Sunrise Real Estate Group, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
January 28, 2021 at 01:23 pm EST
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Sunrise Real Estate Group, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 388,298 compared to USD 60,449 a year ago. Operating loss was USD 2.036 million compared to USD 2.126 million a year ago. Net loss was USD 1.208 million compared to USD 804,797 a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.01 a year ago. For the half year, sales was USD 721,983 compared to USD 32.033 million a year ago. Operating loss was USD 4.043 million compared to USD 2.033 million a year ago. Net loss was USD 2.736 million compared to net income of USD 1.939 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to basic earnings per share from continuing operations of USD 0.03 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. 
