Sunrise Real Estate Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2019
June 17, 2020 at 03:17 pm EDT
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Sunrise Real Estate Group, Inc. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced sales was USD 32.163 million compared to USD 1.578 million a year ago. Operating income was USD 93,545 compared to operating loss of USD 783,319 a year ago. Net income was USD 2.747 million compared to USD 21.180 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to USD 0.31 a year ago.
Sunrise Real Estate Group, Inc. is engaged in the provision of property brokerage services. The Company's segments are Property Brokerage Services, Real Estate Development and Corporate. The Company operates in the People's Republic of China (PRC). The Company's services include property marketing, leasing and management services, and real estate development. The real estate property under development consists of residential unit sites, and commercial and residential unit sites under development. The real estate property under development represents the Company's real estate development project in Linyi, the PRC (Linyi Project), which is located on the junction of Xiemen Road and Hong Kong Road in Linyi City Economic Development Zone, Shandong Province, PRC. The project covers a site area of approximately 103,385 square meters for the development of villa-style residential housing buildings. The Company leases its office properties under non-cancellable operating lease arrangements.
SUNRISE REAL ESTATE GROUP, INC. 
