SEEC Media’s loss widens to US$32m

Hong Kong, 29th March: Last week, SEEC Media, a Chinese B2B media group, released its financial results for the year ended 31st December 2017. Total revenues in the year were US$41 million, an increase of 19% year-on-year. However, the company posted a net loss of US$32 million, compared with a net loss of US$2.1 million in recorded in 2016.

 

Nearly 80% of SEEC’s revenues were generated from its advertising services (US$32 million), representing a year-on-year increase of 14%. The next largest business segment was their securities broking services, generating revenues of US$4.0 million. This accounted for 9.7% of SEEC Media’s total revenues. That segment grew by 30%compared with the previous year.

 

The remaining revenues were from: book & magazine sales (US$1.8 million), SEEC’s “money lending” business (US$1.4 million) and its e-commerce platform (US$1.3 million).

 

Source: SEEC Media announcement