Kaisa Warns It Will Miss Earnings Deadline: Evergrande Update
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Kaisa Group Holdings Ltd. became the latest Chinese property developer to warn it will likely miss the deadline for reporting audited 2021 results due this month.
The developer said it had entered into “constructive dialogue” with creditors as it sought to find a solution to its financial difficulties, and blamed the delay of its audit process on China’s latest Covid-19 outbreak. It joins developers including China Evergrande Group, Sunac China Holdings Ltd. and Shimao Group Holdings Ltd. in delaying the publication of results.