Cash-strapped Kaisa Group is the latest.

It said late Tuesday (March 22) that it couldn't publish its earnings by March 31 as required.

The firm said lockdowns in Shenzhen meant audit work couldn't be completed.

That means its shares will be suspended from the start of April.

Bigger peer Evergrande had already said it wouldn't publish on time.

Other major developers including Shimao Group have also announced delays to audited results.

It all adds to fears over the health of the sector.

Evergrande has been struggling under more than $300 billion in liabilities, raising fears of a messy collapse.

Kaisa is restructuring its $12 billion in offshore debt after defaulting on some bonds last year.

Analysts at JP Morgan said they wouldn't be surprised to see more firms delay earnings.

Market-watchers at Nomura said changing auditors now would just raise more red flags.