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10-Q Filing

SUNRISE REAL ESTATE GROUP INC CIK: 1083490 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001144204-17-064452
Period End Date 20160331
Filing Date 20171220
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance srre-20160331.xml
Filing Contents
Balance Sheet 86 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
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 $5.92M USD Point-in-time
Cash and cash equivalents CashEquivalentsAtCarryingValue $943.52K USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 68.69M shares Point-in-time
Restricted cash (Note 3) RestrictedCashAndCashEquivalentsAtCarryingValue $143.59K USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 68.69M shares Point-in-time
Restricted cash (Note 3) RestrictedCashAndCashEquivalentsAtCarryingValue $142.26K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $1.29M USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $1.09M USD Point-in-time
Promissory deposits (Note 4) DepositsAssetsCurrent $189.99K USD Point-in-time
Promissory deposits (Note 4) DepositsAssetsCurrent $1.21M USD Point-in-time
Real estate property under development (Note 5) LandAvailableForDevelopment $79.94M USD Point-in-time
Real estate property under development (Note 5) LandAvailableForDevelopment $77.78M USD Point-in-time
Amount due from an unconsolidated affiliate (Note 9) DueFromRelatedPartiesCurrent $2.51M USD Point-in-time
Amount due from an unconsolidated affiliate (Note 9) DueFromRelatedPartiesCurrent $2.54M USD Point-in-time
Other receivables and deposits, net (Note 6) OtherReceivablesAndDepositNetCurrent $2.02M USD Point-in-time
Other receivables and deposits, net (Note 6) OtherReceivablesAndDepositNetCurrent $3.23M USD Point-in-time
Total current assets AssetsCurrent $85.88M USD Point-in-time
Total current assets AssetsCurrent $93.05M USD Point-in-time
Property and equipment, net (Note 7) PropertyPlantAndEquipmentNet $1.59M USD Point-in-time
Property and equipment, net (Note 7) PropertyPlantAndEquipmentNet $7.54M USD Point-in-time
Investment properties, net (Note8) RealEstateInvestmentPropertyNet $4.94M USD Point-in-time
Investment properties, net (Note8) RealEstateInvestmentPropertyNet $5.01M USD Point-in-time
Deferred tax assets (Note 15) DeferredTaxAssetsLiabilitiesNetNoncurrent $142.11K USD Point-in-time
Deferred tax assets (Note 15) DeferredTaxAssetsLiabilitiesNetNoncurrent $156.04K USD Point-in-time
Investment in an unconsolidated affiliate (Note 9) EquityMethodInvestments $10.68M USD Point-in-time
Investment in an unconsolidated affiliate (Note 9) EquityMethodInvestments $7.56M USD Point-in-time
Other investments CostMethodInvestments $154.77K USD Point-in-time
Other investments CostMethodInvestments $154.00K USD Point-in-time
Total assets Assets $110.58M USD Point-in-time
Total assets Assets $1.05B USD Point-in-time
Total assets Assets $106.28M USD Point-in-time
Bank loans (Note 10) ShortTermBorrowings $8.23M USD Point-in-time
Bank loans (Note 10) ShortTermBorrowings $8.65M USD Point-in-time
Current portion of long term borrowings (Note 11) LongTermDebtCurrent 26.00M CNY Point-in-time
Current portion of long term borrowings (Note 11) LongTermDebtCurrent $11.45M USD Point-in-time
Current portion of long term borrowings (Note 11) LongTermDebtCurrent $4.62M USD Point-in-time
Promissory notes payable (Note12) NotesPayableCurrent $4.28M USD Point-in-time
Promissory notes payable (Note12) NotesPayableCurrent $8.12M USD Point-in-time
Accounts payable (Note 15) AccountsPayableCurrent $6.36M USD Point-in-time
Accounts payable (Note 15) AccountsPayableCurrent $7.47M USD Point-in-time
Amounts due to directors (Note 13) DueToOfficersOrStockholdersCurrent $10.98M USD Point-in-time
Amounts due to directors (Note 13) DueToOfficersOrStockholdersCurrent $10.81M USD Point-in-time
Amount due to an affiliate (Note 16) DueToAffiliateCurrent $32.52M USD Point-in-time
Amount due to an affiliate (Note 16) DueToAffiliateCurrent $36.98M USD Point-in-time
Customer deposits (Note 17) CustomerDepositsCurrent $18.14M USD Point-in-time
Customer deposits (Note 17) CustomerDepositsCurrent $21.00M USD Point-in-time
Other payables and accrued expenses (Note 14) AccruedLiabilitiesAndOtherLiabilities $1.50M USD Point-in-time
Other payables and accrued expenses (Note 14) AccruedLiabilitiesAndOtherLiabilities $1.20M USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $303.85K USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $276.94K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $110.39K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $116.37K USD Point-in-time
Total current liabilities LiabilitiesCurrent $100.71M USD Point-in-time
Total current liabilities LiabilitiesCurrent $92.41M USD Point-in-time
Long term bank loan (Note 11) LongTermDebtNoncurrent $11.14M USD Point-in-time
Long term bank loan (Note 11) LongTermDebtNoncurrent $18.48M USD Point-in-time
Deferred government subsidy (Note 18) DeferredGovernmentSubsidy $5.13M USD Point-in-time
Deferred government subsidy (Note 18) DeferredGovernmentSubsidy $5.11M USD Point-in-time
Total liabilities Liabilities $116.99M USD Point-in-time
Total liabilities Liabilities $116.00M USD Point-in-time
Commitments and contingencies (Note 19) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 19) CommitmentsAndContingencies - USD Point-in-time
Common stock, par value $0.01 per share; 200,000,000 shares Authorized; 68,691,925 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively CommonStockValue $686.92K USD Point-in-time
Common stock, par value $0.01 per share; 200,000,000 shares Authorized; 68,691,925 shares issued and outstanding as of March 31, 2016 and December 31, 2015, 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 $851.73K USD Point-in-time
Statutory reserve (Note 20) StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends $851.73K USD Point-in-time
Accumulated losses RetainedEarningsAccumulatedDeficit $-24.55M USD Point-in-time
Accumulated losses RetainedEarningsAccumulatedDeficit $-20.67M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $879.07K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $889.57K USD Point-in-time
Total deficit of Sunrise Real Estate Group, Inc. StockholdersEquity $-14.55M USD Point-in-time
Total deficit of Sunrise Real Estate Group, Inc. StockholdersEquity $-10.68M USD Point-in-time
Non-controlling interests MinorityInterest $4.84M USD Point-in-time
Non-controlling interests MinorityInterest $4.28M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-6.41M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $-9.71M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $110.58M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $106.28M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net revenues SalesRevenueNet $665.38K USD 1 Quarter
Net revenues SalesRevenueNet $1.40M USD 1 Quarter
Cost of revenues CostOfRevenue $682.14K USD 1 Quarter
Cost of revenues CostOfRevenue $732.90K USD 1 Quarter
Gross profit (loss) GrossProfit $-16.76K USD 1 Quarter
Gross profit (loss) GrossProfit $662.52K USD 1 Quarter
Operating expenses OperatingCostsAndExpenses $561.19K USD 1 Quarter
Operating expenses OperatingCostsAndExpenses $370.75K USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $1.08M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $808.29K USD 1 Quarter
Operating profit (loss) OperatingIncomeLoss $-1.20M USD 1 Quarter
Operating profit (loss) OperatingIncomeLoss $-979.31K USD 1 Quarter
Interest income InvestmentIncomeInterest $31.66K USD 1 Quarter
Interest income InvestmentIncomeInterest $27.93K USD 1 Quarter
Interest expense InterestExpense $650.82K USD 1 Quarter
Interest expense InterestExpense $809.87K USD 1 Quarter
Equity in net gain (loss) of an affiliate GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments $2.13M USD 1 Quarter
Equity in net gain (loss) of an affiliate GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments $-213.87K USD 1 Quarter
Other income (loss), net OtherNonoperatingIncomeExpense $3.15M USD 1 Quarter
Other income (loss), net OtherNonoperatingIncomeExpense $-248.82K USD 1 Quarter
Total Other Income (Expenses) NonoperatingIncomeExpense $-1.09M USD 1 Quarter
Total Other Income (Expenses) NonoperatingIncomeExpense $4.50M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-2.06M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $3.30M USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $-7.73K USD 1 Quarter
Income tax benefit (expense) IncomeTaxExpenseBenefit $-46.23K USD 1 Quarter
Net income (loss) ProfitLoss $-2.02M USD 1 Quarter
Net income (loss) ProfitLoss $3.31M USD 1 Quarter
Less: Net (income) loss attributable to non-controlling Interests NetIncomeLossAttributableToNoncontrollingInterest $-561.36K USD 1 Quarter
Less: Net (income) loss attributable to non-controlling Interests NetIncomeLossAttributableToNoncontrollingInterest $-462.56K USD 1 Quarter
Net income (loss) attributable to shareholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $3.87M USD 1 Quarter
Net income (loss) attributable to shareholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $-1.56M USD 1 Quarter
Earnings (Loss) per share - basic and fully diluted EarningsPerShareBasicAndDiluted $-0.02 USD 1 Quarter
Earnings (Loss) per share - basic and fully diluted EarningsPerShareBasicAndDiluted $0.06 USD 1 Quarter
Weighted average common shares outstanding - Basic and fully diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted 68.69M shares 1 Quarter
Weighted average common shares outstanding - Basic and fully diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted 68.69M shares 1 Quarter
Cash Flow Statement 84 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-2.02M USD 1 Quarter
Net income (loss) ProfitLoss $3.31M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $262.68K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $196.41K USD 1 Quarter
Bad debts BadDebtRecovered $-191.76K USD 1 Quarter
Bad debts BadDebtRecovered - USD 1 Quarter
Loss (Gain) on disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment - USD 1 Quarter
Loss (Gain) on disposal of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $3.16M USD 1 Quarter
Equity in net loss (income) of unconsolidated affiliates IncomeLossFromEquityMethodInvestmentsExcludingImpairmentLoss $-213.87K USD 1 Quarter
Equity in net loss (income) of unconsolidated affiliates IncomeLossFromEquityMethodInvestmentsExcludingImpairmentLoss $2.13M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $238.02K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-199.58K USD 1 Quarter
Promissory deposits IncreaseDecreaseInDepositOtherAssets $26.05K USD 1 Quarter
Promissory deposits IncreaseDecreaseInDepositOtherAssets $-1.01M USD 1 Quarter
Real estate property under development IncreaseDecreaseInRealEstatePropertyUnderDevelopment $2.11M USD 1 Quarter
Real estate property under development IncreaseDecreaseInRealEstatePropertyUnderDevelopment $1.76M USD 1 Quarter
Customer Deposits IncreaseDecreaseInCustomerDeposits $2.75M USD 1 Quarter
Customer Deposits IncreaseDecreaseInCustomerDeposits $1.82M USD 1 Quarter
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $-23.97K USD 1 Quarter
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $-166.55K USD 1 Quarter
Other receivables and deposits IncreaseDecreaseInOtherReceivablesAndDeposits $1.19M USD 1 Quarter
Other receivables and deposits IncreaseDecreaseInOtherReceivablesAndDeposits $1.16M USD 1 Quarter
Deferred tax assets IncreaseDecreaseInDeferredTaxAssets $46.23K USD 1 Quarter
Deferred tax assets IncreaseDecreaseInDeferredTaxAssets $13.10K USD 1 Quarter
Accounts payable IncreaseDecreaseInOtherAccountsPayable $-1.13M USD 1 Quarter
Accounts payable IncreaseDecreaseInOtherAccountsPayable $-1.60M USD 1 Quarter
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-214.85K USD 1 Quarter
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-306.38K USD 1 Quarter
Interest payable on promissory notes IncreaseDecreaseInInterestPayableNet $1.05M USD 1 Quarter
Interest payable on promissory notes IncreaseDecreaseInInterestPayableNet $1.00M USD 1 Quarter
Interest payable on amounts due to directors IncreaseDecreaseInDueToOfficersAndStockholdersCurrent $382.02K USD 1 Quarter
Interest payable on amounts due to directors IncreaseDecreaseInDueToOfficersAndStockholdersCurrent $464.20K USD 1 Quarter
Other taxes payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $-20.41K USD 1 Quarter
Other taxes payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $-28.18K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable - USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $5.37K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-751.28K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-3.35M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $122.58K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment - USD 1 Quarter
Proceeds from disposal of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from disposal of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $9.12M USD 1 Quarter
Capital injection to unconsolidated affiliates PaymentsForCapitalImprovements $920.34K USD 1 Quarter
Capital injection to unconsolidated affiliates PaymentsForCapitalImprovements $270.26K USD 1 Quarter
Advances to unconsolidated affiliates, net PaymentsForAdvancesToAffiliate $46.02K USD 1 Quarter
Advances to unconsolidated affiliates, net PaymentsForAdvancesToAffiliate $3.18K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-396.02K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $8.15M USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $-2.03K USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $-1.40M USD 1 Quarter
Bank loan repayments RepaymentsOfBankDebt $2.69M USD 1 Quarter
Bank loan repayments RepaymentsOfBankDebt $8.83M USD 1 Quarter
New bank loans ProceedsFromBankDebt $6.11M USD 1 Quarter
New bank loans ProceedsFromBankDebt $7.82M USD 1 Quarter
Advances from directors ProceedsFromDirectorsAdvance $19.64K USD 1 Quarter
Advances from directors ProceedsFromDirectorsAdvance $536.50K USD 1 Quarter
Repayments of advances from directors RepaymentsOfRelatedPartyDebt $2.56M USD 1 Quarter
Repayments of advances from directors RepaymentsOfRelatedPartyDebt $1.22M USD 1 Quarter
Advances from an affiliate ProceedsFromAffiliate $3.28M USD 1 Quarter
Advances from an affiliate ProceedsFromAffiliate $2.77M USD 1 Quarter
Repayments from an affiliate RepaymentsToAffiliate $172.58K USD 1 Quarter
Repayments from an affiliate RepaymentsToAffiliate $6.25K USD 1 Quarter
Proceeds from new promissory notes ProceedsFromNotesPayable $182.64K USD 1 Quarter
Proceeds from new promissory notes ProceedsFromNotesPayable $18.11K USD 1 Quarter
Repayments of promissory notes ProceedsFromRepaymentsOfNotesPayable $-4.03M USD 1 Quarter
Repayments of promissory notes ProceedsFromRepaymentsOfNotesPayable $-184.74K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-2.26M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $4.71M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-164.13K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $27.27K USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $4.97M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $989.75K USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $943.52K USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $2.62M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.63M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $5.92M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $943.52K USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $2.62M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.63M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $5.92M USD Point-in-time
Income taxes paid IncomeTaxesPaid $50.27K USD 1 Quarter
Income taxes paid IncomeTaxesPaid - USD 1 Quarter
Interest paid InterestPaidNet $943.87K USD 1 Quarter
Interest paid InterestPaidNet $2.00M USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net Income (Loss) ProfitLoss $-2.02M USD 1 Quarter
Net Income (Loss) ProfitLoss $3.31M USD 1 Quarter
Other comprehensive income (loss) - Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-8.48K USD 1 Quarter
Other comprehensive income (loss) - Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-34.88K USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $3.30M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-2.05M USD 1 Quarter
Less: Comprehensive (income) loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-559.35K USD 1 Quarter
Less: Comprehensive (income) loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-579.07K USD 1 Quarter
Total comprehensive income (loss) attributable to stockholders of Sunrise Real Estate Group, Inc. ComprehensiveIncomeNetOfTax $-1.47M USD 1 Quarter
Total comprehensive income (loss) attributable to stockholders of Sunrise Real Estate Group, Inc. ComprehensiveIncomeNetOfTax $3.86M USD 1 Quarter

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

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