SEEC Media records large loss

Hong Kong, 31st August: Hong Kong-listed media company, the SEEC Media Group, announced its financial results for the first half of 2017. Revenues were US$17 million, which represents year-on-year growth of 31%. However, the company recorded a loss of US$26 million, compared with a loss of just US$2.5 million in the same period last year.

 

SEEC’s advertising services generated revenues of US$13 million, which is about 77% of the total. Revenue from advertising services increased 13% year-on-year. SEEC’s second largest business segment, securities broking services jumped 479% to US$2.3 million. The remaining revenues were generated from the sale of books & magazines (US$752,000), money lending (US$498,000) and finally, provision of e-commerce services generated US$347,000.

 

Source: Hong Kong Stock Exchange announcement