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10-K Filing

SUNRISE REAL ESTATE GROUP INC CIK: 1083490 FY 2022
Filing Information
Form Type 10-K
Accession Number 0001410578-23-000806
Period End Date 20221231
Filing Date 20230426
Fiscal Year 2022
Fiscal Period FY
XBRL Instance srre-20221231x10k_htm.xml
Balance Sheet 83 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
Cash and cash equivalents CashEquivalentsAtCarryingValue $24.90M USD Point-in-time
Cash and cash equivalents CashEquivalentsAtCarryingValue $33.20M 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 RestrictedCashCurrent $73.01M USD Point-in-time
Restricted cash RestrictedCashCurrent $43.87M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 68.69M shares Point-in-time
Transactional financial assets MarketableSecuritiesCurrent $10.96M USD Point-in-time
Transactional financial assets MarketableSecuritiesCurrent $13.89M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $65.85K USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $204.52K USD Point-in-time
Real estate property under development LandAvailableForDevelopment $178.69M USD Point-in-time
Real estate property under development LandAvailableForDevelopment $120.30M USD Point-in-time
Amount due from unconsolidated affiliates DueFromRelatedPartiesCurrent $16.50M USD Point-in-time
Amount due from unconsolidated affiliates DueFromRelatedPartiesCurrent $15.84M USD Point-in-time
Other receivables and deposits, net OtherReceivablesAndDepositNetCurrent $10.73M USD Point-in-time
Other receivables and deposits, net OtherReceivablesAndDepositNetCurrent $15.24M USD Point-in-time
Total current assets AssetsCurrent $235.77M USD Point-in-time
Total current assets AssetsCurrent $321.63M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.24M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.00M USD Point-in-time
Investment properties, net RealEstateInvestmentPropertyNet $22.67M USD Point-in-time
Investment properties, net RealEstateInvestmentPropertyNet $26.34M USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet $853.36K USD Point-in-time
Deferred tax assets DeferredIncomeTaxAssetsNet - USD Point-in-time
Investments in unconsolidated affiliates EquityMethodInvestments $12.75M USD Point-in-time
Investments in unconsolidated affiliates EquityMethodInvestments $14.32M USD Point-in-time
Other investments, net OtherInvestments $652.69K USD Point-in-time
Other investments, net OtherInvestments $712.98K USD Point-in-time
Goodwill Goodwill $1.24M USD Point-in-time
Goodwill Goodwill $1.86M USD Point-in-time
Total assets Assets $274.09M USD Point-in-time
Total assets Assets $366.95M USD Point-in-time
Promissory notes payable NotesPayableCurrent $1.57M USD Point-in-time
Promissory notes payable NotesPayableCurrent $1.44M USD Point-in-time
Amounts due to directors DueToOfficersOrStockholdersCurrent $480.11K USD Point-in-time
Amounts due to directors DueToOfficersOrStockholdersCurrent $525.40K USD Point-in-time
Accounts payable AccountsPayableCurrent $22.37M USD Point-in-time
Accounts payable AccountsPayableCurrent $25.12M USD Point-in-time
Customer deposits ContractWithCustomerRefundLiabilityCurrent $34.74M USD Point-in-time
Customer deposits ContractWithCustomerRefundLiabilityCurrent $126.18M USD Point-in-time
Amount due to an affiliate DueToAffiliateCurrent $49.25M USD Point-in-time
Amount due to an affiliate DueToAffiliateCurrent $20.49M USD Point-in-time
Other payables and accrued expenses AccruedLiabilitiesAndOtherLiabilities $8.82M USD Point-in-time
Other payables and accrued expenses AccruedLiabilitiesAndOtherLiabilities $7.59M USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $404.83K USD Point-in-time
Other taxes payable AccrualForTaxesOtherThanIncomeTaxesCurrent $255.18K USD Point-in-time
Dividends payables DividendsPayableCurrent $10.30M USD Point-in-time
Dividends payables DividendsPayableCurrent $10.30M USD Point-in-time
Income Taxes payable AccruedIncomeTaxesCurrent $1.85M USD Point-in-time
Income Taxes payable AccruedIncomeTaxesCurrent $683.96K USD Point-in-time
Total current liabilities LiabilitiesCurrent $128.28M USD Point-in-time
Total current liabilities LiabilitiesCurrent $194.09M USD Point-in-time
Long-term income tax payable AccruedIncomeTaxesNoncurrent $2.24M USD Point-in-time
Long-term income tax payable AccruedIncomeTaxesNoncurrent $1.08M USD Point-in-time
Total liabilities Liabilities $129.36M USD Point-in-time
Total liabilities Liabilities $196.33M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies 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, 2022 and 2021, 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, 2022 and 2021, respectively CommonStockValue $686.92K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $8.11M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $8.05M USD Point-in-time
Statutory reserve StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends $3.99M USD Point-in-time
Statutory reserve StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends $3.99M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $117.73M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $109.30M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $24.74M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $9.45M USD Point-in-time
Total equity of Sunrise Real Estate Group, Inc. StockholdersEquity $155.19M USD Point-in-time
Total equity of Sunrise Real Estate Group, Inc. StockholdersEquity $131.53M USD Point-in-time
Non-controlling interests MinorityInterest $13.21M USD Point-in-time
Non-controlling interests MinorityInterest $15.43M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $137.78M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $170.62M USD Point-in-time
Total stockholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $144.74M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $366.95M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $274.09M USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net revenues Revenues $54.14M USD Annual
Net revenues Revenues $80.02M USD Annual
Cost of revenues CostOfRevenue $70.56M USD Annual
Cost of revenues CostOfRevenue $41.23M USD Annual
Gross profit GrossProfit $9.46M USD Annual
Gross profit GrossProfit $12.91M USD Annual
Operating expenses OperatingCostsAndExpenses $3.42M USD Annual
Operating expenses OperatingCostsAndExpenses $3.03M USD Annual
General and administrative expenses GeneralAndAdministrativeExpense $3.30M USD Annual
General and administrative expenses GeneralAndAdministrativeExpense $8.55M USD Annual
Operating profit (loss) OperatingIncomeLoss $-2.12M USD Annual
Operating profit (loss) OperatingIncomeLoss $6.19M USD Annual
Interest income InvestmentIncomeInterest $936.11K USD Annual
Interest income InvestmentIncomeInterest $691.10K USD Annual
Interest expense InterestIncomeExpenseNet - USD Annual
Interest expense InterestIncomeExpenseNet $-651.09K USD Annual
Other income (loss) OtherNonoperatingIncomeExpense $41.30M USD Annual
Other income (loss) OtherNonoperatingIncomeExpense $-2.77M USD Annual
Total Other Income (Expenses) NonoperatingIncomeExpense $42.23M USD Annual
Total Other Income (Expenses) NonoperatingIncomeExpense $-2.73M USD Annual
Income (Loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $48.42M USD Annual
Income (Loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-4.85M USD Annual
Income taxes IncomeTaxExpenseBenefit $4.54M USD Annual
Income taxes IncomeTaxExpenseBenefit $2.14M USD Annual
Net income /(loss) ProfitLoss $-9.40M USD Annual
Net income /(loss) ProfitLoss $46.28M USD Annual
Less: Net (income) loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $11.24M USD Annual
Less: Net (income) loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-967.31K USD Annual
Net income (loss) attributable to stockholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $35.05M USD Annual
Net income (loss) attributable to stockholders of Sunrise Real Estate Group, Inc. NetIncomeLoss $-8.43M USD Annual
Earnings per share - basic EarningsPerShareBasic $0.51 USD Annual
Earnings per share - basic EarningsPerShareBasic $-0.12 USD Annual
Earnings per share - diluted EarningsPerShareDiluted $-0.12 USD Annual
Earnings per share - diluted EarningsPerShareDiluted $0.51 USD Annual
Weighted average common shares outstanding - Basic WeightedAverageNumberOfSharesOutstandingBasic 68.69M shares Annual
Weighted average common shares outstanding - Basic WeightedAverageNumberOfSharesOutstandingBasic 68.69M shares Annual
Weighted average common shares outstanding - Diluted WeightedAverageNumberOfDilutedSharesOutstanding 68.69M shares Annual
Weighted average common shares outstanding - Diluted WeightedAverageNumberOfDilutedSharesOutstanding 68.69M shares Annual
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-9.40M USD Annual
Net income (loss) ProfitLoss $46.28M USD Annual
Depreciation and amortization DepreciationDepletionAndAmortization $1.78M USD Annual
Depreciation and amortization DepreciationDepletionAndAmortization $4.28M USD Annual
Loss (gain) on disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-7.67K USD Annual
Loss (gain) on disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-27.56K USD Annual
Accounts receivable IncreaseDecreaseInAccountsReceivable $-13.26K USD Annual
Accounts receivable IncreaseDecreaseInAccountsReceivable $149.20K USD Annual
Net Cash from directors IncreaseDecreaseInNetCashFromDirectors $23.15M USD Annual
Net Cash from directors IncreaseDecreaseInNetCashFromDirectors $891.00 USD Annual
Real estate property under development IncreaseDecreaseInRealEstatePropertyUnderDevelopment $-44.76M USD Annual
Real estate property under development IncreaseDecreaseInRealEstatePropertyUnderDevelopment $8.46M USD Annual
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $-83.55M USD Annual
Customer deposits IncreaseDecreaseInContractWithCustomerLiability $7.20M USD Annual
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $-29.47M USD Annual
Amount due from unconsolidated affiliates IncreaseDecreaseDueFromAffiliates $43.32M USD Annual
Other receivables and deposits IncreaseDecreaseInOtherReceivablesAndDeposits $300.08K USD Annual
Other receivables and deposits IncreaseDecreaseInOtherReceivablesAndDeposits $-3.33M USD Annual
Deferred tax assets IncreaseDecreaseInDeferredTaxAssets $-808.12K USD Annual
Deferred tax assets IncreaseDecreaseInDeferredTaxAssets $-122.86K USD Annual
Dividends IncreaseDecreaseInDividendsReceivable - USD Annual
Dividends IncreaseDecreaseInDividendsReceivable $-901.26K USD Annual
Accounts payable IncreaseDecreaseInOtherAccountsPayable $4.14M USD Annual
Accounts payable IncreaseDecreaseInOtherAccountsPayable $-644.54K USD Annual
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $31.14K USD Annual
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $-502.64K USD Annual
Taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $-708.97K USD Annual
Taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $99.95K USD Annual
Other Tax payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $-57.58K USD Annual
Other Tax payable IncreaseDecreaseInPropertyAndOtherTaxesPayable $-119.40K USD Annual
Deferred government subsidy IncreaseDecreaseInDeferredGovernmentSubsidy $5.14M USD Annual
Deferred government subsidy IncreaseDecreaseInDeferredGovernmentSubsidy - USD Annual
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-19.04M USD Annual
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-13.17M USD Annual
Acquisition of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $109.05K USD Annual
Acquisition of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $190.15K USD Annual
Proceeds from disposal of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD Annual
Proceeds from disposal of plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD Annual
Capital injection to unconsolidated affiliates, net CapitalInjectionToUnconsolidatedAffiliates - USD Annual
Capital injection to unconsolidated affiliates, net CapitalInjectionToUnconsolidatedAffiliates - USD Annual
Acquisition of investment PaymentsForProceedsFromInvestments - USD Annual
Acquisition of investment PaymentsForProceedsFromInvestments - USD Annual
Transactional financial assets ProceedsFromTransactionalFinancialAssets $11.57M USD Annual
Transactional financial assets ProceedsFromTransactionalFinancialAssets $1.82M USD Annual
Dividend distribution of affiliates ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital $16.69M USD Annual
Dividend distribution of affiliates ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital - USD Annual
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $28.15M USD Annual
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $1.63M USD Annual
Advances from an affiliate ProceedsFromAffiliate - USD Annual
Advances from an affiliate ProceedsFromAffiliate - USD Annual
Dividends paid PaymentsOfDividends - USD Annual
Dividends paid PaymentsOfDividends $6.87M USD Annual
Restricted cash IncreaseDecreaseOnRestrictedCash $-23.76M USD Annual
Restricted cash IncreaseDecreaseOnRestrictedCash $15.46M USD Annual
Net cash (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-22.33M USD Annual
Net cash (used in) financing activities NetCashProvidedByUsedInFinancingActivities $23.76M USD Annual
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-2.24M USD Annual
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-3.91M USD Annual
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-8.30M USD Annual
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-15.47M USD Annual
Cash, cash equivalents, and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $33.20M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $24.90M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $40.37M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $33.20M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $24.90M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of year CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $40.37M USD Point-in-time
Income taxes paid IncomeTaxesPaid $345.10K USD Annual
Income taxes paid IncomeTaxesPaid $4.54M USD Annual
Interest paid InterestPaidNet - USD Annual
Interest paid InterestPaidNet $1.49M USD Annual
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $137.78M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $170.62M USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $144.74M USD Point-in-time
Profit (loss) for the year ProfitLosses $-9.40M USD Annual
Profit (loss) for the year ProfitLosses $45.80M USD Annual
Company Cancellation CompanyCancellation $45.29K USD Annual
Common stock issued to employees and consultants for services StockIssuedDuringPeriodValueIssuedForServices $480.00K USD Annual
Common stock issued to employees and consultants for services StockIssuedDuringPeriodValueIssuedForServices $60.00K USD Annual
Dividend distributions DividendsCommonStock $17.17M USD Annual
Translation of foreign operations OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $16.55M USD Annual
Translation of foreign operations OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax $-3.69M USD Annual
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $137.78M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $170.62M USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $144.74M USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income /(loss) ProfitLoss $-9.40M USD Annual
Net income /(loss) ProfitLoss $46.28M USD Annual
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $3.68M USD Annual
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-16.55M USD Annual
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-25.94M USD Annual
Total comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $49.97M USD Annual
Less: Comprehensive loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $13.16M USD Annual
Less: Comprehensive loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-2.22M USD Annual
Total comprehensive income (loss) attributable to stockholders of Sunrise Real Estate Group, Inc. ComprehensiveIncomeNetOfTax $-23.72M USD Annual
Total comprehensive income (loss) attributable to stockholders of Sunrise Real Estate Group, Inc. ComprehensiveIncomeNetOfTax $36.80M USD Annual

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

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