Hong Kong, 9th May: Earlier this month, Hong Kong-listed Sino Splendid (formerly China.com) announced its results for the quarter ended 31st March 2018. The company reported total revenues of US$2.0 million in the quarter, down 12% compared with the first quarter of 2017. Sino Splendid recorded a net loss of US$1.1 million in the quarter compared with a loss of US$773,000 in 2017.
Sino Splendid’s management attributed the weak performance to falling revenues at its Travel Media Business. The Travel Media Business posted a 15% decrease, recording revenues of just US$1.3 million. That business accounts for 65% of Sino Splendid’s total revenues. The remaining revenues were generated from its financial magazine business (US$651,000) which was acquired in July 2016.