Hong Kong, 9th May: Earlier this week, Hong Kong-listed Sino Splendid (formerly China.com) announced its first quarter results ended 31st March 2017. The company reported total revenues of US$2.3 million in the quarter, down 35% compared with the first quarter of 2016. Sino Splendid recorded a net loss of US$739,000 in the quarter, compared with a profit of US$773,000 in 2016.
Sino Splendid attributed the decrease in revenue to the weak performance of the Travel Media Business, which posted a 56% decrease. That business segment generated revenues of US$1.5 million, and accounted for 67% of total revenues. The remaining revenues were generated from its newly acquired Financial Magazine business, amounting to US$736,000.