(Yicai Global) Feb. 1 -- Caissa Tosun Development, a large Chinese travel agency that might be delisted due to two straight years of losses because of the Covid-19 pandemic, intends to launch its first 2023 outbound tourism products.

The organizer of packaged tours will arrange trips to Switzerland, Hungary, Singapore, Malaysia and another over ten countries this year, the Beijing-based firm said in a press release today. Bookings start on Feb. 6.

During the 2023 Spring Festival holiday, Caissa, which also provides airlines and railway operators with meals, said that its catering business recovered to over 70 percent of the level seen in 2019 as China eased its Covid-19 prevention and control policy.

Last year, the firm logged a net loss ranging from CNY800 million to CNY980 million (USD118.6 million to USD145.3 million) as the pandemic impacted its tourism and catering businesses, according to its earnings forecast released on Jan. 30. In 2021, the company recorded a net loss of CNY690 million.

Caissa received a delisting warning in May 2022 due to two straight years of losses, resulting in a daily trading limit of 5 percent. From 2020 to 2022, it lost CNY2.3 billion (USD341.1 million) because of the pandemic.

Caissa's stock price [SHE: 000796] hit the 5 percent limit-down to close at CNY5.45 (80 US cents).

Editor: Emmi Laine, Xiao Yi