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Sunac Found Kaisa Had Zero Net Asset Value During Talks

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Sunac China Holdings Ltd., the developer that last month dropped its acquisition of Kaisa Group Holdings Ltd., said it found the troubled developer’s net asset value was zero.

The zero value discovered during the acquisition process was Sunac’s judgement and different from Kaisa’s auditor PricewaterhouseCoopers LLP, Chairman Sun Hongbin said in Beijing on Thursday.