While Kaisa did not disclose more details for the reason behind the suspension, it had said the previous day that it was facing "unprecedented pressure" on its finances.
Chinese state-run financial newspaper Securities Times reported Thursday that the company told the outlet about its liquidity issues, and admitted to missing a payment related to its wealth management products.
Kaisa did not immediately respond to a request for further comment. According to the report, Kaisa said that it was experiencing multiple headwinds, such as a challenging real estate market environment and the recent downgrading of its credit ratings by international agencies.
