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10-Q Filing

SUNRISE REAL ESTATE GROUP INC CIK: 1083490 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0001144204-18-021642
Period End Date 20170331
Filing Date 20180420
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance srre-20170331.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
Cash and cash equivalents CashEquivalentsAtCarryingValue $7.32M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 68.69M shares Point-in-time
Cash and cash equivalents CashEquivalentsAtCarryingValue $8.69M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 68.69M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 68.69M shares Point-in-time
Restricted cash (Note 3) RestrictedCashAndCashEquivalentsAtCarryingValue $988.76K USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 68.69M shares Point-in-time
Restricted cash (Note 3) RestrictedCashAndCashEquivalentsAtCarryingValue $304.68K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $867.42K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $900.24K USD Point-in-time
Promissory deposits (Note 4) DepositsAssetsCurrent $176.96K USD Point-in-time
Promissory deposits (Note 4) DepositsAssetsCurrent $186.62K USD Point-in-time
Real estate property under development (Note 5) LandAvailableForDevelopment $78.65M USD Point-in-time
Real estate property under development (Note 5) LandAvailableForDevelopment $77.50M USD Point-in-time
Amount due from an unconsolidated affiliate (Note 9) DueFromRelatedPartiesCurrent $2.89M USD Point-in-time
Amount due from an unconsolidated affiliate (Note 9) DueFromRelatedPartiesCurrent $2.91M USD Point-in-time
Other receivables and deposits, net (Note 6) OtherReceivablesAndDepositNetCurrent $5.87M USD Point-in-time
Other receivables and deposits, net (Note 6) OtherReceivablesAndDepositNetCurrent $7.06M USD Point-in-time
Total current assets AssetsCurrent $97.98M USD Point-in-time
Total current assets AssetsCurrent $96.34M USD Point-in-time
Property and equipment, net (Note 7) PropertyPlantAndEquipmentNet $1.37M USD Point-in-time
Property and equipment, net (Note 7) PropertyPlantAndEquipmentNet $1.41M USD Point-in-time
Investment properties, net (Note 8) RealEstateInvestmentPropertyNet $4.29M USD Point-in-time
Investment properties, net (Note 8) RealEstateInvestmentPropertyNet $4.35M USD Point-in-time
Deferred tax assets (Note 15) DeferredTaxAssetsLiabilitiesNetNoncurrent $337.54K USD Point-in-time
Deferred tax assets (Note 15) DeferredTaxAssetsLiabilitiesNetNoncurrent $401.30K USD Point-in-time
Investment in an unconsolidated affiliate (Note 9) EquityMethodInvestments $37.04M USD Point-in-time
Investment in an unconsolidated affiliate (Note 9) EquityMethodInvestments $59.92M USD Point-in-time
Other investments CostMethodInvestments $144.16K USD Point-in-time
Other investments CostMethodInvestments $144.94K USD Point-in-time
Total assets Assets $164.10M USD Point-in-time
Total assets Assets $139.62M USD Point-in-time
Bank loans (Note 10) ShortTermBorrowings $6.91M USD Point-in-time
Bank loans (Note 10) ShortTermBorrowings $7.30M USD Point-in-time
Current portion of long term borrowings (Note 11) LongTermDebtCurrent 17.00M CNY Point-in-time
Current portion of long term borrowings (Note 11) LongTermDebtCurrent $7.50M USD Point-in-time
Current portion of long term borrowings (Note 11) LongTermDebtCurrent $2.46M USD Point-in-time
Current portion of long term borrowings (Note 11) LongTermDebtCurrent 52.00M CNY Point-in-time
Promissory notes payable (Note 12) NotesPayableCurrent $1.62M USD Point-in-time
Promissory notes payable (Note 12) NotesPayableCurrent $1.60M USD Point-in-time
Accounts payable (Note 15) AccountsPayableCurrent $2.49M USD Point-in-time
Accounts payable (Note 15) AccountsPayableCurrent $1.74M USD Point-in-time
Amounts due to directors (Note 13) DueToOfficersOrStockholdersCurrent $6.53M USD Point-in-time
Amounts due to directors (Note 13) DueToOfficersOrStockholdersCurrent $6.50M USD Point-in-time
Amount due to an affiliate (Note 16) DueToAffiliateCurrent $36.01M USD Point-in-time
Amount due to an affiliate (Note 16) DueToAffiliateCurrent $33.90M USD Point-in-time
Customer deposits (Note 17) CustomerDepositsCurrent $54.26M USD Point-in-time
Customer deposits (Note 17) CustomerDepositsCurrent $63.19M USD Point-in-time
Other payables and accrued expenses (Note 14) AccruedLiabilitiesAndOtherLiabilities $1.05M USD Point-in-time
Other payables and accrued expenses (Note 14) AccruedLiabilitiesAndOtherLiabilities $1.64M USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $232.38K USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $266.56K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $46.83K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $194.37K USD Point-in-time
Total current liabilities LiabilitiesCurrent $117.77M USD Point-in-time
Total current liabilities LiabilitiesCurrent $117.67M USD Point-in-time
Long term bank loan (Note 11) LongTermDebtNoncurrent - USD Point-in-time
Long term bank loan (Note 11) LongTermDebtNoncurrent - USD Point-in-time
Deferred government subsidy (Note 18) DeferredGovernmentSubsidy $4.78M USD Point-in-time
Deferred government subsidy (Note 18) DeferredGovernmentSubsidy $4.81M USD Point-in-time
Total liabilities Liabilities $122.48M USD Point-in-time
Total liabilities Liabilities $122.55M 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, 2017 and December 31, 2016, 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, 2017 and December 31, 2016, 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 $938.13K USD Point-in-time
Statutory reserve (Note 20) StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends $938.13K USD Point-in-time
Retained Earnings RetainedEarningsAccumulatedDeficit $5.83M USD Point-in-time
Retained Earnings RetainedEarningsAccumulatedDeficit $31.28M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $474.07K USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-49.37K USD Point-in-time
Total deficit of Sunrise Real Estate Group, Inc. StockholdersEquity $40.43M USD Point-in-time
Total deficit of Sunrise Real Estate Group, Inc. StockholdersEquity $15.50M USD Point-in-time
Non-controlling interests MinorityInterest $1.20M USD Point-in-time
Non-controlling interests MinorityInterest $1.57M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $41.63M USD Point-in-time
Total shareholders equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $17.07M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $139.62M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $164.10M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net revenues SalesRevenueNet $2.58M USD 1 Quarter
Net revenues SalesRevenueNet $665.38K USD 1 Quarter
Cost of revenues CostOfRevenue $311.74K USD 1 Quarter
Cost of revenues CostOfRevenue $682.14K USD 1 Quarter
Gross profit (loss) GrossProfit $-16.76K USD 1 Quarter
Gross profit (loss) GrossProfit $2.27M USD 1 Quarter
Operating expenses OperatingCostsAndExpenses $426.04K USD 1 Quarter
Operating expenses OperatingCostsAndExpenses $370.75K USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $808.29K USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $589.10K USD 1 Quarter
Operating profit (loss) OperatingIncomeLoss $1.25M USD 1 Quarter
Operating profit (loss) OperatingIncomeLoss $-1.20M USD 1 Quarter
Interest income InvestmentIncomeInterest $31.66K USD 1 Quarter
Interest income InvestmentIncomeInterest $9.37K USD 1 Quarter
Interest expense InterestExpense $118.98K USD 1 Quarter
Interest expense InterestExpense $809.87K USD 1 Quarter
Equity in net gain of an affiliate GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments $22.75M USD 1 Quarter
Equity in net gain of an affiliate GainLossOnInvestmentsExcludingOtherThanTemporaryImpairments $2.13M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $3.15M USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $1.11M USD 1 Quarter
Total Other Income NonoperatingIncomeExpense $23.75M USD 1 Quarter
Total Other Income NonoperatingIncomeExpense $4.50M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $25.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $3.30M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-62.11K USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-7.73K USD 1 Quarter
Net income ProfitLoss $3.31M USD 1 Quarter
Net income ProfitLoss $25.06M 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 $-385.01K USD 1 Quarter
Net income attributable to shareholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $3.87M USD 1 Quarter
Net income attributable to shareholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $25.45M USD 1 Quarter
Earnings per share - basic and fully diluted EarningsPerShareBasicAndDiluted $0.36 USD 1 Quarter
Earnings 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 86 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $3.31M USD 1 Quarter
Net income ProfitLoss $25.06M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $196.41K USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $130.73K USD 1 Quarter
Bad debts BadDebtRecovered - 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 IncomeLossFromEquityMethodInvestments $2.13M USD 1 Quarter
Equity in net loss (income) of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $22.68M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-199.58K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-37.85K USD 1 Quarter
Promissory deposits IncreaseDecreaseInDepositOtherAssets $8.72K USD 1 Quarter
Promissory deposits IncreaseDecreaseInDepositOtherAssets $-1.01M USD 1 Quarter
Real estate property under development IncreaseDecreaseInRealEstatePropertyUnderDevelopment $724.88K 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 $8.66M USD 1 Quarter
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $-23.97K USD 1 Quarter
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $2.67K 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 $13.10K USD 1 Quarter
Deferred tax assets IncreaseDecreaseInDeferredTaxAssets $62.11K USD 1 Quarter
Accounts payable IncreaseDecreaseInOtherAccountsPayable $-1.13M USD 1 Quarter
Accounts payable IncreaseDecreaseInOtherAccountsPayable $-761.24K USD 1 Quarter
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-602.25K USD 1 Quarter
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-306.38K USD 1 Quarter
Interest payable on promissory notes IncreaseDecreaseInInterestPayableNet - USD 1 Quarter
Interest payable on promissory notes IncreaseDecreaseInInterestPayableNet $1.00M USD 1 Quarter
Interest payable on amounts due to directors IncreaseDecreaseInDueToOfficersAndStockholdersCurrent $464.20K USD 1 Quarter
Interest payable on amounts due to directors IncreaseDecreaseInDueToOfficersAndStockholdersCurrent - USD 1 Quarter
Other taxes payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $33.01K USD 1 Quarter
Other taxes payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $-28.18K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $5.37K USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-149.07K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $7.77M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-751.28K USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment - USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment - USD 1 Quarter
Proceeds from disposal of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $9.12M USD 1 Quarter
Proceeds from disposal of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Acquisition of property, plant and equipment PaymentsToAcquireProductiveAssets - USD 1 Quarter
Acquisition of property, plant and equipment PaymentsToAcquireProductiveAssets $28.41K USD 1 Quarter
Capital injection to unconsolidated affiliates PaymentsForCapitalImprovements $920.34K USD 1 Quarter
Capital injection to unconsolidated affiliates PaymentsForCapitalImprovements $318.87K USD 1 Quarter
Advances to unconsolidated affiliates, net PaymentsForAdvancesToAffiliate - USD 1 Quarter
Advances to unconsolidated affiliates, net PaymentsForAdvancesToAffiliate $46.02K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-347.29K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $8.15M USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $684.56K USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $-2.03K USD 1 Quarter
Bank loan repayments RepaymentsOfBankDebt $8.83M USD 1 Quarter
Bank loan repayments RepaymentsOfBankDebt $5.53M USD 1 Quarter
New bank loans ProceedsFromBankDebt $7.82M USD 1 Quarter
New bank loans ProceedsFromBankDebt - USD 1 Quarter
Advances from directors ProceedsFromDirectorsAdvance $11.17K USD 1 Quarter
Advances from directors ProceedsFromDirectorsAdvance $536.50K USD 1 Quarter
Repayments of advances from directors RepaymentsOfRelatedPartyDebt $1.22M USD 1 Quarter
Repayments of advances from directors RepaymentsOfRelatedPartyDebt - USD 1 Quarter
Advances from an affiliate ProceedsFromAffiliate $3.28M USD 1 Quarter
Advances from an affiliate ProceedsFromAffiliate - USD 1 Quarter
Repayments from an affiliate RepaymentsToAffiliate $6.25K USD 1 Quarter
Repayments from an affiliate RepaymentsToAffiliate $2.31M USD 1 Quarter
Proceeds from new promissory notes ProceedsFromNotesPayable $545.00 USD 1 Quarter
Proceeds from new promissory notes ProceedsFromNotesPayable $182.64K USD 1 Quarter
Repayments of promissory notes ProceedsFromRepaymentsOfNotesPayable $-21.81K USD 1 Quarter
Repayments of promissory notes ProceedsFromRepaymentsOfNotesPayable $-4.03M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-8.53M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-2.26M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-270.78K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-164.13K USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-1.37M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $4.97M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $8.69M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $943.52K USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $7.32M 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 $8.69M 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 $7.32M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $5.92M USD Point-in-time
Income taxes paid IncomeTaxesPaid - USD 1 Quarter
Income taxes paid IncomeTaxesPaid - USD 1 Quarter
Interest paid InterestPaidNet $2.00M USD 1 Quarter
Interest paid InterestPaidNet $258.13K USD 1 Quarter
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net Income ProfitLoss $3.31M USD 1 Quarter
Net Income ProfitLoss $25.06M 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 $-504.31K USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $3.30M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $24.56M 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 $-365.88K USD 1 Quarter
Total comprehensive income attributable to stockholders of Sunrise Real Estate Group, Inc. ComprehensiveIncomeNetOfTax $24.93M USD 1 Quarter
Total comprehensive income 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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