Hong Kong, 21st March: Earlier this week, Hong Kong-listed Sino Splendid (formerly China.com) announced its full year financial results for the year ended 31st December 2017. The company reported revenues of US$12 million in the year, down 7.1% year-on-year. Sino Splendid also posted a large net loss of US$23 million in 2017.
More than 75% of Sino Splendid’s revenues were generated from its Travel Media Business, amounting to US$9.0 million that represents a year-on-year decrease of 23%. The decrease was attributed to a more challenging environment for the overall media and advertising sector in 2017. Sino Splendid’s remaining revenues were generated by its financial magazine business (US$2.9 million) and a small amount from money lending (US$38,000).
Source: Sino Splendid announcement