SUN Mingyao, head of financing and CHENG Xinlan, head of marketing of real estate developer Kaisa Group, have resigned. They both joined the company in 2010 and went through the company’s first default from 2014 to 2015.
In 2021, Kaisa faced another debt crisis again as the real estate industry went into a new adjustment cycle. The restructuring plan has been progressing slowly. Kaisa has been suspended from trading on the HKSE since it failed to release its 2021 results on time.
