2007'02.01.Thu
Sunrise Real Estate Development Group, Inc. Reports eps $0.10 for 2005, net Income & Revenues up Significantly

April 06, 2006

Successful Co-investment Project in Suzhou is a Major Contributor to Revenues and net Income in 2005
SHANGHAI, China, April 6 /Xinhua-PRNewswire/ -- Sunrise Real Estate Development Group, Inc. (OTC.BB: SRRE; Website: http://www.sunrise.sh) The first China based, primary real estate marketer to be quoted on the U.S. OTC Bulletin Board, today announced that it achieved record net income and revenues in 2005. The Company had a successful year both in agency sales and co-investment operations. The following are the key financial highlights for the Year Ended December 31, 2005, from the company's Form 10-KSB filed with the Securities and Exchange Commission (SEC) on March 31, 2006: 2005 FINANCIAL HIGHLIGHTS -- Net revenues increased 41% to $10.9 million from $7.7 million in 2004. -- Net revenues from agency sales represent $6.5 million (or 60% of total), and co-investment operations represent $4.4 million (or 40% of total). -- Gross profit increased 111% to $7.5 million from $3.6 million in 2004. -- Net income increased to $2.1 million from $63,944 in 2004. -- Earnings per share increased to $0.10 per share from less than one cent in 2004. Kevin Lin, Chief Executive Officer of Sunrise, commented, "We are pleased with our 2005 financial results, and we are poised to benefit from the growing economy of China. We are especially excited about completing our first co-investment project successfully." 2005 OPERATIONAL HIGHLIGHTS -- Sunrise signed 16 new agency sales contracts in 2005. -- Sunrise agency operations have sold 100 thousand square meters of residential real estate property in 2005. -- The Company completed its first co-investment project with the Sovereign Building, a commercial and office space structure in Suzhou. 2006 OUTLOOK Commenting on the Company's outlook for 2006, Kevin Lin, CEO said, "Our co-investment model and the experience gained from the Suzhou Property will contribute significantly to our future growth. We intend to enter co-investment agreements, especially on residential projects in 2006." Senior Vice President, Robert Lin said, "The softening of the China real estate market helps our agency sales operation because developers rely more upon specialized marketing companies like Sunrise. We expect to see this trend continue in 2006." COMPANY BACKGROUND Sunrise Real Estate Development Group, Inc is a publicly traded real estate marketing and co-investment company that operates exclusively in China. View Harbinger Research report about Sunrise and Standard & Poors Market Access coverage through links in the Company's website: http://www.sunrise.sh SAFE HARBOR STATEMENT The common stock of Sunrise Real Estate Development Group, Inc. is listed on the OTC Bulletin Board under the trading symbol "SRRE". This press release contains forward-looking information within the meaning of Section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forwarding-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished. For more information, please contact: Vivian Zhang, Sunrise Real Estate Development Group, Inc. Tel: +86-21-6422-0505 x840 Email: ir@sunrise-sh.net Site: http://www.sunrise.sh SOURCE Sunrise Real Estate Development Group, Inc
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