On the evening of October 10, Kaisa Group released an announcement on the latest quarterly news.
Regarding business operations, Kaisa said that the Group has and will continue to focus on completing and delivering its property projects. It will continue to cooperate with brand partners (including state-owned enterprises) to develop its property projects, take measures to accelerate the sales of developing properties and completed properties, sell its assets when needed, and control administrative costs and capital expenditures.
Regarding the progress of the restructuring, Kaisa said that the company has been working with its financial adviser Warian Noki (China) Co., Ltd. to use to evaluate the capital structure of the company and evaluate the group's liquidity. Kaisa and its financial advisers will continue to communicate and have constructive communication and dialogue with overseas creditors (including but not limited to the holders of the US dollar priority notes issued by the company) to alleviate their liquidity issues and develop potential restructuring plans, committed to treating creditors fairly and protecting the interests of all stakeholders of the Group.
In addition to financial information, as of the date of this announcement, Kaisa Auditor is reviewing the group's performance for the year ended December 31, 2021. As several mainland cities implemented prevention measures for COVID-19 in August and September 2022, the review process has been further delayed. Kaisa said it will publish all financial data that has not been published for the year ended December 31, 2021 and the six months ended June 30, 2022 as soon as possible.
It is understood that Kaisa Group shares suspend trading on the Stock Exchange from 9 a.m. on April 1, 2022. The announcement shows that the company's shares will continue to be suspended until further notice.
Nanduwan Finance Society reporter Sun Yang
