Kaisa mystery lingers as Chinese builder delays financial reports again

Hong Kong

THE first property developer from China to default on dollar bonds said last week it needed more time to release earnings already delayed by about two years. It's the kind of treatment bond investors have gotten used to.

Kaisa Group Holdings outlined an expected timetable in July to release earnings in December, before resuming trading in its Hong Kong shares this month. Now the Shenzhen-based company's public relations firm says its goal is to release the four overdue financial reports before the Chinese New Year holiday at month's end, while management discusses the findings of the investigation into its debts.