Sunrise Real Estate Group, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
July 31, 2020 at 06:38 am EDT
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Sunrise Real Estate Group, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 724,827 compared to USD 1.664 million a year ago. Operating loss was USD 2.308 million compared to USD 328,636 a year ago. Net loss was USD 1.856 million compared to net income of USD 32.384 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 0.47 a year ago. For the nine months, sales was USD 32.424 million compared to USD 5.162 million a year ago. Operating loss was USD 4.321 million compared to USD 1.128 million a year ago. Net income was USD 62,596 compared to USD 60.822 million a year ago. Basic eps - continuing operations was USD 0 compared to USD 0.89 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. 
