KAISA GROUP issues profit warning, expects net loss in the first half to not exceed 11 billion yuan
KAISA GROUP expects a net loss of no more than 11 billion yuan in the first half of 2025, an increase from 9 billion yuan in the same period of 2024. The increase in losses is mainly due to a decrease in property deliveries and an increase in impairment provisions for property projects
According to the Zhitong Finance APP, KAISA GROUP (01638) announced that it expects the group to incur a net loss and a net loss attributable to shareholders of no more than RMB 11 billion in the first half of 2025, compared to a net loss of RMB 9 billion and a net loss attributable to shareholders of RMB 9.1 billion in the same period of 2024. The expected increase in net loss and net loss attributable to shareholders is mainly due to (i) a decrease in property deliveries leading to a reduction in recognized revenue; and (ii) an increase in impairment provisions for property projects
