SEEC Media narrows profit in FY2023

Hong Kong, 28th March: Last week, SEEC Media, a Chinese B2B media group, released its financial results for the year ended 31st December 2023. Total revenues in the year were US$4.9 million, falling 48% year-on-year. However, the company narrowed its loss from US$11 million in 2022, down to US$4.8 million in 2023.

Nearly 70% of SEEC’s revenues were generated from its advertising services & sales in its books & magazines segment. Revenues from that business were US$3.4 million. This represents a year-on-year decrease of 47%.