10-Q
Quarterly Report
SUNRISE REAL ESTATE GROUP INC
SRRE
NONE
CIK: 1083490
File #: 000-32585
Balance Sheet
64 line items · 2 periods
XBRL
| Item | Jun 30, 2025 | Dec 31, 2024 |
|---|---|---|
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) | ||
ASSETS | ||
Current assets | ||
Cash and cash equivalents | 16,197,325 | 19,945,761 |
Restricted cash (Note 3) | 760,941 | 1,122,324 |
Transactional financial assets (Note 4) | 21,412,573 | 23,966,573 |
Bank wealth management investment products | 21,412,573 | — |
Accounts receivable | 7,932,660 | 328,427 |
Real estate property under development (Note 5) | 55,803,692 | 63,953,601 |
Amount due from an unconsolidated affiliate | 16,729,556 | 15,964,637 |
Employees | 137,741 | 85,662 |
Other receivables and deposits, net (Note 6) | 5,806,504 | 8,249,209 |
Total current assets | 124,643,251 | 133,530,532 |
Property and equipment, net (Note 7) | 362,476 | 433,302 |
Investment properties, net (Note 8) | 25,947,067 | 26,721,490 |
Investment in an unconsolidated affiliate (Note 9) | 13,508,892 | 13,381,808 |
SHZYT | 278,179 | — |
SHSFM | 35,243 | — |
SHTX | 27,938 | — |
SHMTH | 88,107 | — |
SHAY | 154,831 | — |
Shanghai Da Er Wei Trading Company Limited ("SHDEW") | 12,377,565 | — |
DEWSY | 547,029 | — |
Other investments (Note 10) | 635,005 | 632,373 |
ASU 2016-01 | 635,005 | 632,373 |
Total assets | 165,096,691 | 174,699,505 |
Operating Segments - Others | 30,626,098 | — |
Operating Segments - Real Estate Development | 87,496,760 | — |
Operating Segments - Property Brokerage Services | 11,417,363 | — |
Operating Segments - Investment Transaction | 35,556,470 | — |
Operating Segments | 165,096,691 | — |
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) | ||
Current liabilities | ||
Promissory notes payable (Note 11) | 1,396,921 | 1,391,130 |
Accounts payable (Note 14) | 14,445,618 | 16,871,500 |
Directors | 746,483 | 743,387 |
Affiliated Entity | 27,844,139 | 33,823,253 |
SHSJ, a shareholder of HATX | 27,349,426 | — |
JXSY | 494,713 | — |
Customer deposits (Note 16) | 16,576,909 | 17,502,037 |
HATX project | 13,295,317 | — |
Linyi project | 3,262,595 | — |
Other payables and accrued expenses (Note 13) | 7,088,214 | 7,109,119 |
Other taxes payable | 88,175 | 278,236 |
Income taxes payable (Note 17) | 1,581 | 6,105 |
Total current liabilities | 68,188,040 | 77,724,767 |
Total liabilities | 68,188,040 | 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 June 30, 2025 and December 31, 2024, respectively | 686,919 | 686,919 |
Additional paid-in capital | 8,110,008 | 8,110,008 |
Statutory reserve (Note 19) | 3,893,120 | 3,893,120 |
PRC subsidiary | 3,893,120 | 3,893,120 |
Retained Earnings | 91,270,647 | 90,363,630 |
Accumulated other comprehensive income | 6,594,386 | 6,095,427 |
Total equity of Sunrise Real Estate Group, Inc. | 110,555,080 | 109,149,104 |
Non-controlling interests | (13,646,429) | (12,174,366) |
Total shareholders' equity | 96,908,651 | 96,974,738 |
Retained Earnings (Deficits) | 91,270,647 | 90,363,630 |
Non-controlling Interests | (13,646,429) | (12,174,366) |
Additional Paid-in Capital | 8,110,008 | 8,110,008 |
Accumulated Other Comprehensive Income | 6,594,386 | 6,095,427 |
Statutory Reserve | 3,893,120 | 3,893,120 |
Common Stock | 686,919 | 686,919 |
Total liabilities and shareholders' equity | 165,096,691 | 174,699,505 |