XML 44 R31.htm IDEA: XBRL DOCUMENT v2.4.1.9
ORGANIZATION AND DESCRIPTION OF BUSINESS (Tables)
12 Months Ended
Dec. 31, 2013
Organization and Description Of Business [Abstract]  
Consolidation Entities Nature Of Business [Table Text Block]
As of December 31, 2013, 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 Xin Ji Yang Real Estate Consultation Company Limited (“SHXJY”)
 
August 20, 2001
 
PRC
 
100%
 
Subsidiary
 
Property brokerage services
 
Shanghai Shang Yang Investment Management and Consulting Company Limited (“SHSY”) ***
 
February 5, 2004
 
PRC
 
100%
 
Subsidiary
 
Property brokerage services, investment management and consulting
 
Suzhou Gao Feng Hui Property Management Company Limited (“SZGFH”)
 
January 10, 2005
 
PRC
 
100%
 
Subsidiary
 
Property management and leasing services
 
Suzhou Shang Yang Real Estate Consultation Company Limited (“SZSY”)
 
November 24, 2006
 
PRC
 
38.5%*
 
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
 
24%**
 
Subsidiary
 
Real estate development
 
Shangqiu Shang Yang Real Estate Consultation Company Limited (“SQSY”)
 
October 20, 2010
 
PRC
 
100%
 
Subsidiary
 
Property brokerage services
 
Wuhan Gao Feng Hui 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 Rui Jian 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
 
Putian Xin Ji Yang Real Estate Consultation Company Limited (“PTXJY”)
 
June 5, 2012
 
PRC
 
100%
 
Subsidiary
 
Property brokerage services
 
Wuhan Yuan Yu Long Real Estate Development Company Limited (“WHYYL”)
 
December 28, 2009
 
PRC
 
49%
 
Equity investment
 
Real estate development
 
Shanghai Xin Xing Yang Real Estate Brokerage Company Limited (“SHXXY”)
 
September 28, 2011
 
PRC
 
40%
 
Equity investment
 
Property brokerage services
 
Xin Guang Investment Management and Consulting Company Limited (“XG”)
 
December 17, 2012
 
PRC
 
49%
 
Equity investment
 
Investment management and consulting
 
 
*
The Company and a shareholder of SZSY, which holds 12.5% equity interest in SZSY, entered into a voting agreement that the Company is entitled to exercise the voting rights in respect of the shareholder’s 12.5% equity interest in SZSY. The Company effectively holds 51% voting rights in SZSY and therefore considers SZSY as a subsidiary of the Company.
**
The Company and a shareholder of LYSY, which holds 51% equity interest in LYSY, entered into a voting agreement that the Company is entitled to exercise the voting rights in respect of her 51% equity interest in LYSY. The Company effectively holds 75% voting rights in LYSY and therefore considers LYSY as a subsidiary of the Company.
***
It was formerly known as Shanghai Shang Yang Real Estate Consultation Co., Limited. The company changed its name to Shanghai Shang Yang Investment Management and Consulting Company Limited and extended its principal activities to investment management and consulting on May 28, 2013.