Hong Kong, 31st August: The SEEC Media Group, a Hong Kong-listed media company, announced its financial results for the first half of 2018. Revenues were US$10.6 million, a decline of 37% year-on-year. The company reduced its loss to US$12.5 million, compared with a loss of US$26 million recorded in the first half of 2017.
More than 66% of SEEC’s revenues were generated from its advertising services, amounting to US$7.0 million. This represents a 45% decrease year-on-year. SEEC’s second largest business segment, securities broking services generated revenues of US$1.0 million, or 9.9% of total. The remaining revenues were generated from its e-commence platform services & sales of related goods (US$995,000), money lending business (US$886,000), and sales in its books & magazines business (US$635,000).