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 . the historical financial statements prior to october 5 , 2004 are those of cy-srre and lry and their subsidiaries . all equity information and per share data prior to the acquisition have been restated to reflect the stock issuance as a recapitalization of cy-srre and lry . srre and its subsidiaries , namely , cy-srre , lry , shanghai xin ji yang real estate consultation company limited ( “ shxjy ” ) , shanghai shang yang investment management and consulting company limited ( “ shsy ” ) , suzhou shang yang real estate consultation company limited ( “ szsy ” ) , suzhou xin ji yang real estate consultation company limited ( “ szxjy ” ) , linyi rui lin construction and design company limited ( “ lyrl ” ) , linyi shang yang real estate development company limited ( “ lysy ” ) , , wuhan gao feng hui consultation company limited ( “ whgfh ” ) , sanya shang yang real estate consultation company limited ( “ sysy ” ) , shanghai rui jian design company limited ( “ shrj ” ) , zhong ji pu fa real estate company limited ( “ shgxl ” ) ， huai an zhan bao industrial company limited ( “ hazb ” ) and its equity investments in affiliates , namely wuhan yuan yu long real estate development company limited ( “ whyyl ” ) , are sometimes hereinafter collectively referred to as “ the company , ” “ our ” or “ us ” . the principal activities of the company are real estate agency sales , real estate marketing services , real estate investments , property leasing services and property management services in the prc . risks associated with forward-looking statements included in this form 10-k in addition to historical information , this form 10-k contains forward-looking statements . forward-looking statements are based on our current beliefs and expectations , information currently available to us , estimates and projections about our industry , and certain assumptions made by our management . these statements are not historical facts . we use words such as `` anticipates `` , `` expects `` , `` intends `` , `` plans `` , `` believes `` , `` seeks `` , `` estimates `` , and similar expressions to identify our forward-looking statements , which include , among other things , our anticipated revenue and cost of our agency and investment business . because we are unable to control or predict many of the factors that will determine our future performance and financial results , including future economic , competitive , and market conditions , our forward-looking statements are not guarantees of future performance . they are subject to risks , uncertainties , and errors in assumptions that could cause our actual results to differ materially from those reflected in our forward-looking statements . we believe that the assumptions underlying our forward-looking statements are reasonable . however , the investor should not place undue reliance on these forward-looking statements . they only reflect our view and expectations as of the date of this form 10-k. we undertake no obligation to publicly update or revise any forward-looking statement in light of new information , future events , or other occurrences . 20 there are several risks and uncertainties , including those relating to our ability to raise money and grow our business and potential difficulties in integrating new acquisitions with our current operations , especially as they pertain to foreign markets and market conditions . these risks and uncertainties can materially affect the results predicted . the company 's future operating results over both the short and long term will be subject to annual and quarterly fluctuations due to several factors , some of which are outside our control . these factors include but are not limited to fluctuating market demand for our services , and general economic conditions . 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 . story_separator_special_tag 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 . as of december 31 , 20 20 , the balance of deferred government subsidy was $ 5,079,835 ( 2019 : $ 4,751,214 ) . the subsidy is given to reimburse the land acquisition costs and certain construction costs incurred for the company 's property development project and are repayable if the company fails to complete the subsidized property development project by the agreed date . the company recorded the subsidy received as a deferred government subsidy results of operations we provide the following discussion and analyses of our changes in financial condition and results of operations for the year ended december 31 , 20 20 with comparisons to the historical year ended december 31 , 2019. net revenues the following table shows the detail for net revenues by line of business : replace_table_token_4_th the net revenue for 20 20 was $ 5,891,568 , a decrease of 82 % from $ 32,989,778 in 2019. in 2020 , property management and house sales represented 18 % , and 82 % of our total net revenue . the decrease in 2020 was mainly due to the net revenue recognized for the gxl project in 2019 and less recognized in amount of the linyi project in 2020. agency sales in 20 20 , there are no net revenues of agency sales . as compared with 2019 , net revenue of agency sales in 2020 decreased by 100 % . the decrease was mainly due to non-sales collection of projects during this year . government policies enacted in 2018 as well as similar subsequent policies aiming to stabilize real estate prices affected many businesses in the real estate industry . these restrictive policies had a substantial effect in our real estate sales revenue . we are continually seeking stable growth in our real estate sales business in 202 1. however , there can be no assurance that we will be able to do so . property management property management represented 18 % of our revenue in year of 2020 and revenue from property management increased by 82 % compared with 2019 . 23 house sales house sales represented 82 % of our revenue in year of 2020. the company has recognized a proportion of net revenue from linyi project . cost of revenues the following table shows the cost of revenues detail by line of business : replace_table_token_5_th the cost of revenues for 20 20 was $ 5,352,210 , a decrease of 80 % from $ 26,811,115 for 2019. in 2020 , property management and house sales represented 32 % , and 68 % of total cost of revenues . the decrease in cost of revenues is mainly due to the recognition of cost of revenue of house sales from the gxl project in 2019 and less in amount of the linyi project recognized in 2020. agency sales in 20 20 , there was no cost of net revenues of agency sales . as compared with 2019 , the cost decreased by 100 % . the decrease was mainly due to no sales project operation of projects during this year . property management the cost of revenue from property management for 20 20 was $ 1,705,765 , an increase from $ 1,256,678 for 2019. house sales house sales represented 68 % of our cost of revenue in year of 2020. the company has recognized its cost of revenue from the linyi project at a certain proportion . operating expenses the following table shows operating expenses detailed by line of business : replace_table_token_6_th the operating expenses for 20 20 were $ 3,699,065 , an increase from $ 3,080,061 in 2019. in 2020 , the expenses related to agency sales , property management , and house sales represented 0 % , 40 % , and 60 % of the total operating expenses . agency sales in 20 20 , there are no operating expenses of agency sales , which decreased by 100 % compared to 2019. the primary reason for the decrease in 2020 was that there was no operating expenses of agency sales . property management compared to 201 9 , the operating expenses for property management increased by 22 % compared to the amount in 2020. the primary reason for the increase was due to relevant consulting service costs and property renewing cost . 24 house sales the operating expenses related to our house sales business in 20 20 increased by 26 % compared to 2019. this increase was mainly due to the increase in our sales promotion activities in hatx project and linyi project . general and administrative expenses the general and administrative expenses in 20 20 were $ 24,624,930 , which was a 145 % increase from $ 10,047,005 in 2019. the primary reason for the increase was due to the accrued bonus.to be paid to mr. lin of $ 21,167,305. operating loss in 20 20 , we had an operating loss of $ 27,784,638 , representing an increased loss from an operating loss of $ 6,948,403 in 2019. the increase in loss was mainly due to the accrued bonus to be paid to mr. lin chi-jung of $ 21,167,305 other income , net other income in 2020 was $ 25,186,060. we have dividends received from shdew this year . major related party transaction 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 . amount due to

liquidity and capital resources in 20 20 , our principal sources of cash were revenues from our receipts in advance from real estate development projects , property management business , as well as the dividend distribution from our affiliates . most of our cash resources were used to fund our property development investment and revenue related expenses , such as salaries and commissions paid to the sales force , daily administrative expenses and the maintenance of regional offices . we ended the period with a cash position of $ 40,369,612. net cash provided in the company 's operating activities in 2020 was $ 18,593,966 , representing an increase of receipts in cash in the amount of $ 68,289,069 as compared to the cash used for 2019. the increase was primarily attributable to the increase in cash provided in the receipts in advance of the hatx project and linyi project of $ 87,703,469 . 25 net cash provided by the company 's investment activities was $ 26,066,084 , representing a decrease of $ 33,893,719 as compared to the cash received in investing activities for 2019. the increase in cash from investment activities was primarily attributable to the increase in cash provided in dividend distribution from shdew , an affiliate , of $ 23,869,057 in 2020. net cash used by the company 's financing activities was $ 20,317,596 , representing an increase from $ 13,813,992 in 2019. this increase was primarily attributable to restricted cash of $ 44,425,035. the cash needs for 202 1 were for the funds required to finance the company 's future projects in property agency and real estate developments .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources in 20 20 , our principal sources of cash were revenues from our receipts in advance from real estate development projects , property management business , as well as the dividend distribution from our affiliates . most of our cash resources were used to fund our property development investment and revenue related expenses , such as salaries and commissions paid to the sales force , daily administrative expenses and the maintenance of regional offices . we ended the period with a cash position of $ 40,369,612. net cash provided in the company 's operating activities in 2020 was $ 18,593,966 , representing an increase of receipts in cash in the amount of $ 68,289,069 as compared to the cash used for 2019. the increase was primarily attributable to the increase in cash provided in the receipts in advance of the hatx project and linyi project of $ 87,703,469 . 25 net cash provided by the company 's investment activities was $ 26,066,084 , representing a decrease of $ 33,893,719 as compared to the cash received in investing activities for 2019. the increase in cash from investment activities was primarily attributable to the increase in cash provided in dividend distribution from shdew , an affiliate , of $ 23,869,057 in 2020. net cash used by the company 's financing activities was $ 20,317,596 , representing an increase from $ 13,813,992 in 2019. this increase was primarily attributable to restricted cash of $ 44,425,035. the cash needs for 202 1 were for the funds required to finance the company 's future projects in property agency and real estate developments .
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 Suspicious Activity Report : 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 . the historical financial statements prior to october 5 , 2004 are those of cy-srre and lry and their subsidiaries . all equity information and per share data prior to the acquisition have been restated to reflect the stock issuance as a recapitalization of cy-srre and lry . srre and its subsidiaries , namely , cy-srre , lry , shanghai xin ji yang real estate consultation company limited ( “ shxjy ” ) , shanghai shang yang investment management and consulting company limited ( “ shsy ” ) , suzhou shang yang real estate consultation company limited ( “ szsy ” ) , suzhou xin ji yang real estate consultation company limited ( “ szxjy ” ) , linyi rui lin construction and design company limited ( “ lyrl ” ) , linyi shang yang real estate development company limited ( “ lysy ” ) , , wuhan gao feng hui consultation company limited ( “ whgfh ” ) , sanya shang yang real estate consultation company limited ( “ sysy ” ) , shanghai rui jian design company limited ( “ shrj ” ) , zhong ji pu fa real estate company limited ( “ shgxl ” ) ， huai an zhan bao industrial company limited ( “ hazb ” ) and its equity investments in affiliates , namely wuhan yuan yu long real estate development company limited ( “ whyyl ” ) , are sometimes hereinafter collectively referred to as “ the company , ” “ our ” or “ us ” . the principal activities of the company are real estate agency sales , real estate marketing services , real estate investments , property leasing services and property management services in the prc . risks associated with forward-looking statements included in this form 10-k in addition to historical information , this form 10-k contains forward-looking statements . forward-looking statements are based on our current beliefs and expectations , information currently available to us , estimates and projections about our industry , and certain assumptions made by our management . these statements are not historical facts . we use words such as `` anticipates `` , `` expects `` , `` intends `` , `` plans `` , `` believes `` , `` seeks `` , `` estimates `` , and similar expressions to identify our forward-looking statements , which include , among other things , our anticipated revenue and cost of our agency and investment business . because we are unable to control or predict many of the factors that will determine our future performance and financial results , including future economic , competitive , and market conditions , our forward-looking statements are not guarantees of future performance . they are subject to risks , uncertainties , and errors in assumptions that could cause our actual results to differ materially from those reflected in our forward-looking statements . we believe that the assumptions underlying our forward-looking statements are reasonable . however , the investor should not place undue reliance on these forward-looking statements . they only reflect our view and expectations as of the date of this form 10-k. we undertake no obligation to publicly update or revise any forward-looking statement in light of new information , future events , or other occurrences . 20 there are several risks and uncertainties , including those relating to our ability to raise money and grow our business and potential difficulties in integrating new acquisitions with our current operations , especially as they pertain to foreign markets and market conditions . these risks and uncertainties can materially affect the results predicted . the company 's future operating results over both the short and long term will be subject to annual and quarterly fluctuations due to several factors , some of which are outside our control . these factors include but are not limited to fluctuating market demand for our services , and general economic conditions . 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 . story_separator_special_tag 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 . as of december 31 , 20 20 , the balance of deferred government subsidy was $ 5,079,835 ( 2019 : $ 4,751,214 ) . the subsidy is given to reimburse the land acquisition costs and certain construction costs incurred for the company 's property development project and are repayable if the company fails to complete the subsidized property development project by the agreed date . the company recorded the subsidy received as a deferred government subsidy results of operations we provide the following discussion and analyses of our changes in financial condition and results of operations for the year ended december 31 , 20 20 with comparisons to the historical year ended december 31 , 2019. net revenues the following table shows the detail for net revenues by line of business : replace_table_token_4_th the net revenue for 20 20 was $ 5,891,568 , a decrease of 82 % from $ 32,989,778 in 2019. in 2020 , property management and house sales represented 18 % , and 82 % of our total net revenue . the decrease in 2020 was mainly due to the net revenue recognized for the gxl project in 2019 and less recognized in amount of the linyi project in 2020. agency sales in 20 20 , there are no net revenues of agency sales . as compared with 2019 , net revenue of agency sales in 2020 decreased by 100 % . the decrease was mainly due to non-sales collection of projects during this year . government policies enacted in 2018 as well as similar subsequent policies aiming to stabilize real estate prices affected many businesses in the real estate industry . these restrictive policies had a substantial effect in our real estate sales revenue . we are continually seeking stable growth in our real estate sales business in 202 1. however , there can be no assurance that we will be able to do so . property management property management represented 18 % of our revenue in year of 2020 and revenue from property management increased by 82 % compared with 2019 . 23 house sales house sales represented 82 % of our revenue in year of 2020. the company has recognized a proportion of net revenue from linyi project . cost of revenues the following table shows the cost of revenues detail by line of business : replace_table_token_5_th the cost of revenues for 20 20 was $ 5,352,210 , a decrease of 80 % from $ 26,811,115 for 2019. in 2020 , property management and house sales represented 32 % , and 68 % of total cost of revenues . the decrease in cost of revenues is mainly due to the recognition of cost of revenue of house sales from the gxl project in 2019 and less in amount of the linyi project recognized in 2020. agency sales in 20 20 , there was no cost of net revenues of agency sales . as compared with 2019 , the cost decreased by 100 % . the decrease was mainly due to no sales project operation of projects during this year . property management the cost of revenue from property management for 20 20 was $ 1,705,765 , an increase from $ 1,256,678 for 2019. house sales house sales represented 68 % of our cost of revenue in year of 2020. the company has recognized its cost of revenue from the linyi project at a certain proportion . operating expenses the following table shows operating expenses detailed by line of business : replace_table_token_6_th the operating expenses for 20 20 were $ 3,699,065 , an increase from $ 3,080,061 in 2019. in 2020 , the expenses related to agency sales , property management , and house sales represented 0 % , 40 % , and 60 % of the total operating expenses . agency sales in 20 20 , there are no operating expenses of agency sales , which decreased by 100 % compared to 2019. the primary reason for the decrease in 2020 was that there was no operating expenses of agency sales . property management compared to 201 9 , the operating expenses for property management increased by 22 % compared to the amount in 2020. the primary reason for the increase was due to relevant consulting service costs and property renewing cost . 24 house sales the operating expenses related to our house sales business in 20 20 increased by 26 % compared to 2019. this increase was mainly due to the increase in our sales promotion activities in hatx project and linyi project . general and administrative expenses the general and administrative expenses in 20 20 were $ 24,624,930 , which was a 145 % increase from $ 10,047,005 in 2019. the primary reason for the increase was due to the accrued bonus.to be paid to mr. lin of $ 21,167,305. operating loss in 20 20 , we had an operating loss of $ 27,784,638 , representing an increased loss from an operating loss of $ 6,948,403 in 2019. the increase in loss was mainly due to the accrued bonus to be paid to mr. lin chi-jung of $ 21,167,305 other income , net other income in 2020 was $ 25,186,060. we have dividends received from shdew this year . major related party transaction 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 . amount due to

