Kaisa Group warns of wider losses, debt restructuring advances

Kaisa Group Holdings (HKEX:1638) has issued a profit warning, anticipating a substantial net loss for the year ended December 31, 2024. The company projects a net loss, attributable to owners, of no more than RMB 30 billion, a significant increase from the RMB 19.9 billion loss recorded in 2023. The expected loss is attributed to lower property sales due to fewer deliveries, increased impairment provisions for property projects, and exchange losses.