HK Stock Market Move | KAISA GROUP (01638) soared by over 60% after a profit alert, expected to turn losses from last year into profits of no less than 5 billion yuan.

KAISA GROUP (01638) soared over 60%, reaching a 62.34% increase to HK$0.125 at the time of writing, with a trading volume of HK$2.684 million. On the news front, KAISA GROUP announced a profit, expecting to achieve a profit attributable to owners of the company of not less than RMB 50 billion for the year ending December 31, 2025, while the group recorded a net loss attributable to owners of the company of RMB 28.5 billion in 2024. The company stated that the turnaround from loss to profit in the current year was mainly due to the recognition of restructuring gains on overseas debts. Excluding the impact of overseas debt restructuring gains, the group expects to incur a net loss attributable to owners of the company for the current year, primarily due to falling revenue and increased provision for impairment of property projects influenced by the market.