Sunrise Real Estate Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 15, 2022 at 04:30 pm EDT
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Sunrise Real Estate Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 34.64 million compared to USD 5.91 million a year ago. Net income was USD 1.42 million compared to USD 32.31 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to USD 0.47 a year ago.
For the six months, sales was USD 45.88 million compared to USD 8.37 million a year ago. Net loss was USD 0.447257 million compared to net income of USD 30.86 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.45 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. 
