Hong Kong, 31st March: Last week, SEEC Media, a Chinese B2B media group, reported total revenues in 2016 of US$35 million, down 6.7% year-on-year. However, the company reduced its net loss to US$2.1 million in 2016 – a significant improvement over the loss of US$26 million recorded in 2015.
More than 80% of SEEC’s revenues were generated from its advertising services (US$29 million). Revenues from its advertising services dropped 17% in the period. Revneues from the sales of books & magazines decreased 8%, down to US$2.3 million. The remaining revenues were generated from new sources: commission & brokerage services (US$2.2 million), interest income from securities business (US$868,000), interest income from loans (US$340,000) and its e-commerce platform generated revenues of US$260,000.