Sunrise Real Estate Group Stock

Sunrise Real Estate Group, Inc. and its subsidiaries (SRRE) provide real estate development and property brokerage services, including real estate marketing services, property leasing services; and property management services in the People’s Republic of China (PRC).

SRRE operates through its wholly owned subsidiaries, Sunrise Real Estate Development Group, Inc. (Cayman Islands) (CY-SRRE) and LIN RAY YANG Enterprise Ltd. (LRY). CY-SRRE and LRY do not have operations themselves but conduct operations in Mainland China through their respective subsidiaries that are based in the PRC. CY-SRRE operates through its wholly owned subsidiary, Shanghai Xin Ji Yang Real Estate Consultation Company Limited (SHXJY). LRY operates through its wholly owned subsidiaries, Shanghai Shang Yang Investment Management and Consulting Company Limited (SHSY). SHXJY and SHSY are property agency business earning commission revenue from marketing and sales services to developers.

The company’s major business is real estate agency sales, real estate marketing services, real estate investments, property leasing services, property management services, and real estate development in the PRC. Additionally, the company has expanded its business to financial activities, such as entity investment, fund management, and financial services.

The company has focused its sales on the entire China market, with a particular focus on the second-tier cities. To expand its business agencies, the company has established subsidiaries and branches in Shanghai, Suzhou and Wuhan.

SHDEW was established in June 2013 as a skincare and cosmetic company. The company owns 19.91% of the common stock of Shanghai Da Er Wei Trading Company Limited (SHDEW) through its subsidiaries SHSY and Linyi Ruilin Consulting and Design Co., Ltd (LYRL). The company has made progress in its operations, becoming an ecommerce business with its own app. SHDEW is developing its own skincare products, as well as solidifying its position in the ecommerce platform.

The company’s main operating subsidiary, SHSY, has real estate developments for residential properties, as well as property management and leasing. The company also has developed a network of landowners and developers, allowing it to explore opportunities in property investments.

Real Estate Development

In October 2011, the company established Linyi Shang Yang Real Estate Consultation Company Limited (LYSY) and owned 34% of LYSY. During the first quarter of 2012, the company acquired approximately 103,385 square meters for the purpose of developing villa-style residential housing. The LYSY project has divided into three phases at this moment. Phase 1 had completed construction of 121 units in May 2015 and sold 119 units out of all 121 units as of March 15, 2023. Phase 2 was divided into north and south area and completed construction of 84 units at the end of 2020. all 88 units have been sold during phase 2 as of March 15, 2023. Phase 3 began construction in first quarter of 2021, and pre-sold 23 units out of 51 units in Phase 3 as of March 15, 2023.

In 2018, Huai’an Tianxi Real Estate Development Co., Ltd (HATX) purchased the property in Huai’an, Qingjiang Pu district with an area of 78,030 square meters (sqm). In 2018, the company established HAZB with a 78.46% ownership for the purpose of real estate investment, and in March 2019, Huaian Zhanbao Industrial Co., Ltd. (HAZB) purchased 100% of HATX and its land usage rights to the Huai’an property. The Huai’an project, named Tianxi Times, started its first phase development in early 2019 with a gross floor area (GFA) of 82,218 sqm totaling 679 units, and started its second phase in 2020 with a gross floor area (GFA) of 99,123 sqm totaling 873 units. As of March 15, 2023, the company sold 669 units, respectively, out of 679 units of the first phase and sold and pre-sold 177 and 266 units out of 873 of the second phase.

Property Management and Leasing

The company has two floors of office space encompassing 5,152 square meters in Huilong Tower in Suzhou. The company manages these two floors to lease out to prospective tenants.

The company also leases for the unsold units of the GXL project. Total leasing area for the GXL building is 3,611 square meters.

History

The company was founded in 1996. It was incorporated in Texas in 1996. The company was formerly known as Sunrise Real Estate Development Group, Inc. and changed its name to Sunrise Real Estate Group, Inc. in 2006.