diff --git a/changelog.d/10049-generator-continuation-preallocation.md b/changelog.d/10049-generator-continuation-preallocation.md
new file mode 100644
index 0000000000..43b4f8b865
--- /dev/null
+++ b/changelog.d/10049-generator-continuation-preallocation.md
@@ -0,0 +1,11 @@
+Fix captured local callbacks becoming undefined after `yield*` inside an async
+generator loop (#10048). The reused boxed-declaration path now initializes a
+missing cell before evaluating its initializer, without confusing an existing
+stack slot with an executed box allocation. Existing live cells are retained,
+preserving shared hoisted-var bindings. Module globals and preallocated cells
+remain on their existing paths; specialized async control cell types are kept.
+
+Adds codegen coverage for initialized and uninitialized boxed declaration
+copies, plus independent native parity fixtures for delegated loops, retained
+iteration callbacks, empty delegates, ordinary yield/await, recursion, TDZ,
+and shared hoisted-var bindings.
diff --git a/crates/perry-codegen/src/stmt/boxed_continuation_tests.rs b/crates/perry-codegen/src/stmt/boxed_continuation_tests.rs
new file mode 100644
index 0000000000..6a594b3120
--- /dev/null
+++ b/crates/perry-codegen/src/stmt/boxed_continuation_tests.rs
@@ -0,0 +1,127 @@
+//! #10048: a boxed Let's earlier emitted copy may never execute on this path.
+use perry_hir::types::Type;
+use perry_hir::{Expr, Function, Module, Param, Stmt};
+
+fn branch(initialized: bool) -> Vec<Stmt> {
+    vec![
+        Stmt::Let {
+            id: 101,
+            name: "callback".into(),
+            ty: Type::Any,
+            mutable: true,
+            init: initialized.then_some(Expr::Integer(40)),
+        },
+        Stmt::Let {
+            id: 102,
+            name: "writer".into(),
+            ty: Type::Any,
+            mutable: false,
+            init: Some(Expr::Closure {
+                func_id: 2,
+                params: Vec::new(),
+                return_type: Type::Any,
+                body: vec![Stmt::Expr(Expr::LocalSet(101, Box::new(Expr::Integer(42))))],
+                captures: vec![101],
+                mutable_captures: vec![101],
+                captures_this: false,
+                captures_new_target: false,
+                enclosing_class: None,
+                is_arrow: true,
+                is_async: false,
+                is_generator: false,
+                is_strict: true,
+            }),
+        },
+        Stmt::Return(Some(Expr::LocalGet(101))),
+    ]
+}
+
+fn assert_each_continuation_allocates(initialized: bool) {
+    let mut module = Module::new("boxed_continuation.ts");
+    module.functions.push(Function {
+        id: 1,
+        name: "resume".into(),
+        type_params: Vec::new(),
+        params: vec![Param {
+            id: 100,
+            name: "state".into(),
+            ty: Type::Any,
+            default: None,
+            decorators: Vec::new(),
+            is_rest: false,
+            arguments_object: None,
+        }],
+        return_type: Type::Any,
+        body: vec![Stmt::If {
+            condition: Expr::LocalGet(100),
+            then_branch: branch(initialized),
+            else_branch: Some(branch(initialized)),
+        }],
+        is_async: false,
+        is_generator: false,
+        is_strict: true,
+        is_exported: false,
+        captures: Vec::new(),
+        decorators: Vec::new(),
+        was_plain_async: false,
+        was_unrolled: false,
+    });
+    let ir = String::from_utf8(
+        crate::compile_module(&module, super::prealloc_module_global_tests::ir_opts()).unwrap(),
+    )
+    .unwrap();
+    let allocations: Vec<_> = ir
+        .lines()
+        .filter(|line| line.contains("call i64 @js_box_alloc_bits("))
+        .collect();
+    // Both mutually exclusive copies initialize the same lexical binding.
+    // The pre-fix ctx.locals check only emitted the first allocation.
+    assert_eq!(
+        allocations.len(),
+        2,
+        "each continuation must allocate:\n{ir}"
+    );
+    let seed = crate::nanbox::TAG_UNDEFINED_I64;
+    assert!(
+        ir.contains("boxed.reuse.allocate"),
+        "missing-cell allocation must be conditional"
+    );
+    let mut slots = Vec::new();
+    for allocation in allocations {
+        assert!(
+            allocation.contains(seed),
+            "wrong initial cell value: {allocation}"
+        );
+        let result = allocation.trim().split(" = ").next().unwrap();
+        let store = ir
+            .lines()
+            .find(|line| {
+                line.trim()
+                    .starts_with(&format!("store i64 {result}, ptr "))
+            })
+            .expect("each allocated box must initialize its pointer slot");
+        slots.push(store.trim().split(", ptr ").nth(1).unwrap());
+    }
+    assert_eq!(
+        slots[0], slots[1],
+        "continuations must share the lexical slot"
+    );
+    assert!(
+        ir.contains(&format!(
+            "store i64 {}, ptr {}",
+            crate::nanbox::TAG_UNDEFINED_I64,
+            slots[0]
+        )),
+        "bypassed declarations still need the entry sentinel"
+    );
+}
+
+#[test]
+fn initialized_boxed_let_materializes_a_missing_cell() {
+    assert_each_continuation_allocates(true);
+}
+
+#[test]
+fn uninitialized_boxed_let_materializes_a_missing_cell() {
+    assert_each_continuation_allocates(false);
+}
diff --git a/crates/perry-codegen/src/stmt/boxed_local_init.rs b/crates/perry-codegen/src/stmt/boxed_local_init.rs
new file mode 100644
index 0000000000..418f7f2377
--- /dev/null
+++ b/crates/perry-codegen/src/stmt/boxed_local_init.rs
@@ -0,0 +1,42 @@
+//! A reused stack slot is not proof its boxed declaration executed (#10048).
+//! Generator continuations can emit the declaration on mutually exclusive paths.
+//! Preserve live var cells, but create a missing cell before a self-capturing init.
+use crate::expr::FnCtx;
+use crate::types::{I32, I64};
+
+pub(super) fn ensure_reused_box_is_initialized(ctx: &mut FnCtx<'_>, id: u32) {
+    if !ctx.boxed_vars.contains(&id)
+        || ctx.prealloc_boxes.contains(&id)
+        || ctx.module_globals.contains_key(&id)
+    {
+        return;
+    }
+    let Some(slot) = ctx.locals.get(&id).cloned() else {
+        return;
+    };
+    let pointer = ctx.block().load(I64, &slot);
+    let missing = ctx
+        .block()
+        .icmp_eq(I64, &pointer, crate::nanbox::TAG_UNDEFINED_I64);
+    let allocate = ctx.new_block("boxed.reuse.allocate");
+    let ready = ctx.new_block("boxed.reuse.ready");
+    let allocate_label = ctx.block_label(allocate);
+    let ready_label = ctx.block_label(ready);
+    ctx.block().cond_br(&missing, &allocate_label, &ready_label);
+    ctx.current_block = allocate;
+    let cell = if crate::expr::is_compiler_private_async_i32_control_local(ctx, id) {
+        ctx.block().call(I64, "js_i32_box_alloc", &[(I32, "0")])
+    } else if crate::expr::is_compiler_private_async_i1_control_local(ctx, id) {
+        ctx.block().call(I64, "js_bool_box_alloc", &[(I32, "0")])
+    } else {
+        ctx.block().call(
+            I64,
+            "js_box_alloc_bits",
+            &[(I64, crate::nanbox::TAG_UNDEFINED_I64)],
+        )
+    };
+    ctx.block().store(I64, &cell, &slot);
+    super::record_boxed_slot_js_value_bits(ctx, id, &cell, "boxed_let.reused_missing_box");
+    ctx.block().br(&ready_label);
+    ctx.current_block = ready;
+}
diff --git a/crates/perry-codegen/src/stmt/let_stmt.rs b/crates/perry-codegen/src/stmt/let_stmt.rs
index fabc412735..f9bdad3bc5 100644
--- a/crates/perry-codegen/src/stmt/let_stmt.rs
+++ b/crates/perry-codegen/src/stmt/let_stmt.rs
@@ -386,6 +386,8 @@ pub(crate) fn lower_let(
     // reuse guard must consider the rep map too, or a redeclaration would
     // re-run the allocation path and leave the local with two slots.
     if ctx.locals.contains_key(&id) || ctx.local_slot_reps.contains_key(&id) {
+        // #10048: materialize a missing continuation cell before its initializer.
+        super::boxed_local_init::ensure_reused_box_is_initialized(ctx, id);
         if let Some(init_expr) = init {
             // The binding's OWN declaration ends its Temporal Dead Zone: the
             // reused-slot write below (plain, unchecked) overwrites any TAG_TDZ
diff --git a/crates/perry-codegen/src/stmt/mod.rs b/crates/perry-codegen/src/stmt/mod.rs
index 6550f09bab..95dbf94c9d 100644
--- a/crates/perry-codegen/src/stmt/mod.rs
+++ b/crates/perry-codegen/src/stmt/mod.rs
@@ -11,6 +11,9 @@ use crate::expr::{lower_expr, lower_expr_value, materialize_js_value, FnCtx};
 use crate::native_value::{LoweredValue, MaterializationReason};
 use crate::types::DOUBLE;
 
+#[cfg(test)]
+mod boxed_continuation_tests;
+mod boxed_local_init;
 #[cfg(test)]
 mod boxed_slot_no_root_tests;
 mod cached_field_index_return;
diff --git a/crates/perry-codegen/src/stmt/prealloc_module_global_tests.rs b/crates/perry-codegen/src/stmt/prealloc_module_global_tests.rs
index 5443cc155f..3b990bd6ff 100644
--- a/crates/perry-codegen/src/stmt/prealloc_module_global_tests.rs
+++ b/crates/perry-codegen/src/stmt/prealloc_module_global_tests.rs
@@ -39,7 +39,7 @@ use crate::{compile_module, AppMetadata, CompileOptions};
 use perry_hir::types::Type;
 use perry_hir::{Expr, Module, ModuleInitKind, Param, Stmt};
 
-fn ir_opts() -> CompileOptions {
+pub(super) fn ir_opts() -> CompileOptions {
     CompileOptions {
         target: None,
         is_entry_module: true,
diff --git a/test-files/test_gap_generator_delegated_local_capture.ts b/test-files/test_gap_generator_delegated_local_capture.ts
new file mode 100644
index 0000000000..a3632d937e
--- /dev/null
+++ b/test-files/test_gap_generator_delegated_local_capture.ts
@@ -0,0 +1,19 @@
+// #10048: a delegated loop emits multiple copies of the resumed scope.
+// The callback's preallocated cell must be initialized in every copy.
+async function* delegate(value: number) { yield value; }
+async function* outer() {
+  let base = 40;
+  for (let index = 0; index < 2; index++) {
+    yield* delegate(index);
+    let getter = () => base + index;
+    let wrapper = () => getter();
+    yield wrapper();
+  }
+}
+async function main() {
+  const values: number[] = [];
+  for await (const value of outer()) values.push(value);
+  if (values.join(',') !== '0,40,1,41') throw new Error(values.join(','));
+  console.log('PASS: delegated loop captures local callable');
+}
+main().catch(error => { console.error(error); process.exit(1); });
diff --git a/test-files/test_gap_generator_preallocated_capture_controls.ts b/test-files/test_gap_generator_preallocated_capture_controls.ts
new file mode 100644
index 0000000000..fc3cc7f951
--- /dev/null
+++ b/test-files/test_gap_generator_preallocated_capture_controls.ts
@@ -0,0 +1,79 @@
+// #10048 controls: fresh iteration cells, empty delegates, TDZ, var identity,
+// recursive closures, and captures made after ordinary yield/await.
+function check(label: string, actual: string, expected: string) {
+  if (actual !== expected) throw new Error(label + ': ' + actual + ' != ' + expected);
+  console.log(label + ': ' + actual);
+}
+async function* emptyDelegate() { if (false) yield -1; }
+async function* nonemptyDelegate(value: number) { yield value; }
+async function* emptyLoop() {
+  for (let index = 0; index < 2; index++) {
+    yield* emptyDelegate();
+    let getter = () => index + 40;
+    let wrapper = () => getter();
+    yield wrapper();
+  }
+}
+async function* yieldControl() {
+  yield 1;
+  let getter = () => 42;
+  let wrapper = () => getter();
+  yield wrapper();
+}
+async function awaitControl() {
+  await Promise.resolve(1);
+  let getter = () => 42;
+  let wrapper = () => getter();
+  return wrapper();
+}
+async function* retained(callbacks: Array<() => number>) {
+  for (let index = 0; index < 3; index++) {
+    yield* nonemptyDelegate(index);
+    let value = index + 10;
+    let getter = () => value;
+    let wrapper = () => getter();
+    callbacks.push(wrapper);
+    value += 100;
+    yield wrapper();
+  }
+}
+// Separate invocations: repeated-block TDZ reset already fails on main (#10051).
+function tdzAndRecursion(index: number) {
+  const results: string[] = [];
+  let read = () => value;
+  try { read(); results.push('missing-tdz'); }
+  catch (error) { results.push(error instanceof ReferenceError ? 'tdz' : 'wrong-error'); }
+  let value: number;
+  results.push(String(read()));
+  value = index;
+  results.push(String(read()));
+  let recurse = (n: number): number => n === 0 ? value : recurse(n - 1);
+  results.push(String(recurse(2)));
+  return results.join(',');
+}
+function hoistedVar() {
+  const callbacks: Array<() => number> = [];
+  for (let index = 0; index < 3; index++) {
+    callbacks.push(read);
+    var value = index;
+    function read() { return value; }
+  }
+  return callbacks.map(callback => callback()).join(',');
+}
+async function collect(iterator: AsyncIterable<number>) {
+  const values: number[] = [];
+  for await (const value of iterator) values.push(value);
+  return values.join(',');
+}
+async function main() {
+  check('empty delegate', await collect(emptyLoop()), '40,41');
+  check('ordinary yield', await collect(yieldControl()), '1,42');
+  check('ordinary await', String(await awaitControl()), '42');
+  const callbacks: Array<() => number> = [];
+  check('retained yields', await collect(retained(callbacks)), '0,110,1,111,2,112');
+  check('retained callbacks', callbacks.map(callback => callback()).join(','), '110,111,112');
+  check('TDZ and recursion', tdzAndRecursion(0) + ',' + tdzAndRecursion(1), 'tdz,undefined,0,0,tdz,undefined,1,1');
+  check('hoisted var', hoistedVar(), '2,2,2');
+  console.log('PASS: preallocated capture controls');
+}
+main().catch(error => { console.error(error); process.exit(1); });