shares of kaisa prosperity holdings ltd fell to their lowest intraday level since listing more than three years ago after the company warned of narrowed 2021 profit due to depressed home buying sentiment the property management unit owned by cashstrapped chinese luxury apartment developer kaisa group holdings ltd saw its hong konglisted shares drop by more than 25 in morning trading wednesday to as low as 539 hong kong dollars a share us069 kaisa prosperity warned late tuesday that it expected net profit to fall nearly 51 in 2021 vs 2020 to cny110 million the property company listed on the hong kong stock exchange in december 2018 raising hk328 million after pricing the stock at hk938 shares rose to a record of hk3880 on june 3 2020 before a decline that started accelerating in may 2021 on wednesday the companys market capitalization was around hk860 million down 33 since listing many developers including realestate giant china evergrande group and kaisa group have been hit hard by beijings curbs on borrowing and declining home sales shares of these companies have plummeted to historic lows and funding channels have almost shut down for many of these firms in december last year shenzhenheadquartered kaisa group said that it had failed to make several payments on dollar bonds and that it was in talks with creditors for a restructuring plan kaisa prosperity shares were last at hk558 down 25