10-Q Filing

SUNRISE REAL ESTATE GROUP INC CIK: 1083490 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001144204-11-048559`
Period End Date	20110630
Filing Date	20110819
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	srre-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 64 Cash Flow Statement 70

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`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`	$1.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	23.69M	shares	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$2.97M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.19M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	23.69M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.19M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$258.34K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$781.79K	USD	Point-in-time
Promissory deposits (Note 3)	`DepositsAssetsCurrent`	$1.14M	USD	Point-in-time
Promissory deposits (Note 3)	`DepositsAssetsCurrent`	$653.62K	USD	Point-in-time
Other receivables and deposits (Note 4)	`OtherReceivablesAndDepositNetCurrent`	$4.44M	USD	Point-in-time
Other receivables and deposits (Note 4)	`OtherReceivablesAndDepositNetCurrent`	$378.75K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.03M	USD	Point-in-time
Property, plant and equipment - net (Note 5)	`PropertyPlantAndEquipmentNet`	$2.48M	USD	Point-in-time
Property, plant and equipment - net (Note 5)	`PropertyPlantAndEquipmentNet`	$2.57M	USD	Point-in-time
Investment properties (Note 6)	`LongTermInvestments`	$7.06M	USD	Point-in-time
Investment properties (Note 6)	`LongTermInvestments`	$7.21M	USD	Point-in-time
Long-term investment	`EquityMethodInvestments`	$1.55M	USD	Point-in-time
Long-term investment	`EquityMethodInvestments`	$1.51M	USD	Point-in-time
Total assets	`Assets`	$19.71M	USD	Point-in-time
Total assets	`Assets`	$17.32M	USD	Point-in-time
Bank loans (Note 7)	`LoansPayableToBankCurrent`	$10.82M	USD	Point-in-time
Bank loans (Note 7)	`LoansPayableToBankCurrent`	$8.30M	USD	Point-in-time
Promissory notes payable (Note 8)	`NotesPayableCurrent`	$469.52K	USD	Point-in-time
Promissory notes payable (Note 8)	`NotesPayableCurrent`	$903.98K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$86.93K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$78.24K	USD	Point-in-time
Amount due to directors (Note 9)	`DueToOfficersOrStockholdersCurrent`	$189.84K	USD	Point-in-time
Amount due to directors (Note 9)	`DueToOfficersOrStockholdersCurrent`	$146.99K	USD	Point-in-time
Amount due to related party (Note 9)	`DueToRelatedPartiesCurrent`	$2.87M	USD	Point-in-time
Amount due to related party (Note 9)	`DueToRelatedPartiesCurrent`	$98.12K	USD	Point-in-time
Other payables and accrued expenses (Note 10)	`OtherAccountsPayableAndAccruedLiabilities`	$3.09M	USD	Point-in-time
Other payables and accrued expenses (Note 10)	`OtherAccountsPayableAndAccruedLiabilities`	$3.83M	USD	Point-in-time
Other tax payable (Note 11)	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$286.27K	USD	Point-in-time
Other tax payable (Note 11)	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$266.71K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.32M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.22M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.72M	USD	Point-in-time
Long-term bank loans (Note 7)	`LongTermLoansFromBank`	$2.26M	USD	Point-in-time
Deposits received from underwriting sales (Note 13)	`CustomerDepositsNoncurrent`	$3.45M	USD	Point-in-time
Deposits received from underwriting sales (Note 13)	`CustomerDepositsNoncurrent`	$3.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.98M	USD	Point-in-time
Noncontrolling interests of consolidated subsidiaries	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.19M	USD	Point-in-time
Noncontrolling interests of consolidated subsidiaries	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.41M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01 per share; 200,000,000 shares authorized; 26,191,925 shares issued and outstanding as of June 30, 2011 and 23,691,925 as of December 31, 2010	`CommonStockValue`	$236.92K	USD	Point-in-time
Common stock, par value $0.01 per share; 200,000,000 shares authorized; 26,191,925 shares issued and outstanding as of June 30, 2011 and 23,691,925 as of December 31, 2010	`CommonStockValue`	$261.92K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$4.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.62M	USD	Point-in-time
Statutory reserve (Note 14)	`RetainedEarningsAppropriated`	$787.46K	USD	Point-in-time
Statutory reserve (Note 14)	`RetainedEarningsAppropriated`	$787.46K	USD	Point-in-time
Accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-9.23M	USD	Point-in-time
Accumulated losses	`RetainedEarningsAccumulatedDeficit`	$-10.56M	USD	Point-in-time
Accumulated other comprehensive income (Note 15)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$664.20K	USD	Point-in-time
Accumulated other comprehensive income (Note 15)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$733.94K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-3.85M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquity`	$-4.75M	USD	Point-in-time
Total liabilities and shareholders' equity deficit	`LiabilitiesAndStockholdersEquity`	$17.32M	USD	Point-in-time
Total liabilities and shareholders' equity deficit	`LiabilitiesAndStockholdersEquity`	$19.71M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net Revenues	`SalesRevenueNet`	$4.73M	USD	2 Qtrs
Net Revenues	`SalesRevenueNet`	$2.12M	USD	1 Quarter
Net Revenues	`SalesRevenueNet`	$7.64M	USD	2 Qtrs
Net Revenues	`SalesRevenueNet`	$2.94M	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	$4.12M	USD	2 Qtrs
Cost of Revenues	`CostOfRevenue`	$1.55M	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	$2.11M	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	$3.28M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$1.44M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$836.56K	USD	1 Quarter
Gross Profit	`GrossProfit`	$575.24K	USD	1 Quarter
Gross Profit	`GrossProfit`	$3.52M	USD	2 Qtrs
Operating Expenses	`OperatingCostsAndExpenses`	$661.31K	USD	2 Qtrs
Operating Expenses	`OperatingCostsAndExpenses`	$293.09K	USD	1 Quarter
Operating Expenses	`OperatingCostsAndExpenses`	$322.40K	USD	1 Quarter
Operating Expenses	`OperatingCostsAndExpenses`	$661.61K	USD	2 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$532.98K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$438.87K	USD	1 Quarter
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$1.12M	USD	2 Qtrs
General and Administrative Expenses	`GeneralAndAdministrativeExpense`	$1.13M	USD	2 Qtrs
Operating Profit/(Loss)	`OperatingIncomeLoss`	$-351.84K	USD	2 Qtrs
Operating Profit/(Loss)	`OperatingIncomeLoss`	$-186.03K	USD	1 Quarter
Operating Profit/(Loss)	`OperatingIncomeLoss`	$1.74M	USD	2 Qtrs
Operating Profit/(Loss)	`OperatingIncomeLoss`	$10.49K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$7.42K	USD	2 Qtrs
Interest Income	`InvestmentIncomeInterest`	$3.67K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$5.12K	USD	2 Qtrs
Interest Income	`InvestmentIncomeInterest`	$2.13K	USD	1 Quarter
Other Income, Net	`OtherNonoperatingIncomeExpense`	$-22.53K	USD	1 Quarter
Other Income, Net	`OtherNonoperatingIncomeExpense`	$114.00	USD	1 Quarter
Other Income, Net	`OtherNonoperatingIncomeExpense`	$-5.32K	USD	2 Qtrs
Other Income, Net	`OtherNonoperatingIncomeExpense`	$-5.60K	USD	2 Qtrs
Interest Expenses	`InterestExpense`	$306.11K	USD	2 Qtrs
Interest Expenses	`InterestExpense`	$467.82K	USD	1 Quarter
Interest Expenses	`InterestExpense`	$157.60K	USD	1 Quarter
Interest Expenses	`InterestExpense`	$660.80K	USD	2 Qtrs
Profit/(Loss) Before Income Tax and Minority Interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.01M	USD	2 Qtrs
Profit/(Loss) Before Income Tax and Minority Interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-167.51K	USD	1 Quarter
Profit/(Loss) Before Income Tax and Minority Interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.44M	USD	2 Qtrs
Profit/(Loss) Before Income Tax and Minority Interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-650.07K	USD	1 Quarter
Income Tax	`IncomeTaxExpenseBenefit`	$124.30K	USD	1 Quarter
Income Tax	`IncomeTaxExpenseBenefit`	$550.30K	USD	2 Qtrs
Income Tax	`IncomeTaxExpenseBenefit`	$132.63K	USD	2 Qtrs
Income Tax	`IncomeTaxExpenseBenefit`	$527.17K	USD	1 Quarter
Profit/(Loss) Before Minority Interest	`ProfitLoss`	$-774.37K	USD	1 Quarter
Profit/(Loss) Before Minority Interest	`ProfitLoss`	$885.53K	USD	2 Qtrs
Profit/(Loss) Before Minority Interest	`ProfitLoss`	$-1.14M	USD	2 Qtrs
Profit/(Loss) Before Minority Interest	`ProfitLoss`	$-694.68K	USD	1 Quarter
Minority Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$194.03K	USD	2 Qtrs
Minority Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-187.76K	USD	1 Quarter
Minority Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$368.33K	USD	2 Qtrs
Minority Interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$70.51K	USD	1 Quarter
Net Profit/(Loss)	`NetIncomeLoss`	$517.20K	USD	2 Qtrs
Net Profit/(Loss)	`NetIncomeLoss`	$-1.34M	USD	2 Qtrs
Net Profit/(Loss)	`NetIncomeLoss`	$-506.92K	USD	1 Quarter
Net Profit/(Loss)	`NetIncomeLoss`	$-844.88K	USD	1 Quarter
Profit/(Loss) Per Share - Basic and Fully Diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Profit/(Loss) Per Share - Basic and Fully Diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	2 Qtrs
Profit/(Loss) Per Share - Basic and Fully Diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Profit/(Loss) Per Share - Basic and Fully Diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	2 Qtrs
Weighted average common shares outstanding - Basic and Fully Diluted	`WeightedAverageNumberBasicDilutedSharesOutstanding`	23.69M	shares	2 Qtrs
Weighted average common shares outstanding - Basic and Fully Diluted	`WeightedAverageNumberBasicDilutedSharesOutstanding`	23.69M	shares	1 Quarter
Weighted average common shares outstanding - Basic and Fully Diluted	`WeightedAverageNumberBasicDilutedSharesOutstanding`	26.19M	shares	2 Qtrs
Weighted average common shares outstanding - Basic and Fully Diluted	`WeightedAverageNumberBasicDilutedSharesOutstanding`	26.19M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net Profit/(Loss)	`NetIncomeLoss`	$517.20K	USD	2 Qtrs
Net Profit/(Loss)	`NetIncomeLoss`	$-1.34M	USD	2 Qtrs
Net Profit/(Loss)	`NetIncomeLoss`	$-506.92K	USD	1 Quarter
Net Profit/(Loss)	`NetIncomeLoss`	$-844.88K	USD	1 Quarter
Depreciation of property, plant and equipment	`Depreciation`	$457.55K	USD	2 Qtrs
Depreciation of property, plant and equipment	`Depreciation`	$422.52K	USD	2 Qtrs
Loss/ (Gain) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-741.00	USD	2 Qtrs
Loss/ (Gain) on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.75K	USD	2 Qtrs
Minority interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$194.03K	USD	2 Qtrs
Minority interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-187.76K	USD	1 Quarter
Minority interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$368.33K	USD	2 Qtrs
Minority interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$70.51K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$863.86K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$511.81K	USD	2 Qtrs
Promissory deposits	`IncreaseDecreaseInDepositOtherAssets`	$439.76K	USD	2 Qtrs
Promissory deposits	`IncreaseDecreaseInDepositOtherAssets`	$-504.39K	USD	2 Qtrs
Other receivables and deposits	`IncreaseDecreaseInDepositsAndOtherAssets`	$488.85K	USD	2 Qtrs
Other receivables and deposits	`IncreaseDecreaseInDepositsAndOtherAssets`	$17.04K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.60K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-32.26K	USD	2 Qtrs
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$654.59K	USD	2 Qtrs
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$463.98K	USD	2 Qtrs
Deposit from underwriting sales	`IncreaseDecreaseInCustomerDeposits`	$-549.07K	USD	2 Qtrs
Deposit from underwriting sales	`IncreaseDecreaseInCustomerDeposits`	$-200.48K	USD	2 Qtrs
Interest payable on promissory notes	`IncreaseDecreaseInInterestPayableNet`	$7.50K	USD	2 Qtrs
Interest payable on promissory notes	`IncreaseDecreaseInInterestPayableNet`	$-24.90K	USD	2 Qtrs
Interest payable on amount due to director	`IncreaseDecreaseInDueToOfficersAndStockholdersCurrent`	$1.22K	USD	2 Qtrs
Interest payable on amount due to director	`IncreaseDecreaseInDueToOfficersAndStockholdersCurrent`	$277.09K	USD	2 Qtrs
Deferred tax liabilities	`IncreaseDecreaseInDeferredTaxLiabilities`	$328.57K	USD	2 Qtrs
Deferred tax liabilities	`IncreaseDecreaseInDeferredTaxLiabilities`	-	USD	2 Qtrs
Other tax payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$13.19K	USD	2 Qtrs
Other tax payable	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-210.40K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$119.52K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-127.15K	USD	2 Qtrs
Net cash provided by/(used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-87.19K	USD	2 Qtrs
Net cash provided by/(used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-387.00K	USD	2 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.20K	USD	2 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$435.31K	USD	2 Qtrs
Proceeds from disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.08K	USD	2 Qtrs
Proceeds from disposal of plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$4.53K	USD	2 Qtrs
Provide funds for investee	`PaymentsForProceedsFromOtherInvestingActivities`	$3.99M	USD	2 Qtrs
Provide funds for investee	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	2 Qtrs
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00M	USD	2 Qtrs
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-430.78K	USD	2 Qtrs
Funds received from capital increase	`ProceedsFromIssuanceOrSaleOfEquity`	$500.00K	USD	2 Qtrs
Funds received from capital increase	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	2 Qtrs
Bank loans repayment	`RepaymentsOfBankDebt`	-	USD	2 Qtrs
Bank loans repayment	`RepaymentsOfBankDebt`	$205.22K	USD	2 Qtrs
Repayment of promissory note	`ProceedsFromRepaymentsOfNotesPayable`	$-143.34K	USD	2 Qtrs
Repayment to director	`RepaymentsOfRelatedPartyDebt`	$125.51K	USD	2 Qtrs
Repayment to director	`RepaymentsOfRelatedPartyDebt`	$43.85K	USD	2 Qtrs
Proceeds from promissory note	`ProceedsFromNotesPayable`	$2.00M	USD	2 Qtrs
Net cash provided by/ (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-474.08K	USD	2 Qtrs
Net cash provided by/ (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.46M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$83.47K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$142.36K	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.54M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.15M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.97M	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	$230.39K	USD	2 Qtrs
Income tax paid	`IncomeTaxesPaid`	$96.23K	USD	2 Qtrs
Interest paid	`InterestPaid`	$329.79K	USD	2 Qtrs
Interest paid	`InterestPaid`	$427.99K	USD	2 Qtrs

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