Xinyuan Real Estate Co., Ltd. (NYSE:XIN) Q4 2019 Earnings Conference Call - Final Transcript
Apr 03, 2020 • 08:00 am ET
driven -- this was driven by higher GFA sales, which increased 7.1% to 1.14 million square meters from 1.07 million square meters in 2018.
In 2018, we also strengthened our infrastructure. In October, we listed our property management business on Hong Kong Exchange. In addition to monetizing that business and achieving our additional capital to elect retail investors to [Indecipherable].
Our confidence in our long-term outlook is reflected in our [Indecipherable]. We again declared a dividend in the fourth quarter of per ADS. The cash to them will be paid on May 8 to shareholders on record as on April 17, 2020. We have been paying dividend since 2011, and I'm very pleased that we were able to continue this in this year. We are proud that our operating team is excellent, and financial strength -- we're commonizing [Phonetic] our industry for the 15th straight year. We were ranked in the Top 100 Chinese Real Estate Developers. This is important because it reinforces our [Indecipherable] potential customers, investors and partners. Equally important is our -- claimed as top five Chinese real estate developers. Integrating technology to improve our propriety and the services is the key differentiator that may impact to drive good growth. So we are pleased that the industry recognize our this fiscal.
With that, please allow me to turn the call over to our CFO, Brian Chen. Brian, please go ahead.
Thank you, Mr. Zhang, and a good day, everyone. Thank you for joining us on the call today. I'm excited to be on this call. I have been on a recent trip to [Indecipherable] since early February. And New York has given me the opportunity to speak with many of our shareholders as well as [Indecipherable] investor. I want to say our shareholders for your support, your interest in our company and your constructive feedback and suggestions. Since we have been in public in 2007, we have been developing a holistic real estate ecosystem positioning to capitalize on invest returns. We are proud by the recognition we received for [Indecipherable] and are excited about our future.
As Mr. Zhang just mentioned, we finished 2019 with a solid results. This is not easy. Given our optimistic outlook, you should not be surprised that our level of development is still high and growing. At year-end, we actually had 1.9 million square meters of active projects and another 2.6 million square meter of project in planning. We are building the timeline with this project that will fuel our growth in 2020 and beyond.
So starting 2020 was challenging as all of you know. Our industry was already gapping [Phonetic] with a slowly economics and the regulatory efforts, and then of course the virus case. The Chinese government did an outstanding job in quickly bring it under tight control, saving hundreds of lives in China. We applaud and fully support that effort. Of course, that means we need to manage through a fixed lock down across our markets in China, like