NEW YORK, July 20, 2015 (GLOBE NEWSWIRE) -- Kirin International Holdings Inc., (OTCBB:KIRI) (the Company) a non-state-owned real estate development company focused on residential and commercial real estate development in "tier-three" cities in the People's Republic of China, today announced the Company is on track to meet its previously released earnings estimates. For the first half of 2015 ended June 30, 2015, after tax net income is expected to exceed US$2.0 million. For the twelve months of 2015 ending December 31, 2015, after tax net income is projected to reach US$10.0 million.
Jianfeng Guo, Chief Executive Officer, President and Director of the Company, stated, "Our business strategy is on target and our niche market remains strong. By focusing on growing "tier-three" cities, Kirin International Holdings continues to expand. Our management team is vigilantly monitoring real estate trends and growth cycles in the People's Republic of China in order to be ahead of any potential impact on our portfolio of properties as we continue to build out our Company. We anticipate a strong second half of 2015."
ABOUT KIRIN INTERNATIONAL HOLDING, INC.
Kirin is a Nevada corporation that operates through its wholly-owned subsidiary, Kirin China, a non-state-owned real estate development company focused on residential and commercial real estate development in "tier-three" cities in the People's Republic of China ("PRC"). Tier-three cities are provincial capital cities with ordinary economic development and prefecture cities with relatively strong economic development. Kirin China's projects are currently concentrated in Hebei Province of the PRC, primarily in the city of Xingtai, and nearby regions. Hebei Province is located in the North Region of the PRC. Kirin China intends to also focus on the Bohai Sea Surrounding Area, which comprises Beijing, Tianjin, Hebei Province, Liaoning Province and Shandong Province.
FORWARD-LOOKING STATEMENTS
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "intend, "believe," or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.