Hong Kong, 29th March: Last week, SEEC Media, a Chinese B2B media group, released its financial results for the year ended 31st December 2018. Total revenues in the year were US$23 million, a decrease of 43% year-on-year. However, the company narrowed its net loss to US$16 million, compared with a loss of US$32 million recorded in 2017.
More than 72% of SEEC’s revenues were generated from its advertising services (US$17 million). The next largest business segment was the securities broking services, generating revenues of just over US$2 million. This accounted for 8.8% of SEEC Media’s total revenues. The remaining revenues were from its e-commerce platform services & sales of related goods (US$1.95 million), money lending business (US$1.8 million) and book & magazine sales (US$680,000).