	31,108,067
Others	29,934,437	13,255,294
Total	$ 659,501,859	$ 489,622,793

Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of contract with customer, asset and liability


	December 31,	December 31,
	2022	2023
Contract assets	52,515,766	34,255,318
Customer deposits (Note 14)	1,280,517,005	740,013,355

Schedule of useful lives


Corporate aircraft		15 years
Vehicles		5 years
Furniture and fixtures		5 years
Office buildings		20‑60 years

Schedule of interest expense


	2021	2022	2023
	US$	US$	US$
Amortization of issuance cost related to long-term debt	7,641,101	9,311,710	6,722,387
Interest expense of finance leases	64,549	69,672	—
Interest on borrowings	310,767,482	237,293,974	237,307,045
Total interest costs	318,473,132	246,675,356	244,029,432
Total interest costs capitalized	(135,074,360)	(88,666,945)	(67,089,115)
Interest expense, net	183,398,772	158,008,411	176,940,317

Beijing Yuzhouyun Technology Development Center [Member]

Schedule of information related to VIE's

The carrying amounts and classifications of the assets and liabilities of Yuzhouyun were as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Current assets	174,470	(10,484)
Non-current assets	2,873,855	2,922,037
Total assets	3,048,325	2,911,553

Current liabilities	17,699,203	21,353,225
Non-current liabilities	10,337,995	6,847,671
Total liabilities	28,037,198	28,200,896

The financial performance and cash flows of Yuzhouyun were as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Revenue	244,130	10,731
Cost of revenue	(2,534,745)	(947,551)
Net loss	(2,539,202)	(721,263)
Net cash provided by operating activities	2,671,405	3,140,065
Net cash used in investing activities	—	—
Net cash used in financing activities	(2,700,960)	(3,124,002)

RuizhuoXihui [Member]

Schedule of information related to VIE's

The carrying amounts and classifications of the assets and liabilities of Ruizhuo Xihui were as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Current assets	2,621,527	2,566,273
Non-current assets	(10,806)	(10,626)
Total assets	2,610,721	2,555,647

Current liabilities	2,619,769	2,533,801
Total liabilities	2,619,769	2,533,801

The financial performance and cash flows of Ruizhuo Xihui were as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Revenue	235,890	—
Cost of revenue	(64,034)	—
Net income	31,287	30,919
Net cash used in operating activities	(13,900)	(24)
Net cash used in investing activities	—	—
Net cash used in financing activities	—	—

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Real estate properties held for lease, net

12 Months Ended

Dec. 31, 2023

Real estate properties held for lease, net

Real estate properties held for lease, net

6. Real estate properties held for lease, net

The Group leases its owned buildings to various third parties, including elementary schools, basement parking, kindergartens, parking facilities, clubhouses as well as a shopping mall. These leases are non-cancelable operating leases with remaining lease periods that vary from 25 days to 20 years. The leases may include minimum base rents with escalated contingent rent clauses.


	December 31,	December 31,
	2022	2023
	US$	US$
Elementary schools	3,062,464	3,011,399
Basement parking	6,899,693	6,458,198
Kindergartens	4,174,550	4,104,942
Parking facilities	74,803,844	55,336,381
Clubhouses	7,698,981	7,570,605
Shopping mall	258,828,780	267,753,895
Residential properties	73,295,345	49,585,754
Total costs	428,763,657	393,821,174
Accumulated depreciation	(55,295,790)	(71,269,173)
Real estate properties held for lease, net	373,467,867	322,552,001

The Group has shopping mall equipment with gross amounts of US$ nil acquired under finance lease as of December 31, 2022 and 2023.

Depreciation expense for real estate properties held for lease for the year ended December 31, 2023 amounted to US$11,227,812 (2022: US$7,709,696).

As of December 31, 2023, US$278,724,872 of real estate properties held for lease was pledged as collateral for certain bank loans and other debts (2022: US$137,103,470).

As of December 31, 2023, minimum future rental income on non-cancellable leases (none of which contains any contingent rental clauses), in the aggregate and for each of the five succeeding fiscal years and thereafter, is as follows:


Year		Amount
		US$
2024		19,800,349
2025		18,814,705
2026		16,486,897
2027		14,573,904
2028 and thereafter		117,928,803
Total		187,604,658

Short-term bank loans and other debt - Short-term bank loans and other debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Short-term bank loans and other debt
Short-term bank loans and other debt	$ 63,295,071	$ 81,598,369
Loan from Hua Xia Bank Co., Ltd. \| Loan from Hua Xia Bank Co Ltd Due July 10, 2022 at 7.00% per annum
Short-term bank loans and other debt
Maturity date	Mar. 21, 2023
Stated rate	7.00%
Loan from Hua Xia Bank Co., Ltd. \| Loan from Hua Xia Bank Co Ltd Due June 11, 2023 at 7.00% per annum
Short-term bank loans and other debt
Maturity date	Mar. 21, 2023
Stated rate	7.00%
Loan from Hua Xia Bank Co., Ltd. \| Loan From Hua Xia Bank Co Ltd Due March 21 2023 at 7.00 per annum
Short-term bank loans and other debt
Short-term bank loans and other debt	$ 3,953,295	4,020,331
Loan from Hua Xia Bank Co., Ltd. \| Loan From Hua Xia Bank Co Ltd Due March 21 2023 at 7.00 Per annum
Short-term bank loans and other debt
Short-term bank loans and other debt	0	11,486,661
Loan from Hua Xia Bank Co., Ltd. \| Loan from Hua Xia Bank Co., Ltd. Due March 30, 2023 at 8.00% per annum
Short-term bank loans and other debt
Short-term bank loans and other debt	$ 0	5,743,331
Maturity date	Mar. 30, 2023
Stated rate	8.00%
Loan from Everbright Bank \| Loan from Everbright Bank Due October 19, 2023 at 8.00% per annum
Short-term bank loans and other debt
Short-term bank loans and other debt	$ 4,207,435	4,278,781
Maturity date	Oct. 19, 2022
Stated rate	7.83%
Loan from Henan Zhongyuan Microfinance Co., Ltd \| Loan from Henan Zhongyuan Microfinance Co., Ltd Due July 29, 2023, at 11.00% per annum
Short-term bank loans and other debt
Short-term bank loans and other debt	$ 4,165,078	4,235,706
Maturity date	Jul. 13, 2023
Stated rate	11.00%
Loan from Beijing Dingcheng Pawnshop Co., Ltd \| Loan from Beijing Dingcheng Pawnshop Co., Ltd Due March 9, 2023 at 19.20% per annum
Short-term bank loans and other debt
Maturity date	Sep. 09, 2022
Stated rate	18.00%
Loan from Beijing Dingcheng Pawnshop Co., Ltd \| Loan from Beijing Dingcheng Pawnshop Co., Ltd Due September 9, 2022 at 19.20% per annum
Short-term bank loans and other debt
Short-term bank loans and other debt	$ 1,553,080	1,579,416
Loan from Bank of Zhengzhou \| Loan from Bank of Zhengzhou Due March 28, 2023, at 6.50% per annum
Short-term bank loans and other debt
Short-term bank loans and other debt	$ 49,416,183	$ 50,254,143
Maturity date	Mar. 28, 2023
Stated rate	4.75%

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases

Schedule of lease recorded on the consolidated balance sheets


	December 31,	December 31,
	2022	2023
	US$	US$
Lease Assets
Finance lease assets
Property and equipment, net	—	—
Real estate properties held for lease, net	—	—
Total	—	—
Operating lease ROU assets	5,707,986	1,615,626

Lease Liabilities
Current
Current portion of finance lease	—	—
Current portion of operating lease	3,780,853	2,228,329
Total	3,780,853	2,228,329
Non-current
Finance lease, net of current portion	—	—
Operating lease, net of current portion	3,310,116	338,252
Total	3,310,116	338,252

Schedule of components of lease expense


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Operating lease cost:
Operating lease cost	3,497,729	2,528,841
Short-term lease cost	710,161	508,273
Finance lease cost:
Amortization of finance lease assets	—	—
Interest on the lease liabilities	69,672	—

Total lease cost	4,277,562	3,037,114

Schedule of supplemental cash flow information


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Operating cash flows for operating leases	3,996,599	1,996,744
Operating cash flows for finance leases	—	—
Financing cash flows for finance leases	5,207,694	—

Schedule of maturities of lease liabilities


	December 31,
	2023
	Finance Leases	Operating Leases
	US$	US$
Year ending December 31, 2024	—	2,106,680
Year ending December 31, 2025	—	509,924
Year ending December 31, 2026	—	267,157
Year ending December 31, 2027	—	65,876
Total lease payments	—	2,949,638
Less: imputed interest	—	(145,230)
Present value of lease liabilities	—	2,804,408

Schedule of other supplemental information related to lease terms and discount rates


	December 31,		December 31,
	2022		2023
Weighted-average remaining lease term (years)
Operating leases	2.03		1.79
Finance leases	—		—
Weighted-average discount rate
Operating leases	7.42	%	6.48	%
Finance leases	—	%	—

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Total revenue	$ 804,974,475	$ 950,012,173	$ 1,536,017,781
Costs of revenue:
Cost of real estate lease income	(33,920,221)	(20,287,953)	(22,438,180)
Total costs of revenue	(672,509,119)	(878,056,065)	(1,468,080,865)
Gross profit	132,465,356	71,956,108	67,936,916
Selling and distribution expenses	(9,927,659)	(29,458,486)	(90,569,390)
General and administrative expenses	(74,244,144)	(96,106,518)	(163,410,021)
Gain on disposal of property held for lease		5,687,312	(18,651,259)
Impairment loss on goodwill		(1,481,006)	(4,355,469)
Impairment loss on intangible assets			(14,295,790)
Operating (loss) /income	48,293,553	(49,402,590)	(204,693,754)
Interest income	4,779,314	8,207,327	28,296,824
Interest expense	(176,940,318)	(158,008,411)	(183,398,772)
Gain on extinguishment of debt	169,932,886	9,620,914	0
Loss on short-term investments	(7,626,097)	(71,675,454)	(30,203,357)
Share of (loss)/gain in an equity investee	(17,914,070)	(26,166,538)	(23,345,765)
Exchange (loss) /gains	13,482,057	39,952,338	(9,707,463)
Gain on modification of debt	26,372,965
Other (loss) /income	25,426,872	(1,968,849)	2,509,645
Income /(loss) from operations before income taxes	85,807,162	(249,441,263)	(420,542,642)
Income taxes benefit/ (expenses)	(55,275,451)	(9,241,462)	7,280,528
Net income/(loss)	30,531,711	(258,682,725)	(413,262,114)
Net (loss)/income attributable to non-controlling interest	9,750,314	(4,670,836)	(4,045,264)
Net (loss)/income attributable to Xinyuan Real Estate Co., Ltd. shareholders	$ 40,282,025	$ (263,353,561)	$ (417,307,378)
(Loss)/income per share:
Basic	$ 0.38	$ (2.44)	$ (3.89)
Diluted	$ 0.38	$ (2.44)	$ (3.89)
Shares used in computation:
Basic	106,686,376	107,849,225	107,283,420
Diluted	106,686,376	107,849,225	107,283,420
Foreign currency translation adjustments	$ (6,770,114)	$ (67,014,536)	$ 20,861,635
Comprehensive income/(loss)	23,761,597	(325,697,261)	(392,400,479)
Comprehensive income/(loss) attributable to non-controlling interest	11,532,734	5,804,943	(7,088,744)
Comprehensive (loss)/income attributable to Xinyuan Real Estate Co., Ltd. shareholders	35,294,331	(319,892,318)	(399,489,223)
Real estate sales
Revenue:
Revenue	658,073,173	809,412,923	1,392,240,005
Costs of revenue:
Cost of revenue	(557,662,795)	(768,356,253)	(1,359,344,416)
Real estate management services income
Revenue:
Revenue	93,676,874	105,460,071	109,822,206
Costs of revenue:
Cost of revenue	(72,310,054)	(79,609,736)	(73,978,205)
Real estate lease income
Revenue:
Real estate lease income	37,218,451	20,782,612	19,781,344
Other revenue
Revenue:
Revenue	16,005,977	14,356,567	14,174,226
Costs of revenue:
Cost of revenue	$ (8,616,049)	$ (9,802,123)	$ (12,320,064)

Concentration of risk (Details)	12 Months Ended			209 Months Ended
Concentration of risk (Details)	Dec. 31, 2023 USD ($) item contract	Dec. 31, 2022 USD ($) item	Dec. 31, 2021 item	Dec. 31, 2022 USD ($)
Concentration of risk
Exchange rate appreciation				14.40%
Outstanding guarantees of mortgages	$ 1,926,400,000
Payment of guarantee obligations related to customer defaults	2,300,000
Credit Concentration Risk Receivables	$ 0	$ 0		$ 0
Number of Sales Contracts of Apartments \| contract	1,457
Number Of Customer Or Supplier Accounted For More Than 10 Percentage Of Revenue Or Project Expenditures \| item	0	0	0

Condensed financial information of the Company - Condensed Statements of Comprehensive Loss (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
General and administrative expenses	$ (74,244,144)	$ (96,106,518)	$ (163,410,021)
Operating loss	48,293,553	(49,402,590)	(204,693,754)
Interest expense	(176,940,318)	(158,008,411)	(183,398,772)
Interest income	4,779,314	8,207,327	28,296,824
Net gain on debt extinguishment	169,932,886	9,620,914	0
Gain/(loss) on short-term investments	(7,626,097)	(71,675,454)	(30,203,357)
Other expenses/(income)	25,426,872	(1,968,849)	2,509,645
Income /(loss) from operations before income taxes	85,807,162	(249,441,263)	(420,542,642)
Income taxes benefit/ (expenses)	(55,275,451)	(9,241,462)	7,280,528
Net (loss)/income attributable to Xinyuan Real Estate Co., Ltd. shareholders	40,282,025	(263,353,561)	(417,307,378)
Other comprehensive income/(loss), net of tax of nil
Foreign currency translation adjustments	(6,770,114)	(67,014,536)	20,861,635
Comprehensive (loss)/income attributable to Xinyuan Real Estate Co., Ltd. shareholders	35,294,331	(319,892,318)	(399,489,223)
Parent Company
Condensed Financial Statements, Captions [Line Items]
General and administrative expenses	(1,962,954)	(4,993,180)	(4,965,230)
Operating loss	(1,962,954)	(4,993,180)	(4,965,230)
Interest expense	(116,296,860)	(107,459,673)	(121,289,406)
Interest income	1,102	1,139	545,599
Net gain on debt extinguishment	169,932,886	9,620,914
Gain/(loss) on short-term investments	(660,022)	(68,931,940)	(1,627,139)
Other expenses/(income)	6,760,754	1,395,668	(878,154)
Equity in profit/(loss) of subsidiaries, net	(17,492,881)	(92,986,489)	(289,093,048)
Income /(loss) from operations before income taxes	40,282,025	(263,353,561)	(417,307,378)
Net (loss)/income attributable to Xinyuan Real Estate Co., Ltd. shareholders	40,282,025	(263,353,561)	(417,307,378)
Other comprehensive income/(loss), net of tax of nil
Other comprehensive income/(loss), tax	0	0	0
Foreign currency translation adjustments	(4,987,693)	(56,538,757)	17,818,154
Comprehensive (loss)/income attributable to Xinyuan Real Estate Co., Ltd. shareholders	$ 35,294,332	$ (319,892,318)	$ (399,489,224)

Long-term investments (Details) - USD ($)	12 Months Ended
Long-term investments (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 31, 2022	Jun. 15, 2021	Jul. 31, 2019	Mar. 31, 2019	Mar. 21, 2018	Sep. 04, 2017	Apr. 19, 2017
Long-term investments
Nonmarketable equity securities	$ 5,516,773	$ 66,775,423
Total	73,787,743	92,473,329
Equity Method Investment Difference Between Aggregate Investment And Proportionate Share Of Net Assets	0	0
Share of (loss)/gain in an equity investee	(17,914,070)	(26,166,538)	$ (23,345,765)
Beijing Huiju
Long-term investments
Received refund of transferred		98,700,000
Zhengzhou Lianhe Real Estate Co., Ltd.
Long-term investments
Nonmarketable equity securities, Initial Cost	$ 241,648	$ 241,648
Nonmarketable equity securities, Ownership	1.85%	1.85%
Nonmarketable equity securities	$ 282,378	$ 287,167
Zhengzhou Taike Real Estate Co., Ltd.
Long-term investments
Nonmarketable equity securities, Initial Cost	$ 738,073	$ 738,073
Nonmarketable equity securities, Ownership	3.75%	3.75%
Nonmarketable equity securities	$ 0	$ 0
Qingdao Huiju Zhihui City Industrial Development Co., Ltd.
Long-term investments
Equity method investees	0	0
Equity method investees, Initial Cost	$ 523,459,957	$ 523,459,957									$ 505,200,000
Equity Method Investees, Ownership	49.00%	49.00%		49.00%	21.00%
Equity method investees, Initial Cost				$ 505,200,000
Qingdao Huiju Zhihui City Industrial Development Co., Ltd. \| Maximum
Long-term investments
Equity Method Investees, Ownership											70.00%
Qingdao Huiju Zhihui City Industrial Development Co., Ltd. \| Beijing Huiju
Long-term investments
Transfer of remaining ownership percentage, as required by the legal action (as a percent)	21.00%
Refund of unauthorized transfer of cash, as required by the legal action	$ 98,700,000
Cash frozen								$ 98,700,000
Legal action final refund unauthorized cash						$ 98,700,000
Madison Developments Limited
Long-term investments
Equity method investees	0	$ 0
Equity method investees, Initial Cost	$ 19,095,969	$ 19,095,969							$ 19,100,000
Equity Method Investees, Ownership	50.00%	50.00%							50.00%
Wuhu Penghong Investment Center (Limited Partnership)
Long-term investments
Equity method investees	$ 14,095,331	$ 26,784,584
Equity method investees, Initial Cost	61,998,960	61,998,960								$ 30,600,000
Wuhu Penghong Investment Center (Limited Partnership) \| Partner One
Long-term investments
Equity method investees, Initial Cost			$ 31,400,000							91,800,000
Wuhu Penghong Investment Center (Limited Partnership) \| Partner Two
Long-term investments
Equity method investees, Initial Cost										$ 3,100,000
Suzhou Rongjingchen Real Estate Co., Ltd
Long-term investments
Equity method investees	21,867,621	19,078,393
Equity method investees, Initial Cost	$ 42,041,464	$ 42,041,464					$ 42,000,000.0
Equity Method Investees, Ownership	24.00%	24.00%					24.00%
Others
Long-term investments
Equity method investees	$ 37,542,413	$ 46,323,185
Equity method investees, Initial Cost	$ 68,076,387	$ 68,076,387

Summary of significant accounting policies - Interest Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of significant accounting policies
Amortization of issuance cost related to long-term debt	$ 6,722,387	$ 9,311,710	$ 7,641,101
Interest expense of finance leases		69,672	64,549
Interest on borrowings	237,307,045	237,293,974	310,767,482
Total interest costs	244,029,432	246,675,356	318,473,132
Total interest costs capitalized	(67,089,115)	(88,666,945)	(135,074,360)
Interest expense, net	$ 176,940,317	$ 158,008,411	$ 183,398,772

Commitments and contingencies (Details)	12 Months Ended
Commitments and contingencies (Details)	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Other commitments
2024	$ 531,196,138
2025	470,273,059
2026	107,110,957
2027	39,052,653
2028 and thereafter	0
Total	1,147,632,807
Financial Guarantee
Other commitments
Aggregate amount of guarantee	$ 1,926,419,080	$ 2,110,456,012	$ 2,156,348,238
Real Estate Ownership Period	six to twelve months
Payments to satisfy guarantee obligations	$ 2,286,938	4,068,840	$ 3,723,398
Provisions for Guarantee	0
Maximum exposure to credit loss	$ 202,187,414	$ 226,755,305
Number of equity method investees for whom financial guarantees provided \| item	4

Equity

12 Months Ended

Dec. 31, 2023

Equity

Equity

18. Equity

(i)

As at December 31, 2023, the Company’s authorized share capital was 500 million common shares, par value US$0.0001 per share (December 31, 2022: 500 million common shares).

(ii)

During the year ended December 31, 2023, 5,756,200 common shares were repurchased at a total cost of US$793,123.

(iii)

During the year ended December 31, 2023, no dividend was distributed.

(iv)

In December 2023, the Company issued 11,398,784 common shares for US$0.14 per share, for total cash proceeds of US$1,595,830 to Central Plains Ltd.

All other equity transactions have been disclosed in consolidated statement of changes in shareholders’ equity.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Share-based compensation

12 Months Ended

Dec. 31, 2023

Share-based compensation

Share-based compensation

15. Share-based compensation

As of December 31, 2023, the Company primarily had four share-based compensation plans under which awards may be granted to both employees and non-employees, namely, the 2007 Long Term Incentive Plan (the “2007 Plan”), 2015 Long Term Incentive Plan (the “2015 Plan”), 2014 Restricted Stock Unit Plan (the “2014 RSU Plan”) and 2020 Restricted Stock Unit Plan (the “2020 RSU Plan”). On January 31, 2019, Xinyuan Property Management Service (Cayman) Ltd., a subsidiary of the Company, approved a restricted share award scheme (the “Scheme”). On September 28, 2019, the Company approved the employee stock option plan of Xinchuang Technology Co. Ltd. (“Xinchuang Technology”). Compensation cost of US$nil (2021: US$3,413,610; 2022: US$568,047) was recorded in general and administrative expenses with a corresponding credit to additional paid-in capital in the year ended December 31, 2023. The compensation cost is primarily regarded as a permanent difference for income tax purposes as relevant equity awards were mainly granted by the Company and a subsidiary, which are registered in the Cayman Islands, a tax-free jurisdiction. Hence, no tax benefit was recognized upon the recognition of compensation cost. The Company has a policy of using authorized shares in the existing pool to satisfy any future exercise of share options and shares repurchased held by a third-party trustee to satisfy the RSUs granted under the 2014 RSU Plan and 2020 RSU plan.

2007 Plan

In November 2007, the Company adopted the 2007 Plan which provides for the grant of options, restricted shares, restricted stock units, stock appreciation rights and other stock-based awards to purchase its common shares. The maximum aggregate number of common shares which may be issued pursuant to all awards, including options, is 10 million common shares, subject to adjustment to account for changes in the capitalization of the Company.

Under the 2007 Plan, the Company granted share options with service conditions to purchase common shares to employees, at an exercise price ranging from US$1.085 to US$1.81 per option. These options have a weighted average grant date fair value of US$0.36 to US$0.61 per option and the total expected compensation cost has considered the expected forfeitures. These options generally have vesting periods based on length of service of 36 months and will expire no later than 2025.

2015 Plan

In June 2015, the Company approved the 2015 Plan to provide grant of options to purchase shares of Company stock with maximum aggregate number of 20 million common shares, subject to adjustment to account for changes in the capitalization of the Company.

On July 1, 2015, under the 2015 Plan, the Company granted share options with service conditions to purchase up to 6,574,600 common shares to 22 employees, at an exercise price of US$1.71 per share. These options have a weighted average grant date fair value of US$0.48 per option and a total expected compensation cost, net of expected forfeitures, of US$3,165,867. These options have vesting periods based on length of service of 34 months and will expire no later than July 1, 2025.

On July 29, 2015, under the 2015 Plan, the Company granted share options with service conditions to purchase up to 81,600 common shares to one employee, at an exercise price of US$1.71 per share. These options have a weighted average grant date fair value of US$0.42 per option and a total expected compensation cost, net of expected forfeitures, of US$34,294. These options have vesting periods based on length of service of 33 months and will expire no later than July 29, 2025.

No options were granted during the years ended December 31, 2022 and 2023, for 2007 Plan and 2015 Plan.

Assumptions

The fair value of each option is estimated on the date of grant using the Dividend Adjusted Black-Scholes option-pricing model that uses the assumptions noted below.


	Options		Options
	Granted in		Granted in
	2015		2015
	Under the		Under the
	2007 Plan		2015 Plan
Average risk-free rate of return	1.82‑1.92	%	1.57‑1.92	%
Expected term	6 Years		6 Years
Volatility rate	46.3‑55.2	%	55.0‑55.9	%
Dividend yield	5	%	5	%

The risk-free rate for periods within the expected life of the option is based on the implied yield rates of U.S treasury yield curve in effect at the time of grant. The expected life of options represents the period of time the granted options are expected to be outstanding. The Company had limited historical exercise data. Therefore, the expected life was estimated as the average of the contractual term and the vesting period. The dividend yield was based on the Company’s dividend distribution plan. The expected volatility was based on the historical daily stock price of the Company, annualized.

Share Option Activity

As of January 1, 2023, all options granted under 2007 Plan were fully vested. The following table is a summary of the Company’s share option activity under the 2007 Plan (in US$, except options):


		Weighted	Weighted
		Average	Remaining
	Number of	Exercise	Contractual	Aggregate
Options Under the 2007 Plan	Options	Price	Life (Years)	Intrinsic Value

Outstanding, January 1, 2023
1.21 (exercise price)	39,400	1.21	1.50	—
Outstanding and Exercisable, December 31, 2023
1.21 (exercise price)	39,400	1.21	0.50	—

The aggregate intrinsic value in the table above represents the total intrinsic value (the aggregate difference between the Company’s closing stock price of US$0.20 per common share as of December 31, 2023 and the exercise price for in-the-money options) that would have been received by the option holders if all in-the-money options had been exercised on December 31, 2023. As of December 31, 2023, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted to employees, under the 2007 Plan. Total fair value of options vested was nil during the year ended December 31, 2021, 2022 and 2023, respectively.

As of January 1, 2023, all options granted under 2015 Plan were fully vested, with no option exercised or forfeited during 2023. There were no new options granted during the year ended December 31, 2023. The following table is a summary of the Company’s share option activity under the 2015 Plan (in US$, except options):


		Weighted	Weighted
		Average	Remaining
	Number of	Exercise	Contractual	Aggregate
Options Under the 2015 Plan	Options	Price	Life (Years)	Intrinsic Value

Outstanding, January 1, 2023
1.71(exercise price)	2,796,734	1.71	2.50	—
Forfeited
1.71 (exercise price)	81,600	1.71	—	—
Outstanding and Exercisable, December 31, 2023
1.71(exercise price)	2,715,134	1.71	1.50	—

The aggregate intrinsic value in the table above represents the total intrinsic value (the aggregate difference between the Company’s closing stock price of US$0.20 per common share as of December 31, 2023 and the exercise price for in-the-money options) that would have been received by the option holders if all in-the-money options had been exercised on December 31, 2023. As of December 31, 2023, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted to employees, under the 2015 Plan. Total fair value of options vested was nil during the year ended December 31, 2021, 2022 and 2023, respectively.

2014 RSU Plan

On May 23, 2014, the Board of Directors approved the 2014 RSU Plan, which is administered by the Compensation Committee of the Board of Directors. The 2014 RSU Plan provides for discretionary grants of restricted stock units, or RSUs, to or for the benefit of participating employees. The maximum number of common shares that may be delivered to 2014 RSU Plan participants in connection with RSUs granted under the 2014 RSU Plan is 10,000,000, subject to adjustment if the Company’s outstanding common shares are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through a reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction.

On May 23, 2014, the Company established a trust that is governed by a third-party trustee and deposited US$7,042,725 into the trust. The trustee used the funds to acquire 4,234,884 common shares in the open market. Repurchased shares were granted to certain employees and awards vest ratably over a three-year service vesting period. The aggregate fair value of the restricted shares granted at the grant date shall be recognized as compensation expense using the straight-line method.

On April 10, 2015, under the 2014 RSU Plan, the Company deposited US$3,259,998 into the trust. The trustee used the funds to acquire 2,076,964 common shares from the open market. The awards vest ratably over a three-year service vesting period. The aggregate fair value of the restricted shares granted at the grant date shall be recognized as compensation expense using the straight-line method.

On April 18, 2016, under the 2014 RSU Plan, the Company deposited US$4,003,999 into the trust. The trustee used the funds to acquire 1,614,220 common shares from the open market. The awards vest ratably over a three-year service vesting period. The aggregate fair value of the restricted shares granted at the grant date shall be recognized as compensation expense using the straight-line method.

On July 27, 2017, under the 2014 RSU Plan, the Company deposited US$3,485,952 into the trust. The trustee had not used the funds to acquire any common shares from the open market as of December 31, 2017. The awards vest ratably over a three-year service vesting period. The aggregate fair value of the restricted shares granted at the grant date shall be recognized as compensation expense using the straight-line method. The trustee had used the funds to acquire 1,356,584 common shares from the open market as of December 31, 2018.

On July 30, 2018, under the 2014 RSU Plan, the Company deposited US$3,976,660 into the trust. The trustee had used the funds to acquire 1,732,466 common shares from the open market as of December 31, 2018. The awards vest ratably over a three-year service vesting period. The aggregate fair value of the restricted shares granted at the grant date shall be recognized as compensation expense using the straight-line method.

On August 30, 2019, under the 2014 RSU Plan, the Company deposited US$2,912,539 into the trust. The trustee had used the funds to acquire 1,438,076 common shares from the open market as of December 31, 2019. The awards vest ratably over a three-year service vesting period. The aggregate fair value of the restricted shares granted at the grant date shall be recognized as compensation expense using the straight-line method.

No restricted shares were granted during the years ended December 31, 2021, 2022 and 2023 under the 2014 RSU plan.

2020 RSU Plan

On June 30, 2020, the Board of Directors approved the 2020 RSU Plan, which is administered by the Compensation Committee of the Board of Directors. The 2020 RSU Plan provides for discretionary grants of RSUs to or for the benefit of participating employees. The maximum number of common shares that may be delivered to 2020 RSU Plan participants in connection with RSUs granted under the 2020 RSU Plan is 10,000,000, subject to adjustment if the Company’s outstanding common shares are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through a reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction.

Other awards

On September 28, 2019, the Board of Directors of the Company approved the employee stock option plan of Xinchuang Technology Co., Ltd. (“Xinchuang Technology”), a subsidiary of the Company. Under the plan, the Company reserved 150 million shares, representing 30% of Xinchuang Technology’s issued capital for purpose of providing share option awards to the Company’s senior management and employees. In November 2019, the Company granted a total of 100 million share options to certain employees of the Group with an exercise price of US$0.14 (RMB1). The options become vested in five tranches subject to achievement of certain performance conditions as follows: (i) 5% on the grant date with no performance condition; (ii) 5% for each of the first, second, and third anniversary of the grant date, respectively; and (iii) the remaining 80% shall vest upon the completion of the initial public offering of Xinchuang. The total fair value of the share options granted in October 2019 was US$3.5 million, which shall be recognized as compensation expense using the accelerated method. The fair value was determined by an external valuer using the discounted cash flow method to determine the underlying equity fair value of Xinchuang Technology. Key assumptions, such as the discount rate, cash flow projections and the discount for lack of marketability, are determined by the Group with best estimates.

As of December 31, 2023, there were no shares expired and the expense recognized was immaterial (2021: nil, 2022: nil).

Xinyuan Property Management Service (Cayman) Ltd., a subsidiary of the Company, operates the Scheme for the purpose of providing incentives and rewards to eligible participants (the “Participants”) who contribute to the success of its operations. The Participants of the Scheme include its directors and senior executives. The Scheme was adopted by its board on January 31, 2019 (the “Adoption Date”). Pursuant to the Scheme, an award of 56,250 restricted shares (subdivided into 56,250,000 restricted shares in August 2019), representing 15% of its share capital, was granted to the Participants with a total exercise price at an aggregate consideration of US$1,204,094 (RMB8,400,000).

The consideration was fully settled in cash upon the issuance of restricted shares. The restricted shares vested in three tranches of 18%, 80% and 100% on January 1, 2021, January 1, 2022 and January 1, 2023, respectively, in accordance with certain vesting conditions, that is, a performance condition based on the completion of an IPO. The compensation cost was recognized using accelerated method.

On June 14, 2019, Mr. Zhang Lizhou (one of the participants) resigned as an executive director. Upon the resignation of Mr. Zhang Lizhou, the Company repurchased the 18,750 shares granted to him at a consideration of US$401,365 (RMB2,800,000), which was equal to the amount paid by Mr. Zhang Lizhou to the Company at the issuance date. The remaining settled aggregate consideration of US$802,729 (RMB5,600,000) according to the Scheme was recognized as liability because the restricted shares will be repurchased by the Company at the original amount paid by participants upon the termination of employment.

The aggregate fair value of the restricted shares granted at the grant date amounting to US$4,931,051 (RMB34,400,000) is recognized as compensation expense using the accelerated method. The fair value is determined by an external valuer using the discounted cash flow method to determine the underlying equity fair value of Xinyuan Property Management Service (Cayman) Ltd. Key assumptions, such as the discount rate, cash flow projections and the discount for lack of marketability, are determined by the Group using its best estimates.

As of December 31, 2023, there were no shares vested or expired and the Group recognized expense relating to the Scheme of US$ nil (2021: US$1,788,297; 2022: US$nil) in the Consolidated Statements of Comprehensive Income during the period.

Long-term bank loans (Tables)

12 Months Ended

Dec. 31, 2023

Debt Instrument [Line Items]

Schedule of long-term bank loans


	December 31,	December 31,
	2022	2023
	US$	US$
Loan from ICBC
Due December 22, 2023, at 4.75% per annum	11,927,462	—
Due December 22, 2023, at 4.75% per annum	5,921,257	—
Due December 22, 2023, at 4.75% per annum	5,911,323	—
	23,760,042	—

Loan from Bank of China
Due March 19, 2023 at 7.2375% per annum	14,358,326	14,118,909
Due October 31, 2022 at 4.75% per annum	6,446,889	6,339,390
	20,805,215	20,458,300

Loan from Ping An Bank Co., Ltd.
Due March 18, 2022, at 6.1575% per annum	18,522,241	18,213,393
	18,522,241	18,213,393

Loan from Bank of Minsheng
Due May 30, 2031 at 4.40% per annum	49,249,060	46,451,212
Due September 15, 2025 at 5.8% per annum (Due March 30, 2023 at 7.6% per annum before loan extension)	186,902,335	178,553,802
Due July 7, 2026 at 4.40% per annum (Due January 14, 2024 at 6.65% per annum before loan extension)	31,763,490	31,140,345
	267,914,884	256,145,359

Loan from Bank of Huaxia Co., Ltd
Due May 26, 2025 at 6.50% per annum (Due March 21, 2023 at 7.00% per annum before loan extension)	—	11,293,716
Due June 29, 2025 at 7.00% per annum (Due March 30, 2023 at 8.00% per annum before loan extension)	—	5,632,033
	—	16,925,749

Loan from Bank of Zhengzhou Co., Ltd
Due March 25, 2023, at 4.75% per annum	51,546,392	50,686,885
Due August 11, 2023 at 4.75% per annum	107,687,448	105,891,821
	159,233,840	156,578,706

Loan from Xiamen International Bank Co., Ltd
Due November 16, 2024, at 6.80% per annum (Due January 6, 2023, at 6.80% per annum before loan extension)	7,179,163	6,847,671
Due May 7, 2023, at 7.3% per annum	3,158,832	—
	10,337,995	6,847,671

Loan from Bank of Guangzhou Co., Ltd
Due September 3, 2024, at 9.00% per annum	89,999,679	87,889,366


Total	590,573,895	563,058,544
Less: current portion of long-term bank loans	(443,970,822)	(410,969,547)
Total long-term bank loans	146,603,073	152,088,997

Long-term Debt [Member]

Debt Instrument [Line Items]

Schedule of maturities

As of December 31, 2023, the contractual maturities of these loans are as follows:


Year		Amount
		US$
2024		410,969,547
2025		98,711,369
2026		23,727,918
2027		5,788,753
2028 and thereafter		23,860,957
Less: current portion of long-term bank loans		(410,969,547)
Total: long-term bank loans		152,088,997

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Real estate properties development completed and under development (Tables)

12 Months Ended

Dec. 31, 2023

Real estate properties development completed and under development

Schedule of components of real estate properties development completed and under development


	December 31,	December 31,
	2022	2023
	US$	US$
Real estate properties development completed	830,840,167	854,076,531
Real estate properties under development	2,446,216,486	2,453,888,438
Total real estate properties development completed and under development	3,277,056,653	3,307,964,969

Real estate properties development completed and under development

12 Months Ended

Dec. 31, 2023

Real estate properties development completed and under development

Real estate properties development completed and under development

5. Real estate properties development completed and under development

The following summarizes the components of real estate properties development completed and under development at December 31, 2022 and 2023:


	December 31,	December 31,
	2022	2023
	US$	US$
Real estate properties development completed	830,840,167	854,076,531
Real estate properties under development	2,446,216,486	2,453,888,438
Total real estate properties development completed and under development	3,277,056,653	3,307,964,969

As of December 31, 2023, land use rights included in the real estate properties under development totaled US$1,589,737,091 (2022: US$1,729,523,333).

As of December 31, 2023, land use rights with an aggregate net book value of US$398,837,052 (2022: US$424,482,379) was pledged as collateral for certain bank loans and other debts.

Subsequent events

12 Months Ended

Dec. 31, 2023

Subsequent events

Subsequent events

24. Subsequent events

On April 29, 2024, the Company received valid consents from holders of 88.55% of the aggregate principal amount of the September 2027 Senior Secured Note, which constitutes the requisite consents to (i) amend certain provisions of the Indenture to remove the minimum cash interest requirement for the interest payment period from and including September 30, 2023 up to and excluding April 1, 2024 (the “Proposed Amendments”), and (ii) irrevocably and unconditionally waive all defaults under the Indenture which may arise from the failure of the Company to make payment of cash interest on the September 2027 Senior Secured Notes on March 31, 2024. The Company, certain subsidiary guarantors, and Citicorp International Limited, as trustee, entered into a Supplemental Indenture to the Indenture, to implement the Proposed Amendment. Accordingly, the Company has accrued the payment-in-kind interest on the principal amount of the outstanding Notes and is no longer obligated to pay interest in cash for the aforementioned period.

On January 7, 2024, Hudson 888 Owner LLC and Hudson 888 Holdco LLC (collectively, the “Debtors”), each a subsidiary of the Company, filed voluntary petitions for relief (each, a “Chapter 11 Case”) under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”). On April 12, 2024, the Debtors filed (i) a Disclosure Statement for Chapter 11 Plan of Reorganization and (ii) a Chapter 11 Plan of Reorganization (collectively, the “Plan”) in the Chapter 11 Case with the Bankruptcy Court. Pursuant to the Plan, the Debtors intend to (a) refinance the existing mortgage loan held by DOF II-Bloom Senior LLC (“Mortgage Lender”) and the existing mezzanine loan held by DOF I-Bloom Mezz LLC (“Mezzanine Lender,” together with Mortgage Lender, the “Secured Creditors”) with two loans (the “Refinancings”) and (b) pay off the claims of the Secured Creditors subject to approval of such claims by the Bankruptcy Court with (i) the proceeds from the Refinancings, (ii) any cash in Debtors’ accounts, and (iii) equity contributions from the Company. A hearing for confirmation of the Plan is scheduled for June 11, 2024

Income taxes - Income Before Taxes (Details) - USD ($)	12 Months Ended
Income taxes - Income Before Taxes (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income taxes [Line Items]
CIT tax rate	25.00%	25.00%	25.00%
PRC	$ 43,313,793	$ (33,822,942)	$ (274,761,993)
Non PRC	42,493,369	(215,618,321)	(145,780,649)
Income /(loss) from operations before income taxes	$ 85,807,162	(249,441,263)	(420,542,642)
PRC subsidiaries [Member]
Income taxes [Line Items]
CIT tax rate	25.00%
Withholding tax rate on dividend distributed by domestic enterprise to foreign tax resident investors (as a percent)	10.00%
HK subsidiaries [Member]
Income taxes [Line Items]
CIT tax rate	16.50%
US subsidiaries [Member]
Income taxes [Line Items]
CIT tax rate	21.00%
Withholding tax rate on dividend distributed by domestic enterprise to foreign tax resident investors (as a percent)	30.00%
Income /(loss) from operations before income taxes	$ (23,726,262)	$ (49,049,125)	$ (29,727,409)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
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-Topic 940
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-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Non-controlling interests (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Non-controlling interests	$ (141,141,196)	$ (152,673,930)
Shaanxi Zhongmao Economy Development Co., Ltd.
Noncontrolling Interest [Line Items]
Noncontrolling owners interest (percentage)	34.02%	34.02%
Non-controlling interests	$ 0	$ 0
Xinyuan Property Management Service (Cayman) Ltd
Noncontrolling Interest [Line Items]
Noncontrolling owners interest (percentage)	40.53%	40.53%
Non-controlling interests	$ (77,892,291)	$ (78,177,157)
Taicang Pengchi Real Estate Co., Limited.
Noncontrolling Interest [Line Items]
Noncontrolling owners interest (percentage)	83.00%	83.00%
Non-controlling interests	$ (33,373,465)	$ (33,861,921)
Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd.
Noncontrolling Interest [Line Items]
Noncontrolling owners interest (percentage)	80.00%	80.00%
Non-controlling interests	$ (27,244,465)	$ (36,302,338)
Henan Renxin Real Estate Co., Ltd.
Noncontrolling Interest [Line Items]
Noncontrolling owners interest (percentage)	49.00%	49.00%
Non-controlling interests	$ 0	$ 0
Suzhou Yefang Real Estate Co., Limited
Noncontrolling Interest [Line Items]
Noncontrolling owners interest (percentage)	79.99%	79.99%
Non-controlling interests	$ (11,290,614)	$ (11,482,112)
Zhegnzhou Xinhe Real Estate Co., Ltd
Noncontrolling Interest [Line Items]
Noncontrolling owners interest (percentage)	20.00%	20.00%
Non-controlling interests	$ 2,792,991	$ 1,650,839
Other
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 5,866,648	$ 5,498,759

Customer deposits

12 Months Ended

Dec. 31, 2023

Customer deposits

Customer deposits

13. Customer deposits

Advances for real estate properties comprise sales proceeds received from customers for the pre-sale of residential units in the PRC. Advances for real estate properties are typically funded up to 40% - 80% by mortgage loans made by banks to the customers. The Group holds certain cash balances in restricted cash accounts at the relevant banks (Note 2 (f)). The Group, in return, has a right to withhold transfer of title to the customer until outstanding amounts are fully settled.


	December 31,	December 31,
	2022	2023
	US$	US$
Advances for real estate properties	1,866,575,083	1,279,142,157
Add: increase in revenue recognized in excess of amounts received from customers	—	—
Less: recognized as progress billings	(586,058,078)	(539,128,802)
Customer deposits (Note 2(i))	1,280,517,005	740,013,355

Segment reporting - Additional Information (Details) - customer	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment reporting
Number of customer accounts	0	0	0

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 129,243,923	$ 283,131,542
Restricted cash	101,577,317	277,596,767
Short-term investments	5,422,264	11,992,929
Accounts receivable, net	44,252,051	32,587,827
Deposits for land use rights	31,973,682	33,857,554
Other deposits and prepayments	259,752,148	322,170,208
Advances to suppliers	39,803,727	54,229,135
Real estate properties development completed and under development	3,307,964,969	3,277,056,653
Other current assets	900,641	7,886,273
Total current assets	4,493,212,025	4,889,207,126
Non-current assets
Real estate properties held for lease, net	322,552,001	373,467,867
Deposits for land use rights and properties	32,473,512	33,024,171
Property and equipment, net	25,543,359	28,831,111
Long-term investments	73,787,743	92,473,329
Deferred tax assets	283,687,539	304,515,733
Amounts due from related parties	14,805,229	15,056,284
Contract assets	34,255,318	52,515,766
Operating lease right-of-use assets	1,615,626	5,707,986
Other assets	51,460,879	55,478,954
Total non-current assets	840,181,206	961,071,201
TOTAL ASSETS	5,333,393,231	5,850,278,327
Current liabilities
Accounts payable and notes payable (including accounts payable and notes payable of the VIEs without recourse to the primary beneficiary of US$13,439 and US$13,215 as of December 31, 2022 and December 31, 2023, respectively)	1,023,913,738	950,184,053
Short-term bank loans and other debt	63,295,071	81,598,369
Customer deposits	740,013,355	1,280,517,005
Income tax payable	294,923,155	241,221,356
Other payables and accrued liabilities (including other payables and accrued liabilities of the VIEs without recourse to the primary beneficiary of US$3,235,911 and US$3,831,970 as of December 31, 2022 and December 31, 2023, respectively)	659,501,859	489,622,793
Payroll and welfare payable (including payroll and welfare payable of the VIEs without recourse to the primary beneficiary of US$1,132,120 and US$319,565 as of December 31, 2022 and December 31, 2023, respectively)	14,191,467	16,431,804
Current portion of long-term bank loans and other debt	1,265,784,530	1,653,119,929
Operating lease liabilities, current portion	2,228,329	3,780,853
Mandatorily redeemable non-controlling interests	9,741,467	9,864,014
Amounts due to related parties	$ 72,910,425	$ 66,619,920
Other Liability, Current, Related Party, Type [Extensible Enumeration]	Related Party	Related Party
Total current liabilities	$ 4,146,503,396	$ 4,792,960,096
Non-current liabilities
Long-term bank loans	152,088,997	146,603,073
Deferred tax liabilities	347,969,036	429,974,728
Unrecognized tax benefits	103,047,687	135,562,075
Other long-term debt	476,033,481	259,081,410
Operating lease liabilities	$ 338,252	$ 3,310,116
Other Liability, Noncurrent, Related Party, Type [Extensible Enumeration]	Related Party	Related Party
Total non-current liabilities	$ 1,079,477,453	$ 974,531,402
Total liabilities	5,225,980,849	5,767,491,498
Commitments and contingencies
Shareholders' equity/(deficit)
Common shares, US$0.0001 par value: Authorized500,000,000 shares; shares issued and outstanding- 113,671,841 shares as of December 31, 2023 (2022: 108,029,257 shares)	17,554	16,415
Additional paid-in capital	546,549,246	544,954,556
Statutory reserves	179,843,852	179,457,097
Accumulated deficits	(616,742,846)	(656,638,114)
Accumulated other comprehensive loss	(26,603,172)	(21,615,478)
Treasury shares	(116,793,448)	(116,061,577)
Total Xinyuan Real Estate Co., Ltd. shareholders' equity/(deficit)	(33,728,814)	(69,887,101)
Non-controlling interest	141,141,196	152,673,930
Total equity	107,412,382	82,786,829
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	5,333,393,231	5,850,278,327
Nonrelated Party
Current assets
Other receivables	378,656,298	383,513,125
Related Party
Non-current assets
Amounts due from related parties	14,805,230	15,056,284
Current liabilities
Amounts due to related parties	72,910,425	66,619,920
Related Parties, Excluding Employees
Current assets
Other receivables	192,626,511	203,719,058
Employees
Current assets
Other receivables	$ 1,038,494	$ 1,466,055

Share-based compensation - Other awards (Details)								1 Months Ended				12 Months Ended
Share-based compensation - Other awards (Details)	Jan. 01, 2021	Jan. 01, 2020	Sep. 28, 2019 shares	Jun. 14, 2019 USD ($) shares	Jun. 14, 2019 CNY (¥) shares	Jan. 31, 2019 USD ($) shares	Jan. 31, 2019 CNY (¥) shares	Nov. 30, 2019 tranche $ / shares shares	Nov. 30, 2019 tranche ¥ / shares shares	Oct. 31, 2019 USD ($)	Aug. 31, 2019 shares	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CNY (¥)	Jun. 14, 2019 CNY (¥)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of the stock options granted \| $													$ 568,047	$ 3,413,610
Recognized share-based compensation expense \| $												$ 0	0	1,788,297
Number of tranches \| item												3
Mr. Zhang Lizhou [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Consideration recognized as liability												$ 802,729			¥ 5,600,000
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense \| $												$ 0	$ 0	$ 0
Restricted Stock [Member] \| Mr. Zhang Lizhou [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards transferred back (in shares)				18,750	18,750
Consideration refunded for shares transferred back				$ 401,365	¥ 2,800,000
Percentage of share capital granted as restricted shares transferred to group (as a percent)				5.00%	5.00%
Xinchuang Technology Co., Ltd. ("Xinchuang Technology ") [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance under employee stock option plan (in shares)			150,000,000
Shares reserved for issuance under the employee stock option plan (as a percent)			30.00%
Options granted								100,000,000	100,000,000
Fair value of the stock options granted \| $										$ 3,500,000
Exercise price of share options granted (in dollars per share) \| (per share)								$ 0.14	¥ 1
Number of tranches \| tranche								5	5
Xinchuang Technology Co., Ltd. ("Xinchuang Technology ") [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)								5.00%	5.00%
Xinchuang Technology Co., Ltd. ("Xinchuang Technology ") [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)								5.00%	5.00%
Xinchuang Technology Co., Ltd. ("Xinchuang Technology ") [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)								5.00%	5.00%
Xinchuang Technology Co., Ltd. ("Xinchuang Technology ") [Member] \| Share-based Payment Arrangement, Tranche Five [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)								80.00%	80.00%
Xinyuan Property Management Service(Cayman) Ltd [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total awards granted						56,250	56,250
Restricted shares granted (in shares)											56,250,000
Percentage of share capital granted as restricted shares (as a percent)						15.00%	15.00%
Aggregate consideration						$ 1,204,094	¥ 8,400,000
Aggregate fair value of the restricted shares granted at the grant date				$ 4,931,051												¥ 34,400,000
Xinyuan Property Management Service(Cayman) Ltd [Member] \| Restricted Stock [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)		18.00%
Xinyuan Property Management Service(Cayman) Ltd [Member] \| Restricted Stock [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage (as a percent)	80.00%

Income taxes

12 Months Ended

Dec. 31, 2023

Income taxes

Income taxes

14. Income taxes

(a) Corporate income tax (“CIT”)

Under the current law of the Cayman Islands, the Company is not subject to income tax and withholding tax.

The Company’s PRC subsidiaries are subject to income tax at the statutory rate of 25% in accordance with PRC corporate income tax laws and regulations. Further, under the same tax laws and regulations, dividends paid by PRC enterprises out of profits earned post-2007 to non-PRC tax resident investors are subject to PRC dividend withholding tax of 10%. A lower withholding tax rate may be applied based on applicable tax treaties with certain jurisdictions.

The Company’s HK subsidiaries are subject to income tax at the statutory rate of 16.5% in accordance with the HK profits tax laws and regulations. The Company did not make any provisions for Hong Kong Profits Tax as there were no assessable profits arising in or derived from Hong Kong for any of the periods presented. Under the Hong Kong tax law, the Company’s HK subsidiaries are exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends.

The Company’s U.S. subsidiaries are subject to income tax at the statutory rate of 21% in accordance with US corporate income tax laws and regulations. Dividends and interests paid by US enterprises to non-U.S. tax resident enterprises are subject to US withholding tax of 30%.

Income before income tax expense consisted of:


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
PRC	(274,761,993)	(33,822,942)	43,313,793
Non-PRC	(145,780,649)	(215,618,321)	42,493,369
Total	(420,542,642)	(249,441,263)	85,807,162

Income tax expense for the years ended December 31, 2021, 2022 and 2023 is summarized as follows:


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
Current:
CIT tax (benefit)/expense	15,227,110	42,948,974	75,387,486
LAT expense	39,101,310	26,862,350	70,422,049
Deferred tax expense/(benefit)	(61,608,948)	(60,569,862)	(90,534,084)
Income tax expense/(benefit)	(7,280,528)	9,241,462	55,275,451

The Group’s income tax expense differs from the tax expense computed by applying PRC statutory CIT rate of 25% for the years ended December 31, 2021, 2022 and 2023 as follows:


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
CIT at rate of 25%	(105,135,661)	(62,360,316)	21,451,790
Tax effect of non-taxable income	(3,729,808)	(20,815,682)	(7,508,336)
Tax effect of non-deductible expenses	55,981,806	8,849,339	(3,025,167)
Unrecognized tax benefits	—	—	(12,673,506)
LAT expense	39,101,310	26,862,350	70,422,049
CIT benefit of LAT	(9,775,327)	(6,715,587)	(17,605,512)
Changes in valuation allowance	13,925,825	31,860,999	24,493,566
International rate differences	14,983,887	42,918,080	(18,620,948)
Dividend and interest withholding taxes	(17,148,376)	889,259	(321,096)
Adjustment of estimated income tax accruals	3,085,497	(8,220,977)	(1,315,644)
Others	1,430,320	(4,026,003)	(21,745)
Income tax expense/(benefit)	(7,280,528)	9,241,462	55,275,451

(b) Unrecognized tax benefit

The following table summarizes the activities related to the Group’s unrecognized tax benefits:


	2021	2022	2023
	US$	US$	US$
Balance at January 1	101,198,970	130,560,908	135,562,075
Additions for tax positions of current year	29,025,853	6,295,454	23,209,764
Reclassification from prior year tax payable	—	—	—
Reductions for tax positions of prior years	—	—	(42,880,080)
Movement in current year due to foreign exchange rate fluctuation	336,085	(1,294,287)	(12,844,072)
Balance at December 31	130,560,908	135,562,075	103,047,687

The movement in the liability for unrecognized tax benefits in 2021 included an amount of US$25,287,932 and related late payment interest of US$3,128,988, which were due to deemed interest income from subsidiaries of the Company during the year, related late payment interests of US$608,933, which were due to an uncertain tax position in respect of an investment loss deduction claimed in the 2018 tax return filed in 2019.

The movement in the liability for unrecognized tax benefits in 2022 included an amount of US$10,042,468 and write off related late payment interest of US$4,304,458, which were due to deemed interest income from subsidiaries of the Company during the year, related late payment interests of US$557,444, which were due to an uncertain tax position in respect of an investment loss deduction claimed in the 2018 tax return filed in 2019.

The movement in the liability for unrecognized tax benefits in 2023 included an amount of US$23,939,130 and related late payment interest of US$996,540, which were due to deemed interest income from subsidiaries of the Company during the year, write off related late payment interests of US$1,725,906, which were due to an uncertain tax position in respect of an investment loss deduction claimed in the 2018 tax return filed in 2019.

As of December 31, 2021, 2022 and 2023, unrecognized tax benefits of US$13,678,371, US$13,279,620 and US$12,673,506, respectively, if ultimately recognized, will impact the effective tax rate. The Group anticipates new unrecognized tax benefits, related to tax positions similar to those giving rise to its existing unrecognized tax benefits, to originate after December 31, 2023. It is possible that the amount of uncertain tax positions will change in the next twelve months, however, an estimate of the range of the possible outcomes cannot be made at this time.

The Group’s income tax returns for fiscal year 2009 through fiscal year 2023 remain open to potential examination. In addition, local tax authorities may exercise broad discretion in applying the tax law, thus potentially exposing the subsidiaries to audits of tax years outside the general statute of limitations.

LAT is applicable at progressive tax rates ranging from 30% to 60% on the appreciation of land values, with an exemption provided for the sales of ordinary residential properties if the appreciation values do not exceed certain thresholds specified in the relevant tax laws.

For all periods presented, the Group has made provision for LAT with respect to properties sold up to the respective reporting date in accordance with the requirements set forth in the relevant PRC tax laws and regulations.

(d) Deferred tax

The tax effects of temporary differences that give rise to the Group’s deferred tax assets and liabilities as of December 31, 2022 and 2023 are as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Deferred tax assets:
Tax loss carried forward	94,579,348	65,880,222
Accruals and provisions	122,380,636	126,741,964
Capitalized expenses	78,506,854	84,831,071
Revenue recognition at a point in time less tax paid under deemed profit method	(28,086,617)	(32,803,744)
Revenue recognition of real estate lease income on a straight-line basis	322,923	(1,572,986)
Deemed interest expense	115,181,923	96,240,973
Operating lease liability	1,772,742	641,645
Less: Valuation allowance	(18,168,615)	(18,099,350)
Total deferred tax assets, net of valuation allowance	366,489,194	321,859,795
Deferred tax liabilities:
Revenue recognition over time	(149,855,853)	(85,213,884)
Taxable temporary differences arising from asset acquisitions	(294,617,076)	(256,323,009)
Dividend and interest withholding taxes	(46,048,264)	(44,200,493)
Operating lease right-of-use assets	(1,426,996)	(403,906)
Total deferred tax liabilities	(491,948,189)	(386,141,292)

Certain of the Company’s PRC subsidiaries have PRC tax net operating loss carry forwards of US$245.5 million (2022: US$361.6 million), which will expire in 1 to 10 years, if unutilized. Losses incurred in the U.S. amounting to US$21.5 million (2022: US$21.5 million) can be carried forward for 20 years, and US$11.2 million (2022: US$11.2 million) have an indefinite carryforward period.

During 2022 and 2023, the Company has considered its operational funding needs, future development initiatives and its dividend distribution plan and is permanently reinvesting all but US$459.5 million and US$470.0 million of its PRC subsidiaries earnings as at December 31, 2022 and 2023, respectively. Accordingly, the Company accrued deferred income tax liabilities of US$45.9 million and US$47.0 million for the withholding tax liability associated with the distribution of retained earnings that are not permanently reinvested as at December 31, 2022 and 2023, respectively. As of December 31, 2022 and 2023, the total amount of undistributed earnings from the Company’s PRC subsidiaries that are considered to be permanently reinvested were nil, and the related unrecognized deferred tax liabilities were approximately nil. The Company’s remaining subsidiaries do not have retained earnings for all the periods presented.

In assessing the ability to realize the deferred tax assets, the Group has considered whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Accordingly, the Group recorded valuation allowances amounting US$18,168,615 and US$18,099,350 as of December 31, 2022 and 2023, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Real estate properties held for lease, net - Minimum Future Rental Income (Details)	Dec. 31, 2023 USD ($)
Real estate properties held for lease, net
2024	$ 19,800,349
2025	18,814,705
2026	16,486,897
2027	14,573,904
2028 and thereafter	117,928,803
Total	$ 187,604,658

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Total Xinyuan Real Estate Co., Ltd. shareholders'	Common Shares	Treasury Shares	Additional Paid-in Capital	Statutory Reserves	Retained Earnings / (Accumulated Deficits)	Accumulated Other Comprehensive Income / (Loss)	Non-controlling Interest	Total
Balance at Dec. 31, 2020	$ 665,471,960	$ 16,415		$ 552,215,071	$ 177,696,037	$ 34,500,890	$ 17,105,124	$ 360,431,202	$ 1,025,903,162
Balance, shares at Dec. 31, 2020		106,932,017
Treasury Shares, beginning balance at Dec. 31, 2020			$ (116,061,577)
Capital injection from non-controlling interests	(11,242,172)			(11,242,172)				16,901,589	5,659,417
Foreign currency translation	17,818,155						17,818,155	3,043,480	20,861,635
Stock-based compensation expenses	3,413,610			3,413,610					3,413,610
Stock-based compensation expenses, Shares		825,704
Net income (loss)	(417,307,378)					(417,307,378)		4,045,264	(413,262,114)
Appropriation to statutory reserves					801,853	(801,853)
Dividends to shareholders	(4,055,664)					(4,055,664)			(4,055,664)
Acquisition of non-controlling interests								(225,290,809)	(225,290,809)
Balance at Dec. 31, 2021	254,098,511	$ 16,415		544,386,509	178,497,890	(387,664,005)	34,923,279	159,130,726	413,229,237
Balance, shares at Dec. 31, 2021		107,757,721
Treasury Shares, ending balance at Dec. 31, 2021			(116,061,577)
Foreign currency translation	(56,538,757)						(56,538,757)	(10,475,779)	(67,014,536)
Stock-based compensation expenses	568,047			568,047					568,047
Stock-based compensation expenses, Shares		271,536
Net income (loss)	(263,353,561)					(263,353,561)		4,670,836	(258,682,725)
Appropriation to statutory reserves					959,207	(959,207)
Dividends to shareholders	(4,661,341)					(4,661,341)			(4,661,341)
Acquisition of non-controlling interests								(651,853)	(651,853)
Balance at Dec. 31, 2022	(69,887,101)	$ 16,415		544,954,556	179,457,097	(656,638,114)	(21,615,478)	152,673,930	82,786,829
Balance, shares at Dec. 31, 2022		108,029,257
Treasury Shares, ending balance at Dec. 31, 2022			(116,061,577)						(116,061,577)
Treasury share repurchases	(731,871)		(731,871)						(731,871)
Issuance of ordinary shares	1,595,829	$ 1,139		1,594,690					1,595,829
Issuance of ordinary shares, shares		11,398,784
Treasury share repurchases, shares		(5,756,200)
Foreign currency translation	(4,987,694)						(4,987,694)	(1,782,420)	(6,770,114)
Net income (loss)	40,282,025					40,282,025		(9,750,314)	30,531,711
Appropriation to statutory reserves					386,755	(386,755)
Balance at Dec. 31, 2023	$ (33,728,814)	$ 17,554		$ 546,549,246	$ 179,843,852	$ (616,742,846)	$ (26,603,172)	$ 141,141,196	107,412,382
Balance, shares at Dec. 31, 2023		113,671,841
Treasury Shares, ending balance at Dec. 31, 2023			$ (116,793,448)						$ (116,793,448)

Document and Entity Information - shares	12 Months Ended
Document and Entity Information - shares	Dec. 31, 2023	Dec. 31, 2022
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-33863
Entity Registrant Name	XINYUAN REAL ESTATE CO., LTD.
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	27/F, China Central Place, Tower II
Entity Address, Address Line Two	79 Jianguo Road
Entity Address, City or Town	Chaoyang District
Entity Address, Postal Zip Code	Beijing 100025
Entity Address, Country	CN
Title of 12(b) Security	American Depositary Shares, each representing 20 common shares, par value US$0.0001 per share
Trading Symbol	XIN
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	112,273,601
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	U.S. GAAP
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Central Index Key	0001398453
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Assentsure PAC	Union Power HK CPA Limited
Auditor Firm ID	6783	3004
Auditor Location	Singapore	Hong Kong
Business Contact
Entity Address, Address Line One	Xinyuan Real Estate Co., Ltd
Entity Address, Address Line Two	27F, China Central Place, Tower II
Entity Address, Address Line Three	79 Jianguo Road
Entity Address, City or Town	Chaoyang District
Entity Address, Postal Zip Code	Beijing 100025
Entity Address, Country	CN
Contact Personnel Name	Yong Zhang
City Area Code	86-10
Local Phone Number	8588-9255
Contact Personnel Email Address	irteam@xyre.com

Summary of significant accounting policies - Additional Information (Details) ¥ in Millions	1 Months Ended				12 Months Ended
	May 23, 2017 USD ($)	May 23, 2017 CNY (¥)	Sep. 18, 2016 USD ($)	Sep. 18, 2016 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 21, 2019	Dec. 31, 2018 item	Mar. 02, 2018	Feb. 28, 2017	Jun. 28, 2016	Mar. 01, 2016	May 06, 2015 USD ($)	May 06, 2015 CNY (¥)
Summary of significant accounting policies
Current assets					$ 4,493,212,025	$ 4,889,207,126
Non-current assets					840,181,206	961,071,201
TOTAL ASSETS					5,333,393,231	5,850,278,327	$ 6,446,279,290
Current liabilities					4,146,503,396	4,792,960,096
Non-current liabilities					1,079,477,453	974,531,402
Total liabilities					5,225,980,849	5,767,491,498
Revenue					804,974,475	950,012,173	1,536,017,781
costs of revenue					(672,509,119)	(878,056,065)	(1,468,080,865)
Net loss/income					40,282,025	(263,353,561)	(417,307,378)
Net cash provided by operating activities					(270,773,987)	(530,272,913)	135,608,847
Net cash used in investing activities					(1,106,953)	513,898,291	(22,774,551)
Net cash used in financing activities					(47,293,021)	(60,426,478)	(677,076,944)
Other liabilities					72,910,425	66,619,920
Impairment loss on goodwill						1,481,006	4,355,469
Impairment loss on intangible assets							14,295,790
Impairment of loss on real estate					$ 21,544,902	2,932,743	$ 1,347,050
Beijing Ruihao Rongtong Real Estate [Member]
Summary of significant accounting policies
Percentage of Equity Directly Attributable to the Group					65.00%
Related Party [Member]
Summary of significant accounting policies
Other liabilities					$ 72,910,425	66,619,920
RuizhuoXihui [Member]
Summary of significant accounting policies
Current assets					2,566,273	2,621,527
Non-current assets					(10,626)	(10,806)
TOTAL ASSETS					2,555,647	2,610,721
Current liabilities					2,533,801	2,619,769
Total liabilities					2,533,801	2,619,769
Revenue						235,890
costs of revenue					0	(64,034)
Net loss/income					30,919	31,287
Net cash provided by operating activities					(24)	(13,900)
Net cash used in investing activities					0	0
Net cash used in financing activities					0	0
Consolidation, Eliminations [Member] \| Beijing Yuzhouyun Technology Development Center [Member] \| Subsidiaries
Summary of significant accounting policies
Other liabilities					18,643,004	14,851,499
Consolidation, Eliminations [Member] \| RuizhuoXihui [Member] \| Subsidiaries
Summary of significant accounting policies
Other receivables					2,476,119	2,511,562
Beijing Ruihao Rongtong Real Estate Co., Ltd. ("Ruihao Rongtong") (Note 2(a)) [Member]
Summary of significant accounting policies
Registered Capital														$ 37,600,000	¥ 250.0
Number of projects under construction \| item									1
Beijing Ruihao Rongtong Real Estate Co., Ltd. ("Ruihao Rongtong") (Note 2(a)) [Member] \| Ping An trust Co., Ltd. ("Ping'an trust") [Member]
Summary of significant accounting policies
Amount of loan in aggregate to the Group	$ 246,800,000	¥ 1,610.0	$ 124,300,000	¥ 862.5
Beijing Yuzhouyun Technology Development Center [Member]
Summary of significant accounting policies
Current assets					(10,484)	174,470
Non-current assets					2,922,037	2,873,855
TOTAL ASSETS					2,911,553	3,048,325
Current liabilities					21,353,225	17,699,203
Non-current liabilities					6,847,671	10,337,995
Total liabilities					28,200,896	28,037,198
Revenue					10,731	244,130
costs of revenue					(947,551)	(2,534,745)
Net loss/income					(721,263)	(2,539,202)
Net cash provided by operating activities					3,140,065	2,671,405
Net cash used in investing activities						0
Net cash used in financing activities					(3,124,002)	(2,700,960)
Consolidated revenues contributed from the related party					10,731	244,130
Percentage of Share of Profit or Loss										51.00%
Beijing Yuzhouyun Technology Development Center [Member] \| Senior Management Members [Member]
Summary of significant accounting policies
Percentage of Share of Profit or Loss										49.00%
RuizhuoXihui [Member]
Summary of significant accounting policies
Other liabilities					$ 0
Consolidated revenues contributed from the related party						$ 235,890
Beijing Ruihao Rongtong Real Estate Co., Ltd. ("Ruihao Rongtong") (Note 2(a)) [Member]
Summary of significant accounting policies
Percentage of non-controlling equity interest that will be repurchased by the entity									35.00%
Beijing Ruihao Rongtong Real Estate Co., Ltd. ("Ruihao Rongtong") (Note 2(a)) [Member] \| Ping An trust Co., Ltd. ("Ping'an trust") [Member]
Summary of significant accounting policies
Noncontrolling owners interest (percentage)	35.00%	35.00%	10.00%	10.00%				35.00%	35.00%		35.00%	5.00%	20.00%

Other payables and accrued liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Other payables and accrued liabilities

Schedule of Other payables and accrued liabilities


	December 31,	December 31,
	2022	2023
	US$	US$
Contract deposit	172,775,614	221,148,610
Accrued expenses	72,958,539	46,365,405
Deed tax and maintenance fund withheld for customers	14,739,762	15,079,138
Bidding deposit	3,665,749	3,331,250
Welfare payable	1,483,484	1,458,748
Other tax payable	24,924,141	20,392,535
Accrued aircraft operating expense	1,381,785	1,488,258
Accrued interest expense	153,330,358	287,028,427
Purchase consideration payable for asset acquisitions and business combinations	31,108,067	33,275,049
Others	13,255,294	29,934,437

Total	489,622,793	659,501,859

Leases - Additional information (Details)	12 Months Ended
Leases - Additional information (Details)	Dec. 31, 2023
Maximum
Lease
Remaining lease terms	2 years

Concentration of risk

12 Months Ended

Dec. 31, 2023

Concentration of risk

Concentration of risk

22. Concentration of risk

The Group’s financial instruments potentially subject to significant concentrations of credit risk primarily consist of cash and cash equivalents, restricted cash, other receivables and amounts due from related parties. As of December 31, 2022 and 2023, substantially all of the Group’s cash and cash equivalents and restricted cash were held in major financial institutions located in China, Hong Kong SAR and the United States, which management consider being of high credit quality. In the event of bankruptcy of one of these financial institutions, the Group may not be able to claim its cash and demand deposits back in full. The Group continues to monitor the financial strength of the financial institutions. The Group does not have requirements for collateral for the balance of other receivables and amounts due from related parties while considers various factors in establishing, monitoring the financial instruments, including the aging of receivables and aging trends, customer creditworthiness. repayment history and credit-worthiness.

The Group’s operations are conducted mainly in the PRC. Starting in 2012, a relatively smaller portion of the Group’s operations is conducted in the United States. Accordingly, the Group’s business, financial condition and results of operations is primarily influenced by the political, economic and legal environments in the PRC and by the general state of PRC economy.

The Group’s operations in the PRC are subject to special considerations and significant risks. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Group’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

The Group transacts most of its business in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the PBOC or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the PBOC. Approval of foreign currency payments by the PBOC or other institutions requires submitting a payment application form together with suppliers’ invoices, shipping documents and signed contracts.

On July 21, 2005, PRC government changed its decade-old policy of pegging the value of the RMB to the US$. Under the new policy, the RMB is permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies. This change in policy had resulted in a 14.4% appreciation of the RMB against the US$ from July 21, 2005 to December 31, 2023.

To the extent that the Company needs to convert US$ into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against US$ would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into US$ for the purpose of making payments for dividends on ordinary shares, strategic acquisitions or investments or other business purposes, appreciation of US$ against RMB would have a negative effect on the US$ amount available to the Company. In addition, a significant depreciation of the RMB against the US$ may significantly reduce the US$ equivalent of the Company’s earnings or losses.

The Group provides guarantees to mortgage lending banks in respect of the mortgage loans provided to the purchasers of its properties in the PRC up until completion of the registration of the mortgage with the relevant authorities, which generally occurs within six to 12 months after the purchaser takes possession of the relevant properties. If a purchaser defaults under the loan while our guarantee is in effect and the Group repays all debt owed by the purchaser to the mortgagee bank under the loan, the mortgagee bank must assign its rights under the loan and the mortgage to the Group and, after the registration of the mortgage, the Group will have full recourse to the property. In line with industry practice, the Group does not conduct independent credit checks on its customers but relies on the credit checks conducted by the mortgagee banks.

As of December 31, 2023, the Group had outstanding guarantees of mortgages in the principal amount of US$1,926.4 million. If a purchaser defaults on the payment of its mortgage during the term of the guarantee, the mortgage lending bank may require the Group to repay the outstanding amount under the loan plus any accrued interest. In this event, although the Group is able to retain the customer’s deposit and sell the property to recover any amounts paid by it to the bank, there can be no assurance that the property could be sold at a price equal to or greater than the amount paid on the defaulting purchaser’s outstanding loan amount and any accrued interest thereon. The Group paid US$2.3 million to satisfy guarantee obligations related to customer defaults for the year ended December 31, 2023.

The Group offers certain homebuyers seller-financing arrangements. All the homebuyers that entered into such arrangements were subject to credit verification procedures. In addition, accounts receivable balances are unsecured, but monitored on an ongoing basis via the Group’s management reporting procedures. The Group provides longer payment terms to particular home buyers after applying strict credit requirements based on the Group’s credit policy. As of December 31, 2022 and 2023, there was no concentration of credit risk with respect to receivables and the Group did not have a significant exposure to any individual debtor.

In 2013, PRC banks tightened the conditions on which mortgage loans are extended to homebuyers. Therefore, mortgage loans for homebuyers have been subject to longer processing periods or even denied by the banks. The Group monitors its homebuyers’ outstanding mortgage loans on an ongoing basis via the Group’s management reporting procedures and took the position that contracts with underlying mortgage loans with processing periods exceeding one year shall not be considered when recognizing revenue on an over time basis (Note 2(i) for further detail). As a result, sales contracts of 1,457 apartments were excluded when determining revenue to be recognized in 2023.

In addition, no single customer or supplier accounted for more than 10% of revenue or project expenditures for the years ended December 31, 2021, 2022 and 2023.

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and contingencies.

Schedule of non-cancellable construction contracts for real estate development and land use rights purchases

As of December 31, 2023, the Group had outstanding commitments with respect to non-cancellable construction contracts for real estate development and land use rights purchases as follows:


		Amount
		US$
2024		531,196,138
2025		470,273,059
2026		107,110,957
2027		39,052,653
2028 and thereafter		—
Total		1,147,632,807

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Assumptions Used to Estimate Fair Value of Stock Option Award Using Black-Scholes Valuation Model


	Options		Options
	Granted in		Granted in
	2015		2015
	Under the		Under the
	2007 Plan		2015 Plan
Average risk-free rate of return	1.82‑1.92	%	1.57‑1.92	%
Expected term	6 Years		6 Years
Volatility rate	46.3‑55.2	%	55.0‑55.9	%
Dividend yield	5	%	5	%

2007 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Stock Option Activity Under Stock Option and Incentive Plans

As of January 1, 2023, all options granted under 2007 Plan were fully vested. The following table is a summary of the Company’s share option activity under the 2007 Plan (in US$, except options):


		Weighted	Weighted
		Average	Remaining
	Number of	Exercise	Contractual	Aggregate
Options Under the 2007 Plan	Options	Price	Life (Years)	Intrinsic Value

Outstanding, January 1, 2023
1.21 (exercise price)	39,400	1.21	1.50	—
Outstanding and Exercisable, December 31, 2023
1.21 (exercise price)	39,400	1.21	0.50	—

2015 Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Stock Option Activity Under Stock Option and Incentive Plans


		Weighted	Weighted
		Average	Remaining
	Number of	Exercise	Contractual	Aggregate
Options Under the 2015 Plan	Options	Price	Life (Years)	Intrinsic Value

Outstanding, January 1, 2023
1.71(exercise price)	2,796,734	1.71	2.50	—
Forfeited
1.71 (exercise price)	81,600	1.71	—	—
Outstanding and Exercisable, December 31, 2023
1.71(exercise price)	2,715,134	1.71	1.50	—

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Leases

12 Months Ended

Dec. 31, 2023

Leases

Leases

12. Leases

Lessee

The Group has operating and finance leases, which primarily consist of office space and equipment. The Group’s leases include options to extend the lease term. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The Group has operating leases for office and dormitories in the United States and China. The leases have remaining lease terms of up to two years.

Leases recorded on the consolidated balance sheets are summarized as follows:


	December 31,	December 31,
	2022	2023
	US$	US$
Lease Assets
Finance lease assets
Property and equipment, net	—	—
Real estate properties held for lease, net	—	—
Total	—	—
Operating lease ROU assets	5,707,986	1,615,626

Lease Liabilities
Current
Current portion of finance lease	—	—
Current portion of operating lease	3,780,853	2,228,329
Total	3,780,853	2,228,329
Non-current
Finance lease, net of current portion	—	—
Operating lease, net of current portion	3,310,116	338,252
Total	3,310,116	338,252

The components of lease expenses recognized are as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Operating lease cost:
Operating lease cost	3,497,729	2,528,841
Short-term lease cost	710,161	508,273
Finance lease cost:
Amortization of finance lease assets	—	—
Interest on the lease liabilities	69,672	—

Total lease cost	4,277,562	3,037,114

Supplemental cash flow information related to leases was as follows:


	Year ended	Year ended
	December 31,	December 31,
	2022	2023
	US$	US$
Operating cash flows for operating leases	3,996,599	1,996,744
Operating cash flows for finance leases	—	—
Financing cash flows for finance leases	5,207,694	—

Maturities of lease liabilities are as follows:


	December 31,
	2023
	Finance Leases	Operating Leases
	US$	US$
Year ending December 31, 2024	—	2,106,680
Year ending December 31, 2025	—	509,924
Year ending December 31, 2026	—	267,157
Year ending December 31, 2027	—	65,876
Total lease payments	—	2,949,638
Less: imputed interest	—	(145,230)
Present value of lease liabilities	—	2,804,408

Other supplemental information related to lease terms and discount rates are summarized below:


	December 31,		December 31,
	2022		2023
Weighted-average remaining lease term (years)
Operating leases	2.03		1.79
Finance leases	—		—
Weighted-average discount rate
Operating leases	7.42	%	6.48	%
Finance leases	—	%	—

Related party and employee transactions

12 Months Ended

Dec. 31, 2023

Related party and employee transactions

17. Related party and employee transactions

(a)	Amounts due from related parties


	December 31,	December 31,
	2022	2023
	US$	US$
Current:
Henan Hongguang Olympic Real Estate Co., Ltd.	87,047,162	85,595,700
Qingdao Huiju	—	—
Guangzhou Huanglong Information Technology Co., Ltd.	29,937,746	27,153,613
Xinzheng Meihang Network Technology Co., Ltd.	—	—
Madison Development Limited	8,539,686	3,689,595
Suzhou Wanzhuo's non-controlling interest holders	29,323,571	28,834,616
Taicang Pengchi's non-controlling interest holders	23,892,970	23,494,569
Suzhou Rongjingchen Real Estate Co., Ltd.	20,269,362	19,931,382
Others	4,708,561	3,927,036
Total current amounts due from related parties	203,719,058	192,626,511

Non current:
Xinzheng Meihang Network Technology Co., Ltd.	1,065,531	1,047,764
Suzhou Yefang’s non-controlling interest holders	11,485,225	11,293,716
Others	2,505,528	2,463,750
Total non-current amounts due from related parties	15,056,284	14,805,230
Total	218,775,342	207,431,741

As of December 31, 2021, the balances due from Qingdao Huiju, the Company’s equity method investee in 2021, are related to advances for operational needs without any fixed payment terms. This balance is unsecured, bears no interest, and is expected to be repaid in one year. Qingdao Huiju has been consolidated in the Group’s financial statements since the year of 2022.

As of December 31, 2023, the balances due from Guangzhou Huanglong Information Technology Co., Ltd., a wholly-owned subsidiary of the Company’s equity method investee, were related to advances for operational needs without any fixed payment terms. This balance is unsecured, bears no interest and expected to be repaid in one year.

Henan Hongguang Olympic Real Estate Co., Ltd. (“Henan Hongguang”) is the non-controlling shareholder of Henan Renxin (Note 1), one of the Company’s subsidiaries. As of December 31, 2023, the balance due from Henan Hongguang was related to advances for operational needs without any fixed payment terms. This balance is unsecured, bears no interest, and is expected to be repaid in one year.

Xinzheng Meihang Network Technology Co., Ltd. (“Meihang”) is the non-controlling shareholder of Zhengzhou Hangmei Technology Development Co., Ltd. (“Zhengzhou Hangmei”), one of the Company’s subsidiaries. As of December 31, 2021, the balance due from Meihang was US$2,854,538, which have a three-year payment term, and bear interest at 11.5%. In 2020, Meihang together with Zhengzhou Hangmei entered into an agreement with the Company in which all parties had agreed that the interest relating to the payable balance to be ceased from accrual thereafter. The Company settled the remaining balance in 2022.

As of December 31, 2023, the balance due from Madison Development Limited, an equity method investee, amounting to US$3,689,595 is related to advances for operational needs. This balance is unsecured, bears interest at 15%, and has no fixed repayment term. Accrued interest amounted to US$624,125 as of December 31, 2023.

On September 12, 2017, the Company sold 80% of its equity interest in Suzhou Wanzhuo to four non-affiliated passive investors for an aggregate cash consideration of US$23,687,327. Pursuant to the updated articles of association, the Company still exercises control over the relevant principal activities of Suzhou Wanzhuo and therefore, continues to consolidate it in its financial statements. As of December 31, 2023, the balances due from the non-controlling interest holders amounting to US$28,834,616 are related to advances for working capital funds. The balances are in the form of an unsecured interest bearing loan, which has no fixed payment terms, and bears interest at 4.75%. Accrued interest is immaterial as of December 31, 2023.

On December 1, 2017, the Company together with seven other non-affiliated companies acquired 100% of Taicang Pengchi for an aggregate cash consideration of US$28,836,311. The Company accounted for the acquisition of Taicang Pengchi as an asset acquisition because the only asset of Taicang Pengchi is the land. Pursuant to the articles of association, the Company exercises control over the relevant significant activities of Taicang Pengchi and therefore, consolidates it in its financial statements. As of December 31, 2023, the balance due from the non-controlling interest holders amounting to US$23,494,569 are related to advances for working capital funds. The balances are in the form of an unsecured interest bearing loan, which has no fixed payment terms, and bears no interest.

As of December 31, 2023, the balance due from Suzhou Yefang amounting to US$11,293,716 was related to advances for working capital funds. This balance is unsecured, bears no interest, and is expected to be repaid over one year.

In evaluating the collectability of the amounts due from related parties balance, the Group considers many factors, including the related parties’ repayment history and their credit-worthiness. An allowance for doubtful accounts is made when collection of the full amount is no longer probable. For the periods presented, based on management’s evaluation, no allowance of credit loss was provided.

(b) Amounts due to related parties


	December 31,	December 31,
	2022	2023
	US$	US$
Current:
Suzhou Yefang’s non-controlling interest holders	1,538,601	1,512,945
Suzhou Wanzhuo's non-controlling interest shareholders	2,711,240	2,666,033
Xinzheng Meihang Network Technology Co., Ltd.	—	—
Henan Qingning Apartment Management Co., Ltd.	9,984,106	9,707,534
Suzhou Kairongchen Real Estate Co., Ltd.	41,190,880	40,504,045
Others	11,195,093	18,519,868
Total current amounts due to related parties	66,619,920	72,910,425
Non current:
Henan Qingning Apartment Management Co., Ltd.	—	—
Total	66,619,920	72,910,425

As of December 31, 2022 and 2023, the remaining advance to Suzhou Wanzhuo’s non-controlling interest shareholders amounting to US$2,711,240 and US$2,666,033, respectively, were for shareholder service.

On June 6, 2018, the Company together with four other non-affiliated companies acquired 100% of Suzhou Yefang for an aggregate cash consideration of US$15,615,240. The Company accounted for the acquisition of Suzhou Yefang as an asset acquisition because the only asset of Suzhou Yefang is the land. Pursuant to the articles of association, the Company exercises control over the relevant significant activities of Suzhou Yefang and therefore, consolidates it in its financial statements. As of December 31, 2023, the Company repaid the entire payable to its non-controlling shareholders except for accrued interest amounted to US$1,512,945.

Meihang is the non-controlling shareholder of Zhengzhou Hangmei, one of the Company’s subsidiaries. As of December 31, 2021, Meihang advanced US$2,694,286 of working capital funds to Zhengzhou Hangmei in the form of an unsecured interest 10% bearing loan with a three-year payment term.

In 2020, Meihang together with Zhengzhou Hangmei and entered into an agreement with the Company in which all parties had agreed that the interest relating to the payable balance to be ceased from accrual thereafter. The Company settled the remaining balance in 2022.


	December 31,	December 31,
	2022	2023
	US$	US$
Advances to employees	1,466,055	1,038,494

The balance represents cash advances to employees for traveling expenses and other expenses. The balances are unsecured, bear no interest and have no fixed payment terms.

(d) Others

In 2018, the Company sold a small percentage of the equity interests (ranging from 0.50% to 5.54%) in eight real estate project companies to senior management and employees for a total consideration of US$8,720,772. In 2019, the Company sold an additional percentage of the equity interests in the eight real estate project companies to senior management and employees for a total consideration of US$604,914 and the total sold equity interests ranges from 0.57% to 5.59% as of December 31, 2019. According to the equity transfer agreement, the Company is obligated to repurchase the equity interest back from management. Therefore, the non-controlling interest is mandatorily redeemable and is accounted for as a liability.

In 2019, the Company sold 6.03% of the equity interests in one real estate project company to senior management and employees for a total consideration of US$1,300,135. According to the equity transfer agreement, the Company is obligated to repurchase the equity interest back from management. Therefore, the non-controlling interest is mandatorily redeemable and is accounted for as a liability.

For the year ended December 31, 2023, total directors’ remuneration amounted to US$3,572,912 (2021: US$6,447,214; 2022: US$4,012,619).

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Background information of business and organization (Tables)

12 Months Ended

Dec. 31, 2023

Background information of business and organization

Schedule of Subsidiaries and its Consolidated Variable Interest Entities


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Subsidiary companies:
Xinyuan International Property Investment Co., Ltd.	Cayman Islands October 6, 2011	US$	500,000	100	%	Investment holding company

Xinyuan International (HK) Property Investment Co., Ltd.	Hong Kong October 26, 2011	HK$	3,000,000	100	%	Investment holding company

XIN Development Group International Inc.	United States November 10, 2011	US$	—	100	%	Investment holding company

Xinyuan Real Estate, Ltd.	Cayman Islands January 27, 2006	US$	50,000,000	100	%	Investment holding company

XIN Development Management East, LLC	United States August 28, 2012	US$	1,000	100	%	Property management services

XIN NY Holding, LLC	United States August 29, 2012	US$	1,000	100	%	Investment holding company

421 Kent Development, LLC	United States August 29, 2012	US$	1,000	100	%	Real estate development

Xinyuan Sailing Co., Ltd.	Hong Kong June 21, 2013	HK$	3,000,000	100	%	Investment holding company

AWAN Plasma Sdn Bhd	Malaysia April 16, 2007	MYR	33,577,000	100	%	Real estate development

XIN Eco Marine Group Properties Sdn Bhd	Malaysia July 9, 2014	MYR	33,217,000	100	%	Investment holding company

Zhengzhou Jiasheng Real Estate Co., Ltd.	PRC December 2, 2013	US$	60,000,000	100	%	Real estate development

Xinyuan (China) Real Estate, Ltd. (“Xinyuan China”)	PRC April 10, 2006	US$	307,000,000	100	%	Investment holding company

Henan Xinyuan Real Estate Co., Ltd. (“Henan Xinyuan”)	PRC May 19, 1997	RMB	200,000,000	100	%	Real estate development

Qingdao Xinyuan Xiangrui Real Estate Co., Ltd.	PRC February 9, 2006	RMB	10,000,000	100	%	Real estate development

Shandong Xinyuan Real Estate Co., Ltd.	PRC June 2, 2006	RMB	300,000,000	100	%	Real estate development

Xinyuan Property Management Service (Cayman) Ltd.	Cayman Islands December 13, 2018	HKD	50,000	52.86	%	Investment holding company

Xinyuan Property Management Service (BVI) Ltd	British Virgin Islands January 2, 2019	USD	—	52.86	%	Investment holding company

Xinyuan Property Management Service (HK) Limited	HK January 8, 2019	HKD	1	52.86	%	Investment holding company

Xinyuan Science and Technology Service Group Co., Ltd.	PRC December 28, 1998	RMB	50,000,000	52.86	%	Property management services

Mingyuan Landscape Engineering Co., Ltd.	PRC February 17, 2004	RMB	50,000,000	100	%	Landscaping engineering and management

Henan Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC December 29, 2011	RMB	20,000,000	100	%	Real estate development

Suzhou Xinyuan Real Estate Development Co., Ltd.	PRC November 24, 2006	RMB	200,000,000	100	%	Real estate development

Anhui Xinyuan Real Estate Co., Ltd.	PRC December 7, 2006	RMB	50,000,000	100	%	Real estate development

Kunshan Xinyuan Real Estate Co., Ltd.	PRC January 31, 2008	RMB	200,000,000	100	%	Real estate development

Xinyuan Real Estate (Chengdu) Co., Ltd.	PRC June 12, 2007	RMB	220,000,000	100	%	Real estate development

Xuzhou Xinyuan Real Estate Co., Ltd.	PRC November 9, 2009	RMB	200,000,000	100	%	Real estate development

Henan Xinyuan Jiye Real Estate Co., Ltd.	PRC November 15, 2009	RMB	50,000,000	100	%	Real estate development

Beijing Xinyuan Wanzhong Real Estate Co., Ltd. (“Beijing Wanzhong”)	PRC March 4, 2008	RMB	900,000,000	100	%	Real estate development


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Xinyuan Renju (Beijing) Asset Management Co., Ltd.	PRC January 16, 2009	RMB	30,000,000	100	%	Management consulting service

Beijing Xinyuan Priority Real Estate Consulting Co., Ltd.	PRC March 8, 2012	RMB	30,000,000	100	%	Real estate consulting services

Henan Xinyuan Priority Commercial Management Co., Ltd.	PRC August 10, 2012	RMB	2,000,000	100	%	Leasing management services

Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd. (“Suzhou Wanzhuo”) (Note 18(a))	PRC September 20, 2012	RMB	200,000,000	20	%	Real estate development

Jiangsu Jiajing Real Estate Co., Ltd.	PRC March 28, 2005	RMB	150,000,000	100	%	Real estate development

Xingyang Xinyuan Real Estate Co., Ltd.	PRC July 25, 2013	RMB	200,000,000	100	%	Real estate development

Jinan Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC December 4, 2013	RMB	300,000,000	100	%	Real estate development

Sanya Beida Science and Technology Park Industrial Development Co., Ltd.	PRC January 10, 2014	RMB	200,000,000	100	%	Real estate development

Chengdu Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC February 21, 2014	RMB	50,000,000	100	%	Real estate development

Tianjin Xinyuan Real Estate Co., Ltd.	PRC September 17, 2014	RMB	100,000,000	100	%	Real estate development

Xi’an Yinghuai Square Commerce Management Co., Ltd.	PRC November 25, 2014	RMB	3,000,000	100	%	Retail store

Subsidiary companies:
Changsha Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC April 3, 2014	RMB	100,000,000	100	%	Real estate development

Shanghai Junxin Real Estate Co., Ltd.	PRC January 16, 2014	RMB	5,000,000	100	%	Real estate development

Beijing Yinghuai Commerce and Trade Co., Ltd.	PRC January 5, 2015	RMB	30,000,000	100	%	Retail store

Beijing Xinhe Investment Development Co., Ltd.	PRC May 5, 2015	RMB	5,000,000	100	%	Investment holding company

Henan Xinyuan Guangsheng Real Estate Co., Ltd.	PRC July 27, 2015	RMB	200,000,000	100	%	Real estate development

Shandong Xinyuan Renju Real Estate Co., Ltd.	PRC November 19, 2011	RMB	50,000,000	100	%	Real estate development

Shaanxi Zhongmao Economy Development Co., Ltd.	PRC June 22, 1998	RMB	22,500,000	65.98	%	Real estate development

421 Kent Holding Co, Ltd.	United States May 2, 2014	US$	1,000	100	%	Investment holding company

Hudson 888 Owner LLC	United States October 22, 2015	US$	1,000	100	%	Real estate development

XIN Manhattan Holding LLC	United States December 9, 2015	US$	1,000	100	%	Investment holding company

Hudson 888 Holding LLC	United States December 9, 2015	US$	1,000	100	%	Investment holding company

Shenzhen Xinchuang Investment Consulting Co., Ltd.	PRC January 20, 2016	RMB	10,000,000	100	%	Investment


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Subsidiary companies:
Henan Xinyuan Quansheng Real Estate Co., Ltd.	PRC January 14, 2015	RMB	40,000,000	100	%	Real estate development

Zhengzhou Shengdao Real Estate Co., Ltd.	PRC October 14, 2013	RMB	20,000,000	100	%	Real estate development

Henan Xinyuan Shunsheng Real Estate Co., Ltd.	PRC January 13, 2016	RMB	30,000,000	100	%	Real estate development

Hunan Erli Real Estate Co., Ltd.	PRC January 4, 2008	RMB	50,000,000	100	%	Real estate development

XIN Queens Holding LLC	United States July 6, 2016	US$	1,000	100	%	Investment holding company

Queens Theatre Holdco LLC	United States July 6, 2016	US$	1,000	100	%	Investment holding company

Queens Theatre Owner LLC	United States July 6, 2016	US$	1,000	100	%	Real estate development

Zhengzhou Xinnan Real Estate Co., Ltd.	PRC January 21, 2016	RMB	50,000,000	100	%	Real estate development

Xinyan Investment Management Co., Limited.	PRC April 8, 2016	RMB	100,000,000	90	%	Investment

Hunan Xintian Real Estate Co., Ltd.	PRC September 28, 2009	RMB	20,000,000	100	%	Real estate development

Zhengzhou Hangmei Technology Development Co., Ltd. (1)	PRC November 25, 2014	RMB	50,000,000	100	%	Real estate development

Zhengzhou Hangmei Zhengxing Technology Co., Ltd. (1)	PRC March 28, 2016	RMB	50,000,000	100	%	Real estate consulting services

Xi’an Dingrun Real Estate Co., Ltd.	PRC June 1, 2011	RMB	20,000,000	100	%	Real estate development

Zhengzhou Kangshengboda Real Estate Co., Ltd.	PRC July 29, 2016	RMB	50,000,000	100	%	Real estate development

Zhuhai Prince Real Estate Co., Ltd.	PRC September 13, 1990	RMB	307,000,000	100	%	Real estate development

Henan Renxin Real Estate Co., Ltd. (“Henan Renxin”)	PRC July 11, 2008	RMB	200,000,000	51	%	Real estate development

Xinchuang Technology Co., Ltd. (“Xinchuang Technology”)	PRC May 2, 2017	RMB	100,000,000	100	%	Management consulting services

Hangzhou Huiyuan Investment Management Partnership Enterprise. (Limited partnership)	PRC May 23, 2017	RMB	5,000,000	100	%	Investment holding company

Guangdong Xinyuan Real Estate Co., Ltd.	PRC October 18, 2017	RMB	100,000,000	100	%	Real estate development

Taicang Pengchi Real Estate Co., Limited. (“Taicang Pengchi”) (Note 18(a))	PRC June 16, 2017	RMB	200,000,000	17	%	Real estate development

Khorgos XinYan Enterprise Management Consulting Co., Ltd.	PRC December 4, 2017	RMB	5,000,000	100	%	Management consulting services

Jinan Xinyuan Quansheng Real Estate Co., Ltd.	PRC May 25, 2018	RMB	50,000,000	100	%	Real estate development


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Subsidiary companies:
Suzhou Yuxi Real Estate Co., Limited.	PRC March 5, 2018	RMB	100,000,000	20	%	Real estate development

Xinchuang Sailing (Dalian) Healthy Technology Industrial Investment Co., Ltd.	PRC June 5, 2018	RMB	600,000,000	100	%	Real estate development

Dalian Xinyi Renju Real Estate Co., Ltd.	PRC June 26, 2018	RMB	100,000,000	100	%	Real estate development

Beijing Xinyuan Huicheng Technology Development Co., Ltd.	PRC January 26, 2018	RMB	100,000,000	100	%	Technical services

Suzhou Yefang Real Estate Co., Limited. (“Suzhou Yefang”) (Note 18(b))	PRC April 14, 2017	RMB	100,000,000	20	%	Real estate development

Chengdu Xinyuan Renju Enterprise Management Co., Ltd. (“Chengdu Renju”)	PRC October 26, 2017	RMB	50,000,000	100	%	Real estate development

Chengdu Guohongteng Real Estate Co., Ltd.	PRC July 16, 2010	RMB	1,673,179,200	100	%	Real estate development

Qingdao Keda Real Estate Co., Ltd. (“Qingdao Keda”)	PRC September 20, 2010	RMB	50,000,000	100	%	Real estate development

Wuhan Yinghexin Real Estate Co., Ltd. (“Wuhan Yinghexin”)	PRC January 15, 2014	RMB	100,000,000	100	%	Real estate development

Henan Xinyuan Property Management Co., Ltd.	PRC December 1, 2016	RMB	10,000,000	100	%	Property management services

Subsidiary companies:

Zhuhai Xinyuan Real Estate Co., Ltd.	PRC December 31, 2018	RMB	100,000,000	100	%	Real estate development

Jinan Renju Building Material Co., Ltd.	PRC January 2, 2019	RMB	50,000,000	100	%	Sales of construction material

Dalian Xinyi Yaju Real Estate Co., Ltd.	PRC January 16, 2019	RMB	100,000,000	100	%	Real estate development

Guangdong Xinchuang Kechuang Zhigu Development Co., Ltd.	PRC February 27,2019	RMB	100,000,000	100	%	Real estate development

Jiangxi Xinyuan Heju Enterprise Management Consulting Service Co., Ltd.	PRC April 2,2019	RMB	10,000,000	100	%	Management consulting services

Beijing I-Journey Science and Technology Development Co., Ltd.(“I-Journey”)	PRC October 20,2015	RMB	40,000,000	93	%	Development and sales of robots

Beijing Ruizhuo Xichuang Technology Development Co., Ltd.(“Xichuang”)	PRC July 16,2015	RMB	30,000,000	93	%	Real estate brokerage

Beijing Ruizhuo Xitou Development Co., Ltd. (“ Xitou”)	PRC July 16,2015	RMB	30,000,000	85	%	Internet platform for real estate property financing

Beijing Future Xinzhihui Technology Development Center (Limited Partnership) (“ Xinzhihui”) (Note 9(2))	PRC December 16,2016	RMB	30,000,000	90.67	%	Investment holding company

Beijing Future Xinhujin Technology Development Center (Limited Partnership) (“Xinhujin”) (Note 9(2))	PRC December 30,2016	RMB	20,000,000	89.5	%	Investment holding company

Beijing Future Xinruifeng Technology Development Center (Limited Partnership) (“Xinruifeng”) (Note 9(2))	PRC February 23,2017	RMB	20,000,000	77.5	%	Investment holding company

Beijing Ruihao Rongtong Real Estate Co., Ltd. (“Ruihao Rongtong”)	PRC June 15, 2006	RMB	250,000,000	100	%	Real estate development

Zhengzhou Xinhe Real Estate Co., Ltd	PRC January 8,2020	RMB	50,000,000	80	%	Real estate development

Zhengzhou Xinying Real Estate Co., Ltd.	PRC May 19,2020	RMB	30,000,000	100	%	Real estate development

Zhengzhou Xinyuan Xinsheng Business Management Co. Ltd.	PRC November 2,2020	RMB	1,000,000	100	%	Real estate development

Dalian Xinsheng Industrial Co., Ltd.	PRC December 16,2020	RMB	20,000,000	100	%	Leasing management services

Guoxin Chuangxiang (Tianjin) Enterprise Management Consulting Partnership (Limited Partnership)	PRC January 2,2020	RMB	15,000,000	95.22	%	Management consulting service

Guoxin Chuangzhi (Tianjin) Enterprise Management Consulting Partnership (Limited Partnership)	PRC June 23,2020	RMB	135,000,000	94.41	%	Management consulting service

Chongqing Heavy Duty Vehicle Group Hong Property LLC Wulong Branch	PRC September 26, 2021	RMB	—	100	%	Property management services

Henan Rongyao Catering Service Co., Ltd.	PRC September 23, 2021	RMB	1,000,000	51	%	Catering services

Henan Xinzhixiang Electronic Technology Co., Ltd.	PRC May 20, 2020	RMB	5,000,000	100	%	Electronic commerce

Henan Xinyuan Property Service Co., Ltd.. Xincai Branch	PRC November 19, 2021	RMB	—	—		Property management services

Zhengzhou Shengxin Landscape Engineering Co., Ltd.	PRC November 10, 2021	RMB	10,000,000	51	%	Property management services

Henan Xinyuan Property Service Co., Ltd.. Runan Branch	PRC March 18, 2021	RMB	—	—		Property management services

Guangzhou Yuesheng Commercial Service Co., Ltd.. Zhengzhou Branch	PRC March 30, 2021	RMB	—	—		Management consulting services

Henan Kai Dao real Estate Brokerage Co., Ltd.	PRC September 30, 2021	RMB	10,000,000	100	%	Property management services

Shanghai Xinqiao Trading Co., Ltd. (3)	PRC March 17, 2021	RMB	30,000,000	100	%	Property management services

Hainan Xinyuan Heju Enterprise Management Consulting Service Co., Ltd. (4)	PRC September 27, 2020	RMB	10,000,000	100	%	Management consulting services

Guangzhou Xinyuan Commercial Management Co., Ltd.	PRC March 30, 2021	RMB	1,000,000	100	%	Retail store

Henan Xinyuan Hongsheng Commercial Management Co., Ltd.	PRC May 6, 2021	RMB	1,000,000	100	%	Retail store

Qingdao Huiju Zhihui City Industrial Development Co., Ltd. (2)	PRC June 7, 2016	RMB	2,000,000,000	100	%	Real estate development

Jiangsu Xinyuan Yaju Enterprise Management Co., Ltd.	PRC August 23, 2023	RMB	10,000,000	100	%	Management consulting services

VIE:
Beijing Yuzhouyun Technology Development Center (Limited partnership)) and its subsidiary (“Yuzhouyun”) (Note 2(a))	PRC March 2, 2018	RMB	18,388,300	51	%	Technical services

Beijing Ruizhuo Xihui Technology Development Centre Co., Ltd (Note 2(a))	PRC January 22,2017	RMB	10,000,000	1	%	Technical services

(1)	In 2022, the Company acquired the remaining equity interest of Zhengzhou Hangmei Technology Development Co., Ltd. and Zhengzhou Hangmei Zhengxing Technology Co., Ltd.

(2)	Qingdao Huiju Zhihui City Industrial Development Co., Ltd. has been consolidated in the Group’s financial statements since the year of 2022.

(3)	Liquidated on October 9, 2023.

(4)	Liquidated on June 20, 2023.

Short-term bank loans and other debt - Additional Information (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Short-term bank loans and other debt
Real estate properties development completed	$ 854,076,531	$ 830,840,167
Property and equipment, net	25,543,359	28,831,111
Restricted cash	$ 96,356,223	$ 269,285,004
Weighted average interest rate on short-term bank loans and other debts	5.80%	7.26%
Pledged as collateral
Short-term bank loans and other debt
Land use rights	$ 398,837,052	$ 424,482,379
Short-term Debt \| Pledged as collateral
Short-term bank loans and other debt
Real estate properties development completed	73,101,911	74,341,513
Land use rights	17,349,132	17,643,325
Real estate properties held for lease net book value	17,225,070	17,517,158
Property and equipment, net	8,469,069	8,612,681
Short-term Debt \| Pledged as collateral \| RMB
Short-term bank loans and other debt
Short-term bank loans	63,295,071
Short-term Debt \| Pledged as collateral \| US Dollar
Short-term bank loans and other debt
Short-term bank loans	$ 0	$ 0

Long-term investments - Summarized combined financial information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Long-term investments
Current assets	$ 4,493,212,025	$ 4,889,207,126
Non-current assets	840,181,206	961,071,201
Current liabilities	4,146,503,396	4,792,960,096
Non-current liabilities	1,079,477,453	974,531,402
Non-controlling interest	141,141,196	152,673,930
Gross revenue	804,974,475	950,012,173	$ 1,536,017,781
Gross profit	132,465,356	71,956,108	67,936,916
Net income (loss)	30,531,711	$ (258,682,725)	$ (413,262,114)
Equity method investees
Long-term investments
Current assets	438,421,000
Non-current assets	52,132,000
Current liabilities	94,627,000
Non-current liabilities	281,668,000
Non-controlling interest	0
Gross revenue	199,758,000
Gross profit	19,472,000
Loss from continuing operations	(14,114,000)
Net income (loss)	(12,019,000)
Net loss attributable to the Company	$ (17,914,000)

Condensed financial information of the Company (Tables)

12 Months Ended

Dec. 31, 2023

Condensed financial information of the Company

Schedule of condensed balance sheets

Condensed Balance Sheets


	December 31
	2022	2023
	US$	US$

ASSETS

Current assets
Cash and cash equivalents	2,794,414	344,215
Short-term investments	946,076	286,054
Other receivables	1,037,835	1,051,960
Due from subsidiaries	49,101,879	49,101,879
Total current assets	53,880,204	50,784,108
Investments in subsidiaries	1,008,221,487	985,740,913
TOTAL ASSETS	1,062,101,691	1,036,525,021
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
PRC income tax payable	13,388	13,388
PRC other tax payable	902,190	902,190
Other payable and accrued liabilities	88,642,571	105,408,095
Current portion of long-term bank loan and other debt	721,386,784	392,972,209
Due to subsidiaries	320,978,971	338,802,242
Payroll and welfare payables	64,888	64,509
Total current liabilities	1,131,988,792	838,162,633
Other long-term debt	—	232,091,202
Total liabilities	1,131,988,792	1,070,253,835
Shareholders' equity
Common shares, $0.0001 par value:
Authorized‑500,000,000 shares, issued and outstanding 113,671,841 shares as of December 31, 2023 (2022: 108,029,257 shares)	16,415	17,554
Treasury shares	(116,061,577)	(116,793,448)
Additional paid-in capital	544,954,556	546,549,246
Retained earnings	(498,796,495)	(463,502,166)
Total shareholders' equity	(69,887,101)	(33,728,814)

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,062,101,691	1,036,525,021

Schedule of condensed statements of comprehensive income

Condensed Statements of Comprehensive (Loss)/Income


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
General and administrative expenses	(4,965,230)	(4,993,180)	(1,962,954)

Operating loss	(4,965,230)	(4,993,180)	(1,962,954)
Interest expense	(121,289,406)	(107,459,673)	(116,296,860)
Interest income	545,599	1,139	1,102
Net gain on debt extinguishment	—	9,620,914	169,932,886
Gain/(loss) on short-term investments	(1,627,139)	(68,931,940)	(660,022)
Other expenses/(income)	(878,154)	1,395,668	6,760,754
Equity in profit/(loss) of subsidiaries, net	(289,093,048)	(92,986,489)	(17,492,881)
(Loss)/income from operations before income taxes	(417,307,378)	(263,353,561)	40,282,025
Income taxes	—	—	—
Net (loss)/income attributable to common shareholders	(417,307,378)	(263,353,561)	40,282,025
Other comprehensive income/(loss), net of tax of nil
Foreign currency translation adjustments	17,818,154	(56,538,757)	(4,987,693)
Comprehensive (loss)/income attributable to shareholders	(399,489,224)	(319,892,318)	35,294,332

Schedule of condensed statements of cash flows

Condensed Statements of Cash Flows


	Year ended December 31,
	2021	2022	2023
	US$	US$	US$
Cash flows from operating activities:
Net (loss)/income	(417,307,378)	(263,353,561)	40,282,023
Adjustment to reconcile net (loss) income to net cash used in operating activities:
Equity in (profit)/loss of subsidiaries, net	289,093,048	92,986,489	17,492,881
Stock based compensation expense	1,625,318	568,046	—
Loss on short-term investments	1,627,139	68,931,940	660,022
Proceeds from disposal of short-term investments	—	359,025	—
Amortization of deferred charges	—	5,472,222	7,739,849
Loss/(gain) on extinguishment of debt	—	(9,620,914)	(169,932,886)
Other receivables	168,246	634,819	(14,125)
Other current assets	—	—	—
Other payable and accrued liabilities	4,000,802	53,426,168	93,426,988
Payroll and welfare payables	1,363,218	(460,149)	(381)
Net cash used in operating activities	(119,429,607)	(51,055,915)	(10,345,629)
Cash flows from investing activities:
Investment in short-term investments	(72,502,807)	—	—
Net cash used in investing activities	(72,502,807)	—	—
Cash flows from financing activities:
Changes in due from subsidiaries	447,436,262	54,889,206	17,823,271
Proceeds from short-term bank loans	—	—	—
Repayment of current portion of long-term bank loan and other long-term debt	(128,520,000)	—	(10,791,800)
Proceeds from long-term bank loans	—	—	—
Proceeds from other long-term debts	270,000,000	—	—
Repayment of other long-term debts	(390,958,220)	(1,199,086)	—
Purchase of treasury shares	—	—	(731,871)
Dividends to shareholders	(4,055,664)	—	—
Payment of financing cost	(4,272,797)	—	—
Proceeds from issuance of common shares	—	—	1,595,830
Net cash provided by financing activities	189,629,581	53,690,120	7,895,430
Net (decrease)/increase in cash and cash equivalents	(2,302,833)	2,634,205	(2,450,199)
Cash and cash equivalents, at the beginning of the year	2,463,042	160,209	2,794,414

Cash and cash equivalents, at end of the period	160,209	2,794,414	344,215

Share-based compensation (Details)	12 Months Ended
Share-based compensation (Details)	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Share-based compensation
Number of share based compensation plans \| item	4
Compensation cost	$ 0	$ 568,047	$ 3,413,610
Tax benefit recognized upon the recognition of compensation cost	$ 0

Commitments and contingencies

12 Months Ended

Dec. 31, 2023

Commitments and contingencies.

Commitments and contingencies

21. Commitments and contingencies

Other commitments

As of December 31, 2023, the Group had outstanding commitments with respect to non-cancellable construction contracts for real estate development and land use rights purchases as follows:


		Amount
		US$
2024		531,196,138
2025		470,273,059
2026		107,110,957
2027		39,052,653
2028 and thereafter		—
Total		1,147,632,807

Contingencies

As of December 31, 2023, the Group provided guarantees of US$1,926,419,080 (2021: US$2,156,348,238; 2022: US$2,110,456,012), in favor of its customers in respect of mortgage loans granted by banks to such customers for their purchases of the Group’s properties where the underlying real estate ownership certificates can only be provided to the banks on a time delay manner due to administrative procedures in the PRC. Pursuant to the terms of the guarantees, upon default in mortgage payments by these purchasers, the Group is responsible to repay the outstanding mortgage principal together with the accrued interest and penalty owed by the defaulted purchasers to the bank and the Group is entitled to take over the legal titles and possession of the related properties. The Group’s guarantee period starts from the date of grant of the relevant mortgage loan and ends upon issuance of real estate ownership certificate which will generally be available within six to twelve months after the purchaser takes possession of the relevant property. The Group paid US$3,723,398, US$4,068,840 and US$2,286,938 to satisfy guarantee obligations related to customer defaults for the years ended December 2021, 2022 and 2023, respectively.

The fair value of the guarantees is not significantly different than the net realizable value of the properties and management considers that in case of default in payments, the net realizable value of the related properties can cover the repayment of the outstanding mortgage principal together with the accrued interest and penalty and therefore no provision has been made for the guarantees.

At December 31, 2023, the Group provided financial guarantees for bank loans of four of its equity method investees. The Group could incur losses in the event of defaults under or foreclosure of these loans and its maximum exposure to credit losses is US$202,187,414 (2022: US$226,755,305). The fair value of the guarantees is not significant and the Group considers that in case of default in payments, the net realizable value of the related properties can cover the repayment of the outstanding bank loans together with the accrued interest and penalty and therefore, no provision has been made for the guarantees in the consolidated financial statements.

Background information of business and organization (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 MYR (RM)	Dec. 31, 2023 HKD ($)
Henan Rongyao Catering Service Co [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 23, 2021
Registered Capital	$ 1,000,000
Percentage of Equity Attributable to the Group	51.00%	51.00%	51.00%	51.00%
Hudson 888 Owner LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Oct. 22, 2015
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan International Property Investment Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Oct. 06, 2011
Registered Capital	$ 500,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan International (HK) Property Investment Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Oct. 26, 2011
Registered Capital				$ 3,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
XIN Development Group International Inc [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 10, 2011
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan Real Estate, Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 27, 2006
Registered Capital	$ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
XIN Development Management East, LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Aug. 28, 2012
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
XIN NY Holding, LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Aug. 29, 2012
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
421 Kent Development, LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Aug. 29, 2012
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan Sailing Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 21, 2013
Registered Capital				$ 3,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
AWAN Plasma Sdn Bhd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Apr. 16, 2007
Registered Capital \| RM			RM 33,577,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
XIN Eco Marine Group Properties Sdn Bhd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 09, 2014
Registered Capital \| RM			RM 33,217,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Jiasheng Real Estate Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 02, 2013
Registered Capital	$ 60,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan (China) Real Estate, Ltd ("Xinyuan China") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Apr. 10, 2006
Registered Capital	$ 307,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Real Estate Co., Ltd. ("Henan Xinyuan") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 19, 1997
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Qingdao Xinyuan Xiangrui Real Estate Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Feb. 09, 2006
Registered Capital \| ¥		¥ 10,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Shandong Xinyuan Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 02, 2006
Registered Capital \| ¥		¥ 300,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan Property Management Service(Cayman) Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 13, 2018
Registered Capital	$ 50,000
Percentage of Equity Attributable to the Group	52.86%	52.86%	52.86%	52.86%
Xinyuan Property Management Service (BVI) Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 02, 2019
Percentage of Equity Attributable to the Group	52.86%	52.86%	52.86%	52.86%
Xinyuan Property Management Service (HK) Limited [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 08, 2019
Registered Capital				$ 1
Percentage of Equity Attributable to the Group	52.86%	52.86%	52.86%	52.86%
Xinyuan Science and Technology Service Group Co,Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 28, 1998
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	52.86%	52.86%	52.86%	52.86%
Mingyuan Landscape Engineering Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Feb. 17, 2004
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Wanzhuo Real Estate Co,Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 29, 2011
Registered Capital \| ¥		¥ 20,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Suzhou Xinyuan Real Estate Development Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 24, 2006
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Anhui Xinyuan Real Estate Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 07, 2006
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Kunshan Xinyuan Real Estate Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 31, 2008
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan Real Estate (Chengdu) Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 12, 2007
Registered Capital \| ¥		¥ 220,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xuzhou Xinyuan Real Estate Co Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 09, 2009
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Jiye Real Estate Co Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 15, 2009
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Beijing Xinyuan Wanzhong Real Estate Co, Ltd ("Beijing Wanzhong") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 04, 2008
Registered Capital \| ¥		¥ 900,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyuan Renju (Beijing) Asset Management Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 16, 2009
Registered Capital \| ¥		¥ 30,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Beijing Xinyuan Priority Real Estate Consulting Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 08, 2012
Registered Capital \| ¥		¥ 30,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Priority Commercial Management Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Aug. 10, 2012
Registered Capital \| ¥		¥ 2,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd. ("Suzhou Wanzhuo") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 20, 2012
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	20.00%	20.00%	20.00%	20.00%
Jiangsu Jiajing Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 28, 2005
Registered Capital \| ¥		¥ 150,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xingyang Xinyuan Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 25, 2013
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Jinan Xinyuan Wanzhuo Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 04, 2013
Registered Capital \| ¥		¥ 300,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Sanya Beida Science and Technology Park Industrial Development Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 10, 2014
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Chengdu Xinyuan Wanzhuo Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Feb. 21, 2014
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Tianjin Xinyuan Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 17, 2014
Registered Capital \| ¥		¥ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xi'an Yinghuai Commerce and Trade Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 25, 2014
Registered Capital \| ¥		¥ 3,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Changsha Xinyuan Wanzhuo Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Apr. 03, 2014
Registered Capital \| ¥		¥ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Shanghai Junxin Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 16, 2014
Registered Capital \| ¥		¥ 5,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Beijing Yinghuai Commerce And Trade Co Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 05, 2015
Registered Capital \| ¥		¥ 30,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Beijing Xinhe Investment Development Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 05, 2015
Registered Capital \| ¥		¥ 5,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Guangsheng Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 27, 2015
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Shandong Xinyuan Renju Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 19, 2011
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Shaanxi Zhongmao Economy Development Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 22, 1998
Registered Capital \| ¥		¥ 22,500,000
Percentage of Equity Attributable to the Group	65.98%	65.98%	65.98%	65.98%
421 Kent Holding Co Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 02, 2014
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
XIN Manhattan Holding LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 09, 2015
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Hudson 888 Holding LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 09, 2015
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Shenzhen Xinchuang Investment Consulting Co., Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 20, 2016
Registered Capital \| ¥		¥ 10,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Shengdao Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Oct. 14, 2013
Registered Capital \| ¥		¥ 20,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Shunsheng Real Estate Co, Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 13, 2016
Registered Capital \| ¥		¥ 30,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Hunan Erli Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 04, 2008
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
XIN Queens Holding LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 06, 2016
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Queens Theatre Holdco LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 06, 2016
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Queens Theatre Owner LLC [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 06, 2016
Registered Capital	$ 1,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Xinnan Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 21, 2016
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xinyan Investment Management Co., Limited. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Apr. 08, 2016
Registered Capital \| ¥		¥ 100,000,000
Percentage of Equity Attributable to the Group	90.00%	90.00%	90.00%	90.00%
Hunan Xintian Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 28, 2009
Registered Capital \| ¥		¥ 20,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Hangmei Technology Development Co., Ltd.("Zhengzhou Hangmei") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 25, 2014
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Quansheng Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 14, 2015
Registered Capital \| ¥		¥ 40,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Hangmei Zhengxing Technology Co., Ltd. Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 28, 2016
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Xi'an Dingrun Real Estate Co., Ltd. ("Xi'an Dingrun") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 01, 2011
Registered Capital \| ¥		¥ 20,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Kangshengboda Real Estate Co Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 29, 2016
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhuhai Prince Real Estate Co., Ltd. ("Zhuhai Prince") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 13, 1990
Registered Capital \| ¥		¥ 307,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Renxin Real Estate Co., Ltd. ("Henan Renxin") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 11, 2008
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	51.00%	51.00%	51.00%	51.00%
Xinchuang Technology Co., Ltd. ("Xinchuang Technology ") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 02, 2017
Registered Capital \| ¥		¥ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Hangzhou Huiyuan Investment Management Partnership Enterprise (Limited partnership) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 23, 2017
Registered Capital \| ¥		¥ 5,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Guangdong Xinyuan Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Oct. 18, 2017
Registered Capital \| ¥		¥ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Taicang Pengchi Real Estate Co., Limited. ("Taicang Pengchi") [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 16, 2017
Registered Capital \| ¥		¥ 200,000,000
Percentage of Equity Attributable to the Group	17.00%	17.00%	17.00%	17.00%
Khorgos XinYan Enterprise Management Consulting Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 04, 2017
Registered Capital \| ¥		¥ 5,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Jinan Xinyuan Quansheng Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 25, 2018
Registered Capital \| ¥		¥ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Suzhou Yuxi Real Estate Co., Limited. ("Suzhou Yuxi") (2) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 05, 2018
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	20.00%	20.00%	20.00%	20.00%
Xinchuang Sailing (Dalian) Healthy Technology Industrial Investment Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 05, 2018
Registered Capital	$ 600,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Dalian Xinyi Renju Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 26, 2018
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Beijing Xinyuan Huicheng Technology Development Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 26, 2018
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Suzhou Yefang Real Estate Co., Limited. ("Suzhou Yefang") (3) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Apr. 14, 2017
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	20.00%	20.00%	20.00%	20.00%
Chengdu Xinyuan Renju Enterprise Management Co., Ltd. ("Chengdu Renju") (4) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Oct. 26, 2017
Registered Capital	$ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Chengdu Guohongteng Real Estate Co., Ltd. ("Chengdu Guohongteng") (5)
Background information of business and organization
Registered Place and Date of Incorporation	Jul. 16, 2010
Registered Capital	$ 1,673,179,200
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Qingdao Keda Real Estate Co., Ltd. ("Qingdao Keda") (6) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 20, 2010
Registered Capital	$ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Wuhan Yinghexin Real Estate Co., Ltd. ("Wuhan Yinghexin") (7) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 15, 2014
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Property Management Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 01, 2016
Registered Capital	$ 10,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhuhai Xinyuan Real Estate Co Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Dec. 31, 2018
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Jinan Renju Building Material Co., Ltd.
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 02, 2019
Registered Capital	$ 50,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Dalian Xinyi Yaju Real Estate Co., Ltd.
Background information of business and organization
Registered Place and Date of Incorporation	Jan. 16, 2019
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Guangdong Xinchuang Kechuang Zhigu Development Co., Ltd.
Background information of business and organization
Registered Capital	$ 100,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Jiangxi Xinyuan Heju Enterprise Management Consulting Service Co., Ltd.
Background information of business and organization
Registered Capital	$ 10,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Beijing I-Journey Science and Technology Development Co., Ltd. (I-Journey) [Member]
Background information of business and organization
Registered Capital	$ 40,000,000
Percentage of Equity Attributable to the Group	93.00%	93.00%	93.00%	93.00%
Beijing Ruizhuo Xichuang Technology Development Co., Ltd.("Xichuang") [Member]
Background information of business and organization
Registered Capital	$ 30,000,000
Percentage of Equity Attributable to the Group	93.00%	93.00%	93.00%	93.00%
Beijing Ruizhuo Xitou Development Co., Ltd. ("Xitou")
Background information of business and organization
Registered Capital	$ 30,000,000
Percentage of Equity Attributable to the Group	85.00%	85.00%	85.00%	85.00%
Beijing Future Xinzhihui Technology Development Center (Limited Partnership) ("Xinzhihui") [Member]
Background information of business and organization
Registered Capital	$ 30,000,000
Percentage of Equity Attributable to the Group	90.67%	90.67%	90.67%	90.67%
Beijing Future Xinhujin Technology Development Center (Limited Partnership) ("Xinhujin") [Member]
Background information of business and organization
Registered Capital	$ 20,000,000
Percentage of Equity Attributable to the Group	89.50%	89.50%	89.50%	89.50%
Beijing Future Xinruifeng Technology Development Center (Limited Partnership) (Xinruifeng) [Member]
Background information of business and organization
Registered Capital	$ 20,000,000
Percentage of Equity Attributable to the Group	77.50%	77.50%	77.50%	77.50%
Beijing Ruihao Rongtong Real Estate Co., Ltd. ("Ruihao Rongtong") (Note 2(a)) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 15, 2006
Registered Capital	$ 250,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Xinhe Real Estate Co, Ltd [Member]
Background information of business and organization
Registered Capital	$ 50,000,000
Percentage of Equity Attributable to the Group	80.00%	80.00%	80.00%	80.00%
Zhengzhou Xinying Real Estate Co., Ltd. [Member]
Background information of business and organization
Registered Capital	$ 30,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Xinyuan Xinsheng Business Management Co. Ltd. [Member]
Background information of business and organization
Registered Capital	$ 1,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Dalian Xinsheng Industrial Co., Ltd. [Member]
Background information of business and organization
Registered Capital	$ 20,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Guoxin Chuangxiang (Tianjin) Enterprise Management Consulting Partnership (Limited Partnership) [Member]
Background information of business and organization
Registered Capital	$ 15,000,000
Percentage of Equity Attributable to the Group	95.22%	95.22%	95.22%	95.22%
Guoxin Chuangzhi (Tianjin) Enterprise Management Consulting Partnership (Limited Partnership) [Member]
Background information of business and organization
Registered Capital	$ 135,000,000
Percentage of Equity Attributable to the Group	94.41%	94.41%	94.41%	94.41%
Chongqing Heavy Duty Vehicle Group Hong Property Llc Wulong Branch [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 26, 2021
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinzhixiang Electronic Technology Co [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 20, 2020
Registered Capital	$ 5,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Zhengzhou Shengxin Landscape Engineering Co., Ltd [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 10, 2021
Registered Capital	$ 10,000,000
Percentage of Equity Attributable to the Group	51.00%	51.00%	51.00%	51.00%
Henan Xinyuan Property Service Co., Ltd.. Runan Branch [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 18, 2021
Henan Xinyuan Property Service Co Ltd Xincai Branch [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Nov. 19, 2021
Henan Kai Dao real Estate Brokerage Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 30, 2021
Registered Capital	$ 10,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Shanghai Xinqiao Trading Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 17, 2021
Registered Capital	$ 30,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Hainan Xinyuan Heju Enterprise Management Consulting Service Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Sep. 27, 2020
Registered Capital	$ 10,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Guangzhou Xinyuan Commercial Management Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 30, 2021
Registered Capital	$ 1,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Henan Xinyuan Hongsheng Commercial Management Co., Ltd. [Member]
Background information of business and organization
Registered Place and Date of Incorporation	May 06, 2021
Registered Capital	$ 1,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Qingdao Huiju Zhihui City Industrial Development Co., Ltd.
Background information of business and organization
Registered Place and Date of Incorporation	Jun. 07, 2016
Registered Capital	$ 2,000,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Jiangsu Xinyuan Yaju Enterprise Management Co., Ltd.
Background information of business and organization
Registered Capital	$ 10,000,000
Percentage of Equity Attributable to the Group	100.00%	100.00%	100.00%	100.00%
Beijing Yuzhouyun Technology Development Center (Limited partnership) ("Yuzhouyun") (Note 2(a)) [Member]
Background information of business and organization
Registered Place and Date of Incorporation	Mar. 02, 2018
Registered Capital	$ 18,388,300
Percentage of Equity Attributable to the Group	51.00%	51.00%	51.00%	51.00%
Beijing Ruizhuo Xihui Technology Development Centre Co., Ltd (Note 2(a)) [Member]
Background information of business and organization
Registered Capital	$ 10,000,000
Percentage of Equity Attributable to the Group	1.00%	1.00%	1.00%	1.00%

Income taxes - CIT Reconciliation (Details) - USD ($)	12 Months Ended
Income taxes - CIT Reconciliation (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income taxes
CIT tax rate	25.00%	25.00%	25.00%
CIT at rate of 25%	$ 21,451,790	$ (62,360,316)	$ (105,135,661)
Tax effect of non-taxable income	(7,508,336)	(20,815,682)	(3,729,808)
Tax effect of non-deductible expenses	(3,025,167)	8,849,339	55,981,806
Unrecognized tax benefits	(12,673,506)
LAT expense	70,422,049	26,862,350	39,101,310
CIT benefit of LAT	(17,605,512)	(6,715,587)	(9,775,327)
Changes in valuation allowance	24,493,566	31,860,999	13,925,825
International rate differences	(18,620,948)	42,918,080	14,983,887
Dividend and interest withholding taxes	(321,096)	889,259	(17,148,376)
Adjustment of estimated income tax accruals	(1,315,644)	(8,220,977)	3,085,497
Others	(21,745)	(4,026,003)	1,430,320
Income tax expense/(benefit)	$ 55,275,451	$ 9,241,462	$ (7,280,528)

Real estate properties development completed and under development (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate Properties [Line Items]
Real estate properties development completed	$ 854,076,531	$ 830,840,167
Real estate properties under development	2,453,888,438	2,446,216,486	$ 2,869,622,702
Total real estate properties development completed and under development	3,307,964,969	3,277,056,653
Collateral Pledged [Member]
Real Estate Properties [Line Items]
Land use rights net	398,837,052	424,482,379
Land use rights [Member]
Real Estate Properties [Line Items]
Total real estate properties development completed and under development	$ 1,589,737,091	$ 1,729,523,333

Income taxes - Unrecognized tax benefit and LAT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unrecognized tax benefit
Balance at January 1	$ 135,562,075	$ 130,560,908	$ 101,198,970
Additions for tax positions of current year	23,209,764	6,295,454	29,025,853
Reclassification from prior year tax payable	0	0	0
Reductions for tax positions of prior years	(42,880,080)	0	0
Movement in current year due to foreign exchange rate fluctuation	(12,844,072)	(1,294,287)	336,085
Balance at December 31	103,047,687	135,562,075	130,560,908
Unrecognized tax benefits, interest on income taxes expense	23,939,130	10,042,468	25,287,932
Unrecognized tax benefits, late payment interest	996,540	4,304,458	3,128,988
Unrecognized tax benefits, late payment interests from prior period	1,725,906	557,444	608,933
Unrecognized tax benefits	$ 12,673,506	$ 13,279,620	$ 13,678,371
Minimum [Member]
Unrecognized tax benefit
LAT Progressive Rate	30.00%
Maximum [Member]
Unrecognized tax benefit
LAT Progressive Rate	60.00%

Other receivables - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2020
Other receivables
Credit loss				$ 14,245,346	$ 14,137,430
Real estate properties held for lease, net member
Other receivables
Other receivables				378,656,298	383,513,125
Henan Derun Real Estate Co. Ltd ("Henan Derun")
Other receivables
Interest rate		18.00%
Percentage of ownership interest used to settle receivables through transfer of certain parcels of land properties	80.00%
Settlement of bank loans to release the land pledged in bank	$ 77,100,000
Other receivables				140,261,069	142,448,841
Zhengzhou Yongzhi Jianxin Meiyu Private Equity Fund ("Zhengzhou Yongzhi")
Other receivables
Other receivables			$ 22,590,255	22,590,255	$ 22,973,322
Equity interest transferred (in percent)						98.00%
Consideration for transfer of equity interest						$ 122,607,243
Payments received for transfer of equity interest			$ 98,085,794
Credit loss				$ 0

Other long-term debt

12 Months Ended

Dec. 31, 2023

Other long-term debt.

Other long-term debt

11. Other long-term debt

As of December 31, 2022 and 2023, other long-term debt analyzed by final installment maturity dates consisted of the following:


	December 31,	December 31,
	2022	2023
	US$	US$
Senior notes
June 2022 Senior notes due on June 29, 2022 at 12.00% per annum	79,646,560	72,641,789
September 2023 Senior notes due on September 17, 2023 at 14.50% per annum	249,723,695	150,030,000
October 2023 notes due on October 15, 2023 at 14.20% per annum	131,475,779	17,118,420
January 2024 notes due on January 25, 2024 at 14.00% per annum	260,540,750	153,182,000
September 2027 Senior notes due on September 30, 2027 at 3% per annum	—	232,091,202

Corporate bonds
Due November 13, 2025 at 8.35% per annum	25,257,603	24,836,447
Due January 7, 2026 at 8.35% per annum	14,049,622	13,815,353

Loan from Ping An Trust Co., Ltd
Due May 31. 2023 at 12.80% per annum	20,898,544	—

Loan from China Huarong Asset Management Co., Ltd
Due April 20, 2026 at 12.50% per annum (Due April 20, 2024 at 12.00% per annum before debt extension)	32,880,567	32,332,303
Due November 27, 2023 at 12.50% per annum	19,093,702	18,775,326

Loan from Chang An International Trust Co., Ltd
Due September 15, 2026 at 4.75% per annum (Due December 24, 2023 at 9.00% per annum before debt extension)	155,069,925	134,850,420

Loan from Min Sheng Finance Lease Co., Ltd
Due June 19, 2023 at 6.52% per annum	4,842,975	—

Loan from Tianjin Huaxin Funian Leasing Co., Ltd
Due April 6, 2025 at 8.90% per annum	—	8,034,949

Loan from Daye Trust Co., Ltd
Due August 31, 2022 at 11.50% per annum	86,149,958	84,713,457
Due October 16, 2022 at 14.50% per annum	28,716,653	28,237,819

Loan from Hubei Tian Qian Asset Management Co., Ltd
Due November 15, 2023 at 12.00% per annum	22,973,322	12,707,019

Loan from Qingdao Xifa Commercial Factoring Co., Ltd
Due June 20,2024 at 9.00% per annum (Due June 20,2023 at 9.00% per annum before debt extension)	43,074,979	44,011,465

Loan from Qingdao Haifa Finance Leasing Co., Ltd
Due January 26,2025 at 13.00% per annum (Due January 24,2024 at 9.00% per annum before debt extension)	1,952,732	1,073,037

Loan from Qingdao West Coast Small Loan Co., Ltd
Due January 26,2025 at 13.00% per annum (Due January 24,2024 at 13.00% per annum before debt extension)	4,307,498	4,235,673

Loan from Qingdao Rongfu Huijin Asset Management Co., Ltd
Due May 20,2024 at 9.00% per annum	35,895,816	35,297,274

Loan from Zhengzhou Jinshui Construction Comprehensive Development General Company
Due February 5,2026 at 2.80% to 3.00% per annum	7,753,496	15,389,611


Loan from China Development Bank Henan Branch
Due February 7,2026 at 2.80% to 3.00% per annum	85,575,625	101,839,225


Loan from Dalian Lvshunkou District State-owned Capital Investment and Operation Group Co., Ltd
Due August 31,2025 at 2.80% to 3.20% per annum	143,583	10,045,890

Loan from Ares Management
Due January 21, 2024 at Mortgage: 6.5%+Term SOFR, Mezz: 18.7%+Term SOFR per annum	82,144,392	76,685,804

Loan from Kriss Capital LLC
Due April 4, 2024 at 7.25%+Term SOFR per annum (Due April 4, 2023 at 7.25%+Term SOFR per annum before debt extension)	36,137,739	19,085,161

Loan from Mezzanine Loan
Due April 4, 2024 at 9.5%+Term SOFR per annum (Due October 4, 2023 at 9.5%+Term SOFR per annum before debt extension)	5,500,000	5,500,000

Loan from Mezzanine Loan
Due April 4, 2024 at 9.5%+Term SOFR per annum (Due October 4, 2023 at 9.5%+Term SOFR per annum before debt extension)	34,425,000	34,425,000

Total principal of other long-term debt	1,468,230,517	1,330,848,464
Less: current portion of other long-term debt	(1,209,149,107)	(854,814,983)
Total other long-term debt	259,081,410	476,033,481

The June 2022, September 2023, October 2023 and January 2024 Senior Secured Notes are senior secured pari passu obligations of the Company.

As of December 31, 2023, the contractual maturities of these debts are as follows:


Year		Amount
		US$
2024		854,814,983
2025		146,288,126
2026		97,654,153
2027		232,091,202
2028 and thereafter		—
Less: current portion of other long-term debt		(854,814,983)
Total: Other long-term debt		476,033,481

The Company did not made payments in full for June 2022 Senior Secured Notes of RMB545.3 million at maturity on June 29, 2022. The default in repayment triggered the default term of other senior notes. The carrying amount of senior notes still in default was US$393.0 million as at December 31, 2023.

As of December 31, 2023, US$802,180,290 of the Group’s other long-term debt was denominated in RMB and mainly secured by the Group’s real estate properties under development with net book value of US$340,187,890 (2022: US$336,107,945), land use rights with net book value of US$131,931,734 (2022: US$145,339,253), real estate properties held for lease with net book value of US$107,905,636 (2022: US$107,905,636), real estate properties development completed with net book value of US$63,709,985 (2022: US$54,777,898), and property and equipment with net book value of US$11,403,753 (2022: US$14,060,566). As of December 31, 2023, US$528,668,174 of the Group’s other long-term debt, mainly consisted of the Senior Secured Notes, was denominated in U.S. dollar.

June 2022 Senior Secured Notes

On July 3, 2020 and August 6, 2020, the Company issued an aggregate principal amount of RMB514.5 million (US$75 million) of the June 2022 Senior Secured Notes. The June 2022 Senior Secured Notes bear interest at 12.00% per annum payable semi-annually. Interest will be payable on December 29 and June 29 of each year, commencing December 29, 2020. The June 2022 Senior Secured Notes have a two-year term maturing on June 29, 2022.

The effective interest rate of June 2022 Senior Secured Notes is 15.69%.

The June 2022 Senior Secured Notes were issued pursuant to an indenture, dated June 29, 2020, between the Company, the “Subsidiary Guarantors” identified below and Citicorp International Limited, as trustee and collateral agent (the “June 2022 Indenture”). The Company’s obligations under the June 2022 Indenture and the June 2022 Senior Secured Notes have been guaranteed by certain of the Company’s wholly-owned subsidiaries, Xinyuan Real Estate, Ltd., Xinyuan International Property Investment Co., Ltd., Victory Good Development Ltd., South Glory International Ltd., Elite Quest Holdings Ltd. and Xinyuan International (HK) Property Investment Co., Limited (the “Subsidiary Guarantors”) and will be guaranteed by such other future subsidiaries of the Company as is set forth in and in accordance with the terms of the June 2022 Indenture. The Company’s obligations under the June 2022 Indenture and the June 2022 Senior Secured Notes are secured by a pledge of the capital stock of the Company’s wholly-owned subsidiaries, Xinyuan Real Estate, Ltd., Xinyuan International Property Investment Co., Ltd., Victory Good Development Limited, South Glory International Limited and Elite Quest Holdings Ltd.

At any time prior to June 29, 2022, the Company may at its option redeem the June 2022 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the June 2022 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any June 2022 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such June 2022 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such June 2022 Senior Secured Note, plus all required remaining scheduled interest payments due on such June 2022 Senior Secured Note through the maturity date of the June 2022 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the June 2022 Indenture) plus 100 basis points, over (B) the principal amount of such June 2022 Senior Secured Note on such redemption date.

At any time prior to June 29, 2022, the Company may redeem up to 35% of the aggregate principal amount of the June 2022 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 112% of the principal amount of the June 2022 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the June 2022 Senior Secured Notes issued on June 29, 2020 remains outstanding after each such redemption.

The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the June 2022 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the June 2022 Senior Secured Notes.

The June 2022 Indenture, contains certain covenants that, among others, restrict the Company’s ability and the ability of the Company’s Restricted Subsidiaries (as defined in the June 2022 Indenture) to incur additional debt or to issue preferred stock, to make certain payments or investments, to pay dividends or purchase or redeem capital stock, to sell assets (including limitations on the use of proceeds of asset sales), to grant liens on the collateral securing the June 2022 Senior Secured Notes or other assets, to make certain other payments or to engage in transactions with affiliates and holders of more than 10% of the Company’s Common Shares, subject to certain qualifications and exceptions and satisfaction, in certain circumstances of specified conditions, such as a Fixed Charge Coverage Ratio (as defined in the June 2022 Indenture) of 2.0 to 1.0.

September 2023 Senior Secured Notes

On September 17, 2020, the Company issued an aggregate principal amount of US$300 million of the September 2023 Senior Secured Notes. The September 2023 Senior Secured Notes bear interest at 14.50% per annum payable semi-annually. Interest will be payable on March 17 and September 17 of each year, commencing March 17, 2021. The September 2023 Senior Secured Notes have a three-year term maturing on September 17, 2023.

The effective interest rate of September 2023 Senior Secured Notes is 15.69%.

The September 2023 Senior Secured Notes were issued pursuant to an indenture, dated September 17, 2020, between the Company, the Subsidiary Guarantors and Citicorp International Limited, as trustee and collateral agent (the “September 2023 Indenture”). The Company’s obligations under the September 2023 Indenture and the September 2023 Senior Secured Notes have been guaranteed by the Subsidiary Guarantors and will be guaranteed by such other future subsidiaries of the Company as is set forth in and in accordance with the terms of the September 2023 Indenture. The Company’s obligations under the September 2023 Indenture and the September 2023 Senior Secured Notes are secured by a pledge of the capital stock of the Company’s wholly-owned subsidiaries, Xinyuan Real Estate, Ltd., Xinyuan International Property Investment Co., Ltd., Victory Good Development Limited, South Glory International Limited and Elite Quest Holdings Ltd.

At any time prior to September 17, 2023, the Company may at its option redeem the September 2023 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the September 2023 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any September 2023 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such September 2023 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such September 2023 Senior Secured Note, plus all required remaining scheduled interest payments due on such September 2023 Senior Secured Note through the maturity date of the September 2023 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the September 2023 Indenture) plus 100 basis points, over (B) the principal amount of such September 2023 Senior Secured Note on such redemption date.

At any time prior to September 17, 2023, the Company may redeem up to 35% of the aggregate principal amount of the September 2023 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 114.5% of the principal amount of the September 2023 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the September 2023 Senior Secured Notes issued on September 17, 2020 remains outstanding after each such redemption.

The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the September 2023 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the September 2023 Senior Secured Notes.

The September 2023 Indenture, contains certain covenants that, among others, restrict the Company’s ability and the ability of the Company’s Restricted Subsidiaries (as defined in the September 2023 Indenture) to incur additional debt or to issue preferred stock, to make certain payments or investments, to pay dividends or purchase or redeem capital stock, to sell assets (including limitations on the use of proceeds of asset sales), to grant liens on the collateral securing the September 2023 Senior Secured Notes or other assets, to make certain other payments or to engage in transactions with affiliates and holders of more than 10% of the Company’s Common Shares, subject to certain qualifications and exceptions and satisfaction, in certain circumstances of specified conditions, such as a Fixed Charge Coverage Ratio (as defined in the September 2023 Indenture) of 2.0 to 1.0.

From January 1, 2020 to December 31, 2020, the Company redeemed the September 2023 Senior Secured Notes for a total principal amount of US$1 million. The Company recognized loss on extinguishment of debt amounting to US$7,334, consisting of the loss from the difference between repurchase price and principal amount of the debt amounting to US$7,334.

From January 1, 2021 to December 31, 2021, the Company redeemed the September 2023 Senior Secured Notes for a total principal amount of US$41.2 million.

From January 1, 2022 to December 31, 2022, the Company redeemed the September 2023 Senior Secured Notes for a total principal amount of US$3.5 million.

January 2024 Senior Secured Notes

On January 25, 2021 and February 9, 2021, the Company issued a collective aggregate principal amount of US$270 million of the January 2024 Senior Secured Notes. The January 2024 Senior Secured Notes bear interest at 14.0% per annum payable semi-annually. Interest will be payable on July 25 and January 25 of each year, commencing July 25, 2021. The January 2024 Senior Secured Notes have a three-year term maturing on January 25, 2024.

The effective interest rate of January 2024 Senior Secured Notes is 14.49%.

The January 2024 Senior Secured Notes were issued pursuant to an indenture, dated January 25, 2021, between the Company, the Subsidiary Guarantors and Citicorp International Limited, as trustee and collateral agent (the “January 2024 Indenture”). The Company’s obligations under the January 2024 Indenture and the January 2024 Senior Secured Notes have been guaranteed by the Subsidiary Guarantors and will be guaranteed by such other future subsidiaries of the Company as is set forth in and in accordance with the terms of the January 2024 Indenture. The Company’s obligations under the January 2024 Indenture and the January 2024 Senior Secured Notes are secured by a pledge of the capital stock of the Company’s wholly-owned subsidiaries, Xinyuan Real Estate, Ltd., Xinyuan International Property Investment Co., Ltd., Victory Good Development Limited, South Glory International Limited and Elite Quest Holdings Ltd.

At any time prior to January 25, 2024, the Company may at its option redeem the January 2024 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the January 2024 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any January 2024 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such January 2024 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such January 2024 Senior Secured Note, plus all required remaining scheduled interest payments due on such January 2024 Senior Secured Note through the maturity date of the January 2024 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the January 2024 Indenture) plus 100 basis points, over (B) the principal amount of such January 2024 Senior Secured Note on such redemption date.

At any time prior to January 25, 2024, the Company may redeem up to 35% of the aggregate principal amount of the January 2024 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 114% of the principal amount of the January 2024 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the January 2024 Senior Secured Notes issued on January 25, 2021, remains outstanding after each such redemption.

The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the January 2024 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the January 2024 Senior Secured Notes.

The January 2024 Indenture, contains certain covenants that, among others, restrict the Company’s ability and the ability of the Company’s Restricted Subsidiaries (as defined in the January 2024 Indenture) to incur additional debt or to issue preferred stock, to make certain payments or investments, to pay dividends or purchase or redeem capital stock, to sell assets (including limitations on the use of proceeds of asset sales), to grant liens on the collateral securing the January 2024 Senior Secured Notes or other assets, to make certain other payments or to engage in transactions with affiliates and holders of more than 10% of the Company’s Common Shares, subject to certain qualifications and exceptions and satisfaction, in certain circumstances of specified conditions, such as a Fixed Charge Coverage Ratio (as defined in the January 2024 Indenture) of 2.0 to 1.0.

From January 1, 2021 to December 31, 2021, the Company redeemed the January 2024 Senior Secured Notes for a total principal amount of US$5.5 million.

From January 1, 2022 to December 31, 2022, the Company redeemed the January 2024 Senior Secured Notes for a total principal amount of US$4.82 million.

In March 2023, the Company redeemed the January 2024 Senior Secured Notes for a total principal amount of US$3.9 million.

October 2023 Senior Secured Notes

On October 15, 2021, eligible holders of certain notes issued by the Company in 2019 in the aggregate principal amount of US$207.68 million exchanged their notes and the Company delivered the October 2023 Senior Secured Notes in the aggregate principal amount of US$205.4 million due on October 15, 2023 and US$19.1 million in cash consideration in full satisfaction of the exchange consideration to those eligible holders. The October 2023 Senior Secured Notes bear interest at 14.2% per annum payable semi-annually. Interest will be payable on April 15 and October 15 of each year, commencing April 15, 2022. The October 2023 Senior Secured Notes have a two-year term maturing on October 15, 2023.

The effective interest rate of October 2023 Senior Secured Notes is 16.65%.

The October 2023 Senior Secured Notes were issued pursuant to an indenture, dated October 15, 2021, between the Company, the Subsidiary Guarantors and Citicorp International Limited, as trustee and collateral agent (the “October 2023 Indenture”). The Company’s obligations under the October 2023 Indenture and the October 2023 Senior Secured Notes have been guaranteed by the Subsidiary Guarantors and will be guaranteed by such other future subsidiaries of the Company as is set forth in and in accordance with the terms of the October 2023 Indenture. The Company’s obligations under the October 2023 Indenture and the October 2023 Senior Secured Notes are secured by a pledge of the capital stock of the Company’s wholly-owned subsidiaries, Xinyuan Real Estate, Ltd., Xinyuan International Property Investment Co., Ltd., Victory Good Development Limited, South Glory International Limited and Elite Quest Holdings Ltd.

At any time prior to October 15, 2023, the Company may at its option redeem the October 2023 Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the October 2023 Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. “Applicable Premium” means with respect to any October 2023 Senior Secured Note at any redemption date, the greater of (i) 1.00% of the principal amount of such October 2023 Senior Secured Note and (ii) the excess of (A) the present value at such redemption date of the principal amount of such October 2023 Senior Secured Note, plus all required remaining scheduled interest payments due on such October 2023 Senior Secured Note through the maturity date of the October 2023 Senior Secured Notes (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the October 2023 Indenture) plus 100 basis points, over (B) the principal amount of such October 2023 Senior Secured Note on such redemption date.

At any time prior to October 15, 2023, the Company may redeem up to 35% of the aggregate principal amount of the October 2023 Senior Secured Notes with the net cash proceeds of one or more sales of our common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 114.5% of the principal amount of the October 2023 Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the October 2023 Senior Secured Notes issued on October 15, 2021, remains outstanding after each such redemption.

The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the October 2023 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the October 2023 Senior Secured Notes.

The October 2023 Indenture contains certain covenants that, among others, restrict the Company’s ability and the ability of the Company’s Restricted Subsidiaries (as defined in the October 2023 Indenture) to incur additional debt or to issue preferred stock, to make certain payments or investments, to pay dividends or purchase or redeem capital stock, to sell assets (including limitations on the use of proceeds of asset sales), to grant liens on the collateral securing the October 2023 Senior Secured Notes or other assets, to make certain other payments or to engage in transactions with affiliates and holders of more than 10% of the Company’s Common Shares, subject to certain qualifications and exceptions and satisfaction, in certain circumstances of specified conditions, such as a Fixed Charge Coverage Ratio (as defined in the October 2023 Indenture) of 2.0 to 1.0.

From January 1, 2021 to December 31, 2021, the Company redeemed the October 2023 Senior Secured Notes for a total principal amount of US$66.1 million.

From January 1, 2022 to December 31, 2022, the Company redeemed the October 2023 Senior Secured Notes for a total principal amount of US$2.5 million.

September 2027 Senior Secured Notes

The September 2027 Senior Secured Notes were issued pursuant to an indenture, dated August 18, 2023, between the Company, the Subsidiary Guarantors and Citicorp International Limited, as trustee and collateral agent (the “September 2027 Indenture”). The Company’s obligations under the September 2027 Indenture and the September 2027 Senior Secured Notes have been guaranteed by the Subsidiary Guarantors and will be guaranteed by such other future subsidiaries of the Company as is set forth in and in accordance with the terms of the September 2027 Indenture. The Company’s obligations under the September 2027 Indenture and the September 2027 Senior Secured Notes are secured by a pledge of the capital stock of the Company’s wholly-owned subsidiaries, Xinyuan Real Estate, Ltd., Xinyuan International Property Investment Co., Ltd., Victory Good Development Limited, South Glory International Limited and Elite Quest Holdings Ltd.

At any time prior to September 30, 2027, the Company may at its option redeem the September 2027 Senior Secured Notes, in whole or in part, at a redemption price equal to or no less than 100.0% of the principal amount of the September 2027 Senior Secured Notes plus the accrued and unpaid interest, if any, to (but not including) the redemption date.

Unless previously redeemed in full prior to each Mandatory Redemption Date (as defined below), the September 2027 Senior Secured Notes shall be redeemed by the Company in accordance with the redemption schedule described below, at the redemption price of 100% of the outstanding principal amount of the September 2027 Senior Secured Notes to be redeemed, plus accrued and unpaid interest on such September 2027 Senior Secured Notes up to but excluding the relevant Mandatory Redemption Date:

Mandatory Redemption Date	Required Redemption Portion
September 30, 2025	5% of the then aggregate outstanding principal amount of the September 2027 Senior Secured Notes
September 30, 2026	5% of the then aggregate outstanding principal amount of the September 2027 Senior Secured Notes

The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the September 2027 Senior Secured Notes under the requirements of ASC 815. The embedded redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the September 2027 Senior Secured Notes.

The September 2027 Indenture, contains certain covenants that, among others, restrict the Company’s ability and the ability of the Company’s Restricted Subsidiaries (as defined in the September 2027 Indenture) to incur additional debt or to issue preferred stock, to make certain payments or investments, to pay dividends or purchase or redeem capital stock, to sell assets (including limitations on the use of proceeds of asset sales), to grant liens on the collateral securing the September 2027 Senior Secured Notes or other assets, to make certain other payments or to engage in transactions with affiliates and holders of more than 10% of the Company’s Common Shares, subject to certain qualifications and exceptions and satisfaction, in certain circumstances of specified conditions, such as a Fixed Charge Coverage Ratio (as defined in the September 2027 Indenture) of 2.0 to 1.0.

From January 1, 2023 to December 31, 2023, the Company redeemed the September 2027 Senior Secured Notes for a total principal amount of US$3,450.0 million.

Onshore Corporate Bonds

On April 1, 2019, Xinyuan (China) Real Estate, Ltd. issued another new tranche of the onshore corporate bonds with an aggregate principal amount of RMB980 million (US$146 million) due on April 1, 2024 (the “2019 First Tranche Bonds”) at a coupon rate of 8.4% per annum payable annually. Interest is payable on April 1 of each year, commencing April 1, 2020.

From April 1, 2019 to June 21, 2019, the Company redeemed the 2019 First Tranche Bonds for a total principal amount of RMB637 million (US$91 million). The Company recognized loss on extinguishment of debt amounting to US$3,977,493 in 2019, consisting of both the debt redemption price amounting to US$3,494,668 and unamortized deferred debt issuance costs amounting to US$482,825.

From February 15, 2020 to November 30, 2020, the Company redeemed the remaining amount of the 2019 First Tranche Bonds for a total principal amount of RMB343 million (US$49 million). The Company recognized loss on extinguishment of debt amounting to US$423,011, consisting of both the debt redemption price amounting to US$72,640 and unamortized deferred debt issuance costs amounting to US$350,371.

On November 12, 2020, Xinyuan (China) Real Estate, Ltd. issued a new tranche of the onshore corporate bonds with an aggregate principal amount of RMB900 million (US$130 million) due on November 13, 2025 (the “2020 Tranche”) at a coupon rate of 8.35% per annum payable annually. Interest is payable on November 13 of each year, commencing November 13, 2020.

On November 30,2020, the Company redeemed the 2020 Tranche for a total principal amount of RMB646 million (US$94 million). The Company recognized loss on extinguishment of debt amounting to US$261,320, consisting of both the debt redemption price amounting to US$492 and unamortized deferred debt issuance costs amounting to US$260,828.

From January 1, 2021 to December 31, 2021, the Company redeemed the 2020 Tranche for a total principal amount of RMB77.1 million (US$12 million).

From January 1, 2022 to December 31, 2023, the Company did not made redemption for the 2020 Tranche.

On January 7, 2021, Xinyuan (China) Real Estate, Ltd. issued a new tranche of the onshore corporate bonds with an aggregate principal amount of RMB500 million (US$78 million) due on January 7, 2026 (the “2021 Tranche”) at a coupon rate of 8.35% per annum payable annually. Interest is payable on January 7 of each year, commencing January 7, 2021.

From January 1, 2021 to December 31, 2021, the Company redeemed the 2021 Tranche for a total principal amount of RMB402.2 million (US$62 million).

From January 1, 2022 to December 31, 2023, the Company did not make redemption for the 2021 Tranche.

The net gain on debt extinguishment arose from debts restructuring which resulted in extinguishment accounting amounting to U$nil, U$9,620,914 and U$169,932,886 for 2021, 2022 and 2023 respectively.

Gain on modification of debt amounting to U$26,372,965 in financial year 2023 arose from modification of debt terms.

Other receivables (Tables)

12 Months Ended

Dec. 31, 2023

Other receivables

Schedule of Other Receivables


	December 31,	December 31,
	2022	2023
	US$	US$
Henan Derun Real Estate Co. Ltd (“Henan Derun”)	142,448,841	140,261,069
Zhengzhou Yongzhi Jianxin Meiyu Private Equity Fund (“Zhengzhou Yongzhi”)	22,973,322	22,590,255
Due from contractors	17,253,823	23,571,115
Due from Zijin Royal Palace	45,163,449	44,025,880
Others	155,673,690	148,207,979
Total	383,513,125	378,656,298

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Accounts payable and notes payable	$ 1,023,913,738	$ 950,184,053
Other payables and accrued liabilities	659,501,859	489,622,793
Payroll and welfare payables	$ 14,191,467	$ 16,431,804
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	113,671,841	108,029,257
Common stock, shares outstanding	113,671,841	108,029,257
Consolidated VIEs without recourse to the primary beneficiary
Accounts payable and notes payable	$ 13,215	$ 13,439
Other payables and accrued liabilities	3,831,970	3,235,911
Payroll and welfare payables	$ 319,565	$ 1,132,120

Background information of business and organization

12 Months Ended

Dec. 31, 2023

Background information of business and organization

Background information of business and organization

1. Background information of business and organization

Organization and Description of Business

Xinyuan Real Estate Co., Ltd. (the “Company”) and its subsidiaries (collectively the “Group”) are principally engaged in residential real estate development and the provision of property management services. The Group’s operations are conducted mainly in the People’s Republic of China (the “PRC”). In 2012, the Group expanded its business into the U.S. residential real estate market.

As of December 31, 2023, principal subsidiaries of the Company and its consolidated variable interest entities included the following entities:


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Subsidiary companies:
Xinyuan International Property Investment Co., Ltd.	Cayman Islands October 6, 2011	US$	500,000	100	%	Investment holding company

Xinyuan International (HK) Property Investment Co., Ltd.	Hong Kong October 26, 2011	HK$	3,000,000	100	%	Investment holding company

XIN Development Group International Inc.	United States November 10, 2011	US$	—	100	%	Investment holding company

Xinyuan Real Estate, Ltd.	Cayman Islands January 27, 2006	US$	50,000,000	100	%	Investment holding company

XIN Development Management East, LLC	United States August 28, 2012	US$	1,000	100	%	Property management services

XIN NY Holding, LLC	United States August 29, 2012	US$	1,000	100	%	Investment holding company

421 Kent Development, LLC	United States August 29, 2012	US$	1,000	100	%	Real estate development

Xinyuan Sailing Co., Ltd.	Hong Kong June 21, 2013	HK$	3,000,000	100	%	Investment holding company

AWAN Plasma Sdn Bhd	Malaysia April 16, 2007	MYR	33,577,000	100	%	Real estate development

XIN Eco Marine Group Properties Sdn Bhd	Malaysia July 9, 2014	MYR	33,217,000	100	%	Investment holding company

Zhengzhou Jiasheng Real Estate Co., Ltd.	PRC December 2, 2013	US$	60,000,000	100	%	Real estate development

Xinyuan (China) Real Estate, Ltd. (“Xinyuan China”)	PRC April 10, 2006	US$	307,000,000	100	%	Investment holding company

Henan Xinyuan Real Estate Co., Ltd. (“Henan Xinyuan”)	PRC May 19, 1997	RMB	200,000,000	100	%	Real estate development

Qingdao Xinyuan Xiangrui Real Estate Co., Ltd.	PRC February 9, 2006	RMB	10,000,000	100	%	Real estate development

Shandong Xinyuan Real Estate Co., Ltd.	PRC June 2, 2006	RMB	300,000,000	100	%	Real estate development

Xinyuan Property Management Service (Cayman) Ltd.	Cayman Islands December 13, 2018	HKD	50,000	52.86	%	Investment holding company

Xinyuan Property Management Service (BVI) Ltd	British Virgin Islands January 2, 2019	USD	—	52.86	%	Investment holding company

Xinyuan Property Management Service (HK) Limited	HK January 8, 2019	HKD	1	52.86	%	Investment holding company

Xinyuan Science and Technology Service Group Co., Ltd.	PRC December 28, 1998	RMB	50,000,000	52.86	%	Property management services

Mingyuan Landscape Engineering Co., Ltd.	PRC February 17, 2004	RMB	50,000,000	100	%	Landscaping engineering and management

Henan Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC December 29, 2011	RMB	20,000,000	100	%	Real estate development

Suzhou Xinyuan Real Estate Development Co., Ltd.	PRC November 24, 2006	RMB	200,000,000	100	%	Real estate development

Anhui Xinyuan Real Estate Co., Ltd.	PRC December 7, 2006	RMB	50,000,000	100	%	Real estate development

Kunshan Xinyuan Real Estate Co., Ltd.	PRC January 31, 2008	RMB	200,000,000	100	%	Real estate development

Xinyuan Real Estate (Chengdu) Co., Ltd.	PRC June 12, 2007	RMB	220,000,000	100	%	Real estate development

Xuzhou Xinyuan Real Estate Co., Ltd.	PRC November 9, 2009	RMB	200,000,000	100	%	Real estate development

Henan Xinyuan Jiye Real Estate Co., Ltd.	PRC November 15, 2009	RMB	50,000,000	100	%	Real estate development

Beijing Xinyuan Wanzhong Real Estate Co., Ltd. (“Beijing Wanzhong”)	PRC March 4, 2008	RMB	900,000,000	100	%	Real estate development


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Xinyuan Renju (Beijing) Asset Management Co., Ltd.	PRC January 16, 2009	RMB	30,000,000	100	%	Management consulting service

Beijing Xinyuan Priority Real Estate Consulting Co., Ltd.	PRC March 8, 2012	RMB	30,000,000	100	%	Real estate consulting services

Henan Xinyuan Priority Commercial Management Co., Ltd.	PRC August 10, 2012	RMB	2,000,000	100	%	Leasing management services

Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd. (“Suzhou Wanzhuo”) (Note 18(a))	PRC September 20, 2012	RMB	200,000,000	20	%	Real estate development

Jiangsu Jiajing Real Estate Co., Ltd.	PRC March 28, 2005	RMB	150,000,000	100	%	Real estate development

Xingyang Xinyuan Real Estate Co., Ltd.	PRC July 25, 2013	RMB	200,000,000	100	%	Real estate development

Jinan Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC December 4, 2013	RMB	300,000,000	100	%	Real estate development

Sanya Beida Science and Technology Park Industrial Development Co., Ltd.	PRC January 10, 2014	RMB	200,000,000	100	%	Real estate development

Chengdu Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC February 21, 2014	RMB	50,000,000	100	%	Real estate development

Tianjin Xinyuan Real Estate Co., Ltd.	PRC September 17, 2014	RMB	100,000,000	100	%	Real estate development

Xi’an Yinghuai Square Commerce Management Co., Ltd.	PRC November 25, 2014	RMB	3,000,000	100	%	Retail store

Subsidiary companies:
Changsha Xinyuan Wanzhuo Real Estate Co., Ltd.	PRC April 3, 2014	RMB	100,000,000	100	%	Real estate development

Shanghai Junxin Real Estate Co., Ltd.	PRC January 16, 2014	RMB	5,000,000	100	%	Real estate development

Beijing Yinghuai Commerce and Trade Co., Ltd.	PRC January 5, 2015	RMB	30,000,000	100	%	Retail store

Beijing Xinhe Investment Development Co., Ltd.	PRC May 5, 2015	RMB	5,000,000	100	%	Investment holding company

Henan Xinyuan Guangsheng Real Estate Co., Ltd.	PRC July 27, 2015	RMB	200,000,000	100	%	Real estate development

Shandong Xinyuan Renju Real Estate Co., Ltd.	PRC November 19, 2011	RMB	50,000,000	100	%	Real estate development

Shaanxi Zhongmao Economy Development Co., Ltd.	PRC June 22, 1998	RMB	22,500,000	65.98	%	Real estate development

421 Kent Holding Co, Ltd.	United States May 2, 2014	US$	1,000	100	%	Investment holding company

Hudson 888 Owner LLC	United States October 22, 2015	US$	1,000	100	%	Real estate development

XIN Manhattan Holding LLC	United States December 9, 2015	US$	1,000	100	%	Investment holding company

Hudson 888 Holding LLC	United States December 9, 2015	US$	1,000	100	%	Investment holding company

Shenzhen Xinchuang Investment Consulting Co., Ltd.	PRC January 20, 2016	RMB	10,000,000	100	%	Investment


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Subsidiary companies:
Henan Xinyuan Quansheng Real Estate Co., Ltd.	PRC January 14, 2015	RMB	40,000,000	100	%	Real estate development

Zhengzhou Shengdao Real Estate Co., Ltd.	PRC October 14, 2013	RMB	20,000,000	100	%	Real estate development

Henan Xinyuan Shunsheng Real Estate Co., Ltd.	PRC January 13, 2016	RMB	30,000,000	100	%	Real estate development

Hunan Erli Real Estate Co., Ltd.	PRC January 4, 2008	RMB	50,000,000	100	%	Real estate development

XIN Queens Holding LLC	United States July 6, 2016	US$	1,000	100	%	Investment holding company

Queens Theatre Holdco LLC	United States July 6, 2016	US$	1,000	100	%	Investment holding company

Queens Theatre Owner LLC	United States July 6, 2016	US$	1,000	100	%	Real estate development

Zhengzhou Xinnan Real Estate Co., Ltd.	PRC January 21, 2016	RMB	50,000,000	100	%	Real estate development

Xinyan Investment Management Co., Limited.	PRC April 8, 2016	RMB	100,000,000	90	%	Investment

Hunan Xintian Real Estate Co., Ltd.	PRC September 28, 2009	RMB	20,000,000	100	%	Real estate development

Zhengzhou Hangmei Technology Development Co., Ltd. (1)	PRC November 25, 2014	RMB	50,000,000	100	%	Real estate development

Zhengzhou Hangmei Zhengxing Technology Co., Ltd. (1)	PRC March 28, 2016	RMB	50,000,000	100	%	Real estate consulting services

Xi’an Dingrun Real Estate Co., Ltd.	PRC June 1, 2011	RMB	20,000,000	100	%	Real estate development

Zhengzhou Kangshengboda Real Estate Co., Ltd.	PRC July 29, 2016	RMB	50,000,000	100	%	Real estate development

Zhuhai Prince Real Estate Co., Ltd.	PRC September 13, 1990	RMB	307,000,000	100	%	Real estate development

Henan Renxin Real Estate Co., Ltd. (“Henan Renxin”)	PRC July 11, 2008	RMB	200,000,000	51	%	Real estate development

Xinchuang Technology Co., Ltd. (“Xinchuang Technology”)	PRC May 2, 2017	RMB	100,000,000	100	%	Management consulting services

Hangzhou Huiyuan Investment Management Partnership Enterprise. (Limited partnership)	PRC May 23, 2017	RMB	5,000,000	100	%	Investment holding company

Guangdong Xinyuan Real Estate Co., Ltd.	PRC October 18, 2017	RMB	100,000,000	100	%	Real estate development

Taicang Pengchi Real Estate Co., Limited. (“Taicang Pengchi”) (Note 18(a))	PRC June 16, 2017	RMB	200,000,000	17	%	Real estate development

Khorgos XinYan Enterprise Management Consulting Co., Ltd.	PRC December 4, 2017	RMB	5,000,000	100	%	Management consulting services

Jinan Xinyuan Quansheng Real Estate Co., Ltd.	PRC May 25, 2018	RMB	50,000,000	100	%	Real estate development


				Percentage of
	Registered Place			Equity
	and Date of	Registered		Attributable		Principal
Company Name	Incorporation	Capital		to the Group		Activities
Subsidiary companies:
Suzhou Yuxi Real Estate Co., Limited.	PRC March 5, 2018	RMB	100,000,000	20	%	Real estate development

Xinchuang Sailing (Dalian) Healthy Technology Industrial Investment Co., Ltd.	PRC June 5, 2018	RMB	600,000,000	100	%	Real estate development

Dalian Xinyi Renju Real Estate Co., Ltd.	PRC June 26, 2018	RMB	100,000,000	100	%	Real estate development

Beijing Xinyuan Huicheng Technology Development Co., Ltd.	PRC January 26, 2018	RMB	100,000,000	100	%	Technical services

Suzhou Yefang Real Estate Co., Limited. (“Suzhou Yefang”) (Note 18(b))	PRC April 14, 2017	RMB	100,000,000	20	%	Real estate development

Chengdu Xinyuan Renju Enterprise Management Co., Ltd. (“Chengdu Renju”)	PRC October 26, 2017	RMB	50,000,000	100	%	Real estate development

Chengdu Guohongteng Real Estate Co., Ltd.	PRC July 16, 2010	RMB	1,673,179,200	100	%	Real estate development

Qingdao Keda Real Estate Co., Ltd. (“Qingdao Keda”)	PRC September 20, 2010	RMB	50,000,000	100	%	Real estate development

Wuhan Yinghexin Real Estate Co., Ltd. (“Wuhan Yinghexin”)	PRC January 15, 2014	RMB	100,000,000	100	%	Real estate development

Henan Xinyuan Property Management Co., Ltd.	PRC December 1, 2016	RMB	10,000,000	100	%	Property management services

Subsidiary companies:

Zhuhai Xinyuan Real Estate Co., Ltd.	PRC December 31, 2018	RMB	100,000,000	100	%	Real estate development

Jinan Renju Building Material Co., Ltd.	PRC January 2, 2019	RMB	50,000,000	100	%	Sales of construction material

Dalian Xinyi Yaju Real Estate Co., Ltd.	PRC January 16, 2019	RMB	100,000,000	100	%	Real estate development

Guangdong Xinchuang Kechuang Zhigu Development Co., Ltd.	PRC February 27,2019	RMB	100,000,000	100	%	Real estate development

Jiangxi Xinyuan Heju Enterprise Management Consulting Service Co., Ltd.	PRC April 2,2019	RMB	10,000,000	100	%	Management consulting services

Beijing I-Journey Science and Technology Development Co., Ltd.(“I-Journey”)	PRC October 20,2015	RMB	40,000,000	93	%	Development and sales of robots

Beijing Ruizhuo Xichuang Technology Development Co., Ltd.(“Xichuang”)	PRC July 16,2015	RMB	30,000,000	93	%	Real estate brokerage

Beijing Ruizhuo Xitou Development Co., Ltd. (“ Xitou”)	PRC July 16,2015	RMB	30,000,000	85	%	Internet platform for real estate property financing

Beijing Future Xinzhihui Technology Development Center (Limited Partnership) (“ Xinzhihui”) (Note 9(2))	PRC December 16,2016	RMB	30,000,000	90.67	%	Investment holding company

Beijing Future Xinhujin Technology Development Center (Limited Partnership) (“Xinhujin”) (Note 9(2))	PRC December 30,2016	RMB	20,000,000	89.5	%	Investment holding company

Beijing Future Xinruifeng Technology Development Center (Limited Partnership) (“Xinruifeng”) (Note 9(2))	PRC February 23,2017	RMB	20,000,000	77.5	%	Investment holding company

Beijing Ruihao Rongtong Real Estate Co., Ltd. (“Ruihao Rongtong”)	PRC June 15, 2006	RMB	250,000,000	100	%	Real estate development

Zhengzhou Xinhe Real Estate Co., Ltd	PRC January 8,2020	RMB	50,000,000	80	%	Real estate development

Zhengzhou Xinying Real Estate Co., Ltd.	PRC May 19,2020	RMB	30,000,000	100	%	Real estate development

Zhengzhou Xinyuan Xinsheng Business Management Co. Ltd.	PRC November 2,2020	RMB	1,000,000	100	%	Real estate development

Dalian Xinsheng Industrial Co., Ltd.	PRC December 16,2020	RMB	20,000,000	100	%	Leasing management services

Guoxin Chuangxiang (Tianjin) Enterprise Management Consulting Partnership (Limited Partnership)	PRC January 2,2020	RMB	15,000,000	95.22	%	Management consulting service

Guoxin Chuangzhi (Tianjin) Enterprise Management Consulting Partnership (Limited Partnership)	PRC June 23,2020	RMB	135,000,000	94.41	%	Management consulting service

Chongqing Heavy Duty Vehicle Group Hong Property LLC Wulong Branch	PRC September 26, 2021	RMB	—	100	%	Property management services

Henan Rongyao Catering Service Co., Ltd.	PRC September 23, 2021	RMB	1,000,000	51	%	Catering services

Henan Xinzhixiang Electronic Technology Co., Ltd.	PRC May 20, 2020	RMB	5,000,000	100	%	Electronic commerce

Henan Xinyuan Property Service Co., Ltd.. Xincai Branch	PRC November 19, 2021	RMB	—	—		Property management services

Zhengzhou Shengxin Landscape Engineering Co., Ltd.	PRC November 10, 2021	RMB	10,000,000	51	%	Property management services

Henan Xinyuan Property Service Co., Ltd.. Runan Branch	PRC March 18, 2021	RMB	—	—		Property management services

Guangzhou Yuesheng Commercial Service Co., Ltd.. Zhengzhou Branch	PRC March 30, 2021	RMB	—	—		Management consulting services

Henan Kai Dao real Estate Brokerage Co., Ltd.	PRC September 30, 2021	RMB	10,000,000	100	%	Property management services

Shanghai Xinqiao Trading Co., Ltd. (3)	PRC March 17, 2021	RMB	30,000,000	100	%	Property management services

Hainan Xinyuan Heju Enterprise Management Consulting Service Co., Ltd. (4)	PRC September 27, 2020	RMB	10,000,000	100	%	Management consulting services

Guangzhou Xinyuan Commercial Management Co., Ltd.	PRC March 30, 2021	RMB	1,000,000	100	%	Retail store

Henan Xinyuan Hongsheng Commercial Management Co., Ltd.	PRC May 6, 2021	RMB	1,000,000	100	%	Retail store

Qingdao Huiju Zhihui City Industrial Development Co., Ltd. (2)	PRC June 7, 2016	RMB	2,000,000,000	100	%	Real estate development

Jiangsu Xinyuan Yaju Enterprise Management Co., Ltd.	PRC August 23, 2023	RMB	10,000,000	100	%	Management consulting services

VIE:
Beijing Yuzhouyun Technology Development Center (Limited partnership)) and its subsidiary (“Yuzhouyun”) (Note 2(a))	PRC March 2, 2018	RMB	18,388,300	51	%	Technical services

Beijing Ruizhuo Xihui Technology Development Centre Co., Ltd (Note 2(a))	PRC January 22,2017	RMB	10,000,000	1	%	Technical services

(1)	In 2022, the Company acquired the remaining equity interest of Zhengzhou Hangmei Technology Development Co., Ltd. and Zhengzhou Hangmei Zhengxing Technology Co., Ltd.

(2)	Qingdao Huiju Zhihui City Industrial Development Co., Ltd. has been consolidated in the Group’s financial statements since the year of 2022.

(3)	Liquidated on October 9, 2023.

(4)	Liquidated on June 20, 2023.

Long-term bank loans

12 Months Ended

Dec. 31, 2023

Long-term bank loans

Long-term bank loans

10. Long-term bank loans

Long-term bank loans as of December 31, 2022 and 2023 analyzed by final installment maturity dates consisted of the following:


	December 31,	December 31,
	2022	2023
	US$	US$
Loan from ICBC
Due December 22, 2023, at 4.75% per annum	11,927,462	—
Due December 22, 2023, at 4.75% per annum	5,921,257	—
Due December 22, 2023, at 4.75% per annum	5,911,323	—
	23,760,042	—

Loan from Bank of China
Due March 19, 2023 at 7.2375% per annum	14,358,326	14,118,909
Due October 31, 2022 at 4.75% per annum	6,446,889	6,339,390
	20,805,215	20,458,300

Loan from Ping An Bank Co., Ltd.
Due March 18, 2022, at 6.1575% per annum	18,522,241	18,213,393
	18,522,241	18,213,393

Loan from Bank of Minsheng
Due May 30, 2031 at 4.40% per annum	49,249,060	46,451,212
Due September 15, 2025 at 5.8% per annum (Due March 30, 2023 at 7.6% per annum before loan extension)	186,902,335	178,553,802
Due July 7, 2026 at 4.40% per annum (Due January 14, 2024 at 6.65% per annum before loan extension)	31,763,490	31,140,345
	267,914,884	256,145,359

Loan from Bank of Huaxia Co., Ltd
Due May 26, 2025 at 6.50% per annum (Due March 21, 2023 at 7.00% per annum before loan extension)	—	11,293,716
Due June 29, 2025 at 7.00% per annum (Due March 30, 2023 at 8.00% per annum before loan extension)	—	5,632,033
	—	16,925,749

Loan from Bank of Zhengzhou Co., Ltd
Due March 25, 2023, at 4.75% per annum	51,546,392	50,686,885
Due August 11, 2023 at 4.75% per annum	107,687,448	105,891,821
	159,233,840	156,578,706

Loan from Xiamen International Bank Co., Ltd
Due November 16, 2024, at 6.80% per annum (Due January 6, 2023, at 6.80% per annum before loan extension)	7,179,163	6,847,671
Due May 7, 2023, at 7.3% per annum	3,158,832	—
	10,337,995	6,847,671

Loan from Bank of Guangzhou Co., Ltd
Due September 3, 2024, at 9.00% per annum	89,999,679	87,889,366


Total	590,573,895	563,058,544
Less: current portion of long-term bank loans	(443,970,822)	(410,969,547)
Total long-term bank loans	146,603,073	152,088,997

As of December 31, 2023, the contractual maturities of these loans are as follows:


Year		Amount
		US$
2024		410,969,547
2025		98,711,369
2026		23,727,918
2027		5,788,753
2028 and thereafter		23,860,957
Less: current portion of long-term bank loans		(410,969,547)
Total: long-term bank loans		152,088,997

As of December 31, 2023, US$563,058,544 of the Group’s long-term bank loans were denominated in RMB and were mainly secured by the Group’s real estate properties under development with net book value of US$235,545,667 (2022: US$223,105,450), land use rights with net book value of US$249,556,186 (2022: US$261,499,802), the Group’s real estate properties held for lease with net book value of US$115,419,606 (2022: US$119,586,312), and the property and equipment with net book value of US$8,996,093 (2022: US$9,148,641). As of December 31, 2023, no long-term bank loans were denominated in U.S. dollar. As of December 31, 2022, no long-term bank loans were denominated in U.S. dollar. The interest rates of these bank loans are adjustable based on the range of 93% to 189% of the PBOC prime rate. The weighted average interest rate on long-term bank loans as of December 31, 2023 was 6.06% (2022: 7.46%).

Other long-term debt - Maturities of Long-term Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Other Long-term debt
Less: current portion of other long-term debt	$ (854,814,983)	$ (1,209,149,107)
Total other long-term debt	476,033,481	$ 259,081,410
Other Long-Term Debt [Member]
Other Long-term debt
2024	854,814,983
2025	146,288,126
2026	97,654,153
2027	232,091,202
2028 and thereafter	0
Less: current portion of other long-term debt	(854,814,983)
Total other long-term debt	$ 476,033,481

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Condensed financial information of the Company - Condensed Balance Sheets (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 129,243,923	$ 283,131,542	$ 426,399,881
Short-term investments	5,422,264	11,992,929
Total current assets	4,493,212,025	4,889,207,126
TOTAL ASSETS	5,333,393,231	5,850,278,327	6,446,279,290
Current liabilities
PRC other tax payable	20,392,535	24,924,141
Other payables and accrued liabilities	659,501,859	489,622,793
Current portion of long-term bank loans and other debt	1,265,784,530	1,653,119,929
Amounts due to related parties	72,910,425	66,619,920
Payroll and welfare payables	14,191,467	16,431,804
Total current liabilities	4,146,503,396	4,792,960,096
Other long-term debt	476,033,481	259,081,410
Total liabilities	5,225,980,849	5,767,491,498
Shareholders' equity
Common shares, $0.0001 par value: Authorized500,000,000 shares, issued and outstanding 108,029,257 shares as of December 31, 2023 (2022: 107,757,721 shares)	17,554	16,415
Treasury shares	(116,793,448)	(116,061,577)
Additional paid-in capital	546,549,246	544,954,556
Retained earnings	(616,742,846)	(656,638,114)
Total Xinyuan Real Estate Co., Ltd. shareholders' equity/(deficit)	(33,728,814)	(69,887,101)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 5,333,393,231	$ 5,850,278,327
Common Stock:
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	113,671,841	108,029,257
Common stock, shares outstanding	113,671,841	108,029,257
Nonrelated Party [Member]
Current assets
Other receivables	$ 378,656,298	$ 383,513,125
Related Party [Member]
Current liabilities
Amounts due to related parties	72,910,425	66,619,920
Parent Company
Current assets
Cash and cash equivalents	344,215	2,794,414	$ 160,209	$ 2,463,042
Short-term investments	286,054	946,076
Total current assets	50,784,108	53,880,204
Investments in subsidiaries	985,740,913	1,008,221,487
TOTAL ASSETS	1,036,525,021	1,062,101,691
Current liabilities
PRC income tax payable	13,388	13,388
PRC other tax payable	902,190	902,190
Other payables and accrued liabilities	105,408,095	88,642,571
Current portion of long-term bank loans and other debt	392,972,209	721,386,784
Payroll and welfare payables	64,509	64,888
Total current liabilities	838,162,633	1,131,988,792
Other long-term debt	232,091,202	0
Total liabilities	1,070,253,835	1,131,988,792
Shareholders' equity
Common shares, $0.0001 par value: Authorized500,000,000 shares, issued and outstanding 108,029,257 shares as of December 31, 2023 (2022: 107,757,721 shares)	17,554	16,415
Treasury shares	(116,793,448)	(116,061,577)
Additional paid-in capital	546,549,246	544,954,556
Retained earnings	(463,502,166)	(498,796,495)
Total Xinyuan Real Estate Co., Ltd. shareholders' equity/(deficit)	(33,728,814)	(69,887,101)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,036,525,021	$ 1,062,101,691
Common Stock:
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	113,671,841	108,029,257
Common stock, shares outstanding	113,671,841	108,029,257
Parent Company \| Nonrelated Party [Member]
Current assets
Other receivables	$ 1,051,960	$ 1,037,835
Parent Company \| Subsidiaries
Current assets
Other receivables	49,101,879	49,101,879
Current liabilities
Amounts due to related parties	$ 338,802,242	$ 320,978,971

Property and equipment, net (Details)			12 Months Ended			37 Months Ended	107 Months Ended
Property and equipment, net (Details)	Sep. 15, 2021 payment	Jun. 15, 2020 payment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jul. 14, 2023 USD ($)	Sep. 15, 2021 USD ($)	Oct. 23, 2012
Property and equipment, net
Total			$ 66,600,161	$ 67,850,441
Accumulated depreciation			(41,056,802)	(39,019,330)
Property and equipment, net			25,543,359	28,831,111
Lease term		3 years
Depreciation expense			2,037,472	3,787,564	$ 4,839,442
Amortization expense			0
Number of quarterly lease payments \| payment		12
Quarterly lease payments, amount						$ 1,105,274
Accumulated depreciation expense			41,056,802	39,019,330	$ 39,853,550
Corporate aircraft
Property and equipment, net
Total			36,332,509	36,948,606
Vehicles
Property and equipment, net
Total			4,164,765	4,235,388
Furniture and fixtures
Property and equipment, net
Total			8,690,083	8,958,370
Office buildings
Property and equipment, net
Total			17,412,804	$ 17,708,077
Under finance lease
Property and equipment, net
Lease term								8 years
Number of quarterly lease payments \| payment	32
Quarterly lease payments, amount							$ 1,426,000
Deposit used as full and final payment			$ 6,700,000

Leases - Weighted-average remaining lease term (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases
Operating leases, weighted-average remaining lease term (Years)	1 year 9 months 14 days	2 years 10 days
Finance leases, weighted-average remaining lease term (Years)	0 years	0 years
Operating leases, weighted-average discount rate	6.48%	7.42%
Finance leases, weighted-average discount rate	0.00%	0.00%

Real estate properties held for lease, net (Tables)

12 Months Ended

Dec. 31, 2023

Real estate properties held for lease, net

Schedule of real estate properties held for lease, net


	December 31,	December 31,
	2022	2023
	US$	US$
Elementary schools	3,062,464	3,011,399
Basement parking	6,899,693	6,458,198
Kindergartens	4,174,550	4,104,942
Parking facilities	74,803,844	55,336,381
Clubhouses	7,698,981	7,570,605
Shopping mall	258,828,780	267,753,895
Residential properties	73,295,345	49,585,754
Total costs	428,763,657	393,821,174
Accumulated depreciation	(55,295,790)	(71,269,173)
Real estate properties held for lease, net	373,467,867	322,552,001

Schedule of minimum future rental income on non-cancellable leases


Year		Amount
		US$
2024		19,800,349
2025		18,814,705
2026		16,486,897
2027		14,573,904
2028 and thereafter		117,928,803
Total		187,604,658