Chinese residential real estate developer Xinyuan Real Estate Co., Ltd. (xyre.com) (NYSE: XIN) debuted on the New York Stock Exchange with 17.5 million American Depositary Shares (ADS) priced at US$16.50 on December 12. Xinyuan shares went as high as $18 before closing at $16.80. The company raised US$245 million through the offering. For the nine months ended September 30, 2007, Xinyuan revenue was US$218.3 million with net income of US$36.0 million. Xinyuan Real Estate focuses on middle-income consumers in second-tier cities including Chengdu, Hefei, Jinan, Suzhou and Zhengzhou.