Sunrise Real Estate (SRRE) 10-K30 Apr 212020 FY Annual reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2020	Apr. 30, 2021	Jun. 24, 2020
Document And Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2020
Entity Registrant Name	SUNRISE REAL ESTATE GROUP INC
Entity Current Reporting Status	No
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		68,691,925
Entity Central Index Key	0001083490
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Amendment Flag	false
Trading Symbol	SRRE
Title of 12(b) Security	Common stock, par value $0.01 per share
Security Exchange Name	NONE
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$ 8,434,141.65

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 40,369,612	$ 15,900,753
Restricted cash (Note 3)	56,051,055	8,383,359
Transactional financial assets (Note 4)	25,012,736	27,818,996
Accounts receivable	77,464	24,407
Real estate property under development (Note 5)	166,236,339	85,909,986
Amount due from unconsolidated affiliates (Note 9)	549,986	257,633
Other receivables and deposits, net (Note 6)	14,596,243	7,535,801
Total current assets	302,893,435	145,830,935
Property and equipment, net (Note 7)	1,384,776	1,203,850
Investment properties, net (Note 8)	27,275,677	26,949,046
Deferred tax assets	955,373	380,627
Investments in unconsolidated affiliates (Note 9)	13,610,330	12,775,441
Other investments, net (Note 10)	696,677	143,345
Goodwill (Note 11)	1,690,029	0
Total assets	348,506,297	187,283,244
Current liabilities
Promissory notes payable (Note 12)	1,532,591	1,433,445
Amounts due to directors (Note 13)	23,409,364	1,472,995
Accounts payable (Note 14)	20,448,001	4,347,678
Customer deposits (Note 15)	116,163,946	21,702,494
Amount due to an affiliate (Note 16)	31,438,576	504,802
Other payables and accrued expenses (Note 17)	8,586,675	14,531,098
Other taxes payable	452,528	382,209
Income Taxes payable (Note 18)	1,028,220	1,037,349
Total current liabilities	203,059,901	45,412,070
Long-term income tax payable (Note 18)	2,588,213	2,933,308
Deferred government subsidy (Note 19)	5,079,835	4,751,214
Total liabilities	210,727,949	53,096,592
Commitments and contingencies (Note 21)
Stockholders' equity
Common stock, par value $0.01 per share; 200,000,000 shares Authorized; 68,691,925 and 68,691,925 shares issued and outstanding as of December 31, 2020 and 2019, respectively	686,919	686,919
Additional paid-in capital	7,570,008	7,570,008
Statutory reserve (Note 20)	3,986,618	3,194,604
Retained Earnings	100,291,529	105,326,252
Accumulated other comprehensive income	22,981,737	13,676,579
Total equity of Sunrise Real Estate Group, Inc.	135,516,811	130,454,362
Non-controlling interests	2,261,537	3,732,290
Total stockholders' equity	137,778,348	134,186,652
Total liabilities and stockholders' equity	$ 348,506,297	$ 187,283,244

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	68,691,925	68,691,925
Common stock, shares outstanding	68,691,925	68,691,925

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF OPERATIONS
Net revenues	$ 5,891,567	$ 32,989,778
Cost of revenues	(5,352,210)	(26,811,115)
Gross profit	539,357	6,178,663
Operating expenses	(3,699,065)	(3,080,061)
General and administrative expenses	(24,624,930)	(10,047,005)
Operating profit (loss)	(27,784,638)	(6,948,403)
Other income (expenses)
Interest income	582,788	151,760
Interest expense	48	0
Other income (loss)	25,186,060	1,892,762
Total Other Income (Expenses)	25,768,800	2,044,522
Income (loss) before income taxes	(2,015,838)	(4,903,881)
Income taxes (Note 18)	(2,226,871)	384,046
Net income	(4,242,709)	(4,519,835)
Less: Net (income) loss attributable to non-controlling interests	141,651	2,765,035
Net income attributable to shareholders of Sunrise Real Estate Group, Inc.	$ (4,242,709)	$ (1,754,800)
Earnings per share - basic and fully diluted	$ (0.06)	$ (0.03)
Weighted average common shares outstanding - Basic and fully diluted	68,691,925	68,691,925

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income (loss)	$ (4,242,709)	$ (4,519,835)
Foreign currency translation adjustment	7,834,405	72,714
Discontinuation of the equity method for an investment	0	21,003,196
Total comprehensive income (loss)	3,591,696	16,556,075
Less: Comprehensive income attributable to non-controlling interests	1,470,753	(1,844,096)
Total comprehensive income attributable to stockholders of Sunrise Real Estate Group, Inc.	$ 5,062,449	$ 14,711,979

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-in Capital	Statutory Reserve	Retained Earnings (Deficits)	Accumulated Other Comprehensive Income	Non-controlling Interests	Total
Balance at Dec. 31, 2018	$ 686,919	$ 7,570,008	$ 3,194,604	$ 106,727,897	$ (2,790,200)	$ 1,888,194	$ 117,277,423
Balance (in shares) at Dec. 31, 2018	68,691,925
Profit (loss) for the year	$ 0	0	0	(1,754,800)	0	(2,765,035)	(4,519,835)
Company purchase				353,155			353,155
Discontinuation of the equity method for an investment					21,003,196		21,003,196
Capital contribution from non-controlling interests of new consolidated subsidiaries							0
Translation of foreign operations					(4,536,417)	4,609,131	72,714
Balance at Dec. 31, 2019	$ 686,919	7,570,008	3,194,604	105,326,252	13,676,579	3,732,290	134,186,652
Balance (in shares) at Dec. 31, 2019	68,691,925
Profit (loss) for the year	$ 0	0	0	(4,242,709)	0	0	(4,242,709)
Company purchase	0	0	0	0	0	0	0
Discontinuation of the equity method for an investment							0
Capital contribution from non-controlling interests of new consolidated subsidiaries			792,014	(792,014)			0
Translation of foreign operations					9,305,158	(1,470,753)	7,834,405
Balance at Dec. 31, 2020	$ 686,919	$ 7,570,008	$ 3,986,618	$ 100,291,529	$ 22,981,737	$ 2,261,537	$ 137,778,348
Balance (in shares) at Dec. 31, 2020	68,691,925

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income (loss)	$ (4,242,709)	$ (4,519,835)
Adjustments to reconcile net income (loss) to net cash used in operating activities
Depreciation and amortization	2,546,065	1,674,980
Loss (gain) on disposal of property and equipment	14,892	19,961
Bad debts	0	2,516,286
Equity in net loss (gain) of unconsolidated affiliates	(23,869,057)	0
Changes in assets and liabilities
Accounts receivable	(48,464)	208,780
Net cash from directors	20,599,747	(269,369)
Real estate property under development	(70,177,884)	(47,252,768)
Customer Deposits	87,703,469	(18,570,712)
Amount due from unconsolidated affiliates	4,785,080	3,019,435
Other receivables and deposits	(6,169,429)	1,111,182
Deferred tax assets	(517,406)	(385,473)
Accounts payable	14,906,144	(846,057)
Other payables and accrued expenses	(6,556,485)	13,789,573
Taxes payable	(421,399)	(21,909)
Other taxes payable	41,402	173,361
Net cash provided by (used in) operating activities	18,593,966	(49,352,565)
Cash flows from investing activities
Acquisition of property, plant and equipment	(355,886)	(288,496)
Proceeds from disposal of property and equipment	45,980	0
Capital injection to unconsolidated affiliates, net	(543,418)	0
Acquisition of investment	(1,412,529)	0
Transactional financial assets	4,462,880	21,096,379
Dividend distribution of affiliates	23,869,057	39,151,920
Net cash provided by investing activities	26,066,084	59,959,803
Cash flows from financing activities
Advances from an affiliate	24,107,439	0
Dividends paid	0	(6,869,193)
Restricted cash	(44,425,035)	(6,944,799)
Net cash (used in) financing activities	(20,317,596)	(13,813,992)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	126,405	1,451,342
Net increase (decrease) in cash, cash equivalents and restricted cash	24,468,859	(1,755,412)
Cash, cash equivalents, and restricted cash at beginning of year	15,900,753	17,656,165
Cash, cash equivalents, and restricted cash at end of year	40,369,612	15,900,753
Supplemental disclosure of cash flow information
Income taxes paid	3,096,666	7,593
Interest paid	$ 0	$ 0

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	12 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS	Dec. 31, 2020
ORGANIZATION AND DESCRIPTION OF BUSINESS
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS Sunrise Real Estate Group, Inc. (“ SRRE ”) and its subsidiaries (collectively referred to as “the Company”, “our” or “us”) was incorporated in Texas on October 10, 1996, under the name of Parallax Entertainment, Inc. (“ Parallax ”). On December 12, 2003, Parallax changed its name to Sunrise Real Estate Development Group, Inc. On April 25, 2006, Sunrise Estate Development Group, Inc. filed Articles of Amendment with the Texas Secretary of State, changing its name to Sunrise Real Estate Group, Inc., effective May 23, 2006. As of December 31, 2020, the Company has the following major subsidiaries and equity investments. % of Ownership Relationship Date of Place of held by the with the Company Name Incorporation Incorporation Company Company Principal activity Sunrise Real Estate Development Group, Inc. (“CY-SRRE”) April 30, 2004 Cayman Islands 100 % Subsidiary Investment holding Lin Ray Yang Enterprise Limited (“LRY”) November 13, 2003 British Virgin Islands 100 % Subsidiary Investment holding Shanghai XinJi Yang Real Estate Consultation Company Limited (“SHXJY”) August 20, 2001 PRC 100 % Subsidiary Property brokerage services Shanghai Shang Yang Investment Management Consultation Company Limited (“SHSY”) February 5, 2004 PRC 100 % Subsidiary Property brokerage services Suzhou Shang Yang Real Estate Consultation Company Limited (“SZSY”) November 24, 2006 PRC 75.25 % 1 Subsidiary Property brokerage and management services Suzhou Xi Ji Yang Real Estate Consultation Company Limited (“SZXJY”) June 25, 2004 PRC 75 % Subsidiary Property brokerage services Linyi Shangyang Real Estate Development Company Limited (“LYSY”) October 13, 2011 PRC 34 % 2 Subsidiary Real estate development Wuhan GaoFengHui Consultation Company Limited (“WHGFH”) November 10, 2010 PRC 60 % Subsidiary Property brokerage services Sanya Shang Yang Real Estate Consultation Company Limited (“SYSY”) September 18, 2008 PRC 100 % Subsidiary Property brokerage services Shanghai RuiJian Design Company Limited (“SHRJ”) August 15, 2011 PRC 100 % Subsidiary Property brokerage services Linyi Rui Lin Construction and Design Company Limited (“LYRL”) March 6, 2012 PRC 100 % Subsidiary Investment holding Shanghai XinJi Yang Real Estate Brokerage Company Limited (“SHXJYB”) January 28, 2013 PRC 75 % 3 Subsidiary Property brokerage services Wuhan Yuan Yu Long Real Estate Development Company Limited (“WHYYL”) December 28, 2009 PRC 49 % Equity investment Real estate development Zhong Ji Pu Fa Real Estate Company Limited (“SHGXL”) March 13, 2014 PRC 100 % Property development, leasing Shanghai Da Er Wei Trading Company Limited (“SHDEW”) June 6, 2013 PRC 19.91 % 4 Equity investment Import and export trading Shanghai HuiTian (“SHHT”) July 25, 2014 PRC 100 % Subsidiary Investment holding Huai’an Zhanbao Industrial Co., Ltd December 6, 2018 PRC 78.46 % Subsidiary Investment holding Huai’an Tianxi Real Estate Development Co., Ltd October 17, 2018 PRC 78.46 % Subsidiary Real estate development 1. After an equity transaction in February 2015, the Company held equity in subsidiaries of SZSY as follows: SZXJY 49%, SHXJY 26% and Sunrise Real Estate Development Group, Inc. (CY-SRRE) 12.5%, totaling 75.25% equity interest in SZSY. 2. The Company and a shareholder of LYSY, who holds 46% equity interest in LYSY, entered into a voting agreement that the Company is entitled to exercise the voting rights in respect of her 46% equity interest in LYSY. The Company effectively holds 80% voting rights in LYSY and therefore considers LYSY as a subsidiary of the Company. On May 27, 2020, LYRL received 10% of the issued and outstanding shares of LYSY from Nanjing Longchang Real Estate Development Group. LYRL owned 34% of LYSY following the purchase. 3. On January 28, 2013, CY-SRRE, SZXJY and an unrelated party established a subsidiary in the PRC, SHXJYB, with CY-SRRE holding 15% equity interest and SZXJY holding 60% equity interest in SHXYJB. 4. In December 2019, SHDEW had an employee stock bonus where its employees received their issued shares. This resulted in the dilution of our ownership of SHDEW from 20.38% to 19.91%. CY-SRRE was established in the Cayman Islands on April 30, 2004 as a limited liability company. CY-SRRE was wholly owned by Ace Develop Properties Limited (“Ace Develop”), a corporation, of which Lin Chi-Jung, an individual, is the principal and controlling shareholder. SHXJY was established in the People’s Republic of China (“PRC”) on August 20, 2001 as a limited liability company. SHXJY was originally owned by a Taiwanese company, of which the principal and controlling shareholder was Lin Chi-Jung. On June 8, 2004, all the fully paid up capital of SHXJY was transferred to CY-SRRE. On June 25, 2004, SHXJY and two individuals established a subsidiary, SZXJY in the PRC, at which point in time, SHXJY held a 90% equity interest in SZXJY. On August 9, 2005, SHXJY sold 10% equity interest in SZXJY to a company owned by a director of SZXJY and transferred 5% equity interest in SZXJY to CY-SRRE. Following the disposal and the transfer, CY-SRRE effectively held 80% equity interest in SZXJY. LRY was established in the British Virgin Islands on November 13, 2003 as a limited liability company. LRY was owned by Ace Develop, Planet Technology Corporation (“Planet Tech”) and Systems & Technology Corporation (“Systems Tech”). On February 5, 2004, LRY established a wholly owned subsidiary, SHSY in the PRC as a limited liability company. On August 31, 2004, SRRE, CY-SRRE and Lin Chi-Jung, an individual and agent for the beneficial shareholder of CY-SRRE, i.e., Ace Develop, entered into an exchange agreement under which SRRE issued 5,000,000 shares of common stock to the beneficial shareholder or its designees, in exchange for all outstanding capital stock of CY-SRRE. The transaction was closed on October 5, 2004. Lin Chi-Jung was Chairman of the Board of Directors of SRRE, the President of CY-SRRE and the principal and controlling shareholder of Ace Develop. Also on August 31, 2004, SRRE, LRY and Lin Chi-Jung, an individual and agent for beneficial shareholders of LRY, i.e., Ace Develop, Planet Tech and SystemsTech, entered into an exchange agreement under which SRRE issued 10,000,000 shares of common stock to the beneficial shareholders, or their designees, in exchange for all outstanding capital stock of LRY. The transaction was closed on October 5, 2004. Lin Chi-Jung was Chairman of the Board of Directors of SRRE, the President of LRY and the principal and controlling shareholder of Ace Develop. Regarding the 10,000,000 shares of common stock of SRRE issued in this transaction, SRRE issued 8,500,000 shares to Ace Develop, 750,000 shares to Planet Tech and 750,000 shares to Systems Tech. As a result of the acquisition, the former owners of CY-SRRE and LRY hold a majority interest in the combined entity. Generally accepted accounting principles require in certain circumstances that a company whose shareholders retain the majority voting interest in the combined business be treated as the acquirer for financial reporting purposes. Accordingly, the acquisition has been accounted for as a “reverse acquisition” arrangement whereby CY-SRRE and LRY are deemed to have purchased SRRE. However, SRRE remains the legal entity and the Registrant for Securities and Exchange Commission reporting purposes. All shares and per share data prior to the acquisition have been restated to reflect the stock issuance as a recapitalization of CY-SRRE and LRY. On January 10, 2005, LRY and a PRC third party established a subsidiary, SZGFH, a limited liability company in the PRC, with LRY holding 80% of the equity interest in SZGFH. On May 8, 2006, LRY acquired 20% of the equity interest in SZGFH from the third party. Following the acquisition, LRY effectively held 100% of the equity interest in SZGFH. The Company sold SZGFH in 2017. On November 24, 2006, CY-SRRE, SHXJY, a shareholder of SZXJY and a third party established a subsidiary, SZSY in the PRC, with CY-SRRE holding 12.5% equity interest, SHXJY holding 26% equity interest and the shareholder of SZXJY holding 12.5% equity interest in SZSY. At the date of incorporation, SRRE and the shareholder of SZXJY entered into a voting agreement that SRRE is entitled to exercise the voting right in respect of its 12.5% equity interest in SZSY. Following that, SRRE effectively holds 51% of the voting rights in SZSY. On September 24, 2007, CY-SRRE sold 5% equity interest in SZXJY to a company owned by a director of SZXJY. Following the disposal, CY-SRRE effectively holds 75% equity interest in SZXJY. In October 2011, SHXJY purchased 24% interest in Linyi Shang Yang Real Estate Consultation Company Limited (“ LYSY ”) and acquired approximately 103,385 square meters of land for the purpose of developing the land into villa-style residential housing. On March 6, 2012, SHXJY established a wholly-owned subsidiary, namely Linyi Rui Lin Construction and Design Company Limited (" LYRL "). SHXJY's 24% equity interest in LYSY was then transferred to LYRL. On May 27, 2020, LYRL received 10% of the issued and outstanding shares of LYSY from Nanjing Longchang Real Estate Development Group. LYRL owned 34% of LYSY following the purchase. The Company and a shareholder of LYSY, Zhang Shu Qin, who holds 46% equity interest in LYSY, entered into a voting agreement that the Company is entitled to exercise the voting rights in respect of her 46% equity interest in LYSY. The Company effectively holds 80% voting rights in LYSY and therefore considers LYSY as a subsidiary of the Company. On March 6, 2012, SHXJY established a subsidiary in the PRC - LYRL. The equity interest in LYRL is held by three Chinese individuals in trust for SHXJY. At the date of its incorporation, SHXJY transferred its 24% equity interest in LYSY to LYRL. On August 2014, all the equity interest in LYRL was transferred to SHRJ. On June 6, 2013, SHSY and LYRL together with 4 investors established a company, Shanghai Daerwei (“SHDEW”), in the PRC focusing on the cosmetics and skincare business. SHSY holds 12.6% equity interest and LYRL holds 7.3% equity interest in SHDEW. As the Company does not have significant influence in SHDEW , we adopted the alternative measurement accounting method for the SHDEW investment. On July 25, August 19 and October 15, 2014 respectively, the Company established three investment holding company separately, namely SHHT, SHSYTX and SZSYHT. These three companies were wholly owned subsidiary to the Company and have not commenced their operations. In the year 2017, SHSYTX has transferred its shares of 76.92% to other shareholders and has 19.9% as of 2020. SZSYHT has transferred all of its shares to other shareholders. In October 2018, HATX purchased the property in Huai'an, Qingjiang Pu district with an area of 78,030 square meters. In December 2018 we established HAZB with a 78.46% ownership for the purpose of real estate investment and in March 2019, HAZB purchased 100% of HATX and tis land usage rights to the Huaian property. The Huaian project, named Tianxi Times, started its first phase development in early 2019 with a GFA of 82,218 sqm totaling 679 units, and started its second phase in middle 2020 with a GFA of 99,123 sqm totaling 873 units. As of March 31, 2021, the Company pre-sold 673 out of 679 units of first phase and pre-sold 258 out of 873 of second phase. The principal activities of the Company are real estate development, including property marketing, leasing and management services in the PRC.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting and Principles of Consolidation The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“ U.S. GAAP ”). The consolidated financial statements include the financial statements of Sunrise Real Estate Group, Inc. and its subsidiaries. All significant inter-company accounts and transactions have been eliminated on consolidation. Investments in business entities, in which the Company does not have control but can exercise significant influence over operating and financial policies, are accounted for using the equity method. Use of Estimates The preparation of financial statements in accordance with U.S GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value of Financial Instruments The Company follows the provisions of Accounting Standards Codification (“ ASC ”) 820, Fair Value Measurements and Disclosures (“ ASC 820 ”). It clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1‑Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2‑Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3‑Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The Company values its investments in wealth management products using alternative pricing sources and models utilizing market observable inputs, and accordingly the Company classifies the valuation techniques that use these inputs as Level 2. The carrying amounts reported in the accompanying consolidated balance sheets for cash and cash equivalents, restricted cash, accounts receivable, promissory deposits, amount due from an unconsolidated affiliate, other receivables and deposits, deferred tax assets, bank loans, promissory notes payable, accounts payable, customer deposits, amounts due to directors, other payables and accrued expenses, other taxes payable and income taxes payable approximate their fair value based on the short-term maturity of these instruments. Concentrations of Credit Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, accounts receivable, other receivables and deposits, and amount due from an unconsolidated affiliate. The Company places its cash and cash equivalents with reputable financial institutions with high credit ratings. The Company conducts credit evaluations of customers and generally does not require collateral or other security from customers. The Company establishes an allowance for doubtful accounts primarily based upon the age of the receivables and factors relevant to determining the credit risk of specific customers. The amount of receivables ultimately not collected by the Company has generally been consistent with management’s expectations and the allowance established for doubtful accounts. Major Customers During the year ended December 31, 2020 and 2019, there was no single customer that represented more than 10% of our net revenues. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and all high liquidity investments with an original maturity of three months or less. The Company maintains cash and cash equivalents with various banks in the PRC which are not insured or otherwise protected. Should any of these banks holding the Company’s cash deposits become insolvent, or if the Company is otherwise unable to withdraw funds for any reason, the Company could lose the cash on deposit with that particular bank. Foreign Currency Translation and Transactions The functional currency of SRRE, CY-SRRE and LRY is U.S. dollars (“ $ ”) and their financial records are maintained and the financial statements prepared in U.S. dollars. The functional currency of the Company’s subsidiaries and affiliates in China is Renminbi (“ RMB ”) and their financial records and statements are maintained and prepared in RMB. Foreign currency transactions during the year are translated into each company’s denominated currency at the exchange rates ruling at the transaction dates. Gain and loss resulting from foreign currency transactions are included in the consolidated statement of operations. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated into each company’s denominated currency at year-end exchange rates. All exchange differences are dealt with in the consolidated statements of operations. The financial statements of the Company’s operations based outside of the United States have been translated into U.S. dollars in accordance with ASC830. Management has determined that the functional currency for each of the Company’s foreign operations is its applicable local currency. When translating functional currency financial statements into U.S. dollars, year-end exchange rates are applied to the consolidated balance sheets, while average exchange rates as to revenues and expenses are applied to consolidated statements of operations. The effect of foreign currency translation adjustments are included as a component of accumulated other comprehensive income in shareholders’ equity. The exchange rates as of December 31, 2020 and December 31, 2019 were $1: RMB6.5249 and $1: RMB6.9762 respectively. The RMB is not freely convertible into foreign currency and all foreign exchange transaction must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at the rate used in translation. Real Estate Property under Development Real estate property under development, which consists of residential unit sites and commercial and residential unit sites under development, is stated at the lower of carrying amounts or fair value. Expenditures for land development, including cost of land use rights, deed tax, and pre-development costs and engineering costs, are capitalized and allocated to development projects by the specific identification method. Costs are allocated to specific units within a project based on the ratio of the sales value of units to the estimated total sales value times the total project costs. Costs of amenities transferred to buyers are allocated as common costs of the project that are allocated to specific units as a component of total construction costs. For amenities retained by the Company, costs in excess of the related fair value of the amenity are also treated as common costs. Results of operations of amenities retained by the Company are included in current operating results. In accordance with ASC 360, “Property, Plant and Equipment” (“ ASC 360 ”), real estate property under development is subject to valuation adjustments when the carrying amount exceeds fair value. An impairment loss is recognized only if the carrying amount of the assets is not recoverable and exceeds fair value. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to be generated by the assets. For the years ended December 31, 2020 and 2019, the Company had not recognized any impairment for real estate property under development. Capitalization of Interest Interest incurred during and directly related to real estate development projects is capitalized to the related real estate property under development during the active development period, which generally commences when borrowings are used to acquire real estate assets and ends when the properties are substantially complete or the property becomes inactive. Interest is capitalized based on the interest rate applicable to specific borrowings or the weighted average of the rates applicable to other borrowings during the period. Interest capitalized to real estate property under development is expensed as a component of cost of real estate sales when related units are sold. All other interest is expensed as incurred. Property and Equipment, Net Property and equipment are stated at cost less accumulated depreciation and any impairment losses. Depreciation is computed using the straight-line method to allocate the cost of depreciable assets over the estimated useful lives of the assets as follows: Estimated Useful Life (in years) Furniture and fixtures 5‑10 Computer and office equipment 3‑5 Motor vehicles 5 Properties 20 Maintenance, repairs and minor renewals are charged directly to the statement of operations as incurred. Additions and improvements are capitalized. When assets are disposed of, the related cost and accumulated depreciation thereon are removed from the accounts and any resulting gain or loss is included in the statement of operations. Investment Properties, Net Investment properties are stated at cost less accumulated depreciation and any impairment losses. Depreciation is computed using the straight-line method to allocate the cost of depreciable assets over their respective estimated useful lives of 20 years. Significant additions that extend property lives are capitalized and are depreciated over their respective estimated useful lives. Routine maintenance and repair costs are expensed as incurred. Impairment of Long-lived Assets In accordance with ASC 360, "Accounting for the Impairment or Disposal of Long-Lived Assets" (“ ASC 360 ”), the Company is required to review its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. The Company tests long-lived assets, including property and equipment, investment properties and other assets, for recoverability when events or circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally determined by using the asset’s expected future discounted cash flows or market value. The Company estimates fair value of the assets based on certain assumptions such as budgets, internal projections, and other available information as considered necessary. There is no impairment of long-lived assets during the years ended December 31, 2020 and 2019. Goodwill Goodwill is an intangible asset that is associated with the purchase of one company by another. Specifically, goodwill is the portion of the purchase price that is higher than the sum of the net fair value of all of the assets purchased in the acquisition and the liabilities assumed in the process. The value of a company's brand name, solid customer base, good customer relations, good employee relations, and proprietary technology represent some reasons why goodwill exists. Customer Deposits Customer deposits consist of amounts received from customers relating to the sale of residential units in the PRC. In the PRC, customers will generally obtain permanent financing for the purchase of their residential unit prior to the completion of the project. The lending institution will provide the funding to the Company upon the completion of the financing rather than the completion of the project. The Company receives these funds and recognizes them as a liability until the revenue can be recognized. Long Term Investments The Company accounts for long term investments in equities as follows. Investments in Unconsolidated Affiliates Affiliates are entities over which the Company has significant influence, but which it does not control. The Company generally considers an ownership interest of 20% or higher to represent significant influence. Investments in unconsolidated affiliates are accounted for by the equity method of accounting. Under this method, the Company’s share of the post-acquisition profits or losses of affiliates is recognized in the income statement and its shares of post-acquisition movements in other comprehensive income are recognized in other comprehensive income. Unrealized gains on transactions between the Company and its affiliates are eliminated to the extent of the Company’s interest in the affiliates; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. When the Company’s share of losses in an affiliate equals or exceeds its interest in the affiliate, the Company does not recognize further losses, unless the Company has incurred obligations or made payments on behalf of the affiliate. The Company is required to perform an impairment assessment of its investments whenever events or changes in business circumstances indicate that the carrying value of the investment may not be fully recoverable. An impairment loss is recorded when there has been a loss in value of the investment that is other than temporary. During the years ended December 31, 2020 and 2019, the Company provided no allowance for impairment loss on investments in unconsolidated affiliates. Other Investments Where the Company has no significant influence, the investment is classified as other investments in the balance sheet and is carried under the measurement alternative method. The measurement alternative measures the equity investment at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer. During the year ended December 31, 2020 and 2019, the Company provided no allowance for impairment loss on other investments. Government Subsidies Government subsidies include cash subsidies received by the Company’s subsidiaries in the PRC from local governments. In recognizing the benefit of government subsidies in accordance with U.S. GAAP, the Company considers intended use of and restrictions of the subsidy, the requirements for the receipt of funds, and whether or not the incentive is given for immediate financial support, or to encourage activities such as land development in specified area. Each grant is evaluated to determine the propriety of classification on the consolidated statements of operations and consolidated balance sheets. Those grants that are substantively reimbursements of specified costs are matched with those costs and recorded as a reduction in costs. Those benefits that are more general in nature or driven by business performance measures are classified as revenue. During 2012, the Company received no refundable government subsidy amount of $4,829,440 (RMB33, 175,416). The subsidy is given to reimburse the land acquisition costs and certain construction cost incurred for the Company’s property development project in Linyi, and is repayable if the Company fails to complete the subsidized property development project before the agreed date. The Company recorded the subsidy received as a deferred government subsidy. As of December 31, 2020, the Company’s deferred government subsidy amounted to $5,079,835 (2019: $4,751,214). Revenue Recognition Most of the Company’s revenue is derived from real estate sales in the PRC. The majority of the Company’s contracts contain a single performance obligation involving significant real estate development activities that are performed together to deliver a real estate property to customers. Revenues arising from real estate sales are recognized when or as the control of the asset is transferred to the customer. The control of the asset may transfer over time or at a point in time. For the sales of individual condominium units in a real estate development project, the Company has an enforceable right to payment for performance completed to date, revenue is recognized over time by measuring the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the asset. All revenues represent gross revenues less sales and business tax. ASC 606 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of the contract(s) which include (i) identifying the contract(s) with the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the separate performance obligations, and (v) recognizing revenue when each performance obligation is satisfied. ASC 606 also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. In addition, ASC 606 requires extensive disclosures . The Company adopted ASC 606 on January 1, 2018 using the modified retrospective approach with no restatement of comparative periods and no cumulative-effect adjustment to retained earnings recognized as of the date of adoption. A significant portion of the Company’s revenue is derived from development and sales of condominium real estate property in the PRC, with revenue previously recognized using the percentage of completion method. Under the new standard, to recognize revenue over time similar to the percentage of completion method, contractual provisions need to provide the Company with an enforceable right to payment and the Company has no alternative use of the asset. Historically, all contracts executed contained an enforceable right to home purchase payments and the Company had no alternative use of assets, therefore, the adoption of ASC 606 did not have a material impact on the Company’s consolidated financial statements. Comprehensive Income (Loss) In accordance with ASC 220‑10‑55, comprehensive income (loss) is defined as all changes in equity except those resulting from investments by owners and distributions to owners. The Company’s only components of comprehensive loss during the years ended December 31, 2020 and 2019 were net loss and foreign currency translation adjustments. Net Earnings (Loss) per Common Share The Company computes net earnings (loss) per share in accordance with ASC 260, “Earnings per Share” (“ ASC 260 ”). Under the provisions of ASC 260, basic net earnings (loss) per share is computed by dividing net earnings (loss) available to common shareholders for the period by the weighted average number of shares of common stock outstanding during the period. The calculation of diluted net earnings (loss) per share recognizes common stock equivalents, however; potential common stock in the diluted EPS computation is excluded in net loss periods, as their effect is anti-dilutive. Income Taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes” (“ ASC 740 ”), which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The Company recognizes tax benefits that satisfy a greater than 50% probability threshold and provides for the estimated impact of interest and penalties for such tax benefits. The Company did not incur any interest or penalties related to potential underpaid income tax expenses during the years ended December 31, 2020 and 2019. Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued a new accounting standard that amends the guidance for measuring and recording credit losses on financial assets measured at amortized cost by replacing the incurred-loss model with an expected-loss model. Accordingly, these financial assets are now presented at the net amount expected to be collected. This new standard also requires that credit losses related to available-for-sale debt securities be recorded as an allowance through net income rather than reducing the carrying amount under the former other-than-temporary-impairment model. We adopted this standard as of January 1, 2020, using a modified-retrospective approach. Adoption of the standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued a new accounting standard update which eliminates, adds and modifies certain disclosure requirements for fair value measurements. The update eliminates the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and introduces a requirement to disclose the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The Company adopted this new accounting standard on January 1, 2020, using the prospective method, and the adoption did not have a material impact on our consolidated financial statements. In November 2018, the FASB issued Accounting Standards Update No. 2018-18 "Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606" ("ASU 2018-18"). ASU 2018-18 clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under Topic 606, "Revenue from Contracts with Customers" when the counterparty is a customer. In addition, the update precludes an entity from presenting consideration from a transaction in a collaborative arrangement as customer revenue if the counterparty is not a customer for that transaction. On January 1, 2020, we adopted this standard and applied it retrospectively to January 1, 2018 when we initially adopted Topic 606. The adoption did not have an impact on our consolidated financial statements. New Accounting Pronouncements Accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss new accounting pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.

RESTRICTED CASH

RESTRICTED CASH	12 Months Ended
RESTRICTED CASH	Dec. 31, 2020
RESTRICTED CASH
RESTRICTED CASH	NOTE 3 - RESTRICTED CASH The Company is required to maintain certain deposits with the bank for those home buyers that has applied for a housing loan from their bank. This deposit is a percentage to each home buyer’s bank loan for the purpose of purchasing in our project. Once we complete the handover to the buyer, these deposits become unrestricted. As of December 31, 2020 and December 31, 2019, the Company held cash deposits of $56,051,055 and $8,383,359, respectively.

TRANSACTIONAL FINANCIAL ASSETS

TRANSACTIONAL FINANCIAL ASSETS	12 Months Ended
TRANSACTIONAL FINANCIAL ASSETS	Dec. 31, 2020
TRANSACTIONAL FINANCIAL ASSETS
TRANSACTIONAL FINANCIAL ASSETS	NOTE 4 - TRANSACTIONAL FINANCIAL ASSETS As of December 31, 2020, we have $25,012,736 invested in bank wealth management investment products. The investments have short maturity periods and can be rolled into a maturity date of our choosing or automatically rolled into subsequent maturity period. The annualized rate of return may range from 3.15% to 4.4% depending on the amount and time period invested.

REAL ESTATE PROPERTY UNDER DEVE

REAL ESTATE PROPERTY UNDER DEVELOPMENT	12 Months Ended
REAL ESTATE PROPERTY UNDER DEVELOPMENT	Dec. 31, 2020
REAL ESTATE PROPERTY UNDER DEVELOPMENT
REAL ESTATE PROPERTY UNDER DEVELOPMENT	NOTE 5 - REAL ESTATE PROPERTY UNDER DEVELOPMENT 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 Xiamen Road and Hong Kong Road in Linyi City Economic Development Zone, Shandong Province, PRC. This project covers a site area of approximately 103,385 square meters for the development of villa-style residential housing buildings. The Company acquired the site and commenced construction of this project during the fiscal year of 2012. We sold 119 of 121 Phase 1 villas and sold 16 units and pre-sold 71 villas out of all 88 units in Phase 2 as of March 31, 2021. In the first quarter of 2019, we purchased the property of HATX with the land use rights. As of December 31, 2020, land use rights included in real estate property under development totaled $166,236,339. In October 2018, HATX purchased the property in Huai’an, Qingjiang Pu district with an area of 78,030 square meters. In December 2018 we established HAZB with a 78.46% ownership for the purpose of real estate investment and in March 2019, HAZB purchased 100% of HATX and tis land usage rights to the Huaian property. The Huaian project, named Tianxi Times, started its first phase development in early 2019 with a GFA of 82,218 sqm totaling 679 units, and started its second phase in middle 2020 with a GFA of 99,123 sqm totaling 873 units. As of March 31, 2021, the Company pre-sold 673 out of 679 units of first phase and pre-sold 258 out of 873 of second phase.

OTHER RECEIVABLES AND DEPOSITS,

OTHER RECEIVABLES AND DEPOSITS, NET	12 Months Ended
OTHER RECEIVABLES AND DEPOSITS, NET	Dec. 31, 2020
OTHER RECEIVABLES AND DEPOSITS, NET
OTHER RECEIVABLES AND DEPOSITS, NET	NOTE 6 - OTHER RECEIVABLES AND DEPOSITS December 31, December 31, 2020 2019 Advances to staff $ 37,573 $ 19,172 Rental deposits 818,868 40,575 Prepaid expense 53,558 318,424 Prepaid tax 9,777,311 2,378,199 Other receivables 3,908,933 4,779,431 $ 14,596,243 $ 7,535,801 Other receivables and deposits as of December 31, 2020 are stated net of allowance for doubtful accounts of $503,814 (2019: $327,739). Other receivables of $3,462,504 mainly consists of $2,604,254 from Zhongji Pufa for our GXL project and $858,250 from Shanghai Wu Zhao Hao.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
PROPERTY AND EQUIPMENT, NET	Dec. 31, 2020
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	NOTE 7 - PROPERTY AND EQUIPMENT, NET December 31, December 31, 2020 2019 Furniture and fixtures $ 272,878 $ 175,150 Computer and office equipment 210,961 203,581 Motor vehicles 819,945 588,532 Properties 2,318,728 2,168,726 3,622,512 3,135,990 Less: Accumulated depreciation 2,237,736 1,932,140 $ 1,384,776 $ 1,203,850 During the year ended December 31, 2020, depreciation and amortization expense for property and equipment amounted to $3,199,986.

INVESTMENT PROPERTIES, NET

INVESTMENT PROPERTIES, NET	12 Months Ended
INVESTMENT PROPERTIES, NET	Dec. 31, 2020
INVESTMENT PROPERTIES, NET
INVESTMENT PROPERTIES, NET	NOTE 8 - INVESTMENT PROPERTIES, NET December 31, December 31, 2020 2019 Investment properties $ 35,616,482 $ 33,312,403 Less: Accumulated depreciation (8,340,805) (6,363,357) $ 27,275,677 $ 26,949,046 During the year ended December 31, 2020, depreciation and amortization expense for investment properties amounted to $2,936,213.

INVESTMENT IN AND AMOUNT DUE FR

INVESTMENT IN AND AMOUNT DUE FROM UNCONSOLIDATED AFFILIATES	12 Months Ended
INVESTMENT IN AND AMOUNT DUE FROM UNCONSOLIDATED AFFILIATES	Dec. 31, 2020
INVESTMENT IN AND AMOUNT DUE FROM UNCONSOLIDATED AFFILIATES
INVESTMENT IN AND AMOUNT DUE FROM UNCONSOLIDATED AFFILIATES	NOTE 9 - INVESTMENTS IN AND AMOUNT DUE FROM UNCONSOLIDATED AFFILIATES The investments in unconsolidated affiliates primarily consist of SHDEW (19.91)%. As of December 31, 2020, the investment amount in SHDEW was $13,579,678. SHDEW was established in June 2013 with its business as a skincare and cosmetic company. SHDEW’s online Wechat stores had a membership of over ten million members as of March 31, 2021. SHDEW is developing its own skincare products as well as improving its online ecommerce platform. SHDEW sells products under its own brands as well as the products of third parties. The products include skincare, cosmetics, personal care products such as soaps, shampoos, skin care devices and children’s apparel. SHDEW is developing its own online shopping platform where consumers can purchase its n cosmetics and skincare products as well as products imported into China. The online shopping platform has been in operation since 2017. In December 2019, SHDEW issued an employee stock bonus where many of its employee received their vested shares. This resulted in the dilution of our ownership of SHDEW from 20.38% to 19.91% thereby changing out accounting method for the SHDEW investment from the equity method to measurement alternative method going forward.

OTHER INVESTMENTS, NET

OTHER INVESTMENTS, NET	12 Months Ended
OTHER INVESTMENTS, NET	Dec. 31, 2020
OTHER INVESTMENTS, NET
OTHER INVESTMENTS, NET	NOTE 10 - OTHER INVESTMENTS, NET According to ASU 2016-01, where the Company has no significant influence, the investment is classified as other investments in the balance sheet and is carried under the measurement alternative method. The measurement alternative measures the equity investment at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer. As of December 31, 2020 and December 31, 2019, the carrying amount of the Company’s measurement alternative investments was $696,677 and $143,345, respectively. The Company performs impairment assessment of its investments under the measurement alternative whenever events or changes in circumstances indicate that the carrying value of the investment may not be fully recoverable. Impairment charges in connection with the measurement alternative investments of nil were recorded in others, net in the Consolidated Statements of Operations and Comprehensive Income/(Loss) for the years ended December 31, 2019 and 2020, respectively. In June of 2020, SHSY invested 7.0915% in Taobuting ("TBT"). TBT is a media company that provide content on live streaming platforms such as Douyin (China version of Tik Tok). On April 4, 2020, the Company purchased 10% of LYSY from Nanjing Longchang Real Estate Development Group in the amount of 22.17 million RMB ($3,398,213).

GOODWILL

GOODWILL	12 Months Ended
GOODWILL	Dec. 31, 2020
GOODWILL
GOODWILL	NOTE 11 - GOODWILL In April 4, 2020, the Company purchased 10% of LYSY from Nanjing Longchang Real Estate Development Group in the amount of 22.17 million RMB ($3,398,213). The amount of $1,690,029 of goodwill is from the difference between the investment cost and book value.

PROMISSORY NOTES PAYABLE

PROMISSORY NOTES PAYABLE	12 Months Ended
PROMISSORY NOTES PAYABLE	Dec. 31, 2020
PROMISSORY NOTES PAYABLE
PROMISSORY NOTES PAYABLE	NOTE 12 - PROMISSORY NOTES PAYABLE The promissory notes payable consists of the following unsecured notes to unrelated parties. Included in the balances are promissory notes with outstanding principal and unpaid interest of an aggregate of $1,532,591 and $1,433,445 as of December 31, 2020 and December 31, 2019, respectively. The promissory note with a principal as of December 31, 2020 amounting to $766,295 bears interest at a rate of 0% per annum, is unsecured and has no fixed term of repayment. As of December 31, 2020, and December 31, 2019, the outstanding principal and unpaid interest related to this promissory note amounted to $766,295 and $716,723, respectively. The promissory note with a principal as of December 31, 2020 amounting to $766,295 bears interest at a rate of 0% per annum, is unsecured and has no fixed term of repayment. As of December 31, 2020, and December 31, 2019, the outstanding principal and unpaid interest related to this promissory note amounted to $766,295 and $716,723, respectively. During the year ended December 31, 2020 and 2019, there were no interest expenses related to these promissory notes.

AMOUNTS DUE TO DIRECTORS

AMOUNTS DUE TO DIRECTORS	12 Months Ended
AMOUNTS DUE TO DIRECTORS	Dec. 31, 2020
Directors [Member]
AMOUNTS DUE TO DIRECTORS	NOTE 13 - AMOUNTS DUE TO DIRECTORS December 31, December 31, 2020 2019 Lin Chi-Jung $ 23,387,151 $ 1,469,315 Pan Yu-Jen — (28,669) Lin Hsin-Hung 22,213 32,349 $ 23,409,364 $ 1,472,995 (a) The balance due to Lin Chi-Jung consists of temporary advances. The balances are unsecured, interest-free and have no fixed term of repayment. (b) The balances due to Lin Hsin-Hung was unsecured, interest-free and have no fixed term of repayment.

ACCOUNTS PAYABLE

ACCOUNTS PAYABLE	12 Months Ended
ACCOUNTS PAYABLE	Dec. 31, 2020
ACCOUNTS PAYABLE
ACCOUNTS PAYABLE	NOTE 14 - ACCOUNTS PAYABLE As of December 31, 2020, and 2019, the balances of accounts payable were $20,448,001 and $4,347,678 respectively. The balance of accounts payable as of December 31, 2020 included unpaid development fee of Linyi project of $1,608,872 and HATX project of $17,466,356. The remaining balance was due to agents of the operating business.

CUSTOMER DEPOSITS

CUSTOMER DEPOSITS	12 Months Ended
CUSTOMER DEPOSITS	Dec. 31, 2020
CUSTOMER DEPOSITS
CUSTOMER DEPOSITS	NOTE 15 - CUSTOMER DEPOSITS Customer deposits consisted of the sales from real estate development project (the Linyi project and the HATX project) which cannot be recognized as revenue at the accounting period and deposits received for rental. The Linyi project has started pre-sales in November 2013 and in the year of 2019, the Project has recognized its revenue along with customer deposit, as of December 31, 2020, the pre-sales amounted to $27,157,760. The HATX project has started pre-sales in December 2019, as of December 31, 2020 the pre-sales amounted to $88,897,550.

AMOUNT DUE TO AFFILIATES

AMOUNT DUE TO AFFILIATES	12 Months Ended
AMOUNT DUE TO AFFILIATES	Dec. 31, 2020
Due To Affiliate [Member]
Related Party Transaction [Line Items]
AMOUNT DUE TO AFFILIATES	NOTE 16 - AMOUNT DUE TO AFFILIATES As of December 31, 2020, the amount due to JXSY, in the amount of $539,165 was intercompany transfers for day-to-day operations. As of December 31, 2020, the amount due to Shanghai Shengji ("SHSJ") a shareholder of HATX, $30,899,411 and JXSY, $539,165, was an intercompany transfer for day-to- day operations.

OTHER PAYABLES AND ACCRUED EXPE

OTHER PAYABLES AND ACCRUED EXPENSES	12 Months Ended
OTHER PAYABLES AND ACCRUED EXPENSES	Dec. 31, 2020
OTHER PAYABLES AND ACCRUED EXPENSES
OTHER PAYABLES AND ACCRUED EXPENSES	NOTE 17 - OTHER PAYABLES AND ACCRUED EXPENSES December 31, December 31, 2020 2019 Accrued staff commission and bonus $ 241,718 $ 221,674 Rental deposits received 92,700 117,328 Bid bond 209,965 222,184 Other payables 7,836,075 13,777,035 Dividends payable to non-controlling interest 206,217 192,877 $ 8,586,675 $ 14,531,098 Other payables are advances from unrelated parties are unsecured, interest-free and have no fixed term of repayment.

INCOME TAXES PAYABLE

INCOME TAXES PAYABLE	12 Months Ended
INCOME TAXES PAYABLE	Dec. 31, 2020
INCOME TAXES PAYABLE
INCOME TAXES PAYABLE	NOTE 18 - INCOME TAXES PAYABLE The 2017 Tax Act was enacted on December 22, 2017. Due to the complexities involved in the accounting for the 2017 Tax Act, the SEC issued SAB 118, which provides guidance on the application of US GAAP for income taxes in the period of enactment. SAB 118 requires companies to include in their financial statements a reasonable estimate of the impact of the 2017 Tax Act, to the extent such an estimate has been determined. As a result, our financial results reflect the income tax effects of the 2017 Tax Act for which the accounting is complete, as well as provisional amounts for those impacts for which the accounting is incomplete but a reasonable estimate could be determined. The Tax Legislation significantly revises the U.S. corporate income tax by, among other things, lowering the corporate income tax rate to 21%, implementing a modified territorial tax system and imposing a one-time repatriation tax on deemed repatriated earnings and profits of U.S.-owned foreign subsidiaries (the Toll Charge). As a fiscal-year taxpayer, certain provisions of the Tax Legislation impacted the Company in fiscal 2018, including the change in the corporate income tax rate and the Toll Charge, while other provisions will be effective starting at the beginning of fiscal 2019, including the implementation of a modified territorial tax system. The U.S. federal income tax rate reduction was effective as of January 1, 2018. Year Ended December 31, 2020 2019 Income /(loss) before income tax expense Income /(loss) from China operations $ 913,264 $ (4,541,266) Income /(loss) from non-China operations (456,468) (362,615) Total income /(loss) before income tax expense 456,797 (4,903,881) Income tax expense applicable to China operations Current tax 710 1,427 Deferred tax (517,407) (385,472) Subtotal income tax expense applicable to China operations (516,697) (384,046) Non-China income tax expense/(benefit) 2,743,568 — Total income tax expense $ 2,226,871 $ (384,046) In 2020, of the $456,468 income tax benefit, was for PRC tax, mainly attributable to the non-U.S. subsidiaries of the Company’s business operations and $0 was for U.S. corporate income tax, resulting primarily from a one-time transition tax recognized in the fourth quarter of 2017 that represented management’s estimate of the amount of U.S. corporate income tax based on the deemed repatriation to the United States of the Company’s share of previously deferred earnings of certain non-U.S. subsidiaries of the Company mandated by the U.S. Tax Reform. The Company may make an election to pay the one-time transition tax over eight years commencing in April 2021 or pay in a single lump sum. Effective Tax Rate The following is reconciliation between the U.S. federal statutory rate and the Company’s effective tax rate: 2020 2019 PRC Statutory rate 25 % 25 % Effect of the U.S. Transition Tax under the 2017 TCJA — % — % Effect of income not taxable for PRC tax purposes 0.08 % (17.2) % Under (Over)-provision for income taxes in prior years 0.0 % — % Effective income tax rate 487.50 % 7.83 % Deferred Tax Assets and Liabilities Significant components of the Company’s deferred tax assets and liabilities consist of the following: As of December 31, 2020 2019 Deferred tax assets: Net operating loss from operations $ 955,373 $ 380,627 Total deferred tax assets 955,373 380,627 Less: Valuation allowance — — Net deferred tax assets $ 955,373 $ 380,627 In assessing the reliability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible or are utilized. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon an assessment of the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are tested whether they are deductible or can be utilized, the Company recorded the deferred tax assets resulting from net operating loss carry forwards of $955,373 as of December 31, 2020 (2019: $380,627). The Company adopted ASC 740‑10‑25 Accounting for Uncertainty in Income Taxes and such adoption did not have any material impact on the accompanying consolidated financial statements. The Company is subject to income taxes in the PRC. Tax regulations are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. All tax positions taken, or expected to be taken, continue to be more likely than not ultimately settled at the full amount claimed. The Company’s tax filings are subject to the PRC tax bureau’s examination for a period up to five years. The Company is not currently under any examination by the PRC tax bureau.

DEFERRED GOVERNMENT SUBSIDY

DEFERRED GOVERNMENT SUBSIDY	12 Months Ended
DEFERRED GOVERNMENT SUBSIDY	Dec. 31, 2020
DEFERRED GOVERNMENT SUBSIDY
DEFERRED GOVERNMENT SUBSIDY	NOTE 19‑ DEFERRED GOVERNMENT SUBSIDY Deferred government subsidy consists of the cash subsidy provided by the local government. Government subsidies include cash subsidies received by the Company’s subsidiaries in the PRC from local governments. In recognizing the benefit of government subsidies in accordance with U.S. GAAP, the Company considers intended use of and restrictions of the subsidy, the requirements for the receipt of funds, and whether or not the incentive is given for immediate financial support, or to encourage activities such as land development in specified area. Each grant is evaluated to determine the propriety of classification on the consolidated statements of operations and consolidated balance sheets. Those grants that are substantively reimbursements of specified costs are matched with those costs and are recorded as a reduction in costs. Those benefits that are more general in nature or driven by business performance measures are classified as revenue. The Company has received refundable government subsidy of $5,079,835 as of December 31, 2020. The subsidy is given to reimburse the land acquisition costs and certain construction costs incurred for the Company’s property development project in Linyi, and are repayable if the Company fails to complete the subsidized property development project according to the agreed schedules. The Company recorded the subsidy received as a deferred government subsidy.

STATUTORY RESERVE

STATUTORY RESERVE	12 Months Ended
STATUTORY RESERVE	Dec. 31, 2020
STATUTORY RESERVE
STATUTORY RESERVE	NOTE 20‑ STATUTORY RESERVE According to the relevant corporation laws in the PRC, a PRC company is required to transfer at least 10% of its profit after taxes, as determined under accounting principles generally accepted in the PRC, to the statutory reserve until the balance reaches 50% of its registered capital. The statutory reserve can be used to make good on losses or to increase the capital of the relevant company. According to the Law of the PRC on Enterprises with Wholly-Owned Foreign Investment, the Company PRC’s subsidiaries are required to make appropriations from after-tax profits as determined under accounting principles generally accepted in the PRC (“ PRC GAAP ”) to non-distributable reserves. These reserve funds include one or more of the following: (i) a general reserve, (ii) an enterprise expansion reserve and (iii) a staff bonus and welfare fund. A wholly-owned PRC subsidiary is not required to make appropriations to the enterprise expansion reserve but annual appropriations to the general reserve are required to be made at 10% of the profit after tax as determined under PRC GAAP at each year-end, until such fund has reached 50% of its respective registered capital. The staff welfare and bonus reserve is determined by the board of directors. The general reserve is used to offset future losses. The subsidiary may, upon a resolution passed by the stockholders, convert the general reserve into capital. The staff welfare and bonus reserve are used for the collective welfare of the employees of the subsidiary. The enterprise expansion reserve is for the expansion of the subsidiary operations and can be converted to capital subject to approval by the relevant authorities. These reserves represent appropriations of the retained earnings determined in accordance with Chinese law. In addition to the general reserve, the Company’s PRC subsidiaries are required to obtain approval from the local PRC government prior to distributing any registered share capital. Accordingly, both the appropriations to general reserve and the registered share capital of the Company’s PRC subsidiary are considered as restricted net assets and are not distributable as cash dividends. As of December 31, 2020, the Company’s statutory reserve fund was $3,986,618.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 21‑ COMMITMENTS AND CONTINGENCIES Operating Lease Commitments The Company leases certain of its office properties under non-cancellable operating lease arrangements. Payments under operating leases are expensed on a straight-line basis over the periods of their respective terms, and the terms of the leases do not contain rent escalation, or contingent rent, renewal, or purchase options. There are no restrictions placed upon the Company by entering into these leases. Rental expenses under operating leases for the year ended December 31, 2020 and 2019 were $225,008 and$460,617, respectively. As of December 31, 2020, the Company had the following operating lease obligations falling due. Amount Year Ending Within one year $ — Two to five years — $ —

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
SEGMENT INFORMATION	Dec. 31, 2020
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 22‑ SEGMENT INFORMATION The Company’s Chief Executive Officer and Chief Operating Officer have been identified as the chief operating decision makers. The Company’s chief operating decision makers direct the allocation of resources to operating segments based on the profitability and cash flows of each respective segment. The Company evaluates performance based on several factors, including net revenue, cost of revenue, operating expenses, and income from operations. The following tables show the operations of the Company’s operating segments: Year Ended December 31, 2020 Property Brokerage Real Estate Investment Services Development Transaction Others Total Net revenues $ 750,101 $ 5,141,466 $ — $ — $ 5,891,567 Cost of revenues (1,137,718) (4,214,492) — — (5,352,210) Gross profit (387,617) 926,974 — — 539,357 Operating expenses (872,067) (2,826,998) — — (3,699,065) General and administrative expenses (22,856,012) (1,308,665) — (460,253) (24,624,930) Operating loss (24,115,696) (3,208,689) — (460,253) (27,784,638) Other income (expenses) Interest income 71,813 504,427 — 6,548 582,788 Interest expense (48) — — — (48) Other income, Net 883,416 16,021 24,286,623 — 25,186,060 Total other (expenses) income 955,181 520,448 24,286,623 6,548 25,768,800 Income (loss) before income taxes (23,160,515) (2,688,241) 24,286,623 (453,705) (2,015,838) Income tax 516,697 — — (2,743,568) (2,226,871) Net Income (loss) $ (22,643,818) $ (2,688,241) $ 24,286,623 $ (3,197,273) $ (4,242,709) Year Ended December 31, 2019 Property Brokerage Real Estate Investment Services Development Transaction Others Total Net revenues $ 721,491 $ 32,268,287 $ — $ — $ 32,989,778 Cost of revenues (695,952) (26,115,163) — — (26,811,115) Gross profit 25,539 6,153,124 — — 6,178,663 Operating expenses (1,215,372) (1,864,438) — (251) (3,080,061) General and administrative expenses (3,867,873) (5,798,119) — (381,013) (10,047,005) Operating loss (5,057,706) (1,509,433) — (381,264) (6,948,403) Other income (expenses) Interest income 41,269 99,224 — 11,267 151,760 Interest expense — — — — Other income, Net 128,338 (45,978) 1,810,402 — 1,892,762 Total other (expenses) income 169,607 53,246 1,810,402 11,267 2,044,522 Income (loss) before income taxes (4,888,100) (1,456,187) 1,810,402 (369,997) (4,519,835) Income tax 384,046 — — — 384,046 Net Income (loss) $ (4,504,054) $ (1,456,187) $ 1,810,402 $ (369,997) $ (4,519,835) Property Brokerage Real Estate Investment* Services Development Transaction Others Total As of December 31, 2020 Real estate property under development $ — $ 166,236,339 $ — $ — $ 166,236,339 Total assets 6,360,885 208,385,676 39,319,743 94,439,993 348,506,297 As of December 31, 2019 Real estate property under development $ — $ 85,909,986 $ — $ — $ 85,909,986 Total assets 9,756,530 70,345,062 40,737,782 66,443,870 187,283,244

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2020
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 23 - RELATED PARTY TRANSACTIONS A related party is an entity that can control or significantly influence the management or operating policies of another entity to the extent one of the entities may be prevented from pursuing its own interests. A related party may also be any party the entity deals with that can exercise that control. The Company has received dividends from SHDEW in an amount of $24,244,813 in 2020. We rented an office of nearly 192 square meters in downtown Shanghai for displaying purpose from Mrs. Zhang Shuqing, our related party, for $183,910 in 2020. WHGFH has received revenue of sales service fee from WHYYL of $5,783 in 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 24 - SUBSEQUENT EVENTS On January 27 and March 3, 2021, the Company paid RMB150,000,000 in cash to Mr. Lin Chi-Jung (approximately USD21,167,305) authorized by the Board of Directors on April 27, 2020 for his contributions to the Company, including Mr. Lin's initiation and supervision of the Company's investment in Shanghai Da Er Wei Trading Company Limited ("SHDEW"). The Bonus is equivalent to 15% of the annual dividends received from SHDEW from 2016 through 2019. According to the Board Resolution of April 10, 2021, we plan to pay a cash dividend of $0.10 per share on June 10,2021.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting and Principles of Consolidation	Basis of Accounting and Principles of Consolidation The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“ U.S. GAAP ”). The consolidated financial statements include the financial statements of Sunrise Real Estate Group, Inc. and its subsidiaries. All significant inter-company accounts and transactions have been eliminated on consolidation. Investments in business entities, in which the Company does not have control but can exercise significant influence over operating and financial policies, are accounted for using the equity method.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company follows the provisions of Accounting Standards Codification (“ ASC ”) 820, Fair Value Measurements and Disclosures (“ ASC 820 ”). It clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1‑Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2‑Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3‑Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The Company values its investments in wealth management products using alternative pricing sources and models utilizing market observable inputs, and accordingly the Company classifies the valuation techniques that use these inputs as Level 2. The carrying amounts reported in the accompanying consolidated balance sheets for cash and cash equivalents, restricted cash, accounts receivable, promissory deposits, amount due from an unconsolidated affiliate, other receivables and deposits, deferred tax assets, bank loans, promissory notes payable, accounts payable, customer deposits, amounts due to directors, other payables and accrued expenses, other taxes payable and income taxes payable approximate their fair value based on the short-term maturity of these instruments.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, accounts receivable, other receivables and deposits, and amount due from an unconsolidated affiliate. The Company places its cash and cash equivalents with reputable financial institutions with high credit ratings. The Company conducts credit evaluations of customers and generally does not require collateral or other security from customers. The Company establishes an allowance for doubtful accounts primarily based upon the age of the receivables and factors relevant to determining the credit risk of specific customers. The amount of receivables ultimately not collected by the Company has generally been consistent with management’s expectations and the allowance established for doubtful accounts.
Major Customers	Major Customers During the year ended December 31, 2020 and 2019, there was no single customer that represented more than 10% of our net revenues.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and all high liquidity investments with an original maturity of three months or less. The Company maintains cash and cash equivalents with various banks in the PRC which are not insured or otherwise protected. Should any of these banks holding the Company’s cash deposits become insolvent, or if the Company is otherwise unable to withdraw funds for any reason, the Company could lose the cash on deposit with that particular bank.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The functional currency of SRRE, CY-SRRE and LRY is U.S. dollars (“ $ ”) and their financial records are maintained and the financial statements prepared in U.S. dollars. The functional currency of the Company’s subsidiaries and affiliates in China is Renminbi (“ RMB ”) and their financial records and statements are maintained and prepared in RMB. Foreign currency transactions during the year are translated into each company’s denominated currency at the exchange rates ruling at the transaction dates. Gain and loss resulting from foreign currency transactions are included in the consolidated statement of operations. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated into each company’s denominated currency at year-end exchange rates. All exchange differences are dealt with in the consolidated statements of operations. The financial statements of the Company’s operations based outside of the United States have been translated into U.S. dollars in accordance with ASC830. Management has determined that the functional currency for each of the Company’s foreign operations is its applicable local currency. When translating functional currency financial statements into U.S. dollars, year-end exchange rates are applied to the consolidated balance sheets, while average exchange rates as to revenues and expenses are applied to consolidated statements of operations. The effect of foreign currency translation adjustments are included as a component of accumulated other comprehensive income in shareholders’ equity. The exchange rates as of December 31, 2020 and December 31, 2019 were $1: RMB6.5249 and $1: RMB6.9762 respectively. The RMB is not freely convertible into foreign currency and all foreign exchange transaction must take place through authorized institutions. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at the rate used in translation.
Real Estate Property under Development	Real Estate Property under Development Real estate property under development, which consists of residential unit sites and commercial and residential unit sites under development, is stated at the lower of carrying amounts or fair value. Expenditures for land development, including cost of land use rights, deed tax, and pre-development costs and engineering costs, are capitalized and allocated to development projects by the specific identification method. Costs are allocated to specific units within a project based on the ratio of the sales value of units to the estimated total sales value times the total project costs. Costs of amenities transferred to buyers are allocated as common costs of the project that are allocated to specific units as a component of total construction costs. For amenities retained by the Company, costs in excess of the related fair value of the amenity are also treated as common costs. Results of operations of amenities retained by the Company are included in current operating results. In accordance with ASC 360, “Property, Plant and Equipment” (“ ASC 360 ”), real estate property under development is subject to valuation adjustments when the carrying amount exceeds fair value. An impairment loss is recognized only if the carrying amount of the assets is not recoverable and exceeds fair value. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to be generated by the assets. For the years ended December 31, 2020 and 2019, the Company had not recognized any impairment for real estate property under development.
Capitalization of Interest	Capitalization of Interest Interest incurred during and directly related to real estate development projects is capitalized to the related real estate property under development during the active development period, which generally commences when borrowings are used to acquire real estate assets and ends when the properties are substantially complete or the property becomes inactive. Interest is capitalized based on the interest rate applicable to specific borrowings or the weighted average of the rates applicable to other borrowings during the period. Interest capitalized to real estate property under development is expensed as a component of cost of real estate sales when related units are sold. All other interest is expensed as incurred.
Property and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost less accumulated depreciation and any impairment losses. Depreciation is computed using the straight-line method to allocate the cost of depreciable assets over the estimated useful lives of the assets as follows: Estimated Useful Life (in years) Furniture and fixtures 5‑10 Computer and office equipment 3‑5 Motor vehicles 5 Properties 20 Maintenance, repairs and minor renewals are charged directly to the statement of operations as incurred. Additions and improvements are capitalized. When assets are disposed of, the related cost and accumulated depreciation thereon are removed from the accounts and any resulting gain or loss is included in the statement of operations.
Investment Properties, Net	Investment Properties, Net Investment properties are stated at cost less accumulated depreciation and any impairment losses. Depreciation is computed using the straight-line method to allocate the cost of depreciable assets over their respective estimated useful lives of 20 years. Significant additions that extend property lives are capitalized and are depreciated over their respective estimated useful lives. Routine maintenance and repair costs are expensed as incurred.
Impairment of Long-lived Assets	Impairment of Long-lived Assets In accordance with ASC 360, "Accounting for the Impairment or Disposal of Long-Lived Assets" (“ ASC 360 ”), the Company is required to review its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. The Company tests long-lived assets, including property and equipment, investment properties and other assets, for recoverability when events or circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally determined by using the asset’s expected future discounted cash flows or market value. The Company estimates fair value of the assets based on certain assumptions such as budgets, internal projections, and other available information as considered necessary. There is no impairment of long-lived assets during the years ended December 31, 2020 and 2019.
Goodwill	Goodwill Goodwill is an intangible asset that is associated with the purchase of one company by another. Specifically, goodwill is the portion of the purchase price that is higher than the sum of the net fair value of all of the assets purchased in the acquisition and the liabilities assumed in the process. The value of a company's brand name, solid customer base, good customer relations, good employee relations, and proprietary technology represent some reasons why goodwill exists.
Customer Deposits	Customer Deposits Customer deposits consist of amounts received from customers relating to the sale of residential units in the PRC. In the PRC, customers will generally obtain permanent financing for the purchase of their residential unit prior to the completion of the project. The lending institution will provide the funding to the Company upon the completion of the financing rather than the completion of the project. The Company receives these funds and recognizes them as a liability until the revenue can be recognized.
Long Term Investments	Long Term Investments The Company accounts for long term investments in equities as follows. Investments in Unconsolidated Affiliates Affiliates are entities over which the Company has significant influence, but which it does not control. The Company generally considers an ownership interest of 20% or higher to represent significant influence. Investments in unconsolidated affiliates are accounted for by the equity method of accounting. Under this method, the Company’s share of the post-acquisition profits or losses of affiliates is recognized in the income statement and its shares of post-acquisition movements in other comprehensive income are recognized in other comprehensive income. Unrealized gains on transactions between the Company and its affiliates are eliminated to the extent of the Company’s interest in the affiliates; unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. When the Company’s share of losses in an affiliate equals or exceeds its interest in the affiliate, the Company does not recognize further losses, unless the Company has incurred obligations or made payments on behalf of the affiliate. The Company is required to perform an impairment assessment of its investments whenever events or changes in business circumstances indicate that the carrying value of the investment may not be fully recoverable. An impairment loss is recorded when there has been a loss in value of the investment that is other than temporary. During the years ended December 31, 2020 and 2019, the Company provided no allowance for impairment loss on investments in unconsolidated affiliates. Other Investments Where the Company has no significant influence, the investment is classified as other investments in the balance sheet and is carried under the measurement alternative method. The measurement alternative measures the equity investment at cost less impairment, adjusted for observable price changes in orderly transactions for an identical or similar investment of the same issuer. During the year ended December 31, 2020 and 2019, the Company provided no allowance for impairment loss on other investments.
Government Subsidies	Government Subsidies Government subsidies include cash subsidies received by the Company’s subsidiaries in the PRC from local governments. In recognizing the benefit of government subsidies in accordance with U.S. GAAP, the Company considers intended use of and restrictions of the subsidy, the requirements for the receipt of funds, and whether or not the incentive is given for immediate financial support, or to encourage activities such as land development in specified area. Each grant is evaluated to determine the propriety of classification on the consolidated statements of operations and consolidated balance sheets. Those grants that are substantively reimbursements of specified costs are matched with those costs and recorded as a reduction in costs. Those benefits that are more general in nature or driven by business performance measures are classified as revenue. During 2012, the Company received no refundable government subsidy amount of $4,829,440 (RMB33, 175,416). The subsidy is given to reimburse the land acquisition costs and certain construction cost incurred for the Company’s property development project in Linyi, and is repayable if the Company fails to complete the subsidized property development project before the agreed date. The Company recorded the subsidy received as a deferred government subsidy. As of December 31, 2020, the Company’s deferred government subsidy amounted to $
Revenue Recognition	Revenue Recognition Most of the Company’s revenue is derived from real estate sales in the PRC. The majority of the Company’s contracts contain a single performance obligation involving significant real estate development activities that are performed together to deliver a real estate property to customers. Revenues arising from real estate sales are recognized when or as the control of the asset is transferred to the customer. The control of the asset may transfer over time or at a point in time. For the sales of individual condominium units in a real estate development project, the Company has an enforceable right to payment for performance completed to date, revenue is recognized over time by measuring the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the asset. All revenues represent gross revenues less sales and business tax. ASC 606 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASC 606 creates a five-step model that requires entities to exercise judgment when considering the terms of the contract(s) which include (i) identifying the contract(s) with the customer, (ii) identifying the separate performance obligations in the contract, (iii) determining the transaction price, (iv) allocating the transaction price to the separate performance obligations, and (v) recognizing revenue when each performance obligation is satisfied. ASC 606 also specifies the accounting for the incremental costs of obtaining a contract and the costs directly related to fulfilling a contract. In addition, ASC 606 requires extensive disclosures . The Company adopted ASC 606 on January 1, 2018 using the modified retrospective approach with no restatement of comparative periods and no cumulative-effect adjustment to retained earnings recognized as of the date of adoption. A significant portion of the Company’s revenue is derived from development and sales of condominium real estate property in the PRC, with revenue previously recognized using the percentage of completion method. Under the new standard, to recognize revenue over time similar to the percentage of completion method, contractual provisions need to provide the Company with an enforceable right to payment and the Company has no alternative use of the asset. Historically, all contracts executed contained an enforceable right to home purchase payments and the Company had no alternative use of assets, therefore, the adoption of ASC 606 did not have a material impact on the Company’s consolidated financial statements.
Comprehensive Income (Loss)	Comprehensive Income (Loss) In accordance with ASC 220‑10‑55, comprehensive income (loss) is defined as all changes in equity except those resulting from investments by owners and distributions to owners. The Company’s only components of comprehensive loss during the years ended December 31, 2020 and 2019 were net loss and foreign currency translation adjustments.
Net Earnings (Loss) per Common Share	Net Earnings (Loss) per Common Share The Company computes net earnings (loss) per share in accordance with ASC 260, “Earnings per Share” (“ ASC 260 ”). Under the provisions of ASC 260, basic net earnings (loss) per share is computed by dividing net earnings (loss) available to common shareholders for the period by the weighted average number of shares of common stock outstanding during the period. The calculation of diluted net earnings (loss) per share recognizes common stock equivalents, however; potential common stock in the diluted EPS computation is excluded in net loss periods, as their effect is anti-dilutive.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes” (“ ASC 740 ”), which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. The Company recognizes tax benefits that satisfy a greater than 50% probability threshold and provides for the estimated impact of interest and penalties for such tax benefits. The Company did not incur any interest or penalties related to potential underpaid income tax expenses during the years ended December 31, 2020 and 2019.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued a new accounting standard that amends the guidance for measuring and recording credit losses on financial assets measured at amortized cost by replacing the incurred-loss model with an expected-loss model. Accordingly, these financial assets are now presented at the net amount expected to be collected. This new standard also requires that credit losses related to available-for-sale debt securities be recorded as an allowance through net income rather than reducing the carrying amount under the former other-than-temporary-impairment model. We adopted this standard as of January 1, 2020, using a modified-retrospective approach. Adoption of the standard did not have a material impact on our consolidated financial statements. In August 2018, the FASB issued a new accounting standard update which eliminates, adds and modifies certain disclosure requirements for fair value measurements. The update eliminates the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and introduces a requirement to disclose the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The Company adopted this new accounting standard on January 1, 2020, using the prospective method, and the adoption did not have a material impact on our consolidated financial statements. In November 2018, the FASB issued Accounting Standards Update No. 2018-18 "Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606" ("ASU 2018-18"). ASU 2018-18 clarifies that certain transactions between participants in a collaborative arrangement should be accounted for under Topic 606, "Revenue from Contracts with Customers" when the counterparty is a customer. In addition, the update precludes an entity from presenting consideration from a transaction in a collaborative arrangement as customer revenue if the counterparty is not a customer for that transaction. On January 1, 2020, we adopted this standard and applied it retrospectively to January 1, 2018 when we initially adopted Topic 606. The adoption did not have an impact on our consolidated financial statements.
New Accounting Pronouncements	New Accounting Pronouncements Accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. The Company does not discuss new accounting pronouncements that are not anticipated to have an impact on or are unrelated to its financial condition, results of operations, cash flows or disclosures.

ORGANIZATION AND DESCRIPTION _2

ORGANIZATION AND DESCRIPTION OF BUSINESS (Tables)	12 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS (Tables)	Dec. 31, 2020
ORGANIZATION AND DESCRIPTION OF BUSINESS
Schedule of consolidation entities nature of business	As of December 31, 2020, the Company has the following major subsidiaries and equity investments. % of Ownership Relationship Date of Place of held by the with the Company Name Incorporation Incorporation Company Company Principal activity Sunrise Real Estate Development Group, Inc. (“CY-SRRE”) April 30, 2004 Cayman Islands 100 % Subsidiary Investment holding Lin Ray Yang Enterprise Limited (“LRY”) November 13, 2003 British Virgin Islands 100 % Subsidiary Investment holding Shanghai XinJi Yang Real Estate Consultation Company Limited (“SHXJY”) August 20, 2001 PRC 100 % Subsidiary Property brokerage services Shanghai Shang Yang Investment Management Consultation Company Limited (“SHSY”) February 5, 2004 PRC 100 % Subsidiary Property brokerage services Suzhou Shang Yang Real Estate Consultation Company Limited (“SZSY”) November 24, 2006 PRC 75.25 % 1 Subsidiary Property brokerage and management services Suzhou Xi Ji Yang Real Estate Consultation Company Limited (“SZXJY”) June 25, 2004 PRC 75 % Subsidiary Property brokerage services Linyi Shangyang Real Estate Development Company Limited (“LYSY”) October 13, 2011 PRC 34 % 2 Subsidiary Real estate development Wuhan GaoFengHui Consultation Company Limited (“WHGFH”) November 10, 2010 PRC 60 % Subsidiary Property brokerage services Sanya Shang Yang Real Estate Consultation Company Limited (“SYSY”) September 18, 2008 PRC 100 % Subsidiary Property brokerage services Shanghai RuiJian Design Company Limited (“SHRJ”) August 15, 2011 PRC 100 % Subsidiary Property brokerage services Linyi Rui Lin Construction and Design Company Limited (“LYRL”) March 6, 2012 PRC 100 % Subsidiary Investment holding Shanghai XinJi Yang Real Estate Brokerage Company Limited (“SHXJYB”) January 28, 2013 PRC 75 % 3 Subsidiary Property brokerage services Wuhan Yuan Yu Long Real Estate Development Company Limited (“WHYYL”) December 28, 2009 PRC 49 % Equity investment Real estate development Zhong Ji Pu Fa Real Estate Company Limited (“SHGXL”) March 13, 2014 PRC 100 % Property development, leasing Shanghai Da Er Wei Trading Company Limited (“SHDEW”) June 6, 2013 PRC 19.91 % 4 Equity investment Import and export trading Shanghai HuiTian (“SHHT”) July 25, 2014 PRC 100 % Subsidiary Investment holding Huai’an Zhanbao Industrial Co., Ltd December 6, 2018 PRC 78.46 % Subsidiary Investment holding Huai’an Tianxi Real Estate Development Co., Ltd October 17, 2018 PRC 78.46 % Subsidiary Real estate development 1. After an equity transaction in February 2015, the Company held equity in subsidiaries of SZSY as follows: SZXJY 49%, SHXJY 26% and Sunrise Real Estate Development Group, Inc. (CY-SRRE) 12.5%, totaling 75.25% equity interest in SZSY. 2. The Company and a shareholder of LYSY, who holds 46% equity interest in LYSY, entered into a voting agreement that the Company is entitled to exercise the voting rights in respect of her 46% equity interest in LYSY. The Company effectively holds 80% voting rights in LYSY and therefore considers LYSY as a subsidiary of the Company. On May 27, 2020, LYRL received 10% of the issued and outstanding shares of LYSY from Nanjing Longchang Real Estate Development Group. LYRL owned 34% of LYSY following the purchase. 3. On January 28, 2013, CY-SRRE, SZXJY and an unrelated party established a subsidiary in the PRC, SHXJYB, with CY-SRRE holding 15% equity interest and SZXJY holding 60% equity interest in SHXYJB. 4. In December 2019, SHDEW had an employee stock bonus where its employees received their issued shares. This resulted in the dilution of our ownership of SHDEW from 20.38% to 19.91%.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Property and Equipment Estimated useful lives	Estimated Useful Life (in years) Furniture and fixtures 5‑10 Computer and office equipment 3‑5 Motor vehicles 5 Properties 20

OTHER RECEIVABLES AND DEPOSIT_2

OTHER RECEIVABLES AND DEPOSITS, NET (Tables)	12 Months Ended
OTHER RECEIVABLES AND DEPOSITS, NET (Tables)	Dec. 31, 2020
OTHER RECEIVABLES AND DEPOSITS, NET
Schedule of other receivables and deposit, net	December 31, December 31, 2020 2019 Advances to staff $ 37,573 $ 19,172 Rental deposits 818,868 40,575 Prepaid expense 53,558 318,424 Prepaid tax 9,777,311 2,378,199 Other receivables 3,908,933 4,779,431 $ 14,596,243 $ 7,535,801

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
PROPERTY AND EQUIPMENT, NET (Tables)	Dec. 31, 2020
PROPERTY AND EQUIPMENT, NET
Schedule of property and equipment, net	December 31, December 31, 2020 2019 Furniture and fixtures $ 272,878 $ 175,150 Computer and office equipment 210,961 203,581 Motor vehicles 819,945 588,532 Properties 2,318,728 2,168,726 3,622,512 3,135,990 Less: Accumulated depreciation 2,237,736 1,932,140 $ 1,384,776 $ 1,203,850

INVESTMENT PROPERTIES, NET (Tab

INVESTMENT PROPERTIES, NET (Tables)	12 Months Ended
INVESTMENT PROPERTIES, NET (Tables)	Dec. 31, 2020
INVESTMENT PROPERTIES, NET
Schedule of investment properties, net	December 31, December 31, 2020 2019 Investment properties $ 35,616,482 $ 33,312,403 Less: Accumulated depreciation (8,340,805) (6,363,357) $ 27,275,677 $ 26,949,046

AMOUNTS DUE TO DIRECTORS (Table

AMOUNTS DUE TO DIRECTORS (Tables)	12 Months Ended
AMOUNTS DUE TO DIRECTORS (Tables)	Dec. 31, 2020
RELATED PARTY TRANSACTIONS
Schedule of amount due to directors	December 31, December 31, 2020 2019 Lin Chi-Jung $ 23,387,151 $ 1,469,315 Pan Yu-Jen — (28,669) Lin Hsin-Hung 22,213 32,349 $ 23,409,364 $ 1,472,995 (a) The balance due to Lin Chi-Jung consists of temporary advances. The balances are unsecured, interest-free and have no fixed term of repayment. (b) The balances due to Lin Hsin-Hung was unsecured, interest-free and have no fixed term of repayment.

OTHER PAYABLES AND ACCRUED EX_2

OTHER PAYABLES AND ACCRUED EXPENSES (Tables)	12 Months Ended
OTHER PAYABLES AND ACCRUED EXPENSES (Tables)	Dec. 31, 2020
OTHER PAYABLES AND ACCRUED EXPENSES
Schedule of other payables and accrued expenses	December 31, December 31, 2020 2019 Accrued staff commission and bonus $ 241,718 $ 221,674 Rental deposits received 92,700 117,328 Bid bond 209,965 222,184 Other payables 7,836,075 13,777,035 Dividends payable to non-controlling interest 206,217 192,877 $ 8,586,675 $ 14,531,098

INCOME TAXES PAYABLE (Tables)

INCOME TAXES PAYABLE (Tables)	12 Months Ended
INCOME TAXES PAYABLE (Tables)	Dec. 31, 2020
INCOME TAXES PAYABLE
Schedule of income tax rate reduction	Year Ended December 31, 2020 2019 Income /(loss) before income tax expense Income /(loss) from China operations $ 913,264 $ (4,541,266) Income /(loss) from non-China operations (456,468) (362,615) Total income /(loss) before income tax expense 456,797 (4,903,881) Income tax expense applicable to China operations Current tax 710 1,427 Deferred tax (517,407) (385,472) Subtotal income tax expense applicable to China operations (516,697) (384,046) Non-China income tax expense/(benefit) 2,743,568 — Total income tax expense $ 2,226,871 $ (384,046)
Schedule of Effective Tax Rate	Effective Tax Rate The following is reconciliation between the U.S. federal statutory rate and the Company’s effective tax rate: 2020 2019 PRC Statutory rate 25 % 25 % Effect of the U.S. Transition Tax under the 2017 TCJA — % — % Effect of income not taxable for PRC tax purposes 0.08 % (17.2) % Under (Over)-provision for income taxes in prior years 0.0 % — % Effective income tax rate 487.50 % 7.83 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities consist of the following: As of December 31, 2020 2019 Deferred tax assets: Net operating loss from operations $ 955,373 $ 380,627 Total deferred tax assets 955,373 380,627 Less: Valuation allowance — — Net deferred tax assets $ 955,373 $ 380,627

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
Schedule of operating lease obligations maturity	As of December 31, 2020, the Company had the following operating lease obligations falling due. Amount Year Ending Within one year $ — Two to five years — $ —

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
SEGMENT INFORMATION (Tables)	Dec. 31, 2020
SEGMENT INFORMATION
Schedule of the company's operating segments	The following tables show the operations of the Company’s operating segments: Year Ended December 31, 2020 Property Brokerage Real Estate Investment Services Development Transaction Others Total Net revenues $ 750,101 $ 5,141,466 $ — $ — $ 5,891,567 Cost of revenues (1,137,718) (4,214,492) — — (5,352,210) Gross profit (387,617) 926,974 — — 539,357 Operating expenses (872,067) (2,826,998) — — (3,699,065) General and administrative expenses (22,856,012) (1,308,665) — (460,253) (24,624,930) Operating loss (24,115,696) (3,208,689) — (460,253) (27,784,638) Other income (expenses) Interest income 71,813 504,427 — 6,548 582,788 Interest expense (48) — — — (48) Other income, Net 883,416 16,021 24,286,623 — 25,186,060 Total other (expenses) income 955,181 520,448 24,286,623 6,548 25,768,800 Income (loss) before income taxes (23,160,515) (2,688,241) 24,286,623 (453,705) (2,015,838) Income tax 516,697 — — (2,743,568) (2,226,871) Net Income (loss) $ (22,643,818) $ (2,688,241) $ 24,286,623 $ (3,197,273) $ (4,242,709) Year Ended December 31, 2019 Property Brokerage Real Estate Investment Services Development Transaction Others Total Net revenues $ 721,491 $ 32,268,287 $ — $ — $ 32,989,778 Cost of revenues (695,952) (26,115,163) — — (26,811,115) Gross profit 25,539 6,153,124 — — 6,178,663 Operating expenses (1,215,372) (1,864,438) — (251) (3,080,061) General and administrative expenses (3,867,873) (5,798,119) — (381,013) (10,047,005) Operating loss (5,057,706) (1,509,433) — (381,264) (6,948,403) Other income (expenses) Interest income 41,269 99,224 — 11,267 151,760 Interest expense — — — — Other income, Net 128,338 (45,978) 1,810,402 — 1,892,762 Total other (expenses) income 169,607 53,246 1,810,402 11,267 2,044,522 Income (loss) before income taxes (4,888,100) (1,456,187) 1,810,402 (369,997) (4,519,835) Income tax 384,046 — — — 384,046 Net Income (loss) $ (4,504,054) $ (1,456,187) $ 1,810,402 $ (369,997) $ (4,519,835) Property Brokerage Real Estate Investment* Services Development Transaction Others Total As of December 31, 2020 Real estate property under development $ — $ 166,236,339 $ — $ — $ 166,236,339 Total assets 6,360,885 208,385,676 39,319,743 94,439,993 348,506,297 As of December 31, 2019 Real estate property under development $ — $ 85,909,986 $ — $ — $ 85,909,986 Total assets 9,756,530 70,345,062 40,737,782 66,443,870 187,283,244

ORGANIZATION AND DESCRIPTION _3

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	12 Months Ended
ORGANIZATION AND DESCRIPTION OF BUSINESS (Details)	Dec. 31, 2020
Sunrise Real Estate Development Group Inc [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Apr. 30, 2004
Subsidiaries, Place of Incorporation	Cayman Islands
Subsidiaries, % of Ownership held by the Company	100.00%
Subsidiaries, Principal activity	Investment holding
Lin Ray Yang Enterprise Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Nov. 13, 2003
Subsidiaries, Place of Incorporation	British Virgin Islands
Subsidiaries, % of Ownership held by the Company	100.00%
Subsidiaries, Principal activity	Investment holding
Shanghai Xin Ji Yang Real Estate Consultation Company Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Aug. 20, 2001
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	100.00%
Subsidiaries, Principal activity	Property brokerage services
Shanghai Shang Yang Real Estate consultation Company Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Feb. 5, 2004
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	100.00%
Subsidiaries, Principal activity	Property brokerage services
Suzhou Shang Yang Real Estate Consultation Company Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Nov. 24, 2006
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	75.25%
Subsidiaries, Principal activity	Property brokerage and management services
Suzhou Xi Ji Yang Real Estate Consultation Company Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Jun. 25, 2004
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	75.00%
Subsidiaries, Principal activity	Property brokerage services
Linyi Shangyang Real Estate Development Company Limited
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Oct. 13, 2011
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	34.00%
Subsidiaries, Principal activity	Real estate development
WHGFH
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Nov. 10, 2010
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	60.00%
Subsidiaries, Principal activity	Property brokerage services
Sanya Shang Yang Real Estate Consultation Company Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Sep. 18, 2008
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	100.00%
Subsidiaries, Principal activity	Property brokerage services
Shanghai Rui Jian Design Company Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Aug. 15, 2011
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	100.00%
Subsidiaries, Principal activity	Property brokerage services
Linyi Rui Lin Construction and Design Company Limited [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Mar. 6, 2012
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	100.00%
Subsidiaries, Principal activity	Investment holding
Shanghai XinJi Yang Real Estate Brokerage Company Limited
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Jan. 28, 2013
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	75.00%
Subsidiaries, Principal activity	Property brokerage services
Wuhan Yuan Yu Long Real Estate Development Company Limited [Member]
Organization And Description Of Business [Line Items]
Equity investment, Date of Incorporation	Dec. 28, 2009
Equity investment, Place of Incorporation	PRC
Equity investment, % of Ownership held by the Company	49.00%
Equity investment, Principal activity	Real estate development
Zhong Ji Pu Fa Real Estate Company Limited
Organization And Description Of Business [Line Items]
Equity investment, Date of Incorporation	Mar. 13, 2014
Equity investment, Place of Incorporation	PRC
Equity investment, % of Ownership held by the Company	100.00%
Equity investment, Principal activity	Property development, leasing
Shanghai Hui Tian [Member]
Organization And Description Of Business [Line Items]
Equity investment, Date of Incorporation	Jul. 25, 2014
Equity investment, Place of Incorporation	PRC
Equity investment, % of Ownership held by the Company	100.00%
Equity investment, Principal activity	Investment holding
SHDEW
Organization And Description Of Business [Line Items]
Equity investment, Date of Incorporation	Jun. 6, 2013
Equity investment, Place of Incorporation	PRC
Equity investment, % of Ownership held by the Company	19.91%
Equity investment, Principal activity	Import and export trading
Huai'an Zhanbao Industrial Co., Ltd [Member]
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Dec. 6, 2018
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	78.46%
Subsidiaries, Principal activity	Investment holding
Huai'an Tianxi Real Estate Development Co., Ltd
Organization And Description Of Business [Line Items]
Subsidiaries, Date of Incorporation	Oct. 17, 2018
Subsidiaries, Place of Incorporation	PRC
Subsidiaries, % of Ownership held by the Company	78.46%
Subsidiaries, Principal activity	Real estate development

ORGANIZATION AND DESCRIPTION _4

ORGANIZATION AND DESCRIPTION OF BUSINESS - Additional Information (Details)

Mar. 31, 2021item

May 27, 2020

Mar. 06, 2012

Oct. 13, 2011

May 08, 2006

Aug. 09, 2005

Oct. 05, 2004shares

Aug. 31, 2004shares

Dec. 31, 2020m²item

Dec. 31, 2019

Nov. 30, 2019

Mar. 31, 2019

Dec. 31, 2018m²

Oct. 31, 2018m²

Jun. 06, 2013

Jan. 28, 2013

Oct. 31, 2011m²

Sep. 24, 2007

Nov. 24, 2006

Jan. 10, 2005

Jun. 25, 2004

Linyi Project

Organization And Description Of Business [Line Items]

Ownership interest acquired

24.00%

Area of Land

103,385

Percentage of additional equity interest acquired (as a percent)

24.00%

Shareholder Of Szsy [Member]

Organization And Description Of Business [Line Items]

Percentage Of Equity Interest In Subsidiary Sold To Related Party

49.00%

Percentage Of Equity Interest In Subsidiary Transferred To Parent

26.00%

Ownership interest acquired

12.50%

Business Combination Transferred Equity Interest In Acquiree To Other Subsidiary

75.25%

Percentage of additional equity interest acquired (as a percent)

12.50%

Shareholder Of Lysy [Member]

Organization And Description Of Business [Line Items]

Percentage Of Equity Interest In Subsidiary Sold To Related Party

46.00%

Percentage Of Equity Interest In Subsidiary Transferred To Parent

80.00%

Ownership interest acquired

46.00%

Percentage of additional equity interest acquired (as a percent)

46.00%

Subsequent event [Member] | Phase 1 villas

Organization And Description Of Business [Line Items]

Number of units | item

679

Number of units pre sold | item

673

Subsequent event [Member] | Phase 2 North

Organization And Description Of Business [Line Items]

Number of units | item

873

Number of units pre sold | item

258

SHDEW

Organization And Description Of Business [Line Items]

Equity Method Investment, Ownership Percentage

19.91%

20.38%

Shareholder of SZXJY [Member]

Organization And Description Of Business [Line Items]

Ownership interest acquired

80.00%

90.00%

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

60.00%

Percentage of additional equity interest acquired (as a percent)

80.00%

90.00%

Shareholder of SHXJY [Member]

Organization And Description Of Business [Line Items]

Ownership interest acquired

26.00%

Percentage of additional equity interest acquired (as a percent)

26.00%

Shareholder of CY SRRE [Member]

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

15.00%

Suzhou Shang Yang Real Estate Consultation Company Limited [Member]

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

19.90%

Noncontrolling Interest, Ownership Percentage by Parent

75.25%

Percentage Of Equity Interest In Subsidiary Transferred To Other Shareholder

76.92%

Huai'an Zhanbao Industrial Co., Ltd [Member]

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Parent

78.46%

Linyi Rui Lin Construction and Design Company Limited [Member]

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Parent

100.00%

Linyi Rui Lin Construction and Design Company Limited [Member] | Nanjing Longchang Real Estate Development Group

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

34.00%

Percentage of issued and outstanding shares received

10.00%

Linyi Shangyang Real Estate Development Company Limited

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Parent

34.00%

Linyi Shangyang Real Estate Development Company Limited | SHDEW

Organization And Description Of Business [Line Items]

Ownership interest acquired

7.30%

Percentage of additional equity interest acquired (as a percent)

7.30%

SHSY | SHDEW

Organization And Description Of Business [Line Items]

Ownership interest acquired

12.60%

Percentage of additional equity interest acquired (as a percent)

12.60%

HAZB

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

78.46%

HAZB | Phase 1 villas

Organization And Description Of Business [Line Items]

Area of real estate property

82,218

Number of units | item

679

HAZB | Phase 2 North

Organization And Description Of Business [Line Items]

Area of real estate property

99,123

Number of units | item

873

HAZB | Huai'an Project

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Parent

78.46%

Area of real estate property

78,030

HATX

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners

100.00%

HATX | Huai'an Project

Organization And Description Of Business [Line Items]

Noncontrolling Interest, Ownership Percentage by Parent

100.00%

Area of real estate property

78,030

SZXJY [Member]

Organization And Description Of Business [Line Items]

Percentage Of Equity Interest In Subsidiary Sold To Related Party

10.00%

Percentage Of Equity Interest In Subsidiary Transferred To Parent

5.00%

Ownership interest acquired

75.00%

Percentage Of Equity Interest Sold

5.00%

Percentage of additional equity interest acquired (as a percent)

75.00%

SZXJY [Member] | Suzhou Shang Yang Real Estate Consultation Company Limited [Member]

Organization And Description Of Business [Line Items]

Ownership interest acquired

12.50%

Percentage of additional equity interest acquired (as a percent)

12.50%

SHXJY

Organization And Description Of Business [Line Items]

Percentage Of Equity Interest In Subsidiary Transferred To Parent

24.00%

HAZB

Organization And Description Of Business [Line Items]

Area of real estate property

78,030

HATX

Organization And Description Of Business [Line Items]

Area of real estate property

78,030

SRRE [Member]

Organization And Description Of Business [Line Items]

Stock Issued During Period, Shares, Acquisitions | shares

5,000,000

SZSY [Member]

Organization And Description Of Business [Line Items]

Ownership interest acquired

51.00%

Percentage of additional equity interest acquired (as a percent)

51.00%

Ace Develop Properties Limited [Member]

Organization And Description Of Business [Line Items]

Stock Issued During Period, Shares, Acquisitions | shares

8,500,000

System Tech [Member]

Organization And Description Of Business [Line Items]

Stock Issued During Period, Shares, Acquisitions | shares

750,000

Planet Tech [Member]

Organization And Description Of Business [Line Items]

Stock Issued During Period, Shares, Acquisitions | shares

750,000

10,000,000

SZGFH [Member]

Organization And Description Of Business [Line Items]

Ownership interest acquired

20.00%

80.00%

Percentage of voting rights acquired during the period

100.00%

Percentage of additional equity interest acquired (as a percent)

20.00%

80.00%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2012CNY (¥)	Dec. 31, 2012USD ($)	Dec. 31, 2020CNY (¥)	Dec. 31, 2020USD ($)	Dec. 31, 2019CNY (¥)	Dec. 31, 2019USD ($)
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Concentration Risk, Percentage	10.00%	10.00%
Foreign Currency Exchange Rate Translation					¥ 6.5249	$ 1	¥ 6.9762	$ 1
Real Estate Investment Property Estimated Useful Lives	20 years
Impairment of long-lived assets	$ 0	$ 0
Significant Influence Percentage Description	20.00%
Government Subsidies			¥ 33,175,416	$ 4,829,440
Proceeds From Government Subsidies	$ 5,079,835	$ 4,751,214

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2020
Furniture and fixtures \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Furniture and fixtures \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer and office equipment \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer and office equipment \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Motor vehicles
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Properties
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	20 years

RESTRICTED CASH (Details)

RESTRICTED CASH (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Short-term Debt [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	$ 56,051,055	$ 8,383,359

TRANSACTIONAL FINANCIAL ASSETS

TRANSACTIONAL FINANCIAL ASSETS (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Marketable Securities, Current	$ 25,012,736	$ 27,818,996
Bank Wealth Management Investment Products [Member]
Marketable Securities, Current	$ 25,012,736
Maximum \| Bank Wealth Management Investment Products [Member]
Investment Holdings, Annualized Rate Of Return	4.40%
Minimum \| Bank Wealth Management Investment Products [Member]
Investment Holdings, Annualized Rate Of Return	3.15%

REAL ESTATE PROPERTY UNDER DE_2

REAL ESTATE PROPERTY UNDER DEVELOPMENT (Details)	Mar. 31, 2021item	Dec. 31, 2020USD ($)m²item	Mar. 31, 2019	Dec. 31, 2018	Oct. 31, 2018m²	Oct. 31, 2011m²
Phase 1 villas \| Subsequent event [Member]
Real Estate Property Under Development [Line Items]
Number of villas sold	119
Total number of villas	121
Number of units	679
Number of units pre sold	673
Phase 1 villas \| HAZB
Real Estate Property Under Development [Line Items]
Area of real estate property \| m²		82,218
Number of units		679
Phase 2 North \| Subsequent event [Member]
Real Estate Property Under Development [Line Items]
Number of villas sold	71
Total number of villas	88
Number of units	873
Number of units pre sold	258
Phase 2 North \| HAZB
Real Estate Property Under Development [Line Items]
Area of real estate property \| m²		99,123
Number of units		873
Huai'an Project \| HAZB
Real Estate Property Under Development [Line Items]
Area of real estate property \| m²					78,030
Noncontrolling Interest, Ownership Percentage by Parent				78.46%
Huai'an Project \| HATX
Real Estate Property Under Development [Line Items]
Area of real estate property \| m²					78,030
Noncontrolling Interest, Ownership Percentage by Parent			100.00%
Linyi Project
Real Estate Property Under Development [Line Items]
Area of Land \| m²		103,385				103,385
Land use rights
Real Estate Property Under Development [Line Items]
Finite-Lived Intangible Assets, Net \| $		$ 166,236,339

OTHER RECEIVABLES AND DEPOSIT_3

OTHER RECEIVABLES AND DEPOSITS, NET (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
OTHER RECEIVABLES AND DEPOSITS, NET
Advances to staff	$ 37,573	$ 19,172
Rental deposits	818,868	40,575
Prepaid expense	53,558	318,424
Prepaid tax	9,777,311	2,378,199
Other receivables	3,908,933	4,779,431
Other Receivables and Deposit, Net	$ 14,596,243	$ 7,535,801

OTHER RECEIVABLES AND DEPOSIT_4

OTHER RECEIVABLES AND DEPOSITS, NET - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Other Receivables And Deposits [Line Items]
Allowance for Doubtful Other Receivables, Current	$ 503,814	$ 327,739
Other Receivables, Net, Current	3,908,933	$ 4,779,431
Shanghai Wu Zhao Hao
Other Receivables And Deposits [Line Items]
Other Receivables, Net, Current	3,462,504
Shanghai Wu Zhao Hao \| GXL Project
Other Receivables And Deposits [Line Items]
Other Receivables, Net, Current	858,250
Shanghai Wu Zhao Hao and Zhongji Pufa
Other Receivables And Deposits [Line Items]
Other Receivables, Net, Current	$ 2,604,254

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 3,622,512	$ 3,135,990
Less: Accumulated depreciation	(2,237,736)	(1,932,140)
Property, Plant and Equipment, Net	1,384,776	1,203,850
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	272,878	175,150
Computer and office equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	210,961	203,581
Motor vehicles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	819,945	588,532
Properties
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,318,728	$ 2,168,726

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 2,546,065	$ 1,674,980
Property and Equipment
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 3,199,986

INVESTMENT PROPERTIES, NET (Det

INVESTMENT PROPERTIES, NET (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
INVESTMENT PROPERTIES, NET
Investment properties	$ 35,616,482	$ 33,312,403
Less: Accumulated depreciation	(8,340,805)	(6,363,357)
Investment Properties, Net	$ 27,275,677	$ 26,949,046

INVESTMENT PROPERTIES, NET - Ad

INVESTMENT PROPERTIES, NET - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
INVESTMENT PROPERTIES, NET
Depreciation and amortization expense for investment properties	$ 2,936,213

INVESTMENT IN AND AMOUNT DUE _2

INVESTMENT IN AND AMOUNT DUE FROM UNCONSOLIDATED AFFILIATES (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2019
Investment In And Amount Due From An Unconsolidated Affiliate [Line Items]
Investments in unconsolidated affiliates (Note 9)	$ 13,610,330	$ 12,775,441
SHDEW
Investment In And Amount Due From An Unconsolidated Affiliate [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	19.91%
SHDEW
Investment In And Amount Due From An Unconsolidated Affiliate [Line Items]
Investments in unconsolidated affiliates (Note 9)	$ 13,579,678
Equity investment, % of Ownership held by the Company		19.91%	20.38%

OTHER INVESTMENTS, NET (Details

OTHER INVESTMENTS, NET (Details) ¥ in Thousands	12 Months Ended
OTHER INVESTMENTS, NET (Details) ¥ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2020	Apr. 04, 2020CNY (¥)	Apr. 04, 2020USD ($)
Cost Method Investments	$ 696,677	$ 143,345
Impairment loss on other investments	0	0
Amount invested	13,610,330	12,775,441
Accounting Standards Update 2016-01 [Member]
Cost Method Investments	$ 696,677	$ 143,345
Taobuting
Equity investment, % of Ownership held by the Company			7.0915%
Linyi Shangyang Real Estate Development Company Limited \| Nanjing Longchang Real Estate Development Group
Equity investment, % of Ownership held by the Company				10.00%	10.00%
Amount invested				¥ 22,170	$ 3,398,213

GOODWILL (Details)

GOODWILL (Details) ¥ in Thousands	Dec. 31, 2020USD ($)	Jun. 30, 2020	Apr. 04, 2020CNY (¥)	Apr. 04, 2020USD ($)	Dec. 31, 2019USD ($)
Goodwill [Line Items]
Amount invested	$ 13,610,330				$ 12,775,441
Goodwill	$ 1,690,029				$ 0
Taobuting
Goodwill [Line Items]
Equity investment, % of Ownership held by the Company		7.0915%
Nanjing Longchang Real Estate Development Group \| Linyi Shangyang Real Estate Development Company Limited
Goodwill [Line Items]
Equity investment, % of Ownership held by the Company			10.00%	10.00%
Amount invested			¥ 22,170	$ 3,398,213

PROMISSORY NOTES PAYABLE (Detai

PROMISSORY NOTES PAYABLE (Details) - USD ($)	12 Months Ended
PROMISSORY NOTES PAYABLE (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest expenses related to promissory notes	$ 0	$ 0
Unsecured Notes Payable One [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	1,532,591	1,433,445
Unsecured Notes Payable Two [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	766,295	$ 716,723
Debt Instrument, Face Amount	$ 766,295
Debt Instrument, Interest Rate, Stated Percentage	0.00%

AMOUNTS DUE TO DIRECTORS (Detai

AMOUNTS DUE TO DIRECTORS (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Amounts due to directors	$ 23,409,364	$ 1,472,995
Lin Chi-Jung
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Amounts due to directors	23,387,151	1,469,315
Pan Yu-Jen
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Amounts due to directors		(28,669)
Lin Hsin-Hung
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Amounts due to directors	$ 22,213	$ 32,349

ACCOUNTS PAYABLE (Details)

ACCOUNTS PAYABLE (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Other Payables And Accrued Expenses [Line Items]
Accounts Payable, Current	$ 20,448,001	$ 4,347,678
Linyi Project
Other Payables And Accrued Expenses [Line Items]
Unpaid Project Development Fees	1,608,872
HATX Project
Other Payables And Accrued Expenses [Line Items]
Unpaid Project Development Fees	$ 17,466,356

CUSTOMER DEPOSITS (Details)

CUSTOMER DEPOSITS (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Customer Deposits, Current	$ 116,163,946	$ 21,702,494
Linyi Project
Customer Deposits, Current	27,157,760
HATX Project
Customer Deposits, Current	$ 88,897,550

AMOUNT DUE TO AFFILIATES (Detai

AMOUNT DUE TO AFFILIATES (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Due to Affiliate, Current	$ 31,438,576	$ 504,802
JXSY
Related Party Transaction [Line Items]
Due to Affiliate, Current	539,165
SHSJ, a shareholder of HATX
Related Party Transaction [Line Items]
Due to Affiliate, Current	$ 30,899,411

OTHER PAYABLES AND ACCRUED EX_3

OTHER PAYABLES AND ACCRUED EXPENSES (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
OTHER PAYABLES AND ACCRUED EXPENSES
Accrued staff commission and bonus	$ 241,718	$ 221,674
Rental deposits received	92,700	117,328
Bid bond	209,965	222,184
Other payables	7,836,075	13,777,035
Dividends payable to non-controlling interest	206,217	192,877
Other payables and accrued expenses	$ 8,586,675	$ 14,531,098

INCOME TAXES PAYABLE (Details)

INCOME TAXES PAYABLE (Details) - USD ($)	3 Months Ended	12 Months Ended
INCOME TAXES PAYABLE (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Income tax expense applicable to China operations
Current tax		$ 456,797	$ (4,903,881)
Income tax expense	$ 0	2,226,871	(384,046)
Prc Corporate [Member]
Income /(loss) before income tax expense
Income /(loss) before income tax expense		913,264	(4,541,266)
Income tax expense applicable to China operations
Current tax		710	1,427
Deferred tax		(517,407)	(385,472)
Income tax expense		(516,697)	(384,046)
Non-China Operations [Member]
Income /(loss) before income tax expense
Income /(loss) before income tax expense		(456,468)	(362,615)
Income tax expense applicable to China operations
Income tax expense		$ 2,743,568	$ 0

INCOME TAXES PAYABLE - Effectiv

INCOME TAXES PAYABLE - Effective Tax Rate (Details)	12 Months Ended
INCOME TAXES PAYABLE - Effective Tax Rate (Details)	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES PAYABLE
PRC Statutory rate	25.00%	25.00%
Effect of income not taxable for PRC tax purposes	0.08%	(17.20%)
Under (Over)-provision for income taxes in prior years	0.00%
Effective income tax rate	487.50%	7.83%

INCOME TAXES PAYABLE - Deferred

INCOME TAXES PAYABLE - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss from operations	$ 955,373	$ 380,627
Total deferred tax assets	955,373	380,627
Less: Valuation allowance	0	0
Net deferred tax assets	$ 955,373	$ 380,627

INCOME TAXES PAYABLE - Addition

INCOME TAXES PAYABLE - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Income Tax Payable [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		25.00%	25.00%
Income Tax Expense (Benefit)	$ 0	$ 2,226,871	$ (384,046)
Operating Loss Carryforwards, Valuation Allowance	$ 0	955,373	$ 380,627
CHINA
Income Tax Payable [Line Items]
Income Tax Expense (Benefit)		$ 456,468

DEFERRED GOVERNMENT SUBSIDY (De

DEFERRED GOVERNMENT SUBSIDY (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
DEFERRED GOVERNMENT SUBSIDY
Deferred government subsidy	$ 5,079,835	$ 4,751,214

STATUTORY RESERVE (Details)

STATUTORY RESERVE (Details) - USD ($)	12 Months Ended
STATUTORY RESERVE (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Statutory Accounting Practices [Line Items]
Statutory reserve	$ 3,986,618	$ 3,194,604
Prc Corporate [Member]
Statutory Accounting Practices [Line Items]
Minimum Percentage Of Profits After Tax To Be Transferred To Statutory Reserve	10.00%
Statutory Reserve Maintenance Required, Percentage On Registered Capital	50.00%
Prc Subsidiary [Member]
Statutory Accounting Practices [Line Items]
Minimum Percentage Of Profits After Tax To Be Transferred To Statutory Reserve	10.00%
Statutory Reserve Maintenance Required, Percentage On Registered Capital	50.00%
Statutory reserve	$ 3,986,618

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details)	Dec. 31, 2020USD ($)
COMMITMENTS AND CONTINGENCIES
Within one year	$ 0
Two to five years	0
Operating lease obligations	$ 0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
Rental expenses under operating lease	$ 225,008	$ 460,617

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended	12 Months Ended
SEGMENT INFORMATION (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net revenues		$ 5,891,567	$ 32,989,778
Cost of revenues		(5,352,210)	(26,811,115)
Gross profit		539,357	6,178,663
Operating expenses		(3,699,065)	(3,080,061)
General and administrative expenses		(24,624,930)	(10,047,005)
Operating loss		(27,784,638)	(6,948,403)
Other income (expenses)
Interest income		582,788	151,760
Other income, Net		25,186,060	1,892,762
Total other (expenses) income		25,768,800	2,044,522
Income tax	$ 0	(2,226,871)	384,046
Net Income( loss)		(4,242,709)	(4,519,835)
Total assets		348,506,297	187,283,244
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues		5,891,567	32,989,778
Cost of revenues		(5,352,210)	(26,811,115)
Gross profit		539,357	6,178,663
Operating expenses		(3,699,065)	(3,080,061)
General and administrative expenses		(24,624,930)	(10,047,005)
Operating loss		27,784,638	6,948,403
Other income (expenses)
Interest income		582,788	151,760
Interest expense		48	0
Other income, Net		(25,186,060)	(1,892,762)
Total other (expenses) income		25,768,800	2,044,522
Income (loss) before income taxes		(2,015,838)	(4,519,835)
Income tax		(2,226,871)	384,046
Net Income( loss)		(4,242,709)	(4,519,835)
Real estate property under development		166,236,339	85,909,986
Total assets		348,506,297	187,283,244
Property Brokerage Services [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues		750,101	721,491
Cost of revenues		(1,137,718)	(695,952)
Gross profit		(387,617)	25,539
Operating expenses		(872,067)	(1,215,372)
General and administrative expenses		(22,856,012)	(3,867,873)
Operating loss		24,115,696	5,057,706
Other income (expenses)
Interest income		71,813	41,269
Interest expense		48	0
Other income, Net		(883,416)	(128,338)
Total other (expenses) income		955,181	169,607
Income (loss) before income taxes		(23,160,515)	(4,888,100)
Income tax		516,697	384,046
Net Income( loss)		(22,643,818)	(4,504,054)
Real estate property under development		0	0
Total assets		6,360,885	9,756,530
Real Estate Development [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues		5,141,466	32,268,287
Cost of revenues		(4,214,492)	(26,115,163)
Gross profit		926,974	6,153,124
Operating expenses		(2,826,998)	(1,864,438)
General and administrative expenses		(1,308,665)	(5,798,119)
Operating loss		3,208,689	1,509,433
Other income (expenses)
Interest income		504,427	99,224
Interest expense		0	0
Other income, Net		(16,021)	45,978
Total other (expenses) income		520,448	53,246
Income (loss) before income taxes		(2,688,241)	(1,456,187)
Income tax		0	0
Net Income( loss)		(2,688,241)	(1,456,187)
Real estate property under development		166,236,339	85,909,986
Total assets		208,385,676	70,345,062
Investment Transaction [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues		0	0
Cost of revenues		0	0
Gross profit		0	0
Operating expenses		0	0
General and administrative expenses		0	0
Operating loss		0	0
Other income (expenses)
Interest income		0	0
Interest expense		0	0
Other income, Net		(24,286,623)	(1,810,402)
Total other (expenses) income		24,286,623	1,810,402
Income (loss) before income taxes		24,286,623	1,810,402
Income tax		0	0
Net Income( loss)		24,286,623	1,810,402
Real estate property under development		0	0
Total assets		39,319,743	40,737,782
Other Segments [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenues		0	0
Cost of revenues		0	0
Gross profit		0	0
Operating expenses		0	(251)
General and administrative expenses		(460,253)	(381,013)
Operating loss		460,253	381,264
Other income (expenses)
Interest income		6,548	11,267
Interest expense		0	0
Other income, Net		0	0
Total other (expenses) income		6,548	11,267
Income (loss) before income taxes		(453,705)	(369,997)
Income tax		(2,743,568)	0
Net Income( loss)		(3,197,273)	(369,997)
Real estate property under development		0	0
Total assets		$ 94,439,993	$ 66,443,870

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	12 Months Ended
RELATED PARTY TRANSACTIONS (Details)	Dec. 31, 2020USD ($)m²
SHDEW
Related Party Transaction [Line Items]
Dividends received	$ 24,244,813
Mrs. Zhang Shuqing \| Rent expense
Related Party Transaction [Line Items]
Square meters rented \| m²	192
Related party transaction	$ 183,910
WHYYL \| WHGFH \| Revenue of sales service fee
Related Party Transaction [Line Items]
Related party transaction	$ 5,783

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent event [Member]	Mar. 03, 2021CNY (¥)	Jan. 27, 2021CNY (¥)	Jun. 10, 2021$ / shares	Mar. 03, 2021USD ($)	Jan. 27, 2021USD ($)
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share			$ 0.10
SHDEW
Subsequent Event [Line Items]
Bonus Amount Equivalent To Percentage Of Annual Dividend	15	15
Lin Chi-Jung
Subsequent Event [Line Items]
Bonus Paid In Cash	¥ 150,000,000	¥ 150,000,000		$ 21,167,305	$ 21,167,305