Brief: Kaisa Group Posts HY Loss Attributable Of RMB6.97 Bln

Kaisa group

30/08/2023 14:35

Aug 30 (Reuters) - Kaisa Group Holdings Ltd  1638.HK :
    * NO INTERIM DIVIDEND DECLARED FOR SIX MONTHS
    * HY REVENUE RMB13.56 BILLION VERSUS RMB13.43 BILLION
    * HY LOSS ATTRIBUTABLE RMB 6.97BLN VERSUS LOSS OF RMB7.67
BILLION
    * CONTRACTED SALES INCREASED BY 16.1% TO RMB12,190 MILLION
FOR HY
    * GROUP IS ACTIVELY IN DISCUSSIONS WITH THE EXISTING LENDERS
ON
THE RENEWAL OF THE GROUP’S CERTAIN BORROWINGS
    * HAVE GIVEN CAREFUL CONSIDERATION TO THE FUTURE LIQUIDITY
AND 
PERFORMANCE OF THE GROUP
    * HAS BEEN ACTIVELY COMMUNICATING WITH CREDITORS TO RESOLVE
THE
PENDING LITIGATION CASES
    * WILL CONTINUE TO SEEK SUITABLE OPPORTUNITIES TO DISPOSE OF
ITS
EQUITY INTEREST IN CERTAIN PROJECT DEVELOPMENT COMPANIES
    * WILL CONTINUE TO SEEK SUITABLE OPPORTUNITIES TO DISPOSE OF
STAKE
IN CERTAIN PROJECT DEVELOPMENT COS TO GENERATE ADDITIONAL CASH
INFLOWS
    * ALREADY TAKEN MEASURES TO CONTROL ADMINISTRATIVE COSTS AND
CONTAIN UNNECESSARY CAPITAL EXPENDITURES
    * CONTINUE TO SEEK FOR NEW SOURCES OF FINANCING OR
ACCELERATE
ASSET  SALES ADDRESS UPCOMING FINANCIAL OBLIGATIONS
    * SHOULD CO BE UNABLE TO OPERATE AS GOING CONCERN,
ADJUSTMENTS
WOULD HAVE TO BE MADE TO WRITE DOWN CARRYING AMOUNTS OF ASSETS

Source text for Eikon:  ID:nHKS7wW2Dw 
Further company coverage:  1638.HK 

 ((Reuters.Briefs@thomsonreuters.com;))