Struggling Chinese developers delay results as audits drag on


China’s real estate sector is in deep trouble, but it will be some time before investors can see the full extent of the damage.

Over the past week, six developers, including major international borrowers China Evergrande Group and Kaisa Group Holdings Ltd., said they could not release audited annual results by the March 31 deadline in Hong Kong, some blaming pandemic-related issues as one of the reasons for the delay. Others have recently spun off from accounting firms that previously audited their books.


Wj

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