10-Q
Quarterly Report
SUNRISE REAL ESTATE GROUP INC
SRRE
NONE
CIK: 1083490
File #: 000-32585
Balance Sheet
60 line items · 2 periods
XBRL
| Item | Mar 31, 2025 | Dec 31, 2024 |
|---|---|---|
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 16,563,578 | 19,945,761 |
Restricted cash (Note 3) | 773,025 | 1,122,324 |
Transactional financial assets (Note 4) | 19,928,654 | 23,966,573 |
Bank wealth management investment products | 19,928,654 | — |
Accounts receivable, net | 6,556,034 | 328,427 |
Real estate property under development (Note 5) | 54,879,667 | 63,953,601 |
Amount due from an unconsolidated affiliate (Note 9) | 15,987,758 | 15,964,637 |
Employees | 127,966 | 85,662 |
Other receivables and deposits, net (Note 6) | 7,258,970 | 8,249,209 |
Total current assets | 121,947,686 | 133,530,532 |
Property and equipment, net (Note 7) | 397,398 | 433,302 |
Investment properties, net (Note 8) | 26,317,840 | 26,721,490 |
Investment in an unconsolidated affiliate (Note 9) | 13,400,823 | 13,381,808 |
SHTX | 27,862 | — |
Shanghai Da Er Wei Trading Company Limited ("SHDEW") | 12,343,768 | — |
DEWSY | 545,535 | — |
Other investments (Note 10) | 633,272 | 632,373 |
ASU 2016-01 | 633,272 | 632,373 |
Total assets | 162,697,019 | 174,699,505 |
Operating Segments - Others | 30,621,392 | — |
Operating Segments - Real Estate Development | 87,336,526 | — |
Operating Segments - Property Management | 10,776,352 | — |
Operating Segments - Investment Transaction | 33,962,749 | — |
Operating Segments | 162,697,019 | — |
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) | ||
Current liabilities | ||
Promissory notes payable (Note 12) | 1,393,107 | 1,391,130 |
Directors | 744,444 | 743,387 |
Affiliated Entity | 27,320,026 | 33,823,253 |
SHSJ, a shareholder of HATX | 26,826,664 | — |
JXSY | 493,362 | — |
Accounts payable (Note 15) | 14,404,920 | 16,871,500 |
Customer deposits (Note 17) | 17,163,463 | 17,502,037 |
HATX project | 13,905,586 | — |
Linyi project | 3,225,199 | — |
Other payables and accrued expenses (Note 14) | 7,033,021 | 7,109,119 |
Other taxes payable | 249,245 | 278,236 |
Income taxes payable (Note 18) | 1,884 | 6,105 |
Total current liabilities | 68,310,110 | 77,724,767 |
Total liabilities | 68,310,110 | 77,724,767 |
Shareholders' equity | ||
Common stock, par value $0.01 per share; 200,000,000 shares Authorized; 68,691,925 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | 686,919 | 686,919 |
Additional paid-in capital | 8,110,008 | 8,110,008 |
Statutory reserve (Note 20) | 3,893,120 | 3,893,120 |
PRC subsidiary | 3,893,120 | 3,893,120 |
Retained Earnings | 89,449,016 | 90,363,630 |
Accumulated other comprehensive income | 5,771,892 | 6,095,427 |
Total Equity of Sunrise Real Estate Group, Inc. | 107,910,955 | 109,149,104 |
Non-controlling interests | (13,524,046) | (12,174,366) |
Total shareholders' equity | 94,386,909 | 96,974,738 |
Retained Earnings (Deficits) | 89,449,016 | 90,363,630 |
Non-controlling Interests | (13,524,046) | (12,174,366) |
Additional Paid-in Capital | 8,110,008 | 8,110,008 |
Accumulated Other Comprehensive Income | 5,771,892 | 6,095,427 |
Statutory Reserve | 3,893,120 | 3,893,120 |
Common Stock | 686,919 | 686,919 |
Total liabilities and shareholders' equity | 162,697,019 | 174,699,505 |