Hong Kong, 30th August: SEEC Media Group, a Hong Kong-listed media company, recently announced its financial results for the first half of 2019. Revenues in the six-month period were just US$4.6 million, a decline of 56% year-on-year. However, the company managed to reduce its overall loss from the US$12.5 million recorded in the first half of 2018 down to US$6.5 million in the first half of this year.
The company attributed the decline in revenues to the weak performance of its advertising business that suffered from the expiry of several exclusive advertising contracts. Management also pointed to the weakening outlook for the print media advertising business in China.