Sunrise Real Estate Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020
December 29, 2020 at 12:03 pm EST
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Sunrise Real Estate Group, Inc. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was USD 349,105 compared to USD 32.163 million a year ago. Operating loss was USD 2.099 million compared to operating Income of USD 93,545 a year ago. Net loss was USD 1.601 million compared to net income of USD 2.747 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.04 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. 
