Chinese property developer Kaisa forecasts bigger H1 net loss on slower deliveries

Kaisa group

22/08/2024 24:18

Aug 22 (Reuters) - China-based property developer Kaisa
Group  1638.HK  said on Thursday it expects to post a bigger net
loss for the first half, hurt by a decrease in delivery of
properties and higher impairment provisions set aside for
projects.
    The company expects net loss ranging from 8.8 billion yuan
to 9.8 billion yuan ($1.37 billion) for the half year ended June
30. It posted a net loss of 6.6 billion yuan a year earlier. 

($1 = 7.1344 Chinese yuan renminbi)

 (Reporting by Roushni Nair in Bengaluru; Editing by Shilpi
Majumdar)
 ((Roushni.Nair@thomsonreuters.com;))