Hong Kong, 9th May: Earlier this week, Hong Kong-listed Sino Splendid (formerly China.com) announced its first quarter results ended 31st March 2017. The company reported total revenues of US$2.3 million in the quarter, down 35% compared with the first quarter of 2016. Sino Splendid recorded a net loss of US$739,000 in the quarter, compared with a profit of US$773,000 in 2016.
Sino Splendid attributed the decrease in revenue to the weak performance of the Travel Media Business, which posted a 56% decrease. That business segment generated revenues of US$1.5 million, and accounted for 67% of total revenues. The remaining revenues were generated from its newly acquired Financial Magazine business, amounting to US$736,000.
During the quarter, TTG, Sino Splendid’s travel media business, organised two industry shows, IT&CM China and CTW China, with two different Chinese partners. The concurrent shows were held in Shanghai in March. However, the financial results of these shows will not be reported until the second quarter in 2017.
Source: Sino Splendid announcement