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    1638   KYG521321003

KAISA GROUP HOLDINGS LTD.

(1638)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 01/26
0.92 HKD   -2.13%
01/25Kaisa Vows to Resume Foshan City Project Development in China
MT
01/24Funds see promise in battered Chinese real estate dollar bonds
RE
01/23Local Chinese Government Orders Audit of Kaisa Assets
MT
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Indebted Chinese Developer Seeks Reprieve on Notes Due in Dec -- Update

11/24/2021 | 08:10pm EST

By P.R. Venkat

Kaisa Group said it is seeking bond holders' consent to extend the maturity of US$400 million of notes by another two years as part of efforts to improve its liquidity.

Under the plan, the property developer wants bond holders to exchange their existing Kaisa notes for new notes maturing on June 6, 2023.

"If the exchange Offer and consent solicitation are not successfully consummated, we may not be able to repay the existing notes upon maturity on December 7, 2021, and we may consider alternative debt restructuring exercise," Kaisa said Thursday.

The developer issued the senior notes in December 2020 with an annual coupon of 6.5%. Kaisa's new notes will will also bear the same interest and will be paid entirely in cash.

Many of China's property developers are facing severe liquidity issues as regulatory curbs on borrowing, coupled with slowing home sales, have heaped pressure on companies including conglomerate China Evergrande Group.

"Despite our efforts to reduce our interest-bearing debt in response to government regulations, the current sharp downturn in the financing environment has limited our funding sources to address the upcoming maturities," Kasia said.

Shares of Kaisa Group, one of the biggest borrowers in international bond markets, fell to an all-time low earlier this month after the company missed a payment on a wealth-management product and said it was facing "unprecedented pressure on its liquidity."

Late Wednesday, the company had said that it has made payment arrangements for 1.01 billion yuan (US$171.61 million) on wealth products issued by its group and associates.

Shares of the company, which have been in a trading halt on the Hong Kong Exchange since Nov. 5, will resume trading from Thursday.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

11-24-21 2009ET

All news about KAISA GROUP HOLDINGS LTD.
01/25Kaisa Vows to Resume Foshan City Project Development in China
MT
01/24Funds see promise in battered Chinese real estate dollar bonds
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01/23Local Chinese Government Orders Audit of Kaisa Assets
MT
01/21Chinese developer Shimao sells unit in a bid to reduce debt
RE
01/20Evergrande bondholder advisor says property firm has made contact
RE
01/20China property shares, bonds rally on hopes govt measures will aid liquidity
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01/19Chinese property developers face big debt maturities in 2022
RE
01/12Kaisa, Shimao, Greenland Named Among Delinquent Property Developers
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Analyst Recommendations on KAISA GROUP HOLDINGS LTD.
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Financials
Sales 2021 70 107 M 11 044 M 11 044 M
Net income 2021 6 484 M 1 021 M 1 021 M
Net Debt 2021 - - -
P/E ratio 2021 0,81x
Yield 2021 17,1%
Capitalization 5 239 M 829 M 825 M
Capi. / Sales 2021 0,07x
Capi. / Sales 2022 0,06x
Nbr of Employees 16 500
Free-Float 60,8%
Chart KAISA GROUP HOLDINGS LTD.
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Technical analysis trends KAISA GROUP HOLDINGS LTD.
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 0,75 CNY
Average target price 2,20 CNY
Spread / Average Target 194%
EPS Revisions
Managers and Directors
Fan Mai Vice Chairman, CEO & Co-Chief Risk Officer
Hao Weng Co-President
Hai Ming Li Co-President, COO & Executive Director
Hiu Kwan Kwok Co-President & Executive Director
Jian Xin Wu Co-Chief Financial Officer & Senior Vice President