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10-K Filing

SUNRISE REAL ESTATE GROUP INC CIK: 1083490 FY 2019
Filing Information
Form Type 10-K
Accession Number 0001104659-20-116418
Period End Date 20191231
Filing Date 20201020
Fiscal Year 2019
Fiscal Period FY
XBRL Instance srre-20191231.xml
Balance Sheet 85 line items
Line Item Tag Value Unit Period
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 200.00M shares Point-in-time
Cash and cash equivalents CashEquivalentsAtCarryingValue $17.66M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 68.69M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 68.69M shares Point-in-time
Cash and cash equivalents CashEquivalentsAtCarryingValue $15.90M USD Point-in-time
Restricted cash (Note 3) RestrictedCashAndCashEquivalentsAtCarryingValue $8.38M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 68.69M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 68.69M shares Point-in-time
Restricted cash (Note 3) RestrictedCashAndCashEquivalentsAtCarryingValue $1.55M USD Point-in-time
Transactional financial assets (Note 4) MarketableSecuritiesCurrent $49.45M USD Point-in-time
Transactional financial assets (Note 4) MarketableSecuritiesCurrent $27.82M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $234.36K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $24.41K USD Point-in-time
Promissory deposits (Note 5) DepositsAssetsCurrent - USD Point-in-time
Promissory deposits (Note 5) DepositsAssetsCurrent $114.75K USD Point-in-time
Real estate property under development (Note 6) LandAvailableForDevelopment $64.42M USD Point-in-time
Real estate property under development (Note 6) LandAvailableForDevelopment $85.91M USD Point-in-time
Amount due from unconsolidated affiliates (Note 10) DueFromRelatedPartiesCurrent $5.82M USD Point-in-time
Amount due from unconsolidated affiliates (Note 10) DueFromRelatedPartiesCurrent $257.63K USD Point-in-time
Other receivables and deposits, net (Note 7) OtherReceivablesAndDepositNetCurrent $7.54M USD Point-in-time
Other receivables and deposits, net (Note 7) OtherReceivablesAndDepositNetCurrent $8.78M USD Point-in-time
Total current assets AssetsCurrent $148.03M USD Point-in-time
Total current assets AssetsCurrent $145.83M USD Point-in-time
Property and equipment, net (Note 8) PropertyPlantAndEquipmentNet $1.20M USD Point-in-time
Property and equipment, net (Note 8) PropertyPlantAndEquipmentNet $1.10M USD Point-in-time
Investment properties, net (Note 9) RealEstateInvestmentPropertyNet $3.71M USD Point-in-time
Investment properties, net (Note 9) RealEstateInvestmentPropertyNet $26.95M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $380.63K USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet - USD Point-in-time
Investment in an unconsolidated affiliate EquityMethodInvestments $30.86M USD Point-in-time
Investment in an unconsolidated affiliate EquityMethodInvestments $12.78M USD Point-in-time
Other investments, net (Note 11) OtherInvestments $143.34K USD Point-in-time
Other investments, net (Note 11) OtherInvestments $145.71K USD Point-in-time
Total assets Assets $183.83M USD Point-in-time
Total assets Assets $187.28M USD Point-in-time
Promissory notes payable (Note 12) NotesPayableCurrent $1.46M USD Point-in-time
Promissory notes payable (Note 12) NotesPayableCurrent $1.43M USD Point-in-time
Amounts due to directors (Note 13) DueToOfficersOrStockholdersCurrent $1.77M USD Point-in-time
Amounts due to directors (Note 13) DueToOfficersOrStockholdersCurrent $1.47M USD Point-in-time
Accounts payable (Note 14) AccountsPayableCurrent $5.27M USD Point-in-time
Accounts payable (Note 14) AccountsPayableCurrent $4.35M USD Point-in-time
Customer deposits (Note 15) ContractWithCustomerRefundLiabilityCurrent $21.70M USD Point-in-time
Customer deposits (Note 15) ContractWithCustomerRefundLiabilityCurrent $40.70M USD Point-in-time
Amount due to an affiliate (Note 16) DueToAffiliateCurrent $513.55K USD Point-in-time
Amount due to an affiliate (Note 16) DueToAffiliateCurrent $504.80K USD Point-in-time
Dividends payable DividendsPayableCurrent - USD Point-in-time
Dividends payable DividendsPayableCurrent $6.87M USD Point-in-time
Other payables and accrued expenses (Note 17) AccruedLiabilitiesAndOtherLiabilities $929.94K USD Point-in-time
Other payables and accrued expenses (Note 17) AccruedLiabilitiesAndOtherLiabilities $14.53M USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $214.50K USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $382.21K USD Point-in-time
Income taxes payable (Note 18) AccruedIncomeTaxesCurrent $730.05K USD Point-in-time
Income taxes payable (Note 18) AccruedIncomeTaxesCurrent $1.04M USD Point-in-time
Total current liabilities LiabilitiesCurrent $45.41M USD Point-in-time
Total current liabilities LiabilitiesCurrent $58.45M USD Point-in-time
Long term income tax payable (Note 18) AccruedIncomeTaxesNoncurrent $2.93M USD Point-in-time
Long term income tax payable (Note 18) AccruedIncomeTaxesNoncurrent $3.28M USD Point-in-time
Deferred government subsidy (Note 19) DeferredGovernmentSubsidy $4.83M USD Point-in-time
Deferred government subsidy (Note 19) DeferredGovernmentSubsidy $4.75M USD Point-in-time
Total liabilities Liabilities $53.10M USD Point-in-time
Total liabilities Liabilities $66.56M USD Point-in-time
Commitments and contingencies (Note 21) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 21) CommitmentsAndContingencies - USD Point-in-time
Common stock, par value $0.01 per share; 200,000,000 shares Authorized; 68,691,925 and 68,691,925 shares issued and outstanding as of December 31, 2019 and 2018, respectively CommonStockValue $686.92K USD Point-in-time
Common stock, par value $0.01 per share; 200,000,000 shares Authorized; 68,691,925 and 68,691,925 shares issued and outstanding as of December 31, 2019 and 2018, respectively CommonStockValue $686.92K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $7.57M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $7.57M USD Point-in-time
Statutory reserve (Note 20) StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends $3.19M USD Point-in-time
Statutory reserve (Note 20) StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends $3.19M USD Point-in-time
Retained Earnings RetainedEarningsAccumulatedDeficit $106.73M USD Point-in-time
Retained Earnings RetainedEarningsAccumulatedDeficit $105.33M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $13.68M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.79M USD Point-in-time
Total equity of Sunrise Real Estate Group, Inc. StockholdersEquity $115.39M USD Point-in-time
Total equity of Sunrise Real Estate Group, Inc. StockholdersEquity $130.45M USD Point-in-time
Non-controlling interests MinorityInterest $1.89M USD Point-in-time
Non-controlling interests MinorityInterest $3.73M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $117.28M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $83.60M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $134.19M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $183.83M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $187.28M USD Point-in-time
Income Statement 35 line items
Line Item Tag Value Unit Period
Net revenues Revenues $32.99M USD Annual
Net revenues Revenues $8.24M USD Annual
Cost of revenues CostOfRevenue $6.69M USD Annual
Cost of revenues CostOfRevenue $26.81M USD Annual
Gross profit GrossProfit $6.18M USD Annual
Gross profit GrossProfit $1.55M USD Annual
Operating expenses OperatingCostsAndExpenses $3.08M USD Annual
Operating expenses OperatingCostsAndExpenses $1.84M USD Annual
General and administrative expenses GeneralAndAdministrativeExpense $10.05M USD Annual
General and administrative expenses GeneralAndAdministrativeExpense $2.92M USD Annual
Operating profit (loss) OperatingIncomeLoss $-3.20M USD Annual
Operating profit (loss) OperatingIncomeLoss $-6.95M USD Annual
Interest income InvestmentIncomeInterest $42.22K USD Annual
Interest income InvestmentIncomeInterest $151.76K USD Annual
Interest expense InterestExpense $2.14M USD Annual
Other income (loss), net OtherNonoperatingIncomeExpense $87.39K USD Annual
Other income (loss), net OtherNonoperatingIncomeExpense $1.89M USD Annual
Equity income (loss) of affiliates EquitySecuritiesFvNiRealizedGainLoss $53.32M USD Annual
Total Other Income (Expenses) NonoperatingIncomeExpense $2.04M USD Annual
Total Other Income (Expenses) NonoperatingIncomeExpense $51.31M USD Annual
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $48.11M USD Annual
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-4.90M USD Annual
Income taxes (Note 18) IncomeTaxExpenseBenefit - USD 1 Quarter
Income taxes (Note 18) IncomeTaxExpenseBenefit $-384.05K USD Annual
Income taxes (Note 18) IncomeTaxExpenseBenefit $1.57M USD Annual
Net income ProfitLoss $-4.52M USD Annual
Net income ProfitLoss $46.53M USD Annual
Less: Net (income) loss attributable to non-controlling Interests NetIncomeLossAttributableToNoncontrollingInterest $-2.77M USD Annual
Less: Net (income) loss attributable to non-controlling Interests NetIncomeLossAttributableToNoncontrollingInterest $-351.56K USD Annual
Net income attributable to shareholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $-1.75M USD Annual
Net income attributable to shareholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $46.89M USD Annual
Earnings per share - basic and fully diluted EarningsPerShareBasicAndDiluted $0.68 USD Annual
Earnings per share - basic and fully diluted EarningsPerShareBasicAndDiluted $-0.03 USD Annual
Weighted average common shares outstanding - Basic and fully diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted 68.69M shares Annual
Weighted average common shares outstanding - Basic and fully diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted 68.69M shares Annual
Cash Flow Statement 71 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-4.52M USD Annual
Net income (loss) ProfitLoss $46.53M USD Annual
Depreciation and amortization DepreciationDepletionAndAmortization $480.02K USD Annual
Depreciation and amortization DepreciationDepletionAndAmortization $1.67M USD Annual
Loss (Gain) on disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-19.96K USD Annual
Loss (Gain) on disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-4.12K USD Annual
Bad debts BadDebtsRecovered $-72.09K USD Annual
Bad debts BadDebtsRecovered $-2.52M USD Annual
Equity in net loss (income) of unconsolidated affiliates IncomeLossFromEquityMethodInvestments - USD Annual
Equity in net loss (income) of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $-18.01M USD Annual
Accounts receivable IncreaseDecreaseInAccountsReceivable $-102.92K USD Annual
Accounts receivable IncreaseDecreaseInAccountsReceivable $-208.78K USD Annual
Net cash from directors IncreaseDecreaseInNetCashFromDirectors - USD Annual
Net cash from directors IncreaseDecreaseInNetCashFromDirectors $269.37K USD Annual
Real estate property under development IncreaseDecreaseInRealEstatePropertyUnderDevelopment $-302.27K USD Annual
Real estate property under development IncreaseDecreaseInRealEstatePropertyUnderDevelopment $47.25M USD Annual
Customer Deposits IncreaseDecreaseInContractWithCustomerLiability $-18.57M USD Annual
Customer Deposits IncreaseDecreaseInContractWithCustomerLiability $1.26M USD Annual
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $74.71M USD Annual
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $-3.02M USD Annual
Other receivables and deposits IncreaseDecreaseInOtherReceivablesAndDeposits $-1.11M USD Annual
Other receivables and deposits IncreaseDecreaseInOtherReceivablesAndDeposits $2.54M USD Annual
Deferred tax assets IncreaseDecreaseInDeferredTaxAssets $385.47K USD Annual
Deferred tax assets IncreaseDecreaseInDeferredTaxAssets $-583.10K USD Annual
Accounts payable IncreaseDecreaseInOtherAccountsPayable $-846.06K USD Annual
Accounts payable IncreaseDecreaseInOtherAccountsPayable $1.74M USD Annual
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $13.79M USD Annual
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $15.31K USD Annual
Taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-354.27K USD Annual
Taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-21.91K USD Annual
Other Tax payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $-35.83K USD Annual
Other Tax payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $173.36K USD Annual
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-49.35M USD Annual
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-8.53M USD Annual
Acquisition of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $288.50K USD Annual
Acquisition of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.54K USD Annual
Transactional financial assets PaymentsForProceedsFromInvestments $28.39M USD Annual
Transactional financial assets PaymentsForProceedsFromInvestments $-21.10M USD Annual
Dividend distribution of affiliates ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $39.15M USD Annual
Dividend distribution of affiliates ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $71.34M USD Annual
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $42.94M USD Annual
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $59.96M USD Annual
Advances from directors ProceedsFromDirectorsAdvance $502.49K USD Annual
Advances from directors ProceedsFromDirectorsAdvance - USD Annual
Repayments to directors RepaymentsOfRelatedPartyDebt - USD Annual
Repayments to directors RepaymentsOfRelatedPartyDebt $3.82M USD Annual
Advances from an affiliates ProceedsFromAffiliate - USD Annual
Advances from an affiliates ProceedsFromAffiliate $8.14M USD Annual
Repayments to an affiliate RepaymentsToAffiliate $25.30M USD Annual
Repayments to an affiliate RepaymentsToAffiliate - USD Annual
Dividends paid PaymentsOfDividends - USD Annual
Dividends paid PaymentsOfDividends $6.87M USD Annual
Dividends paid PaymentsOfDividends $6.87M USD Point-in-time
Restricted cash IncreaseDecreaseInRestrictedCash $1.55M USD Annual
Restricted cash IncreaseDecreaseInRestrictedCash $6.94M USD Annual
Net cash (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-22.03M USD Annual
Net cash (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-13.81M USD Annual
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.45M USD Annual
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-1.67M USD Annual
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $10.72M USD Annual
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-1.76M USD Annual
Cash, cash equivalents, and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.94M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.90M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $17.66M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $6.94M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $15.90M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $17.66M USD Point-in-time
Income taxes paid IncomeTaxesPaid $7.59K USD Annual
Income taxes paid IncomeTaxesPaid $1.08M USD Annual
Interest paid InterestPaidNet $917.27K USD Annual
Interest paid InterestPaidNet - USD Annual
Stockholders Equity 16 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $117.28M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $83.60M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $134.19M USD Point-in-time
Net income (loss) ProfitLoss $-4.52M USD Annual
Net income (loss) ProfitLoss $46.53M USD Annual
Company purchase CompanyPurchase $353.15K USD Annual
Discontinuation of the equity method for an investment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociForInvestmentTransferredFromEquityMethodToAvailableForSaleAfterTax $21.00M USD Annual
Discontinuation of the equity method for an investment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociForInvestmentTransferredFromEquityMethodToAvailableForSaleAfterTax - USD Annual
Surplus reserve SurplusReserve - USD Annual
Capital contribution from non-controlling interests of new consolidated subsidiaries NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance - USD Annual
Accrual dividend DividendsCommonStock $6.87M USD Annual
Translation of foreign operations OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $5.99M USD Annual
Translation of foreign operations OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-72.71K USD Annual
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $117.28M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $83.60M USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $134.19M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $-4.52M USD Annual
Net income ProfitLoss $46.53M USD Annual
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-5.99M USD Annual
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $72.71K USD Annual
Discontinuation of the equity method for an investment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociForInvestmentTransferredFromEquityMethodToAvailableForSaleAfterTax $21.00M USD Annual
Discontinuation of the equity method for an investment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociForInvestmentTransferredFromEquityMethodToAvailableForSaleAfterTax - USD Annual
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $16.56M USD Annual
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $40.55M USD Annual
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-451.56K USD Annual
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $1.84M USD Annual
Total comprehensive income attributable to stockholders of Sunrise Real Estate Group, Inc. ComprehensiveIncomeNetOfTax $14.71M USD Annual
Total comprehensive income attributable to stockholders of Sunrise Real Estate Group, Inc. ComprehensiveIncomeNetOfTax $41.00M USD Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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