10-K
Annual Report
SUNRISE REAL ESTATE GROUP INC
SRRE
NONE
CIK: 1083490
File #: 000-32585
Balance Sheet
66 line items · 2 periods
XBRL
| Item | Dec 31, 2024 | Dec 31, 2023 |
|---|---|---|
CONSOLIDATED BALANCE SHEETS | ||
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 19,945,761 | 20,453,464 |
Restricted cash (Note 3) | 1,122,324 | 2,723,667 |
Transactional financial assets (Note 4) | 23,966,573 | 26,505,532 |
Wealth management investment products - Level 1 - Recurring | 7,372,801 | 10,167,965 |
Investment in transactional equity securities - Level 1 - Recurring | 16,593,772 | 16,337,459 |
Wealth management investment products - Recurring | 7,372,801 | 10,167,965 |
Level 1 - Recurring | 23,966,573 | 26,505,424 |
Investment in transactional equity securities - Recurring | 16,593,772 | 16,337,459 |
Recurring | 23,966,573 | 26,505,424 |
Bank wealth management investment products | 23,966,573 | 26,505,532 |
Accounts receivable, net | 328,427 | 552,964 |
Real estate property under development (Note 5) | 63,953,601 | 88,742,269 |
Amount due from unconsolidated affiliates (Note 9) | 15,964,637 | 16,203,433 |
Employees | 85,662 | 20,042 |
Other receivables and deposits, net (Note 6) | 8,249,209 | 9,321,913 |
Total current assets | 133,530,532 | 164,503,242 |
Property and equipment, net (Note 7) | 433,302 | 728,094 |
Investment properties, net (Note 8) | 26,721,490 | 28,910,575 |
Investments in unconsolidated affiliates (Note 9) | 13,381,808 | 13,091,335 |
SHTX | 27,823 | — |
Shanghai Da Er Wei Trading Company Limited ("SHDEW") | 12,326,253 | — |
Shanghai Da Er Wei Industry Co., Ltd.("DEWSY") | 544,761 | — |
Other investments, net (Note 10) | 632,373 | 641,810 |
ASU 2016-01 | 632,373 | 641,810 |
Total assets | 174,699,505 | 207,875,056 |
Operating Segments - Others | 37,620,032 | 40,334,398 |
Operating Segments - Real Estate Development | 90,606,276 | 116,436,604 |
Operating Segments - Property Brokerage Services | 8,492,443 | 10,865,377 |
Operating Segments - Investment Transaction | 37,980,754 | 40,238,677 |
Operating Segments | 174,699,505 | 207,875,056 |
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) | ||
Current liabilities | ||
Promissory notes payable (Note 11) | 1,391,130 | 1,411,891 |
Directors | 743,387 | 472,104 |
Affiliated Entity | 33,823,253 | 32,068,741 |
SHSJ, a shareholder of HATX | 33,330,341 | — |
JXSY | 492,912 | — |
Accounts payable (Note13) | 16,871,500 | 24,885,181 |
Customer deposits (Note 14) | 17,502,037 | 23,318,011 |
HATX project | 13,562,460 | — |
Linyi project | 3,912,014 | — |
Other payables and accrued expenses (Note 16) | 7,109,119 | 7,352,352 |
Other taxes payable | 278,236 | 247,516 |
Income Taxes payable (Note 17) | 6,105 | 1,926,888 |
Total current liabilities | 77,724,767 | 91,682,684 |
Total liabilities | 77,724,767 | 91,682,684 |
Stockholders' equity | ||
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, 2024 and 2023, respectively | 686,919 | 686,919 |
Additional paid-in capital | 8,110,008 | 8,110,008 |
Statutory reserve (Note 18) | 3,893,120 | 3,986,618 |
PRC subsidiary | 3,893,120 | — |
Retained earnings | 90,363,630 | 99,169,737 |
Accumulated other comprehensive income | 6,095,427 | 7,311,786 |
Total equity of Sunrise Real Estate Group, Inc. | 109,149,104 | 119,265,068 |
Non-controlling interests | (12,174,366) | (3,072,696) |
Total stockholders' equity | 96,974,738 | 116,192,372 |
Retained Earnings (Deficits) | 90,363,630 | 99,169,737 |
Non-controlling Interests | (12,174,366) | (3,072,696) |
Additional Paid-in Capital | 8,110,008 | 8,110,008 |
Accumulated Other Comprehensive Income | 6,095,427 | 7,311,786 |
Statutory Reserve | 3,893,120 | 3,986,618 |
Common Stock | 686,919 | 686,919 |
Total liabilities and stockholders' equity | 174,699,505 | 207,875,056 |