Published:
Photo from Manson Yim on Unsplash
Kaisa Group's loss widens to $21.8b despite revenue growth
In FY22, the company posted a $14.37b loss.
Kaisa Group Holdings widened its loss to $21.8b (RMB19.7b) in FY23 from $14.37b (RMB13.01b) in FY22, despite recording higher revenue.
In FY23, the group’s revenue increased by 3% year-on-year (YoY) to $28.9b (RMB26.2b).
Meanwhile, its gross profit declined to $1.88b (RMB1.7b).
Contracted sales for the group, along with its joint ventures and associates, went down by 4.9% YoY to about $19.7b (RMB17.8b).
(RMB1 = $1.10)
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