Sunrise Real Estate Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 17, 2023 at 06:04 am EDT
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Sunrise Real Estate Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 7.04 million compared to USD 34.64 million a year ago. Net income was USD 0.341995 million compared to USD 1.42 million a year ago.
For the six months, sales was USD 12.78 million compared to USD 45.88 million a year ago. Net loss was USD 1.31 million compared to USD 0.447257 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.01 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. 
